Document:

Exhibit 10.7

 

POST-MERGER
OPERATING AGREEMENT

 

This Post-Merger Operating Agreement (this “Agreement”)
is entered into as of January 22, 2007 (the “Effective Date”) by
and among (i) Consonus Acquisition Corp., d/b/a Consonus, a Delaware
corporation (“Consonus”), (ii) Knox Lawrence International, LLC, a
Delaware limited liability company and majority stockholder of Consonus (“KLI”),
(iii) Strategic Technologies, Inc., a North Carolina corporation (“STI”),
(iv) Michael G. Shook, William M. Shook, and Irvin Miglietta, each an
individual and a principal stockholder of STI (the “STI Stockholders”),
and (v) Consonus Technologies, Inc., a Delaware corporation (“Parent”)
(collectively, the “Parties”).

 

W I T N E
S S E T H

 

WHEREAS, the Parties
desire for Parent to be established to effect a merger transaction (“Merger”)
in which each of STI and Consonus, as the surviving entities, will become
wholly-owned subsidiaries of Parent; and

 

WHEREAS, each of STI
and Consonus have entered into certain loans in their own names with certain
Lenders (as defined below), which loans are secured by the respective assets of
STI and Consonus as more particularly described below; and

 

WHEREAS, the Parties
desire to set forth their agreement for the joint operation of their business
after the effective time of the Merger (the “Closing”) specifically to
preserve the Lenders’ security interest in the Collateral and the Lenders’
remedies under the Loan Documents without change or interruption; and

 

WHEREAS, the Lenders
have consented to the Merger; and

 

WHEREAS, the Parties
agree to operate the Companies (defined below) post-Closing pursuant to the
terms and conditions of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual benefits to be derived hereby, the representations,
warranties and covenants contained herein and other good and valuable
consideration (the receipt and sufficiency of which is hereby mutually
acknowledged by the Parties), the Parties hereto agree as follows:

 

I.              Definitions. Capitalized terms used herein shall have
the meaning given them in the Recitals or as set forth below.

 

“Access” means MRA Systems, Inc.,
d/b/a/ Access Distribution MRA Systems, Inc., d/b/a/ Access Distribution.

 

“Access Credit Agreement” means that
certain Amended and Restated Refinancing Agreement dated as of May 20,
2005, between STI and Access, as amended

 

 

further by that certain First Amendment to Amended and Restated
Refinancing Agreement dated as of June 22, 2006.

 

“Access Collateral” means the
collateral pledged to Access by STI pursuant to the Access Security Agreement.

 

“Access Loan” means the aggregate of
the loans and trade debt issued to STI from Access pursuant to the Access
Credit Agreement.

 

“Access Security Agreement” means,
collectively, (i) that certain Amended and Restated Security Agreement
dated as of July 31, 2002, as amended May 20, 2005 and as further
amended June 22, 2006, in which STI granted to Access a first lien and
security interest in all of STI’s assets, (ii) that certain Financing
Agreement dated as of October 17, 2001, between STI and The CIT
Group/Business Credit, Inc., which interest was assigned to Access on April 12,
2002, and (iii) a subordinate lien on certain North Carolina real property
owned by STI pursuant to that North Carolina Deed of Trust executed by STI in
favor of Access dated June 3, 2003.

 

“Collateral” means, collectively, the
Access Collateral and the US Bank Collateral.

 

“Company” means, individually or in
the aggregate, Consonus, STI, or Parent.

 

“Consonus-Utah” means Consonus, Inc.,
a Utah corporation.

 

“Consonus-Utah Loan” means that
certain loan issued to Consonus by Consonus-Utah in the original principal
amount of $3,550,000 evidenced by that certain Secured Promissory Note dated May 31,
2005.

 

“Consonus-Utah Security Agreement”
means that certain Security Agreement between Consonus and Consonus-Utah dated
as of May 31, 2005 to secure Consonus’ obligations under the Consonus-Utah
Loan by a lien on all of Consonus’ properties and assets, subordinate only to
the lien granted to US Bank under the US Bank Security Agreement.

 

“IPO” means the initial public
offering of the common stock of Parent or its successor on the Toronto Stock
Exchange, London Stock Exchange Alternative Investment Market or such other
public exchange or market as agreed to by the Parties.

 

“Lender” means, individually or
collectively as the context requires, Access, US Bank, Sun Microsystems, and
Consonus-Utah.

 

“Loans” means the debt issued to STI
or Consonus pursuant to any of the Access Credit Agreement, Sun Restructuring
Agreement, US Bank Credit Agreement and Consonus-Utah Loan.

 

2

 

“Loan Documents” means each of the
credit agreements, loan agreements, notes and security agreements executed by
STI or Consonus respecting the Loans.

 

“Operating Companies” means STI and
Consonus.

 

“Person” means any individual or
entity, including, without limitation, a corporation, limited liability
company, partnership, trust or governmental entity.

 

“US Bank Collateral” means the collateral
pledged to US Bank by Consonus pursuant to the US Bank Security Agreement.

 

“US Bank Security Agreement” means
that certain security agreement dated as of May 31, 2005, between Consonus
and US Bank in which Consonus granted to US Bank a first lien and security
interest in all of Consonus’ personal property.

 

“US Bank Loan” means the aggregate
$13,000,000 term and revolving credit facility issued to Consonus by US Bank
pursuant to the US Bank Credit Agreement.

 

“US Bank Credit Agreement” means that
certain Credit Agreement dated as of May 31, 2005 between Consonus and US
Bank to finance a portion of Consonus’ acquisition of certain Questar
Corporation assets and to provide working capital needs.

 

“Senior Lenders” means either or both
of US Bank or Access.

 

“Stockholders” means the STI
Stockholders and KLI.

 

“Sun Loan” means the debt extended to
STI by Sun Microsystems pursuant to the Sun Restructuring Agreement, which loan
is secured by a lien on STI assets subordinate to the lien granted to Access.

 

“Sun Microsystems” means Sun
Microsystems, Inc., a Delaware corporation.

 

“Sun Restructuring Agreement” means
that certain Restructuring Agreement among Sun Microsystems, STI and Access
dated as of July 14, 2003, which governs the Sun Loan.

 

“Termination Date” means the date on
which the Access Loan terminates or the Parties and Access amend the Access
Loan in a mutually agreeable manner.

