Document:

Exhibit 10.19

 

OPEN LINK FINANCIAL, INC.

 

NOTICE OF EXERCISE OF STOCK OPTION

 

Pursuant
to the provisions of the Amended and Restated Open Link Financial, Inc.
1995 Stock Option Plan, issued by Open Link Financial, Inc. (the “Company”),
a Delaware corporation, to                         
(the “Agreement”), I hereby exercise the incentive stock option granted
under the terms of the Agreement to the extent of              
shares of the Common stock of the Company as provided below (the “Shares”).
Contemporaneously with the delivery of this notice, I remit to the Company an
amount in cash, by wire transfer of immediately available funds, equal to the
exercise price per Share set forth in the Agreement multiplied by the number of
Shares as to which this Notice applies.

 

	
  Number of Shares Exercised

  	
   

  	
  Date of Grant

  	
   

  	
  Exercise Price

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
   

  
							

 

 

	
  Date:

  	
  Grantee:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Received
  and Accepted by the Company

  

 

 

	
  Date:

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  

 

 

PLEDGE AGREEMENT

 

In
consideration of OLF Acquisition Corp., a Delaware corporation (together with
any successor thereto, the “Company”), having mad e a loan to the individual
set forth on the Exhibit A hereto (“Borrower”) under
the Promissory Note of even date herewith, and any renewals or extensions
thereof (the “Note”), Bo rrower agrees as follows:

 

Section 1.
Pledge. Borrower hereby pledges, assigns and
transfers to the Company, and grants to the Company a security interest in, the
following property (the “Collateral”), to be held by the Company:

 

(a)           All shares of the
common stock, par value $.01 per share (the “Common Stock”), of Open Link
Financial, Inc. issuable upon exercise of all options to purchase Common
Stock held by Borrower and listed on Exhibit A hereto (each,
together with any successor security, a “S hare”).

 

(b)           All other
securities, instruments and other property issued or accepted in substitution
for or in addition to any of the foregoing.

 

(c)           All proceeds of any
and all of the Collateral.

 

Section 2.
Obligations. This Agreement and the security interest
granted hereby secure the payment of all obligations of Borrower to the Company
under the Note (the “Obligat ions”), and the Obligations of Borrower under this
Agreement, and any and all renewals or extensions thereof. Borrower shall
retain all rights to dividends and distributions and voting rights, if any,
with respect to the Collateral; provided that, upon the occurrence and
continuance of an Event of Default (as defined in Section 6), the Company
may, in its discretion, vote and exercise all of the powers of an owner with
respect to any of the relevant Collateral. Without limiting the generality of
the other remedies provided herein and in addition thereto, the Company after
the occurrence of an Event of Default may take all steps necessary to cause the
Collateral to be transferred into the name of the Company, including, but not
limited to, taking steps necessary to comply with restrictions on sale or
transfer of the shares constituting such Collateral, and in connection
therewith Borrower appoints the Company such Borrower’s attorney-in-fact to
execute and deliver such of fers, tender offers, certificates, documents or
instruments of every nature or description required for the purpose of the
transfer of such shares into the name of the Company, or any other person.

 

For
so long as the Obligations are outstanding, if Borrower receives any cash
distribution or dividend in respect of any of the Collateral, Borrower may
retain such cash distribution or dividend as his own property unless prior to
such receipt an Event of Default has occurred, in which event Borrower shall
accept same in trust for the Company, and shall upon request deliver same
immediately to the Company in the form received, with Borrower’s endorsement
and/or assignment when necessary, to be held by the Company as part of the
Collateral.

 

 

For
so long as the Obligations are outstanding, if Borrower receives any stock
certificate or option or deferred compensation right, whether as an addition
to, in substitution of, or in exchange for, any of the Collateral, or
otherwise, Borrower shall accept same in trust for the Company, and shall upon
request deliver same immediately to the Company in the form received, with
Borrower’s endorsement and/or a ssignment when necessary, to be held by the
Company as the Collateral.

 

Borrower
is herewith delivering to the Company all certificates or instruments
representing or evidencing the Collateral in suitable form for transfer or
delivery, or accompanied by duly executed instruments of transfer or assignment
to be held subject to the preceding paragraph.

