Document:

Exhibit 10.43  

  

May 29,
2003 

Marshall
Mohr 

Dear
Marshall: 

On
behalf of Adaptec, Inc., I am pleased to offer you the position of Chief Financial Officer, reporting to me. I am confident that you will provide the senior leadership that will continue to
enhance our customer and stockholder value. 

Your
initial base salary will be $325,000 per year. In addition, you will receive a one-time hire on bonus of $75,000 gross (subject to applicable withholdings). Should you voluntarily
leave the Company's employment within 12 months of your start date, you agree to repay the bonus funds on a prorated basis. You will also be eligible to participate in the Annual Incentive Plan
(AIP), which targets 60% of your base salary. Actual bonus payout will vary based on Company and individual performance. 

In
accordance with the Company's Stock Option Plan, we will recommend to our Board of Director's that you be granted an option to purchase 260,000 shares of Adaptec stock to be approved at the next
Board of Director's meeting. These options will vest 20% on the one-year anniversary of your hire date and quarterly thereafter, at 5.00% and will be fully vested at the end of five years. 

Adaptec
provides a full range of company paid benefits including a flexible program that provides employees with "credits" to purchase coverage tailored to individual needs. You may also elect to
defer up to 100% of your salary and/or bonus income under the Deferred Compensation Plan. In addition, you will receive a $650 per month car allowance, a free annual physical, a health club subsidy
and financial planning assistance up to $2,500 net per year. 

This
offer is contingent upon your ability to comply with the employment authorization provisions of the Immigration & Naturalization Act. Specifically, you will need to be able to demonstrate
through documentation, and to sign a Declaration under penalty of perjury that you are authorized to work in the United States. If your ability to execute INS form I-9 depends upon
Adaptec filing and receiving approval of a nonimmigrant visa (other than an H-1B change-of-employer) petition for you, Adaptec reserves the right to unilaterally
revoke this offer of employment by notice to you. Adaptec will not normally exercise this right unless, at the end of a 120-day period from the date a NIV or IV petition is filed for you,
you are unable to appear for work due to lack of employment authorization. In addition, this offer is contingent upon the successful completion of your background investigation. 

This
offer will remain valid for seven days from the date of this letter unless we notify you otherwise. You should understand that this offer does not constitute a contract of employment for any
specified period of time but will create an "employment at will" relationship. 

Please
sign this letter, indicating acceptance of this offer and your anticipated start date. Return the signed copy to Shirley Olerich, Vice President—Human Resources (M/S 15A) and retain
one copy for your records. 

Please
review and complete the enclosed forms. During orientation, you will be asked to show the appropriate documents. Orientation is held every Monday at 8:15 a.m. at 691 S. Milpitas
Boulevard, Milpitas, California. 

 

We
are confident you will make a major contribution to our success and are looking forward to having you join us. 

Sincerely,

	/s/  ROBERT N. STEPHENS      
 Robert N. Stephens

President & Chief Executive Officer	 	 

Attachments

	Accepted	 	/s/  MARSHALL MOHR      

	

Anticipated Start Date:	
 	

July 7, 2003

	 	 	(This date should be a Monday unless there is a holiday.)

Please
indicate below how you would like your name to appear on your business cards and nameplate: 

	 	 	(business cards)
	
	 	 
	

 	
 	

(nameplate)
	
	 	 

2Exhibit 10.44  

  

August 27,
1990 

Mr. K
Y Lim 

Dear
Mr. Lim: 

On
behalf of Adaptec, Inc. I am pleased to offer you the position of Managing Director of Adaptec Mfg (S) Pte Ltd, reporting to me. Your monthly salary will be S$10,875, which
includes a S$375 companion travel allowance. A guaranteed one (1) month Annual Wage Supplement is payable at the end of each calendar year or prorated if less than one (1) year's
service. You will also be eligible for a quarterly bonus dependent upon Company and individual performance. This bonus is guaranteed at 15% of quarterly base salary through March 31, 1991. 

You
will be on probation for a period of three months and upon confirmation, the notice period required is two (2) months for either party. During probation, the notice period for resignation
is one (1) month. 

You
will first be eligible for a merit salary increase July 1, 1991. Your salary will not be increased at the end of your probationary period. 

You
will be provided with the use of a Company maintained car with maximum S$130,000 value, together with a monthly car allowance of S$250 made as part of your remuneration package. 

In
addition, I will recommend to Adaptec's Board of Directors that you be granted an option to purchase 7,500 shares of Adaptec stock in accordance with the Company's 1990 Stock Plan. This stock
option will vest 25% after the first year, and thereafter at the rate of 6.25% per quarter. 

Adaptec
Mfg (S) Pte Ltd will provide a full range of company paid benefits including 100% paid medical insurance for you and your dependents. Group Term Life and Personal Accident
insurance are also provided for employees along with 14 days paid vacation beginning your first year. Further details are contained in our Company Policies manual. 

I
am pleased that you are considering joining Adaptec Mfg (S) Pte Ltd. I know that your relationship with Adaptec will be beneficial for both you and the Company and that your
contribution will be significant. 