 

II.            Reaffirmation of Loan Documents.

 

A.            Ratification. Except as expressly
stated herein or as modified by the Operating Companies and their respective
Lenders in contemplation of the Merger, the Loan Documents are and shall remain
unchanged and in full force and effect. Neither the Merger nor this Agreement
is intended to be nor shall it constitute a novation or accord and satisfaction
of the Loan Documents or of the indebtedness secured thereby. STI and

 

3

 

Consonus hereby restate, ratify, confirm and approve the Loan Documents
and each Operating Company agrees that the Loan Documents to which they are a
party constitute the valid and binding obligation and agreement of the
applicable Operating Company, enforceable by the applicable Lender in
accordance with their respective terms.

 

B.            No Defense. Each Operating Company
hereby agrees that the execution of this Agreement shall not be raised as and
shall not constitute a defense or a claim to any subsequent exercise by a
Lender of its rights and remedies under the Loan Documents to which it is a
party.

 

C.            No Modification of Collateral. Neither
the Merger nor this Agreement are intended, and they shall not be construed, to
effect any change in or to the Collateral securing the Loans or the perfection
and priority of lien held by the applicable Lender prior to Closing. The
Parties intend that all of the Collateral securing the Loans prior to Closing
shall remain subject to the same lien and priority as security for such Loans
after Closing.

 

III.           Joint Management of Companies.

 

A.            To realize the efficiencies created by the
Merger, the Companies intend to pool certain management functions in the Parent
which will continue to operate the business through its legally separate and
distinct subsidiaries, STI and Consonus; provided, however, that in no event
shall any management, monitoring or other similar fees payable to KLI or its
affiliates be so pooled or otherwise allocated to STI. The Parties agree to
segregate the finances and assets of the Companies in the manner set forth
herein. Each Operating Company will bear its own management costs post-Closing,
including, but not limited to employee salaries and benefits, consistent
generally with their current costs.

 

B.            The Companies agree to allocate fairly and
reasonably among the Companies, on an arms-length basis, shared expenses, including
shared office space and corporate personnel, and to record and pay for such
costs separately as individual expenses and revenues of the appropriate
Operating Company. To reflect these allocations, the Companies agree to
establish separate inter-Company records and accounts to record and allocate
all shared costs. Inter-Company accounts and allocations of shared expenses
among the Companies will be established by mutual agreement of the Companies,
and will be on terms which are intrinsically fair and are no less favorable
than would be obtained in a comparable arm’s-length transaction with an
unrelated third party.

 

C.            Under those circumstances in which an
Operating Company uses any of the resources of the other Operating Company, the
Operating Company receiving such resources will pay the other Operating Company
the fair value, calculated on an arm’s length basis, of the resources provided.

 

4

 

D.            To insure the highest level of post-Closing
customer satisfaction, each Operating Company, in consultation with Parent,
shall continue to control all of its communications with, and decisions
relating to, its customers and prospective customers. To the extent the
Operating Companies have mutual customers or prospective customers, the
Operating Companies shall consult with each other and Parent and develop a
mutually acceptable customer communications policy whereby each Operating
Company will control all communications relating to its respective business,
with prompt notice to the other Operating Company of any customer inquiries or
other communications relating to such other Operating Company’s business. To
the extent a customer of one Operating Company desires to acquire products or
services of the other Operating Company, the Operating Companies shall use all
reasonable efforts to facilitate such a transaction or transactions; provided,
however, that the Operating Company with the original relationship with such
customer shall be given credit for the additional revenue generated through the
provision of such products or services by the other Operating Company (which
other Operating Company shall provide such products or services as a
subcontractor or pursuant to such other arrangement as is mutually agreed to by
the Operating Companies). Notwithstanding the foregoing, the Parties
acknowledge that STI has certain restrictions on selling products that will
require it to sell directly to the end user, even if such end user is a
Consonus customer. Under such circumstances, the Operating Companies will agree
upon a reasonable fee to be paid by STI to Consonus, such as a finder’s fee.

 

E.             To insure continuity of management
post-Closing, Parent and Stockholders agree that Parent’s management will
consist initially of Michael G. Shook, Chief Executive Officer, William M.
Shook, Executive Vice President of Sales & Marketing, and Karen
Bertaux, Vice President of Operations, Mergers and Acquisitions and Investor
Relations, along with Daniel Milburn, as Senior Vice President of Hosting and
Infrastructure Services, and Robert Muir as Vice President and Chief Financial
Officer.

 

F.             Parent and Stockholders further agree that
the management and Board of Directors of the Operating Companies immediately
after Closing shall be as follows:

 

	
  Operating
  Company

  	
   

  	
  Board of Directors

  	
   

  	
  Management

  
	
  STI

  	
   

  	
  Michael G. Shook

  William M. Shook

  Irvin Miglietta

  	
   

  	
  Michael G. Shook

  (CEO/President)

  William M. Shook (Vice

  President Sales/Marketing)

  Karen Bertaux (Vice

  President Finance/CFO)

  James Togher (VP of

  Solutions Consulting and

  Delivery)

  Mark Arnold (VP of

  Enterprise Services)

  
	
  Consonus

  	
   

  	
  Nana Baffour

  	
   

  	
  Daniel Milburn (COO)

  
	
   

  	
   

  	
  Johnson Kachidza

  	
   

  	
  Robert Muir (CFO)

  

 

5

 

Parent and Stockholders also agree that following the Closing (i) the
directors of the Operating Companies shall not be removed by Parent, (ii) that
any new member of the Board of Directors of an Operating Company shall be
selected by the other directors of such Operating Company then in office, and (iii) management
of each Operating Company shall be appointed by its Board of Directors.

 

IV.           Covenants Regarding Segregation of Businesses and Assets. Prior to the Termination Date, absent the
prior written consent of the Senior Lenders, the Parties agree as follows:

 

A.            Separate Legal Existence. The
Parties shall maintain the separate legal existence of each Company. Each
Company shall hold itself out and identify itself as a separate and distinct
entity under its own name and not as a division or part of any other
Person (except as a subsidiary of Parent). The Companies shall conduct their
business under their respective corporate names. Parent shall not hold in its
name any interest in any of the assets or liabilities of the Operating
Companies or the proceeds of the assets and liabilities of the Operating
Companies. Neither the Parent nor the Stockholders shall be obligated to
contribute capital to the Operating Companies.