 

Section 3.
Representations and Warranties. Borrower represents and warrants to the
Company as follows:

 

(a)           Borrower is, and (as
to any substitute or additional Collateral) shall be, the sole owner of the
Collateral pledged by Borrower, free and clear of any lien, security interest,
option or other charge or encumbrance, except for the security interest created
by this Agreement and restrictions imposed by applicable laws, and, subject to
the same exceptions, Borrower has and shall have the right to transfer such
Collateral and to grant a security interest therein to the Company as provided
in this Agreement.

 

(b)           No effective
financing statement or similar notice covering any of the Collateral pledged by
Borrower is or shall be on file in any recording office, and no other pledge or
assignment thereof has been made, or shall have been made, other than in favor
of the Company, except as the Company may approve.

 

Section 4.
Further Action by Borrower. Borrower shall, at the expense of Borrower,
promptly execute and deliver all further notices, instruments and documents,
including, without limitation, financing statements, and take all such further
action as may be reasonably necessary or reasonably advisable or as the Company
at any time may reasonably request, in order to perfect, preserve and protect
the security interest granted or purported to be granted hereby or to enable
the Company to exercise and enforce such rights, powers and remedies with
respect to the Collateral.

 

Section 5.
Preservation of the Collateral.

 

(a)           The Company shall
give to the Collateral the same degree of care and protection which it gives to
its own property, provided, however, that the Company shall have no liability
to Borrower for any losses, costs, expenses or damages due to any acts or
omissions of third parties, or due to any acts of God or other causes beyond
its control. The Company shall have no duty to preserve any rights with respect
to any of the Collateral, including, without limitation, rights against prior
parties, or to take, or to notify Borrower of the need to take,

 

 

any
action respecting any rights, privileges or options relating to any of the
Collateral. To replace any certificates, however, Borrower shall not be required
to supply any bond or other indemnity.

 

(b)           Borrower shall furnish to the Company, promptly upon
receipt thereof, copies of all material notices, requests and other documents
received by Borrower relating to the Collateral unless the same were sent by the
Company.

 

(c)           Borrower shall not sell, assign, transfer or otherwise
dispose of any of the Collateral, or create or suffer to exist any lien,
security interest, assignment by operation of law or other charge or
encumbrance on, or with respect to, any of the Collateral, except for the
security interest created by this Agreement.

 

Section 6. Defaults. A default (an “Event
of D efault”) shall be deemed to have occurred hereunder if (a) Borrower
fails in any material respect to perform any material obligation hereunder, if
any material representation or warranty hereunder was untrue in any material
respect when made, or upon default by Borrower under the Note or any agreement
evidencing, or constituting or granting security for, the Obligations, and (b) the
Company gives to Borrower written notice thereof and such default shall not
have been cured within fourteen (14) days or such additional time as may be
required to effect such cure if diligently pursued.

 

Section 7. Remedies. Upon and after
the occurrence of any Event of Default which is then continuing or which has
not been cured within the time period given for such cure:

 

(a)           The Company may exercise its rights with respect to the
Collateral, without regard to the existence of any other security or source of
payment for Obligations, including without limitation, the rights set forth in Section 2,
and may demand, sue for collection or make any other compromise or settlement
with respect to other rights and remedies provided for, herein or otherwise
available to it, and the Company shall have all of the rights and remedies of a
secured party in Delaware under the Uniform Commercial Code.

 

(b)           Except as specifically reserved herein, Borrower waives
all suretyship defenses at law and in equity, including waste and impairment of
the Collateral, and further waives the requirement of any demand and
presentment. Twenty-one (21) days’ prior notice to Borrower at the address
provided below or at such other address as Borrower shall provide to the
Company in writing for such purpose, of the time and place of any public sale
of the Collateral, or of the time after which any private sale or any other
intended disposition is to be made, shall constitute reasonable notification.

 

(c)           The Company is authorized at any such sale (including,
without limitation, any sale to itself or any affiliate of the Company, the
same being expressly authorized and contemplated herein), if the Company deems
it advisable to do so, in order to comply with any applicable securities laws,
to restrict the prospective bidders or purchasers to persons who will

 

 

represent
and agree that they are purchasing the Collateral for their own account for
investment, and not with a view to the distribution or resale thereof. Sales
made subject to such restriction shall not, solely by reason thereof, be deemed
not to have been made in a commercially reasonable manner.