Please
sign below indicating your acceptance of this offer and return one copy of this letter to me. 

Sincerely,

	/s/  SAM KAZARIAN      
 Sam Kazarian

Vice President, Operations	 	 

I,
K Y Lim, accept the above offer and will start work on     October 15, 1990    . 

	/s/  K Y LIM      
 K Y Lim	 	Sept. 4, 1990
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Exhibit 10.46  

 
 

DISTRIBUTED PROCESSING TECHNOLOGY CORP    
    
    OMNIBUS STOCK OPTION PLAN    
    

        Distributed Processing Technology Corp., a Florida corporation (the "Company"), hereby adopts a stock option plan (the "Plan") for its employees, in accordance
with the following terms and conditions: 

        1.    PURPOSE OF THE PLAN.    The purpose of the Plan is to advance
the growth and development of the Company by affording an opportunity to executives and other employees and consultants of the Company to purchase shares of the Company's non-voting
Class B Common Stock and to provide incentives for them to put forth maximum efforts for the success of the Company's business. The Plan is intended to permit certain designated stock options
granted under the Plan to qualify as incentive stock options under Section 422A of the Internal Revenue Code of 1986. 

        2.    DEFINITIONS.    In addition to terms defined elsewhere herein,
for purposes of this Plan the following capitalized terms shall have the meanings set forth below: 

        2.1    "Affiliate" of any specified person means any other person directly or indirectly Controlling or Controlled by or under
direct or indirect common Control with such specified person. 

        2.2    "Capital Stock" or "Stock" means the authorized and issued or unissued Class A Shares, Class B Shares and
any future class or classes of capital stock of the Company into which Class A Shares and Class B Shares are converted as the result of or in connection with a recapitalization. 

        2.3    "Cause" means: (a) commission of a crime or a charge of theft, dishonesty, fraud or embezzlement;
(b) failure to adhere to the Company's reasonable directives and policies, willful disobedience or
insubordination; (c) disclosing to a competitor or other unauthorized person, proprietary information, confidences or trade secrets of the Company; (d) the breach or violation of the
terms of any employment agreement in effect between the Company and the applicable Eligible Employee; (e) "cause" as the same may otherwise be defined in such employment agreement;
(f) recruitment of the Company personnel on behalf of a competitor or potential competitor of the Company; (g) solicitation of business on behalf of a competitor or potential competitor
of the Company; or (h) any other action which would be deemed to be "for cause" termination under Florida law. 

        2.4    "Change in Control" means: (a) any transaction or series of transactions in which any person or "group" as defined
in the rules and regulations promulgated under the Exchange Act (other than the Chief Executive or any Affiliate of the Chief Executive, the Company, a subsidiary of the Company, or a Company employee
benefit plan, including any trustee of such plan acting as trustee) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing fifty percent (50%) or more of the total voting power of the Company's then outstanding securities; or (b) the occurrence of a transaction requiring
shareholder approval, and involving the sale of all or substantially all of the assets of the Company or the merger of the Company with or into another corporation. 

        2.5    "Change in Control Price" means, as determined by the Chief Executive, (a) the highest closing sale price of a
Share as reported by the NASDAQ System and as appearing in the Wall Street Journal (or, in the event the Stock is listed on a stock exchange, the highest closing price on such exchange as reported on
the Composite Transaction Reporting System), at any time within the 60-day period immediately preceding the date of determination of the Change in Control Price by the Chief Executive (the
"60-Day Period"), or (b) the highest price paid or offered, as determined by the Chief Executive, in any bona fide transaction or bona fide offer related to the Change in Control,
at any time within the 60-Day Period. 

 

        2.6    "Chief Executive" means the President and Chief Executive Officer of the Company. 

        2.7    "Class A Shares" means the authorized and issued or unissued Shares of Class A Common Stock, par value $.10
per share, of the Company, each of which entitles the holder thereof to cast one vote per share on all matters submitted to a vote of shareholders of the Company. 

        2.8    "Class B Shares" means the authorized and issued or unissued shares of Class B Common Stock, par value $.10
per share, of the Company, the holders of which have no voting rights except as specifically required by law. 

        2.9    "Code" means the Internal Revenue Code of 1986, as amended and as hereafter amended. 

        2.10    "Company" means Distributed Processing Technology Corp. and its present or future divisions and direct and indirect
subsidiaries. 

        2.11    "Consultant" means any person, including an advisor, who is engaged by the Company to perform services and is
compensated for such services, provided that the term Consultant shall not include directors who are not compensated for their services or are paid only a director's fee by the Company. 

        2.12    "Commission" means the Securities and Exchange Commission. 

        2.13    "Continuous Employment" means the absence of any interruption or termination of the employment or consulting
relationship with the Company. Continuous Employment shall not be considered interrupted in the case of: (a) sick leave; (b) military leave; (c) any other leave of absence
approved by the Chief Executive provided such leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or
unless provided otherwise pursuant to Company policy adopted from time to time; or (d) in the case of transfers between locations of the Company. 