 

B.            Organization Documents. Except to
the extent contemplated by the IPO, neither Parent nor the Stockholders shall
amend the Certificate or Articles of Incorporation or By-laws of any Company.

 

C.            Segregation of Entities and Properties.
The Companies agree to segregate the assets of each Company and account for
such assets and the proceeds thereof separately. As such, the Companies agree
to:

 

(i)            maintain the accounts,
books and records of each Company separately from any other Person and for each
Company to file its own tax returns;

 

(ii)           maintain the books,
records, resolutions and agreements of each Company as the official records of
each Company;

 

(iii)          segregate and not
commingle the funds or assets of any one Company with those of any other
Person;

 

(iv)          hold the assets of each
Company separately in the corporate name of the respective Company;

 

(v)           conduct the business of
each Company in name of such Company;

 

(vi)          maintain the financial
statements, accounting records and other Company documents of each Company
separate from any other Person; provided, however, that Parent may consolidate
the financial statements of the

 

6

 

Operating Companies so long as such
consolidated statements clearly indicate that the assets of STI are unavailable
for the payment of the liabilities of Parent and Consonus, and that the assets
of Consonus are unavailable for the payment of the liabilities of Parent and
STI;

 

(vii)         pay the liabilities of
each Company, including the salaries of each Company’s employees, solely out of
the funds and assets of the respective Company;

 

(viii)        observe all corporate
formalities separately for each Company;

 

(ix)           maintain an arm’s-length
relationship among each Company and with their affiliates;

 

(x)            require the Companies
to maintain their assets in such a manner that it will not be costly or
difficult to segregate, ascertain or identify their individual assets from
those of any other Person;

 

(xi)           prohibit the Companies
from making loans or advances to any Person (including inter-Company advances)
unless such loans or advances are permitted in the Loan Documents;

 

(xii)          prohibit each Company
from entering into or being a party to, any transaction with such other Company
or the Stockholders except in the ordinary course of such Company’s business
and on terms which are intrinsically fair and are no less favorable to it than
would be obtained in a comparable arm’s-length transaction with an unrelated
third party; and

 

(xiii)         abide by the covenants,
conditions and agreements set forth in their respective Loan Documents.

 

D.            Merger or Sale of Stock. Except to
the extent permitted by the Loan Documents, Merger Agreement or contemplated by
the IPO, neither Parent nor the Stockholders shall merge any of the Companies,
or sell all or substantially all of the assets or shares of any Company.

 

E.             Dissolution, Winding Up, Bankruptcy.
Parent shall not (i) engage in, seek or consent to any dissolution,
winding up, liquidation, or file a bankruptcy, insolvency or reorganization
petition or otherwise institute insolvency proceedings or otherwise seek any
relief under any laws relating to the relief from debts or the protection of
debtors generally, (ii) seek or consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator, custodian or any similar official
for it or for all or any portion of its properties, or (iii) make any
assignment for the benefit of its creditors.

 

V.            Term and Termination. This
Agreement shall be effective as of the Effective Date and shall continue until
the Termination Date.

 

7

 

VI.           Effect and Priority of Documents.

 

A.            This
Agreement is intended to guide the post-Closing performance of the Parties’
respective obligations, covenants and duties to each other consistent with the
segregation of the Access Collateral and the U.S. Bank Collateral and the terms
of the applicable Loan Documents. As such, this Agreement supplements, rather
than supplants, the Loan Documents, it being the Parties’ intention to preserve
the Operating Companies’ obligations under the Loan Documents and the Lenders’
security interests in each Operating Company’s respective Collateral after the
Closing.

 

B.            Agreement as
Policy. This Agreement shall constitute the post-Closing policy
and procedure of each Company, which policy shall not be subject to amendment
or terminated except as otherwise set forth herein. The Parties agree that the
failure of any employee of a Company to comply with the authority, policies or
procedures set forth in this Agreement would constitute the failure of an
employee to comply with a Company policy or procedure with resulting
disciplinary action.

 

VII.         Miscellaneous.

 

A.            Time. Time shall be of the essence
hereof.

 

B.            Notices. All notices and other
communications hereunder (collectively, “Notice”), shall be in writing
and shall be deemed given (i) on the date of delivery, if delivered
personally (ii) on the date of confirmation of receipt, if delivered by
commercial delivery service, or mailed by registered or certified mail (return
receipt requested) or (iii) on the date of confirmation of receipt, if
sent via facsimile to the parties at the following address (or at such other
address for a party as shall be specified by like notice):

 

	
  To STI:

  	
   

  	
  Strategic Technologies, Inc.

  
	
   

  	
   

  	
  301 Gregson Drive

  
	
   

  	
   

  	
  Cary, North Carolina 27511

  
	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
  Facsimile No.: (919) 379-8000

  
	
   

  	
   

  	
  Telephone No.: (919) 379-8100

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Wyrick Robbins Yates & Ponton, LLP

  
	
  (which shall not constitute notice)

  	
   

  	
  4101 Lake Boone Trail, Suite 300

  
	
   

  	
   

  	
  Raleigh, North Carolina 27607

  
	
   

  	
   

  	
  Attn: Lisa D. Inman, Esq.

  
	
   

  	
   

  	
  Facsimile No.: (919) 781-4865

  
	
   

  	
   

  	
  Telephone No.: (919) 781-4000

  

 

8

 

	
  To Consonus:

  	
   

  	
  Consonus Acquisition Corp.

  
	
   

  	
   

  	
  180 East 100 South

  
	
   

  	
   

  	
  Salt Lake City, Utah 84111

  
	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
  Facsimile No.: (801) 617-2980

  
	
   

  	
   

  	
  Telephone No.: (801) 617-2998

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Greenberg Traurig, LLP

  
	
  (which shall not constitute notice)

  	
   

  	
  3290 Northside Parkway, Suite 400

  
	
   

  	
   

  	
  Atlanta, Georgia 30327

  
	
   

  	
   

  	
  Attn: Theodore I. Blum, Esq.