 

(d)           The Company is
specifically authorized, with respect to any of the Collateral that consists of
Shares, to acquire such Collateral itself or to transfer such Collateral to any
affiliate of the Company at the fair market value of such Collateral. Borrower
expressly waives any requirement that the Company conduct a public or private
sale with respect to such Shares and agrees that such a disposition is
commercially reasonable.

 

(e)           In case of any sale
of all or part of the Collateral on credit for future delivery, the Collateral
so sold shall be retained by the Company until the purchase price is paid. The
Company shall incur no liability in case of the failure of the purchaser to pay
for such Collateral as so sold if such Collateral is recovered, or of the
failure of the Company to make any sale of the Collateral after giving notice
thereof, and in case of any such failure, such Collateral may again be sold.

 

(f)            All cash proceeds
received by the Company in respect of any sale, collection or other enforcement
or disposition of the Collateral shall be applied (after deduction of any
amounts payable to the Company for reasonable expenses of the sale, collection
or disposition of the Collateral) against Obligations in such order as the
Company shall elect. Upon satisfaction of the Obligations (i) this
Agreement and the security interest and lien created hereby shall terminate and
all rights to the Collateral shall revert to Borrower and (ii) the Company
will, upon Borrower’s request, (A) ret urn to Borrower the portion of the
Collateral not sold or otherwise disposed or applied pursuant to the terms
hereof and (B) at Borrower’s expense, execute and deliver to Borrower such
documents as Borrower shall reasonably request to evidence such termination.

 

Section 8.
Waivers and Remedies. Except as otherwise provided herein or by law,
Borrower waives presentment, demand, notice and protest, notice of acceptance
of this Agreement, and except as provided in Section 7(b) notice of
all action by the Company in reliance hereon. No failure by the Company to
exercise, no delay by the Company in exercising, and no single or partial
exercise of, any right, remedy or power hereunder or under any other agreement
relating to the Obligations or to the Collateral shall operate as a waiver
thereof, or of any other right, remedy or power at any time. No amendment,
modification or waiver of any provision of this Agreement shall be effective
unless contained in a writing signed by the Company. Any such waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given. The rights, remedies and powers of the Company and Borrower,
not only hereunder, but also under any promissory note or notes of Borrower
held by the Company, any other agreements of Borrower with the Company and
applicable law, are cumulative and may be exercised successively, concurrently
or alternatively.

 

 

Section 9.
Term: Binding Effect. This Agreement shall remain in full force and
effect until payment and satisfaction in full of all Obligations, shall be
binding upon Borrower and the heirs, legatees, legal representatives and
assigns of Borrower, and shall inure to the benefit of the Company and its
successors and assigns. Notwithstanding the foregoing, the Company may
terminate this Agreement and release the Collateral, or may accept substitute
Collateral, at any time in its sole discretion.

 

Section 10.
Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of New York without regard to conflict of law
principles, except to the extent that the perfection of the security interest
granted hereby in respect of any item of the Collateral may be governed by the
law of another jurisdiction. Unless otherwise defined herein, all words and
terms used in this Agreement shall have the meanings provided in the Uniform
Commercial Code of the state of New York. If any provision of this Agreement,
or the application thereof to any person or circumstance, is held invalid, such
provision shall be deemed to be modified to comply with applicable law or if
not able to be so modified, shall be deemed to be severed from the Agreement,
the remaining provisions of which to be valid and enforceable.

 

Section 11.
Signatures. This Agreement may be executed in counterparts.

 

Section 12.
Headings. The captions in this Agreement have been included for
reference only and shall not define or limit the provisions hereof.

 

 

 EXECUTED as of the date set
forth below.

 

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:
      

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  OPEN
  LINK FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:  

  
	
   

  	
  Title:    

  

 

Signature Page to Pledge Agreement

 

 

EXECUTED as of the date set forth below.

 

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:
  

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  OLF
  ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

Signature Page to Pledge Agreement

 

 

Exhibit A

 

Borrower:
                         

 

Collateral:             shares
of Common Stock

 

 

January 27, 2006

 

PROMISSORY NOTE

 

FOR
VALUE RECEIVED, the undersigned (the “Debtor”) hereby promises to pay to OLF
Acquisition Corp., a Delaware corporation (the “Payee”), on demand, at such
place or places as may be specified by the Payee or any holder hereof, in legal
tender of the United States of America, the principal amount of               
(the “Principal”), with interest at the fixed rate of 5% per annum, compounded
annually, on the unpaid balance.