        2.14    "Directors" means the board of directors of the Company. 

        2.15    "Disability" means total and permanent disability, as defined in Section 22(e)(3) of the Code. 

        2.16    "Eligible Employee" means all Consultants, directors, officers, and executive, managerial, and other employees of the
Company, who, to be eligible for an Incentive Stock Option, are common law employees of the Company as provided in Section 422A of the Code. However, in order to be eligible for a Nonqualified
Stock 0ption, a director or consultant need not be a common law employee of the Company. 

        2.17    "Exchange Act" means the Securities Exchange Act of 1934 as amended, and the rules and regulations promulgated by the
Commission thereunder. 

        2.18    "Exercise Shares" means shares of Stock purchased by an Optionee pursuant to an Option Agreement. 

        2.19    "Fair Market Value" means, as of any date, the value per Share determined as follows: 

        (a)   If
the Shares are listed on any established stock exchange or a national market system, including without limitation the National Market System of the National
Association of Securities Dealers, Inc. Automated Quotation ("NASDAQ") System, the Fair Market Value of a Share shall be the closing sales price per Share (or the closing bid, if no sales were
reported) as quoted on such system or exchange (or the exchange with the greatest volume of trading in the Shares) on the last market trading day prior to the day of determination, as 

2

 

reported
in the Wall Street Journal or such other source as the Chief Executive or the Committee deems reliable; 

        (b)   If
the Shares are quoted on the NASDAQ System (but not on the National Market System thereof) or regularly quoted by a recognized securities dealer but selling prices
are not reported, the Fair Market Value of a Share shall be the mean between the high and low asked prices for the Shares on the last market trading day prior to the day of determination, as reported
in the Wall Street Journal or such other source as the Chief Executive or the Committee deems reliable; 

        (c)   In
the absence of an established market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Chief Executive or the Committee. 

        2.20    "Incentive Stock Option(s)" means a stock option granted to an Eligible Employee to purchase shares of Stock that is
intended to qualify as an "incentive stock option," as defined in Section 422A of the Code. 

        2.21    "Initial Public Offering" or "IPO" means a public offering and distribution, for cash proceeds to the Company, of the
Company's equity securities registered with the Commission in accordance with the requirements of the Securities Act and applicable state securities laws. 

        2.22    "Initial Public Trading Date" means the date, if any, on which a public trading market is established for the Shares
(such as in the case of an Initial Public Offering or "IPO" of Shares by the Company) or the date on which the Company's Capital Stock (including Shares issuable upon exercise
of outstanding Options) is converted into or exchanged for shares of capital stock or other securities that are publicly traded in an established securities market (such as in the case where the
Company is acquired through a merger or other business combination by a corporation or other person whose securities are publicly traded). 

        2.23    "Nonqualified Stock Option(s)" means a stock option granted to an Eligible Employee to purchase shares of Stock that is
not intended to qualify as an "incentive stock option" as defined in Section 422A of the Code. 

        2.24    "Option" means any unexercised and unexpired Incentive Stock Option or Nonqualified Stock Option issued under this Plan,
or any portion thereof remaining unexercised and unexpired. 

        2.25    "Option Agreement" means a written agreement by and between the Company and an Optionee setting forth the terms and
conditions of the Option granted by the Company to such Optionee. 

        2.26    "Optionee" means any Eligible Employee who is granted an Option as provided in the Plan. 

        2.27    "person" means any individual, corporation, general or limited partnership, limited liability company or partnership,
joint venture, association, trust, unincorporated organization and any government or any agency or political subdivision thereof. 

        2.28    "Plan" means the Distributed Processing Technology Corp. Omnibus Stock Option Plan. 

        2.29    "Share" or "Shares" means the Class B Shares, as adjusted in accordance with Article 12 of the Plan. 

        2.30    "Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations of the Commission
promulgated thereunder. 

        2.31    "Vested Option" or "Vested Options" means an Option or Options that have become vested pursuant to the provisions of
Article 9 of this Plan. 

3

 

        2.32    Where applicable: 

        (a)   terms
used in this Plan have the same meanings as the terms used in the Code and the regulations and rulings issued thereunder and pursuant thereto, with reference to
Options; and 

        (b)   words
used in this Plan in the singular may mean the plural, the plural may mean the singular and the masculine may mean the feminine or neuter. 

        3.    STOCK SUBJECT TO OPTION.    

        3.1    Total Number of Class B Shares.    The total number of
shares of Stock which may be issued (whether newly issued or acquired by the Company and reissued) by the Company to all Optionees under this Plan is 1,123,400 Class B Shares. The total number
of shares of Stock which may be so issued may be increased only by a resolution adopted by the Directors. Except as otherwise provided in Article 12 hereof, no Options to purchase
Class A Shares shall be granted under this Plan. 

        3.2    Expired Options.    If any Option granted under this Plan is
terminated or expires for any reason whatsoever, in whole or in part, without having been exercised in full, the shares (or remaining shares) of Stock subject to that particular Option shall, unless
this Plan shall have been terminated, again be available for grant under this Plan. 