  
	
   

  	
   

  	
  Facsimile No.: (678) 553-2621

  
	
   

  	
   

  	
  Telephone No.: (678) 553-2620

  
	
   

  	
   

  	
   

  
	
  To Stockholders:

  	
   

  	
  Knox Lawrence International, LLC

  
	
   

  	
   

  	
  445 Park Avenue, 20th Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attn: Chairman

  
	
   

  	
   

  	
  Facsimile No.: (212) 792-0958

  
	
   

  	
   

  	
  Telephone No.: (212) 792-0920

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Michael G. Shook

  
	
   

  	
   

  	
  William M. Shook

  
	
   

  	
   

  	
  Irvin J. Miglietta

  
	
   

  	
   

  	
  301 Gregson Drive

  
	
   

  	
   

  	
  Cary, North Carolina 27511

  
	
   

  	
   

  	
  Facsimile No.: (919) 781-4865

  
	
   

  	
   

  	
  Telephone No.: (919) 781-4000

  

 

C.            Assignment. Neither this Agreement
nor any rights or obligations hereunder may be assigned by any Party
hereto without the prior written consent of all other Parties.

 

D.            Further Assurances. The Parties
hereto shall, with reasonable diligence, do all such things, provide all such
reasonable assurances, and execute such additional documents or instruments as may be
required by any other Party and as may be reasonably necessary or
desirable to effect the purpose of this Agreement and carry out its provisions.

 

E.             Headings; Definitions. The
descriptive headings of the several paragraphs of this Agreement are inserted
for convenience only, are not part of this Agreement and do not in any way
limit or amplify the terms or provisions of this Agreement.

 

F.             Integration. This Agreement and the
Loan Documents referenced herein (all of which are incorporated by reference as
integral elements hereof) constitute the entire agreement between the Parties
with respect to the subject matter contained herein

 

9

 

and supersedes all agreements, representations and understandings of
the Parties with respect to the subject matter hereof.

 

G.            No Third Party Beneficiaries. This
Agreement is entered into solely for the benefit of the Parties hereto and the
Lenders, and no term, provision or covenant hereunder shall confer or be deemed
to confer a benefit on any other Person, other than the Parties and the
Lenders.

 

H.            Modification and Waiver. No
supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by all Parties hereto No waiver of any provision of this
Agreement shall constitute, or be deemed to constitute, a waiver of any other
provision, nor shall any waiver constitute a continuing waiver. No waiver shall
be binding unless executed in writing by the Party granting the waiver.

 

I.              Governing Law. This Agreement
shall be governed by and interpreted under Delaware law without regard to the
conflicts of law principles of such jurisdiction.

 

J.             Attorneys’ Fees; Remedies. In the
event any action at law or in equity or other proceeding is brought to
interpret or enforce this Agreement, or in connection with any provision of
this Agreement, the prevailing party shall be entitled to its reasonable
attorneys’ fees and other costs reasonably incurred in such action or
proceeding. The grant of any specific remedy hereunder shall be in addition to
any other remedies that would be available to a Party arising in equity or at
law.

 

K.            Number; Gender. Unless the context
otherwise requires, the singular includes the plural and vice versa, and the
masculine, feminine and neuter include each other.

 

L.             Severability. Each article,
section, subsection and lesser section of this Agreement constitutes
a separate and distinct undertaking, covenant or provision hereof. In the event
that any provision of this Agreement shall finally be determined to be
unlawful, such provision shall be deemed severed from this Agreement, but every
other provision of this Agreement shall remain in full force and effect.

 

M.           Recitals. Each Party hereto
acknowledges and agrees that the recitals set forth at the beginning of this
Agreement are true and correct in all respects and are incorporated herein by
reference.

 

N.            No Party Deemed Drafter. Each Party
to this Agreement acknowledges that such Party has been represented by legal
counsel in preparation of this Agreement. If this Agreement or any provision
hereof is interpreted by a court of law, no provision hereof shall be construed
more harshly against any Party as drafter.

 

O.            Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an
original and all of which shall together

 

10

 

constitute one and the same instrument. Facsimile signatures shall be
treated as if they are original signatures.

 

P.             No Partnership Implied; Limited
Relationship. Notwithstanding anything contained in this Agreement among
the Parties, whether express, implied or otherwise, it is understood and agreed
that each of STI, Consonus and Parent are at all times acting and performing
hereunder independently and that nothing herein shall be deemed to create a
partnership, joint venture or other relationship; except that this Agreement
reflects the policy of the Companies respecting the post-Closing operations of
the Companies.

 

[Signature Page Follows]

 

11

 

IN WITNESS WHEREOF, the Parties have executed
this Post-Merger Operating Agreement as of the Effective Date.

 

	
   

  	
   

  	
  CONSONUS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Consonus Acquisition Corp., d/b/a/ Consonus

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Nana Baffour

  	
   

  
	
   

  	
   

  	
   

  	
    Nana
  Baffour, Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KLI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Knox Lawrence International, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Nana Baffour

  	
   

  
	
   

  	
   

  	
   

  	
    Nana
  Baffour, Managing Principal

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Strategic Technologies, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
    Michael
  G. Shook, Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STI STOCKHOLDERS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
  Michael G. Shook

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/William M. Shook

  	
   

  
	
   

  	
   

  	
  William M. Shook

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/Irvin J. Miglietta

  	
   

  
	
   

  	
   

  	
  Irvin J. Miglietta

  
							

 

SIGNATURE PAGE TO
POST-MERGER OPERATING AGREEMENT

 

 

	
   

  	
   

  	
  PARENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Consonus Technologies, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
  Michael G. Shook, Chief Executive Officer

  

 

SIGNATURE PAGE TO
POST-MERGER OPERATING AGREEMENT (CONTINUED)Exhibit 10.8

 

CONSONUS
TECHNOLOGIES, INC.

 

RESTRICTED
STOCK AGREEMENT

 

FOR

 

1.             Award of
Restricted Stock. The
Committee hereby grants, as of
                                
(the “Date of Grant”), to
                      ,
             
restricted shares of the Company’s Common Stock, par value $.000001 per share
(collectively the “Restricted Stock”).
The Restricted Stock shall be subject to the terms, provisions and restrictions
set forth in this Agreement and the Company’s 2007 Incentive Compensation Plan
(the “Plan”), which is
incorporated herein for all purposes. As a condition to entering into this
Agreement, and as a condition to the issuance of any Shares (or any other
securities of the Company), the Recipient agrees to be bound by all of the
terms and conditions herein and in the Plan. Unless otherwise provided herein,
terms used herein that are defined in the Plan and not defined herein shall
have the meanings attributable thereto in the Plan.