 

This
Note is subject to the terms of and the payment hereof is secured by a certain
Pledge Agreement dated as of the date hereof by and between the Debtor and the
Payee (the “Pledge Agreement”).

 

In
case an Event of Default, as defined in the Pledge Agreement, shall occur, the
aggregate unpaid balance of Principal and accrued interest may be declared to
be due and payable in the manner and with the effect provided in the Pledge
Agreement. The Payee shall have (i) full recourse against the Collateral
under the Pledge Agreement in connection with the repayment of the Principal
and accrued interest thereon and (ii) full recourse against any other
assets of the Debtor.

 

The
Debtor may prepay any of the principal balance hereof or accrued interest
thereon without penalty, in cash.

 

The
Debtor expressly waives presentment for payment, protest and demand, notice of
protest, demand and dishonor and expressly agrees that this Note may be
extended from time to time without in any way affecting the liability of the
Debtor. No delay or omission on the part of Payee in exercising any right
hereunder shall operate as a waiver of such right or of any other right under
this Note.

 

This
Note may from time to time be extended by Payee, with or without notice to the
Debtor, and any related right may be waived, exchanged, surrendered or
otherwise dealt with, all without affecting the liability of the Debtor, in
each case in the sole discretion of Payee.

 

This
Note may not be changed, modified or terminated orally, but only by an
agreement in writing and signed by the Debtor and Payee. This Note shall be
governed by and construed in accordance with the laws of the state of the
jurisdiction of incorporation of the Payee (including any successor), without
regard to conflict of law principles, and shall be binding upon the successors
and assigns of the Debtor and inure to the benefit of Payee and its successors,
endorsees and assigns.

 

	
   

  	
  THE
  DEBTOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:Exhibit 10.20

 

September 27, 2007

 

Thomas D. Gros

10235 Pineland Drive

Houston, Texas 77024

 

Re:          Separation from Employment

 

Dear Tom:

 

This letter agreement (the “Agreement and Release”)
between you and Open Link Financial, Inc. (hereinafter “Open Link” or the
“Company”), confirms our understanding and agreement with respect to your
separation of employment with the Company as follows:

 

1.             Termination. 
You confirm the termination of your employment effective
September 28, 2007 (hereinafter, the “Separation Date”).  You agree that thereafter, you will not
represent yourself to be associated in any capacity with the Company or the
Releasees (as defined below).  You
further agree to cooperate and execute administrative documents necessary to
effectuate such termination.

 

2.             Consideration. 
You will be entitled to the following payments and benefits (subject to
applicable deductions and withholdings), contingent upon your execution and
delivery of this Agreement and Release in accordance with the provisions of Paragraph
25 below:

 

a.                             Final
Salary.  You will continue to receive
your salary at the current rate of your base compensation, $29,166.67 monthly,
through the Separation Date and for a period of twelve months thereafter (the
“Severance Benefits Period”), payable in accordance with the Company’s payroll
practices and subject to all applicable withholdings.

 

b.                             Benefits.  Except as expressly provided herein, upon the
Separation Date, you will cease to actively participate in all Open Link
benefit plans and programs, and any entitlements thereunder will be governed by
the terms of such plans and programs as of your Separation Date.  You agree that any amounts payable under this
Paragraph 2 will not be taken into account in determining any such
entitlements.

 

c.                             Monetary
Consideration.  You will receive a
lump-sum payment of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000.00), which
will be payable as wages and shall be subject to all applicable
withholdings.  The payment shall be made
within ten (10) business days after this Agreement and Release becomes
effective in accordance with Paragraph 24.

 

d.                             Rescission
of Stock Grant. The Company, on July 16, 2007, pursuant to the
Restricted Stock Agreement under the Open Link Financial, Inc. 2006 Stock
Option and Grant Plan between you and the Company dated as of July 16,
2007 (the “Stock Agreement”), granted, sold, and issued to you 465,000 shares
of Company stock, par value $.001 per share (the

 

 