        4.    ADMINISTRATION OF THE PLAN.    

        4.1    Chief Executive.    This Plan shall be administered by the
Chief Executive who may, from time to time, issue orders, not inconsistent with the provisions of the Plan, to interpret the provisions and supervise the administration of the Plan. All decisions made
by the Chief Executive in selecting Optionees, establishing the number of shares and terms applicable to each Option, and in construing the provisions of this Plan shall be final, conclusive and
binding on all persons, including the Company, its shareholders, Optionees, and purchasers of shares pursuant to this Plan. The Chief Executive shall not be liable or any action or determination made
in good faith with respect to the Plan or an Option granted hereunder. 

        4.2    Plan Committee.    The Chief Executive may from time to time
appoint a Stock Option Plan Committee, consisting of not less than two (2) Directors (the "Committee"). The Chief Executive may delegate to such Committee full power and authority to take any
action required or permitted to be taken by the Chief Executive under this Plan, subject to restrictions on affiliate participation under the Securities
Exchange Act of 1934, pertaining to, among other things, Section 16(b) thereof. The Chief Executive may from time to time, in his sole discretion, remove members from or add members to the
Committee. Vacancies may be filled by the Chief Executive only. Where the context requires, the Chief Executive shall mean the Committee, if appointed, for matters dealing with administration of the
Plan. 

        4.3    Compliance with Internal Revenue Code.    The Chief Executive
(or Committee, if appointed) shall at all times administer this Plan and make interpretations hereunder in such a manner that Options granted hereunder designated as Incentive Stock Options will meet
the requirements of Section 422A of the Code. 

        5.    SELECTION OF OPTIONEES.    

        5.1    Discretion of the Chief Executive.    In determining which
Eligible Employees shall be offered Options, as well as the terms thereof, the Chief Executive shall evaluate, among other things, (i) the duties and responsibilities of Eligible Employees,
(ii) their past and prospective contributions to the success of the Company, (iii) the extent to which they are performing and will 

4

 

continue
to perform outstanding services for the benefit of the Company, and (iv) such other factors as the Chief Executive deems relevant. 

        5.2    Option Agreement.    Subject to the provisions of this Plan,
each Option granted to an Optionee shall be set forth in an Option Agreement upon such terms and conditions as the Chief Executive determines. Each such Option Agreement shall incorporate the
provisions of this Plan by reference. The date of the grant of an Option will be the date specified in the Option Agreement. Each Option Agreement shall specifically identify such Options as Incentive
Stock Options or Nonqualified Stock Options. 

        6.    SPECIAL INCENTIVE STOCK OPTION PROVISIONS.    In addition to the
foregoing, Options granted under the Plan which are intended to be Incentive Stock Options shall be subject to the following terms and conditions: 

        6.1    Exercise Price.    The per share exercise price of an Incentive
Stock Option shall be no less than 100% of the Fair Market Value per Share on the date of grant. 

        6.2    Dollar Limitation.    To the extent that the aggregate fair
market value of (a) the Shares with respect to which Options are designated hereunder as Incentive Stock Options plus (b) the shares of stock of the Company with respect to which other
Incentive Stock Options are exercisable for the first time by an
Optionee during any calendar year under all other plans of the Company, exceeds $100,000, such Options shall be treated as Nonqualified Stock Options. For purposes of the preceding sentence,
(i) Options shall be taken into account in the order in which they were granted, and (ii) the Fair Market Value of the Shares shall be determined as of the time the Option or other
incentive stock option is granted. 

        6.3    10% Shareholder.    If any Optionee to whom an Incentive Stock
Option is to be granted pursuant to the provisions of the Plan is, on the date of grant, the owner (as determined in accordance with Section 425(d) of the Code) of Capital Stock possessing more
than 10% of the total combined voting power of all classes of stock of the Company, then the following special provisions shall be applicable to the Option granted to such individual: 

        (a)   The
per Share Option price of Shares subject to such Incentive Stock Option shall not be less than 110% of the Fair Market Value per Share on the date of grant; and 

        (b)   The
Option shall not have a term in excess of ten (10) years from the date of grant. 

        6.4    Continuous Employment.    No Incentive Stock Option granted
under the Plan shall be exercisable unless at all times during the period beginning on the date of grant of such Option and ending on the date three (3) months before the date of exercise of
such Option (or the date twelve (12) months before the date of such exercise, in the case of an 0ptionee who is Disabled), the Optionee was in the Continuous Employment of the Company. 

        6.5    Limitations on Transfer.    Any Shares acquired as a result of
the exercise of an Incentive Stock Option shall not be sold or otherwise transferred or disposed of within two (2) years following the date of grant of such Option or within one (1) year
after the exercise of such Option. Further, no Incentive Stock Option shall be transferable otherwise than by will or the laws of descent and distribution and may be exercisable only during the
Optionee's lifetime or within three (3) months thereafter. 