 

2.             Vesting of
Restricted Stock.

 

Except
as otherwise provided in Sections 2(b), 2(c) and 4 hereof, the shares of
Restricted Stock shall become vested in the following amounts, at the following
times and upon the following conditions, provided that the Continuous Service
of the Recipient continues through and on the applicable Vesting Date:

 

	
  Number of Shares of Restricted Stock

  	
   

  	
  Vesting Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

There
shall be no proportionate or partial vesting of shares of Restricted Stock in
or during the months, days or periods prior to each Vesting Date, and all
vesting of shares of Restricted Stock shall occur only on the applicable
Vesting Date.

 

(b)           Notwithstanding any other term or provision of this Agreement, in the
event that the Recipient’s Continuous Service is terminated either (i) by
the Company without Cause, (ii) by the Recipient for Good Reason, or (iii) by
the Company’s Nonrenewal of the Recipient’s Employment Agreement, dated the
same hereof (the “Employment Agreement”),
the shares of Restricted Stock subject to this Agreement shall become immediately
vested as of the date of the termination of the Recipient’s Continuous Service
or the Company’s notice of Nonrenewal to the Recipient, whichever applicable.

 

(c)           Notwithstanding any other term or provision of this Agreement, the
Board or the Committee shall be authorized, in its sole discretion, based upon
its review and evaluation of the 

 

 

performance of the Recipient
and of the Company, to accelerate the vesting of any shares of Restricted Stock
under this Agreement, at such times and upon such terms and conditions as the
Board or the Committee shall deem advisable.

 

(d)           For purposes of this Agreement, the following terms shall have the
meanings indicated:

 

(i)            “Non-Vested Shares” means any portion of the
Restricted Stock subject to this Agreement that has not become vested pursuant
to this Section 2.

 

(ii)           “Vested Shares”
means any portion of the Restricted Stock subject to this Agreement that is and
has become vested pursuant to this Section 2.

 

3.             Delivery
of Restricted Stock.

 

(a)           One or more stock certificates evidencing the Restricted Stock shall be
issued in the name of the Recipient but shall be held and retained by the
Records Administrator of the Company until the date (the “Applicable Date”) on which the shares (or a
portion thereof) subject to this Restricted Stock award become Vested Shares
pursuant to Section 2 hereof, subject to the provisions of Section 4
hereof. All such stock certificates shall bear the following legends, along
with such other legends that the Board or the Committee shall deem necessary
and appropriate or which are otherwise required or indicated pursuant to any
applicable stockholders agreement:

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR STATE SECURITIES
LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR STATE SECURITIES LAWS
OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE
ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR
HYPOTHECATION IS IN COMPLIANCE THEREWITH.

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO SUBSTANTIAL VESTING AND OTHER RESTRICTIONS AS SET FORTH IN THE
RESTRICTED STOCK AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THE
SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE
ISSUER. SUCH RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES, AND
INCLUDE VESTING CONDITIONS WHICH MAY RESULT IN THE COMPLETE FORFEITURE OF
THE SHARES.

 

2

 

(b)           The Recipient shall deposit with the Company stock powers or other
instruments of transfer or assignment, duly endorsed in blank with signature(s)
guaranteed, corresponding to each certificate representing shares of Restricted
Stock until such shares become Vested Shares. If the Recipient shall fail to
provide the Company with any such stock power or other instrument of transfer
or assignment, the Recipient hereby irrevocably appoints the Secretary of the
Company as his attorney-in-fact, with full power of appointment and
substitution, to execute and deliver any such power or other instrument which may be
necessary to effectuate the transfer of the Restricted Stock (or assignment of
distributions thereon) on the books and records of the Company.

 

(c)           On or after each Applicable Date, upon written request to the Company
by the Recipient, the Company shall promptly cause a new certificate or
certificates to be issued for and with respect to all shares that become Vested
Shares on that Applicable Date, which certificate(s) shall be delivered to the
Recipient as soon as administratively practicable after the date of receipt by
the Company of the Recipient’s written request. The new certificate or
certificates shall continue to bear those legends and endorsements that the
Company shall deem necessary or appropriate (including those relating to
restrictions on transferability and/or obligations and restrictions under the
Securities Laws and/or the Stockholders Agreement (if any)).

 

4.             Forfeiture
of Non-Vested Shares. If
the Recipient’s Continuous Service with the Company and the Related Entities is
terminated for any reason, any Shares of Restricted Stock that are not Vested
Shares, and that do not become Vested Shares pursuant to Section 2 hereof
as a result of such termination, shall be forfeited immediately upon such
termination of Continuous Service and revert back to the Company without any
payment to the Recipient. The Committee shall have the power and authority to
enforce on behalf of the Company any rights of the Company under this Agreement
in the event of the Recipient’s forfeiture of Non-Vested Shares pursuant to
this Section 4.

 

5.             Rights
with Respect to Restricted Stock.

 

(a)           Except as otherwise provided in this Agreement, the Recipient shall
have, with respect to all of the shares of Restricted Stock, whether Vested
Shares or Non-Vested Shares, all of the rights of a holder of shares of common
stock of the Company, including without limitation (i) the right to vote
such Restricted Stock, (ii) the right to receive dividends, if any, as may be
declared on the Restricted Stock from time to time, and (iii) the rights
available to all holders of shares of common stock of the Company upon any
merger, consolidation, reorganization, liquidation or dissolution, stock
split-up, stock dividend or recapitalization undertaken by the Company;
provided, however, that all of such rights shall be subject to the terms,
provisions, conditions and restrictions set forth in this Agreement (including
without limitation conditions under which all such rights shall be forfeited).
Any Shares issued to the Recipient as a dividend with respect to shares of
Restricted Stock shall have the same status and bear the same legend as the
shares of Restricted Stock and shall be held by the Company, if the shares of
Restricted Stock that such dividend is attributed to is being so held, unless
otherwise determined by the Committee. In addition, notwithstanding any
provision to the contrary herein, any cash dividends declared with respect to
shares of Restricted Stock subject to this Agreement shall be 

 

3

 

held in escrow by the
Committee until such time as the shares of Restricted Stock that such cash
dividends are attributed to shall become Vested Shares, and in the event that
such shares of Restricted Stock are subsequently forfeited, the cash dividends
attributable to such portion shall be forfeited as well.

 

(b)           If at any time while this Agreement is in effect (or shares granted
hereunder shall be or remain unvested while Recipient’s Continuous Service
continues and has not yet terminated or ceased for any reason), there shall be
any increase or decrease in the number of issued and outstanding Shares of the
Company through the declaration of a stock dividend or through any
recapitalization resulting in a stock split-up, combination or exchange of such
Shares, then and in that event, the Board or the Committee shall make any
adjustments it deems fair and appropriate, in view of such change, in the
number of shares of Restricted Stock then subject to this Agreement. If any
such adjustment shall result in a fractional share, such fraction shall be
disregarded.