“Shares”), in exchange for your payment of
$465.00.  A copy of the Stock Agreement
is attached as Exhibit A.  You and
the Company hereby rescind the Agreement and the grant of 465,000 Shares
effective as of the date hereof.  The
Company shall promptly refund to you the FOUR HUNDRED SIXTY-FIVE DOLLARS
($465.00) paid by you for the Shares.  In
addition, the Company shall refund to you the FOUR HUNDRED FIFTY-NINE THOUSAND,
SIX HUNDRED SIXTY-THREE DOLLARS AND SIXTY-SIX CENTS ($459,663.66) paid by you
to the Company with respect to the tax withholding obligations on the Shares,
within ten (10) business days after this Agreement and Release becomes
effective in accordance with Paragraph 24. 
You acknowledge that you have not claimed, and you agree that you will
not claim, a refund or credit from the Internal Revenue Service with respect to
the $459,663.66.  You acknowledge and
agree that any of the Shares held by you shall be promptly returned to the
Company and that you shall have no further right, title or interest in any of
the Shares.  It is intended by the
parties that, for U.S. federal, state and local income tax purposes that the
transactions described in this Paragraph 2.d shall constitute a rescission of
the Shares and that, as a result, you will be treated as if you never owned the
Shares (the “Intended Tax Treatment”). 
The Parties agree not to take any position for federal state or local
tax purposes inconsistent with the Intended Tax Treatment.

 

e.                             COBRA
Continuation Coverage.  Your group
medical, dental and vision insurance benefits will remain in effect through the
Separation Date.  Should you elect under
Section 4980B of the Internal Revenue Code of 1986, as amended (“Code”) to
continue your medical, dental and vision coverage, then the cost of the regular
premium for such benefits will be shared by you and the Company in the same
relative proportion as in effect on the Separation Date.  Such payment by the Company shall continue
until the earliest of: (i) the expiration of the Severance Benefits
Period, or (ii) the date your COBRA continuation coverage terminates
pursuant to Section 4980B(f)(2)(B) of the Code.  Any COBRA continuation coverage is contingent
upon your initial and continuing eligibility for such COBRA continuation
coverage (and associated costs).  Should
the Company’s provision of such COBRA continuation coverage result in the
recognition of taxable income (whether for federal, state or local income tax
purposes) by you or your spouse or other eligible dependent, then each of you
will be responsible for the payment of the income and employment tax liability
resulting from such coverage.

 

f.                              Expense
Reimbursement.  You will be
reimbursed for approved and authorized out-of-pocket travel and business
expenses incurred through your Separation Date, provided you submit all
required documentation by September 30, 2007.

 

3.             No Other Compensation.  You understand and agree that the
compensation, payments and benefits provided for in Paragraph 2 of this
Agreement and Release are in excess of those to which you may be entitled from
the Company or the Releasees, and you expressly acknowledge and agree that you
are not entitled to any additional compensation, payment or benefit from the
Company or the Releasees, including, but not limited to, any compensation,
payment or benefit under any Company severance plan or policy.

 

4.             Taxes and Indemnification.

 

a.                             You
agree that you have not relied on any advice from the Company, Releasees (as
defined below), or their attorneys concerning the tax consequences of the 

 

2

 

consideration set forth in Paragraphs 2(a)-(f) of
this Agreement and Release, but that you relied on your own judgment and/or
advice of your personal counsel.  The
payments described in Paragraph 2 will be reported via the appropriate tax
forms.  The Company shall have the right
to withhold from any amount payable to you hereunder an amount necessary in
order for the Company to satisfy any withholding tax obligation it may have
under applicable law.  You expressly
acknowledge and warrant that you are, and shall be, responsible for all
federal, state, and local tax liabilities which may result from the above
payments, and you hereby warrant that the Company shall bear no responsibility
for any such tax liabilities other than taxes determined to be the legal
responsibility of the Company.  You
further agree to indemnify and hold the Company and Releasees harmless in the
event that the Company or Releasees are assessed with any taxes, fines,
penalties, or interest by the IRS (or any other federal, state, or local
government agency) relating to the payments made pursuant to this Agreement and
Release other than taxes determined to be the legal responsibility of the
Company.  You agree that should any tax
liability arise or accrue to you under state or federal tax law as a result of
any payments made under this Agreement and Release, you will pay any and all
such finally determined obligations other than taxes determined to be the legal
responsibility of the Company, without seeking indemnity or reimbursement from
the Company or Releasees.