        6.6    Duration.    No Incentive Stock Option granted under this Plan
shall be exercisable after the expiration of 10 years from the date such Option is granted. Except as modified by the preceding provisions of this Article 6 and except as otherwise
limited by Section 422 of the Code, all of the provisions of the Plan shall be applicable to the Incentive Stock Options granted hereunder. 

5

 

        7.    OPTION PRICES.    The option exercise price for Shares issuable
pursuant to Incentive Stock Options shall be as provided in Article 6 hereof. The option exercise price for Shares issuable pursuant to Nonqualified Stock Options shall be determined by the
Chief Executive as set forth in the applicable Option Agreement and may be an exercise price less than the Fair Market Value per Share on the date of grant of such Nonqualified Stock 0ption. 

        8.    TERM OF OPTIONS.    The term of an Option may vary within the
sole discretion of the Chief Executive; provided, however, that the terms of Incentive Stock Options granted hereunder shall be as provided in Article 6 and Section 9.3 hereof. 

        9.    EXERCISE OF OPTIONS.    

        9.1    Vesting of Options.    No Option granted under this Plan shall
be exercisable unless and until such Option has become a Vested Option. Subject to the acceleration provisions of Section 9.2 hereinbelow, Options granted under this Plan that are designated as
Incentive Stock Options and that have not previously become Vested Options shall vest 100% and become Vested Options on the date nine (9) years and nine (9) months following the
applicable date of grant. The vesting schedule for Nonqualified Stock Options granted hereunder shall be established by the Chief Executive or the Committee and shall be set forth in the Option
Agreement to such applicable Nonqualified Stock Options. 

        9.2    Acceleration of Vesting.    Options granted under this Plan
that are designated as Incentive Stock Options and that are not Vested Options on the Initial Public Trading Date shall vest 25% on the Initial Public Trading Date and 25% on each subsequent
anniversary of the Initial Public Trading Date. An Option that becomes a Vested Option on or after the Initial Public Trading Date shall be exercisable until the earlier of (a) the expiration
of the term of such Option or (b) five (5) years following the date on which such Option became a Vested Option. Thereafter, such Incentive Stock Option shall not be exercisable and
shall be deemed cancelled and terminated. 

        9.3    Limitations on Exercise of Options.    An Option shall be
exercisable only during the term of the Option. Options granted hereunder and designated as Incentive Stock Options shall be subject to the limitations on exercise set forth in Article 6
hereof. The Chief Executive, in his sole discretion, may grant Nonqualified Stock Options on terms that limit the exercisability thereof to conditions in addition to the conditions specified in this
Plan and which permit the exercise of such Options for certain periods (not to exceed six (6) months) following termination of the Continuous Employment of the Optionee, all as set forth in the
provisions of the Option Agreement applicable to such Nonqualified Stock 0ptions. Subject to the limitations set forth in Article 6 hereof with respect to Incentive Stock 0ptions, and unless
otherwise provided in the Option Agreement applicable to Nonqualified Stock Options granted hereunder, Options otherwise exercisable in accordance with the provisions of the applicable Option
Agreement shall be exercisable: 

        (a)   for
a period ending 30 days after the Optionee's Continuous Employment has terminated, unless the Optionee was terminated for Cause by the Company or Cause
existed at the time the Optionee voluntarily terminated Optionee's employment with the Company, in which case the Option shall terminate upon delivery of notice of termination of employment; or 

        (b)   in
the case of Nonqualified Stock Options, by the estate of the Optionee, within 12 months after the date of the Optionee's death, if the Optionee should die
while in Continuous Employment; or 

        (c)   within
12 months after the Optionee's employment with the Company terminates, if the Optionee becomes Disabled during Continuous Employment and such Disability is
the cause of termination. 

6

 

        9.4    Termination of Unvested Options.    Options that are not Vested
Options on the date of termination of an Optionee's Continuous Employment for any reason whatsoever shall terminate on such date and thereafter shall not be exercisable in whole or in part. 

        9.5    Method of Exercising Options.    Subject to the provisions of
the applicable Option Agreement, including any provisions relating to vesting of an Option, an Optionee may exercise an Option, in whole or in part, only by written notice to the Company stating in
such written notice the number of Exercise Shares such Optionee elects to purchase under the Option, and the time of the delivery thereof, which time shall be at least 15 days after the giving
of such notice, unless an earlier date shall have been mutually agreed upon. If, after receipt of such information, the Optionee desires to withdraw such notice of exercise, the Optionee may withdraw
such notice of exercise by notifying the Company, in writing, prior to the time set forth for delivery of the Shares. In no event shall an Option be exercised after the expiration of its term. An
Optionee is under no obligation to exercise an Option or any part thereof. 

        9.6    Payment for Shares.    The consideration to be paid for Share
to be issued upon exercise of an Option may consist in whole or in part of (a) cash, (b) check, or (c) other Shares which (i) in the case of Shares acquired upon exercise
of an Option either have been owned by the Optionee for more than six (6) months on the date of surrender or were not acquired, directly or indirectly, from the Company, and (ii) have a
Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such 0ption is exercised. In the alternative, the Chief Executive may, but is not required
to, accept a promissory note, secured or unsecured, in the amount of the Option exercise price from the Optionee on terms and conditions satisfactory to the Chief Executive. 