 

(c)           Notwithstanding any term or provision of this Agreement to the
contrary, the existence of this Agreement, or of any outstanding Restricted
Stock awarded hereunder, shall not affect in any manner the right, power or
authority of the Company to make, authorize or consummate: (i) any or all adjustments,
recapitalizations, reorganizations or other changes in the Company’s capital
structure or its business; (ii) any merger, consolidation or similar
transaction by or of the Company; (iii) any offer, issue or sale by the
Company of any capital stock of the Company, including any equity or debt
securities, or preferred or preference stock that would rank prior to or on
parity with the Restricted Stock and/or that would include, have or possess
other rights, benefits and/or preferences superior to those that the Restricted
Stock includes, has or possesses, or any warrants, options or rights with
respect to any of the foregoing; (iv) the dissolution or liquidation of
the Company; (v) any sale, transfer or assignment of all or any part of
the stock, assets or business of the Company; or (vi) any other corporate
transaction, act or proceeding (whether of a similar character or otherwise).

 

6.             Restrictions
While Restricted Stock is Not Registered. The Restricted Stock specified in Section 1 and (a) all shares
of the Company’s capital stock received as a dividend or other distribution
upon such Restricted Stock, and (b) all shares of capital stock or other
securities of the Company into which such Restricted Stock may be changed
or for which such shares shall be exchanged, whether through reorganization,
recapitalization, stock split-ups or the like, shall be subject to the
provisions of this Section 6 only at those times that the Shares are not
registered under the Securities Exchange Act of 1934, as amended (such times
during which the shares are not so registered hereinafter being referred to as
the “Restricted Period”).

 

(a)           No Sale or
Pledge of Restricted Stock.
Except as otherwise provided herein, Recipient agrees and covenants that during
the Restricted Period he or she shall not sell, pledge, encumber or otherwise
transfer or dispose of, and shall not permit to be sold, encumbered, attached
or otherwise disposed of or transferred in any manner, either voluntarily or by
operation of law (all hereinafter collectively referred to as “transfers”), all or any portion of the
Restricted Shares or any interest therein except for the Vested Shares which may be
transferred in accordance with and subject to the terms of this Section 6.

 

4

 

(b)           Voluntary
Transfer Repurchase Option.
If Recipient desires to effect a voluntary transfer of any of the Vested Shares
during the Restricted Period, Recipient shall first give written notice to the
Company of such intent to transfer (the “Offer
Notice”) specifying (i) the number of the Vested Shares (the “Offered Shares”) and the date of the
proposed transfer (which shall not be less than thirty (30) days after the
giving of the Offer Notice), (ii) the name, address, and principal
business of the proposed transferee (the “Transferee”),
and (iii) the price and other terms and conditions of the proposed
transfer of the Offered Shares to the Transferee. The Offer Notice by Recipient
shall constitute an offer to sell all, but not less than all, of the Offered
Shares, at the price and on the terms specified in such Offer Notice, to the
Company and/or its designated purchaser. If the Company desires to accept
Recipient’s offer to sell, either for itself or on behalf of its designated
purchaser, the Company shall signify such acceptance by written notice to
Recipient within thirty (30) days following the giving of the Option Notice.
Failing such acceptance, Recipient’s offer shall lapse on the thirty-first day
following the giving of the Option Notice. With such written acceptance, the
Company shall designate a day not later than the later of (i) twenty (20)
days following the date of giving its notice of acceptance, or (ii) the
closing date in the Offer Notice, on which the Company or its designated
purchaser shall deliver the purchase price of the Offered Shares (in the same form as
provided in the Offer Notice) and Recipient shall deliver to the Company or its
designated Purchaser, as applicable, all certificates evidencing the Offered
Shares endorsed in blank for transfer or with separate stock powers endorsed in
blank for transfer. The Company may in its sole and absolute discretion,
notify the Recipient within thirty-one days following the giving of the Option
Notice that it does not permit the transfer of the Offered Shares to the
Transferee pursuant to the terms and conditions set forth in the Option Notice
in which event any such transfer or attempted transfer by the Recipient to the
Transferee shall be null and void. Upon the lapse without acceptance by the
Company of Recipient’s offer to sell the Offered Shares, and unless the Company
shall provide written notice to the Recipient within thirty-one days following
the giving of the Option Notice that it will not permit the transfer of the
Offered Shares to the Transferee pursuant to the terms and conditions set forth
in the Option Notice, Recipient shall be free to transfer the Offered Shares
not purchased by the Company or the designated purchaser to the Transferee (and
no one else), for a price and on terms and conditions which are no more
favorable to the Transferee than those set forth in the Offer Notice, for a
period of thirty days thereafter, but after such period the restrictions of
this Section 6 shall again apply to the Vested Shares. The Offered Shares
so transferred by Recipient to the Transferee shall continue to be subject to
all of the terms and conditions of this Section 6 and the Company shall
have the right to require, as a condition of such transfer, than the Transferee
execute an agreement substantially in the form and content of the
provisions of this Section 6, as well as any voting agreement and/or
shareholders agreement required by the Company.

 

(c)           Involuntary
Transfer Repurchase Option.
Whenever, during the Restricted Period, Recipient has any notice or knowledge
of any attempted, pending, or consummated involuntary transfer or lien or
charge upon any of the Vested Shares, whether by operation of law or otherwise,
Recipient shall give immediate written notice thereof to the Company. Whenever
the Company has any other notice or knowledge of any such attempted, impending,
or consummated involuntary transfer, lien, or charge, it shall give written
notice thereof to the Recipient. In either case, Recipient agrees to disclose
forthwith to the Company all pertinent 

 

5

 

information in his
possession relating thereto. If during the Restricted Period any of the Vested
Shares are subjected to any such involuntary transfer, lien, or charge, the
Company and its designated purchaser shall at all times have the immediate and
continuing option to purchase such of the Vested Shares upon notice by the
Company to Recipient or other record holder at a price and on terms determined
according to Section 6(e) below, and any of the Vested Shares so
purchased by the Company or its designated purchaser shall in every case be
free and clear of such transfer, lien, or charge.