 

b.                             Notwithstanding
Paragraph 4(a), the Company shall indemnify and hold you harmless, from and
against any and all taxes, fines, penalties, or interest assessed by the IRS
(or any other federal, state, or local government agency) relating to the tax
consequences of the rescission of the stock grant pursuant to Paragraph
2(d) hereof being other than the Intended Tax Treatment and any taxes on
any such amount so indemnified (provided that you have acted in accordance with
applicable law and this Agreement with respect thereto).  You shall notify the Company in writing of
any claim by the IRS (or any other federal, state, or local government agency)
relating to the Intended Tax Treatment or the rescission of the stock grant
pursuant to Paragraph 2(d) hereof. 
Such notification shall be given as soon as practicable but no later
than ten (10) business days after you are informed in writing of such
claim and shall apprise the Company of the nature of the claim and the date of
the claim.  You shall (i) give the
Company any information reasonably requested by the Company relating to such
claim, (ii) take such action in connection with contesting such claim as
the Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such claim
by an attorney selected by the Company, (iii) cooperate with the Company
in good faith in order to effectively contest such claim, and (iv) permit
the Company to participate in any proceedings relating to such claim; provided,
however, that the Company shall bear, and pay directly, all costs and expenses
incurred in connection with such contest, and, at its sole option, may pursue
or forgo any and all administrative appeals, proceedings, hearings, and
conferences with the taxing authority with respect of such claim and may, at
its sole option, either direct you to pay the tax claimed and sue for a refund
or contest the claim in any permissible manner, and you agree to prosecute such
contest to a determination before any administrative tribunal, in a court of
initial jurisdiction and in one or more appellate courts, as the Company shall
determine.  If there is a conflict of
interests between you and the attorney selected by the Company (provided the
existence of such conflict is agreed to by you and the Company), you have the
right to have your personal legal counsel monitor the defense of your action at
the expense of the Company, provided the Company has had an opportunity to
review 

 

3

 

and approve such counsel and his/her fee schedule;
otherwise, if there is no such conflict of interests between you and the
attorney selected by the Company, you have the right to have your personal
legal counsel monitor the defense of your case, but you shall be solely
responsible for the costs of your own counsel.

 

5.             Waiver and Release; Indemnity.  In exchange for the compensation, payments,
benefits and other consideration provided to you pursuant to this Agreement and
Release, you agree as follows:

 

a.                             To
the fullest extent permitted by law you hereby IRREVOCABLY AND UNCONDITIONALLY
RELEASE, WAIVE AND FOREVER DISCHARGE the Company and the Releasees from any and
all legally waiveable agreements, promises, liabilities, claims, demands,
rights and entitlements of any kind whatsoever, in law or equity, whether known
or unknown, asserted or unasserted, fixed or contingent, apparent or concealed,
which you, your heirs, executors, administrators, successors or assigns ever
had, now have or hereafter can, shall or may have for, upon, or by reason of
any matter, cause or thing whatsoever existing, arising or occurring at any
time on or prior to the date you execute this Agreement and Release, including,
without limitation, any and all claims arising out of or relating to your
employment, compensation and benefits with the Company and/or the termination
thereof, and any and all contract claims, benefit claims, tort claims, fraud
claims, commissions, defamation, disparagement, or other personal injury
claims, claims under your February 20, 2007 Employment Agreement (a copy
of which is attached as Exhibit B), claims under your Stock Agreement,
claims under your July 16, 2007  Incentive
Stock Option Agreement under the Open Link Financial, Inc. 2006 Stock
Option and Grant Plan (the “Option Agreement”), claims related to any bonus
compensation, claims for accrued vacation pay, claims under any federal, state
or municipal wage payment, discrimination or fair employment practices law, statute
or regulation, and claims for costs, expenses and attorneys’ fees with respect
thereto, except that the Company’s obligations under this Agreement and Release
shall continue in full force and effect in accordance with its terms.  THIS RELEASE AND WAIVER INCLUDES,
WITHOUT LIMITATION, ANY AND ALL RIGHTS AND CLAIMS UNDER TITLE VII OF THE CIVIL
RIGHTS ACT OF 1964, AS AMENDED, THE CIVIL RIGHTS ACT OF 1991, THE CIVIL RIGHTS
ACT OF 1866 (42 U.S.C. 1981), THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967
AS AMENDED, THE EMPLOYEE RETIREMENT INCOME SECURITY ACT, AS AMENDED, THE
AMERICANS WITH DISABILITIES ACT, THE FAMILY AND MEDICAL LEAVE ACT, THE
SARBANES-OXLEY ACT, THE NEW YORK STATE LABOR LAW, THE NEW YORK STATE EXECUTIVE
LAW, THE NEW YORK CITY ADMINISTRATIVE CODE; and all other federal,
state or local fair employment practices statutes, ordinances, regulations or
constitutional provisions; provided, however, that this waiver
and release shall not prohibit you from enforcing your rights under this
Agreement and Release.