        9.7    Delivery of Stock to Optionee.    Provided the Optionee has
delivered proper notice of exercise and full payment of the exercise price, the Company shall undertake and follow all necessary procedures to
make prompt delivery of the number of Shares which the Optionee elects to purchase at the time specified in such notice. Such delivery, however, may be postponed at the sole discretion of the Company
to enable the Company to comply with any applicable procedures, regulations or listing requirements of any governmental agency, stock exchange or regulatory authority. As a condition to the issuance
of Shares, the Company may require such additional payments from the Optionee or may, at its option, reduce the number of shares to be delivered to the Optionee, as may be required to allow the
Company to withhold any income taxes which the Company deems necessary to ensure the Company's compliance with federal or state income tax withholding requirements. 

        10.    NONTRANSFERABILITY OF OPTIONS.    Except as otherwise provided
in Section 9.3(b) with respect to Nonqualified Stock Options, an Option granted to an Optionee may be exercised only during such Optionee's lifetime by such Optionee. An Option ay not be sold,
exchanged, assigned, pledged, encumbered, hypothecated or otherwise transferred except by will or by the laws of descent and distribution. No Option or any right thereunder shall be subject to
execution, attachment or similar process by any creditors of the 0ptionee. Upon any attempted assignment, transfer, pledge, hypothecation or other encumbrance of any Option contrary to the provisions
hereof, such Option and all rights thereunder shall immediately terminate and shall be null and void with respect to the transferee or assignee. 

        11.    COMPLIANCE WITH THE SECURITIES LAWS.    

        11.1    Optionee's Written Statement.    The Chief Executive may, in
is sole discretion require, at the time an Optionee elects to exercise an Option, a written statement from the Optionee to the Company that he is acquiring the underlying shares for investment
purposes only and that he has no intention of reselling or otherwise disposing of such shares, together with a written acknowledgment that the Option and the underlying shares are not registered under
the Securities 

7

 

Act,
the securities laws of the State of Florida, or any other state securities laws. In the event that shares issued or issuable upon exercise of an Option are registered with the Commission under
the Securities Act, the holder of such Option shall no longer be required to comply with this Section 11.1. 

        11.2    Registration Requirements.    If at any time the Chief
Executive determines, in his sole discretion, that the listing, registration or qualification of the shares of Stock subject to Options upon any securities exchange or under any state or federal
securities laws, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares of Stock
thereunder, then such Options may not be exercised, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained, free of any
conditions not acceptable to the Chief Executive. 

        11.3    Restrictions on Transfer of Shares.    Subject to any
shareholder agreement to which the holder of shares of Stock may be a party, Exercise Shares acquired by an Optionee pursuant to the exercise of an Option may not be sold, transferred, pledged or
hypothecated, unless (a) a registration statement covering the securities is effective under the Securities Act and appropriate state securities laws, or (b) an opinion of counsel,
satisfactory to the Company, that such sale, transfer, pledge or hypothecation may legally be made without registration of such Shares under federal or state securities laws, has been received by the
Company. Shares issued upon the exercise of Nonqualified Stock Options may, in the discretion of the Chief Executive, be subject to certain additional restrictions and limitations on transfer,
repurchase rights and other conditions as may be specified in the Option Agreement applicable to such Nonqualified Stock Options. 

        11.4    Restrictive Legend.    In order to enforce the restrictions
imposed upon Exercise Shares issued under this Plan, the Company shall make appropriate notation its stock records or, if applicable, shall issue an appropriate stock transfer instruction to the
Company's stock transfer agent. In addition, the Company may cause a legend or legends to be placed on any certificates representing Exercise Shares issued pursuant to this Plan, which legend or
legends shall make appropriate reference to such restrictions in substantially the following form: 

        The
shares of common stock evidenced by this certificate: (1) have been issued under the Distributed Processing Technology Corp. Stock Option Plan (the "Plan") and are subject to
the terms and provisions of such Plan; and (2) have not been registered under the Securities Act of 1933, as amended, the Florida Securities and Investor Protection Act or any other state
securities laws, and, therefore, cannot be sold unless they are subsequently registered under the Act and any applicable state securities laws, or unless an exemption from registration is available. 

        12.    EFFECT OF CERTAIN CHANGES.    

        12.1    Stock Splits, Recapitalization, Etc.    Subject to any
required action by the shareholders of the Company, the number of Shares covered by each outstanding Option, and the number of Shares which have been authorized for issuance under the Plan but as to
which no Options have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option, as well as the price per Share covered by each such outstanding Option,
shall be proportionately adjusted for any increase or decrease in the number of issued Class B Shares resulting from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Stock or any other increase or decrease in the aggregate number of issued Class B Shares effected without receipt of consideration by the Company; provided, however,
that conversion of any convertible securities of the Company shall not be deemed to have been "effected without receipt of consideration." Such adjustment shall be made by the Chief Executive, whose
determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of Shares of any class, or securities convertible into Shares of 

8

 

any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an Option. 