 

(d)           Excepted
Transfers. The
provisions of Sections 6(a) and (b) shall not apply to a voluntary
assignment, bequest or testamentary transfer, in trust or otherwise, by the
Recipient (or upon the Recipient’s death, a subsequent transfer incident to
such death pursuant to a will or a trust, or occurring by operation of law,
effected by the heirs, personal representatives, or trustees of the Recipient
having authority to transfer the Vested Shares in question), which is (i) to
or for the benefit of any member of the Recipient’s immediate family,
specifically the Recipient’s spouse, parents and grandparents, children and
their direct descendants, brothers and sisters, nieces, nephews and their
direct descendants and the spouses of any of them; (ii) to a corporation,
partnership, limited liability company or other business entity, at least
fifty-one percent (51%) of each class of the voting stock or other voting
interests of which is owned by the Recipient and/or one or more of the
individuals described in clause (i) above; or (iii) to a trust, the
beneficiaries of which are any of the individuals or entities described in
clauses (i) or (ii) above. In the event that the Recipient transfers
any Vested Shares pursuant to this Section 6(d), the Recipient shall
continue to be subject to all of the terms and provisions of this Section 6
with respect to any remaining present or future interest whatsoever he may have
in the transferred Vested Shares, and, further provided that any Vested Shares
transferred pursuant to this subsection (d) shall continue to be
subject to the restrictions contained in this Section 6 and the transferee
of any such Vested Shares shall likewise be subject to all such terms and
conditions of this Section 6 as though such transferee were a party
hereto.

 

(e)           Repurchase
Price. For purposes of Section 6(c) hereof,
the per share purchase price of Vested Shares shall be an amount equal to the
fair market value of such share, determined by the Board of Directors of the
Company as of any date determined by the Board of Directors that is not more
than one year prior to the date of the event giving rise to the Company’s right
to purchase such Vested Shares. Any determination of fair market value made by
the Board of Directors of the Company shall be binding and conclusive on all
parties unless shown to have been made in an arbitrary and capricious manner.
The purchase price shall, at the option of the Company, be payable in cash or
in the form of the Company’s promissory note payable in up to three equal
annual installments commencing 12 months after the acquisition by the Company (“Acquisition Date”) of the Vested Shares,
together with interest on the unpaid balance thereof at the rate equal to the
prime rate of interest of Citibank, N.A. on the Acquisition Date.

 

7.             Transferability. Unless otherwise determined by the
Committee, the shares of Restricted Stock are not transferable unless and until
they become Vested Shares in accordance with this Agreement, otherwise than by
will or under the applicable laws of descent and distribution. The terms of
this Agreement shall be binding upon the executors, administrators, 

 

6

 

heirs, successors and
assigns of the Recipient. Except as otherwise permitted pursuant to the first
sentence of this Section, any attempt to effect a Transfer of any shares of
Restricted Stock prior to the date on which the shares become Vested Shares
shall be void ab initio. For purposes of this Agreement, “Transfer” shall mean any sale, transfer,
encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition,
whether similar or dissimilar to those previously enumerated, whether voluntary
or involuntary, and including, but not limited to, any disposition by operation
of law, by court order, by judicial process, or by foreclosure, levy or
attachment.

 

8.             Tax
Matters; Section 83(b) Election.

 

(a)           If the Recipient properly elects, within thirty (30) days of the Date
of Grant, to include in gross income for federal income tax purposes an amount
equal to the fair market value (as of the Date of Grant) of the Restricted
Stock pursuant to Section 83(b) of the Internal Revenue Code of 1986,
as amended (the “Code”), the
Recipient shall make arrangements satisfactory to the Company to pay to the
Company any federal, state or local income taxes required to be withheld with
respect to the Restricted Stock. If the Recipient shall fail to make such tax
payments as are required, the Company shall, to the extent permitted by law,
have the right to deduct from any payment of any kind (including without
limitation, the withholding of any Shares that otherwise would be issued to the
Recipient under this Agreement) otherwise due to the Recipient any federal,
state or local taxes of any kind required by law to be withheld with respect to
the Restricted Stock.

 

(b)           If the Recipient does not properly make the election described in Section 8(a) above,
the Recipient shall, no later than the date or dates as of which the
restrictions referred to in this Agreement hereof shall lapse, pay to the
Company, or make arrangements satisfactory to the Committee for payment of, any
federal, state or local taxes of any kind required by law to be withheld with
respect to the Restricted Stock (including without limitation the vesting
thereof), and the Company shall, to the extent permitted by law, have the right
to deduct from any payment of any kind (including without limitation, the
withholding of any Shares that otherwise would be distributed to the Recipient
under this Agreement) otherwise due to Recipient any federal, state, or local
taxes of any kind required by law to be withheld with respect to the Restricted
Stock.

 

(c)           The Recipient may satisfy the withholding requirements with
respect to the Restricted Stock pursuant to any one or combination of the
following methods:

 

(i)            payment in cash; or

 

(ii)           if and to the extent permitted by the Committee, payment by
surrendering unrestricted previously held Shares which have a value equal to
the required withholding amount or the withholding of Shares that otherwise
would be deliverable to the Recipient pursuant to this Award. The Recipient may surrender
Shares either by attestation or by delivery of a certificate or certificates
for shares duly endorsed for transfer to the Company, and if required with
medallion level signature guarantee by a member firm of a national stock
exchange, by a national or state bank (or guaranteed or notarized in such other
manner as the Committee may require).

 

7

 

(d)           Tax consequences on the Recipient (including without limitation
federal, state, local and foreign income tax consequences) with respect to the
Restricted Stock (including without limitation the grant, vesting and/or
forfeiture thereof) are the sole responsibility of the Recipient. The Recipient
shall consult with his or her own personal accountant(s) and/or tax advisor(s)
regarding these matters, the making of a Section 83(b) election, and
the Recipient’s filing, withholding and payment (or tax liability) obligations.

 

9.             Amendment,
Modification & Assignment; Non-Transferability. This Agreement may only be modified or
amended in a writing signed by the parties hereto. No promises, assurances,
commitments, agreements, undertakings or representations, whether oral,
written, electronic or otherwise, and whether express or implied, with respect
to the subject matter hereof, have been made by either party which are not set
forth expressly in this Agreement. Unless otherwise consented to in writing by
the Company, in its sole discretion, this Agreement (and Recipient’s rights
hereunder) may not be assigned, and the obligations of Recipient hereunder
may not be delegated, in whole or in part. The rights and obligations
created hereunder shall be binding on the Recipient and his heirs and legal
representatives and on the successors and assigns of the Company.