 

b.                             To
the fullest extent permitted by law, you represent and affirm that you have not
filed or caused to be filed on your behalf any claim for relief against the
Company before any arbitral, administrative, regulatory, self-regulatory,
judicial, legislative, or other body or agency, and, to the best of your
knowledge and belief, no outstanding claims for relief have 

 

4

 

been filed or asserted against the Company on your
behalf, whether in your name or on your behalf as part of a class, collective
or representative action.  You agree and acknowledge that you are not
entitled to and that you will not seek or authorize anyone to seek on your
behalf any personal equitable or monetary relief in any above-described
investigation, action or proceeding.

 

c.                             For
the purpose of implementing a full and complete release and discharge of
claims, you expressly acknowledge that this Agreement and Release is intended
to include in its effect, without limitation, all the claims described in the
preceding Paragraph 5(a), whether known or unknown, apparent or concealed, and
that this Agreement and Release contemplates the extinction of all such claims,
including claims for attorney’s fees. 
You further acknowledge that by this Agreement and Release you are
waiving and surrendering any and all rights, claims, and entitlements, you may
have under your Employment Agreement, Stock Agreement, and Option Agreement,
other than those expressly referenced herein. 
You expressly waive any right to assert after the execution of this
Agreement and Release that any such claim, demand, obligation or cause of
action has, through ignorance or oversight, been omitted from the scope of this
Agreement and Release.

 

d.                             For
purposes of this Agreement and Release, the terms “the Company and the
Releasees” and “the Company or the Releasees”, include Open Link
Financial, Inc., and any past, present and future direct and indirect
parents, subsidiaries, affiliates, divisions, predecessors, successors, and
assigns, and their and Open Link’s past, present and future officers,
directors, shareholders, representatives, employees, agents and attorneys, in
their official and individual capacities, and all other related individuals and
entities, jointly and individually, and this Agreement and Release shall inure
to the benefit of and be enforceable by all such entities and individuals and
their successors and assigns.

 

e.                             The
Company and Releasees state that they have not previously filed, caused to be
filed, or joined in any claim for relief or other action against you before any
arbitral, administrative, regulatory. self-regulatory, judicial, legislative or
other body or agency and no outstanding claims for relief or other actions have
been filed or asserted against you on behalf of the Company or Releasees. The
Company and Releasees agree to and do release you from any and all claims or
causes of action the Company and Releasees may have against you, whether known
or unknown, occurring prior to the date that the Company signs this agreement,
including but not limited to, any claims based on or related in any way to your
employment with the Company; notwithstanding the foregoing, however, nothing in
this provision constitutes a waiver or release of any claim arising out of or
related to any act or omission by you constituting a criminal felony.

 

f.                              The
Company shall indemnify and hold you harmless for any and all damages,
liabilities, losses, claims, judgments, taxes, fines, penalties, reasonable
costs and expenses (including reasonable fees of counsel) whether or not
arising out of third party claims and including all reasonable amounts paid in
investigation, defense or settlement of the foregoing (collectively, “Losses”)
that  may be sustained or suffered by you
based upon or arising out of any agreement of any kind entered into by you in
the name and on behalf of the Company, provided that such indemnity
(i) shall be subject to the terms and conditions of the Company’s by-laws
as related to indemnification of officers and (ii) shall not apply in
circumstances where 

 

5

 

the Company’s by-laws or applicable law provide that
an officer of the Company is not entitled to such indemnity.

 

6.             Mutual Non-Admission of Liability.  Nothing contained in this Agreement and
Release shall be deemed to constitute an admission or evidence of any
wrongdoing or liability on the part of the Company or Releasees or you.

 

7.             Subsequent Employment.  You agree that, within five (5) business
days of obtaining and accepting employment with a new employer you shall notify
Open Link of obtaining and accepting such employment and: (i) identify
your new employer; (ii) identify your new position, location and start
date of employment; and (iii) inform Open Link of the medical/health
insurance coverage offered to you by such employer.  Your failure to do so shall constitute a
breach of this Agreement and Release.