        12.2    Dissolution, Merger, Etc.    

        (a)   In
the event of the proposed dissolution or liquidation of the Company, all outstanding Options will terminate immediately prior to the consummation of such proposed
action, unless otherwise provided by the Chief Executive. The Chief Executive may, in the exercise of his sole discretion in such instances, declare that any Option shall terminate as of a date fixed
by the Chief Executive and give each Optionee the right to exercise his or her Option as to all or any part of the Shares issuable upon exercise thereof, including Shares as to which the Option would
not otherwise be exercisable. 

        (b)   Subject
to the provisions of paragraph (c) hereof, in the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the
Company with or into another corporation, each outstanding Option shall be assumed by, or an equivalent option shall be substituted by, such successor corporation or a parent or subsidiary of such
successor corporation, unless the Chief Executive determines, in the exercise of his sole discretion and in lieu of such assumption or substitution, that the Optionee shall have the right to exercise
the Option as to all of the Shares issuable upon exercise thereof, including Shares as to which the Option would not otherwise be exercisable. If the Chief Executive makes an Option fully exercisable
in lieu of assumption or substitution in the event of a merger or sale of assets, the Company shall notify the Optionee that the Option shall be fully exercisable for a period of 15 days from
the date of such notice, and the Option will terminate upon the expiration of such period. For purposes of this paragraph, an Option granted under the Plan shall be deemed to be assumed if, following
the sale of assets or merger, the Option confers the right to purchase, for each Share subject to the Option immediately prior to the sale of assets or merger, the consideration (whether stock, cash
or other securities or property) received in the sale of assets or merger by holders of Stock for each Share held on the effective date of the transaction (and if such holders were offered a choice of
consideration, the type of consideration chosen by the holders if a majority of the outstanding Shares); provided, however, that if such consideration received in the sale of assets or merger was not
solely common stock of the successor corporation or its parent,
the Chief Executive may, with the consent of the successor corporation, provide for the consideration to be received upon exercise of the Option to be solely common stock of the successor corporation
or its parent equal in Fair Market Value to the per share consideration received by holders of Shares in the sale of assets or merger. 

        (c)   In
the event of a "Change in Control" of the Company, if determined by the Chief Executive prior to the occurrence of such Change in Control, the following acceleration
and valuation provisions shall apply: 

        (i)    Any
Options outstanding as of the date such Change in Control is determined to have occurred that are not yet Vested Options on such date shall become fully vested and
exercisable; and/or 

        (ii)   The
value of all outstanding Options shall be cashed out at the Change in Control Price. The cash out proceeds shall be paid to the Optionee or, in the event of death
of an Optionee prior to payment, to the estate of the Optionee or to a person who acquired the right to exercise the Option or right by request or inheritance. 

        (d)   Paragraphs
(a), (b) and (c) of this Section 12.2 shall not apply to a merger or consolidation in which the Company is the surviving corporation and
shares of Stock are not converted into or exchanged for stock, securities of any other person, cash or any other thing 

9

 

of
value. Notwithstanding the preceding sentence, in case of any consolidation or merger of another corporation into the Company in which the Company is the surviving corporation and in which there is
a reclassification or change (including a change to the right to receive cash or other property) of shares of Stock (other than a change in par value, or from par value to no par value, or as a result
of a subdivision or combination, but including any change in such shares into two or more classes or series of shares), the Chief Executive may provide that the holder of each Option shall have the
right to exercise such Option solely for the kind and amount of shares of stock and other securities (including those of any new direct or indirect parent of the Company), property, cash or any
combination thereof receivable upon such reclassification, change, consolidation or merger by the holder of the number of Shares for which such Option might have been exercised. 

        (e)   In
the event of a change in the Capital Stock of the Company as presently constituted which is limited to a change of all of its authorized shares with par value into
the same number of shares with a different par value or without par value, or the conversion of the present classes of Stock into a new or different class of capital stock as the result of or in
connection with a recapitalization, the shares resulting from any such change shall be deemed to be Stock within the meaning of the Plan. 

        (f)    To
the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be made by the Chief Executive, whose determination in
that respect shall be final, binding and conclusive, provided that each Incentive Stock Option granted pursuant to this Plan shall not be adjusted in a manner that causes such option to fail to
continue to qualify as an Incentive Stock Option within the meaning of IRC section 422A. 

        (g)   Except
as expressly provided in this Article 12, no Optionee shall have any rights by reason of any subdivision or consolidation of shares of stock of any class
or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class or by reason of any dissolution, liquidation, merger, or consolidation or
spin-off of assets or stock of another corporation; and any issue by the Company of shares of stock of any class shall not affect, and no adjustment by reason thereof shall be made with
respect to, the number or price of shares of Stock subject to any Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations or changes of its capital or business structures or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or part of its business or assets. 