 

10.          Recipient’s
Representations. The
Recipient shall, if required by the Company, concurrently with the execution of
this Agreement, deliver to the Company his Investment Representation Statement
in the form attached to this Agreement as Exhibit A or in such other form as
the Company may request.

 

11.          Complete
Agreement. This
Agreement (together with those agreements and documents expressly referred to
herein, for the purposes referred to herein) embody the complete and entire
agreement and understanding between the parties with respect to the subject
matter hereof, and supersede any and all prior promises, assurances,
commitments, agreements, undertakings or representations, whether oral,
written, electronic or otherwise, and whether express or implied, which may relate
to the subject matter hereof in any way.

 

12.          Miscellaneous.

 

(a)           No Right
to Continuous Service. This
Agreement and the grant of Restricted Stock hereunder shall not confer, or be
construed to confer, upon the Recipient any right to Continuous Service with
the Company or any Related Entity.

 

(b)           No Limit
on Other Compensation Arrangements. Nothing contained in this Agreement shall preclude the Company or any
Related Entity from adopting or continuing in effect other or additional
compensation plans, agreements or arrangements, and any such plans, agreements
and arrangements may be either generally applicable or applicable only in
specific cases or to specific persons.

 

(c)           Severability. If any term or provision of this Agreement
is or becomes or is deemed to be invalid, illegal or unenforceable in any
jurisdiction or under any applicable law, rule or regulation, then such
provision shall be construed or deemed amended to conform to applicable
law (or if such provision cannot be so construed or deemed amended without 

 

8

 

materially altering the
purpose or intent of this Agreement and the grant of Restricted Stock
hereunder, such provision shall be stricken as to such jurisdiction and the
remainder of this Agreement and the award hereunder shall remain in full force
and effect).

 

(d)           No Trust
or Fund Created. Neither
this Agreement nor the grant of Restricted Stock hereunder shall create or be
construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company or any Related Entity and the Recipient or any
other person. To the extent that the Recipient or any other person acquires a
right to receive payments from the Company or any Related Entity pursuant to
this Agreement, such right shall be no greater than the right of any unsecured
general creditor of the Company.

 

(e)           Law
Governing. This
Agreement shall be governed by and construed and enforced in accordance with
the internal laws of the State of Delaware (without reference to the conflict
of laws rules or principles thereof).

 

(f)            Interpretation. The Recipient accepts the Restricted Stock
subject to all of the terms, provisions and restrictions of this Agreement and
the Plan. The undersigned Recipient hereby accepts as binding, conclusive and
final all decisions or interpretations of the Board or the Committee upon any
questions arising under this Agreement or the Plan.

 

(g)           Headings. Section, paragraph and other headings and
captions are provided solely as a convenience to facilitate reference. Such
headings and captions shall not be deemed in any way material or relevant to
the construction, meaning or interpretation of this Agreement or any term or
provision hereof.

 

(h)           Notices. Any notice under this Agreement shall be in
writing and shall be deemed to have been duly given when delivered personally
or when deposited in the United States mail, registered, postage prepaid, and
addressed, in the case of the Company, to the Company’s President at 301
Gregson Drive, Cary, North Carolina 27511, or if the Company should move its
principal office, to such principal office, and, in the case of the Recipient,
to the Recipient’s last permanent address as shown on the Company’s records,
subject to the right of either party to designate some other address at any
time hereafter in a notice satisfying the requirements of this Section.

 

(i)            Non-Waiver
of Breach. The waiver by
any party hereto of the other party’s prompt and complete performance, or
breach or violation, of any term or provision of this Agreement shall be
effected solely in a writing signed by such party, and shall not operate nor be
construed as a waiver of any subsequent breach or violation, and the waiver by
any party hereto to exercise any right or remedy which he or it may possess
shall not operate nor be construed as the waiver of such right or remedy by
such party, or as a bar to the exercise of such right or remedy by such party,
upon the occurrence of any subsequent breach or violation.

 

(j)            Counterparts. This Agreement may be executed in two
or more separate counterparts, each of which shall be an original, and all of
which together shall constitute one and the same agreement.

 

9

 

IN
WITNESS WHEREOF, the parties hereto, intending to be legally bound, have
executed this Agreement as of the date first written above.

 

	
   

  	
  CONSONUS TECHNOLOGIES, INC.,
  a 

  
	
   

  	
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Agreed and Accepted:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  RECIPIENT:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
						

 

10

 

EXHIBIT A

 

INVESTMENT
REPRESENTATION STATEMENT

 

RECIPIENT         :

 

COMPANY           :

 

SECURITY           :

 

AMOUNT             :

 

DATE     :

 

In connection with the grant
of the above-listed Securities, I, the Recipient, represent to the Company the
following:

 

(a)           I am aware of the Company’s business affairs and financial condition,
and have acquired sufficient information about the Company to reach an informed
and knowledgeable decision to acquire the Securities. I am receiving these
Securities for my own account for investment purposes only and not with a view
to, or for the resale in connection with, any “distribution” thereof for
purposes of the Securities Act of 1933, as amended (the “Securities Act”).

 

(b)           I understand that the Company’s issuance of the Securities has not been
registered under the Securities Act in reliance upon a specific exemption
therefrom, which exemption depends upon, among other things, the bona fide
nature of my investment intent as expressed herein. In this connection, I
understand that, in the view of the Securities and Exchange Commission (the “SEC”),
the statutory basis for such exemption may be unavailable if my
representation was predicated solely upon a present intention to hold these
Securities for the minimum capital gains period specified under tax statutes,
for a deferred sale, for or until an increase or decrease in the market price
of the Securities, or for a period of one year or any other fixed period in the
future.

 

(c)           I further understand that the Securities must be held indefinitely
unless the transfer is subsequently registered under the Securities Act or
unless an exemption from registration is otherwise available. Moreover, I
understand that the Company is under no obligation to register any transfer of
the Securities. In addition, I understand that the certificate evidencing the
Securities will be imprinted with a legend which prohibits the transfer of the
Securities unless registered or such registration is not required in the
opinion of counsel for the Company.

 

	
   

  	
   

  	
   

  
	
   

  
	
   

  
	
  Dated:

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