        13.    AGREEMENT BY OPTIONEE REGARDING WITHHOLDING TAXES.    If the
Chief Executive shall so require, as a condition of the exercise, each Optionee shall agree that (a) no later than the date of exercise of any Nonqualified Option, the Optionee will pay to the
Company or make arrangements satisfactory to the Chief Executive regarding payment of, any federal, state or local taxes of any kind required by law to be withheld upon the exercise of such Options,
and (b) the Company shall, to the extent permitted or required by law, have the right to deduct federal, state and local taxes of any kind required by law to be withheld upon the exercise of
such Option from any payment of any kind otherwise due to the Optionee. 

        14.    ESCROWED SHARES.    In order to enforce any restrictions
imposed upon Exercise Shares under this Plan or the applicable Option Agreement, the Chief Executive may require any Optionee to enter into an Escrow Agreement providing that the certificates
representing Exercise Shares issued pursuant to this Plan shall remain in the physical custody of an escrow holder until any or all of such restrictions have terminated. 

        15.    APPLICATION OF FUNDS.    All proceeds received by the Company
from the exercise of Options shall be paid into its treasury and such proceeds shall be used for general corporate purposes. 

10

 

        16.    OPTIONEE'S RIGHTS AS A HOLDER OF SHARES.    

        16.1    Prior to Exercise.    No Optionee or his legal
representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any share of Stock subject to an Option unless and until stock certificates representing
Exercise Shares are issued to such person or persons pursuant to the terms of this Plan. Except as otherwise provided in Section 12 of this Plan, no adjustment shall be made for dividends or
other rights for which the record date occurs prior to the date such stock certificate is issued. 

        16.2    Dividends.    Purchasers of Exercise Shares will be entitled,
after issuance of their stock certificates, to any dividends that thereafter may be declared and paid on the Exercise Shares registered in their names. A stock certificate representing dividends
declared and paid in shares of stock shall be issued and delivered to the Holder after such shares have been registered in the Holder's name. Such stock certificate shall bear the legends set forth
above and shall be subject to the provisions of this Plan, the applicable Option Agreement and any escrow arrangement entered into pursuant to Section 15. 

        16.3    Voting Rights.    Holders of Exercise Shares shall be entitled
to receive all notices of meetings and exercise all voting rights, if any, of holders of Stock with respect to such Exercise Shares purchased. 

        16.4    Instructions on Transfer.    As a condition to the exercise of
any Option, the Chief Executive may, in his discretion, require any Optionee to enter into a Stock Transfer Restriction Agreement imposing certain restrictions and limitations on the sale or other
transfer of Shares to be issued upon the exercise of Options. 

        17.    AMENDMENT AND TERMINATION OF THE PLAN.    

        17.1    Discretion of the Chief Executive.    The Chief Executive may
amend or terminate this Plan at any time provided; however, that (a) any such amendment or termination shall not adversely affect the rights of Optionees who were granted Options prior thereto,
and (b) any such amendment shall not result in a "modification" of any Option within the meaning of Section 425(h) of the Code. 

        17.2    Automatic Termination.    This Plan shall terminate
10 years after its adoption, unless the Chief Executive shall, in his discretion, elect to terminate this Plan at an earlier date. Options may be granted under this Plan at any time and from
time to time prior to termination of the Plan under this Section 17.2. Any Option outstanding at the time the Plan is terminated under this Section 17.2 shall remain in effect until the
Option is exercised or expires. 

        18.    MISCELLANEOUS.    

        18.1    Notices.    All notices and elections by an Optionee shall be
in writing and delivered in person or by mail to the Chief Executive Officer at the principal office of the Company. 

        18.2    Effective Date of the Plan.    The Plan shall take effect upon
its adoption by the Board of Directors but shall be subject to the approval of the holders of a majority of the issued and outstanding shares of voting Class A Common Stock of the Company,
which approval must occur within 12 months after the date the Plan is adopted by the Board. 

        18.3    Employment.    Nothing in the Plan or in any Option granted
hereunder, or in any Option Agreement relating thereto, shall confer upon any employee of the Company the right to continue in the employ of the Company. All employment relationships between an
Optionee and the Company are at-will, unless the Optionee and the Company are parties to a separate written agreement providing for a specific employment duration. 

11

 

        18.4    Plan Binding.    The Plan shall be binding upon the successors
and assigns of the Company. 

        18.5    Gender.    Whenever used herein, nouns in the singular shall
include the plural, and the masculine pronoun shall include the feminine gender. 

        18.6    Headings.    Captioned headings of paragraphs and
subparagraphs hereof are inserted for convenience and reference, and constitute no part of the Plan. 

        18.7    Applicable Law.    The validity, interpretation and
enforcement of this Plan are governed in all respects by the laws of the State of Florida and the United States of America. 

Adopted
by the Directors as of March 18, 1998. 

Adopted
by the holders of Class A Shares as of March 18, 1998. 

	 	 	/s/  STEPHEN H. GOLDMAN      
 Stephen H. Goldman, President

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QuickLinks

DISTRIBUTED PROCESSING TECHNOLOGY CORP OMNIBUS STOCK OPTION PLAN

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