 

8.             Return of Documents and Property.  You represent and warrant that you have
returned to the Company all known equipment, data, material, books, records,
documents (whether stored electronically or on computer hard drives or disks),
computer disks, credit cards, Company keys, I.D. cards and other property,
including, without limitation, stand alone computer, fax machine, printers,
telephones, and other electronic devices in your possession, custody, or
control which are or were owned and/or leased by the Company in connection with
the conduct of the business of the Company (collectively referred to as
“Company Property”).  You further warrant
that you have not retained, or delivered to any person or entity, copies of
Company Property or permitted any copies of Company Property to be made by any
other person or entity.  You represent
and warrant that any Company Property that existed or was stored on your
personal home computer has been permanently deleted and no copies of the same
have been maintained.  To the extent that
in the future you discover any Company Property, you warrant that such property
will be immediately destroyed, deleted or returned to the Company.

 

9.             Non-Disparagement.  You shall not issue, authorize or condone any
disparaging comments or statements to the press, to present or former employees
of Open Link (or of its subsidiaries or affiliates), or to any individual or
entity with whom or which Open Link or any of its subsidiaries or affiliates
has a business relationship, or to others, which could affect adversely the
conduct of Open Link’s business or its reputation or the conduct of business or
the business or reputation of any of Open Link’s current or former parents,
subsidiaries, affiliates, officers, directors or employees.  Open
Link agrees that it will not issue, authorize, condone any statement or
communication that disparages you in any way to any third party, and will not
issue, authorize or condone any statement or communication (written or oral) to
any third party which is intended, or reasonably may be expected, to harm you
or your reputation.

 

10.           Communications Regarding
Separation.  In response to inquiries
from third parties, the Company will provide your title and dates of
service.  The parties agree that this
shall satisfy Open Link’s obligations in this regard.

 

11.           Cooperation.  You agree that you will assist and cooperate
with the Company and the Releasees to a reasonable extent in connection with
any investigation, proceeding, dispute or claim that may be made against, by or
with respect to the Company or the Releasees, or in 

 

6

 

connection with any
ongoing or future investigation, proceeding, dispute or claim of any kind
involving the Company or the Releasees, including any proceeding before any
arbitral, administrative, regulatory, self-regulatory, judicial, legislative,
or other body or agency (including, but not limited to, making yourself
available upon reasonable notice for factual interviews, preparation for
testimony, and similar activities) to the extent such claims, investigations or
proceedings relate to your employment with the Company, services performed or
required to be performed by you, pertinent knowledge possessed by you, or any
act or omission by you.  You further
agree to provide an affidavit relating to such knowledge and information, if requested
by Open Link.  If your assistance or
cooperation is required by the Company or the Releasees pursuant to this
Paragraph 11, such assistance or cooperation will be provided at a time that is
mutually agreed upon by you and the Company or Releasees, and the Company will
reimburse you for pre-approved reasonable attorney’s fees and reasonable
out-of-pocket expenses to effectuate such assistance or cooperation, including
without limitation, travel expenses and long distance charges, within 30 days
of the date that you present receipts for such expenses to the Company.

 

12.           Mutual Confidentiality.

 

a.                             You
agree to maintain the confidentiality of, and refrain from disclosing, making
public, or discussing in any way whatsoever the terms and conditions of this
Agreement and Release.  Notwithstanding
the foregoing, it is understood that as the sole exceptions to this
confidentiality provision:  (i) you
may discuss this Agreement and Release with your spouse and immediate family;
(ii) you may discuss this Agreement and Release with your attorneys;
(iii) you may permit appropriate public accountants to review this
Agreement and Release in connection with the conduct of an audit, and may
permit attorney(s), accountant(s) and tax advisor(s) of your choice
to review this Agreement and Release in connection with the receipt of advice
on the taxability of the compensation, payments and benefits set forth in
Paragraph 2 of this Agreement and Release, your rights hereunder, or to answer
inquiries with respect thereto; (iv) you may disclose the terms of this
Agreement and Release to the Internal Revenue Service and any similar state
taxing authorities, if requested by such authorities or as necessary to comply
with all applicable income tax laws; and (v) you may disclose the terms of
this Agreement and Release as provided for in Paragraph 14 below.  To the extent that you divulge the terms of
this Agreement and Release to any of the individuals described in (i),
(ii) and (iii) above, you shall advise each such individual of this
confidentiality provision and instruct each such individual of the confidential
nature of this Agreement and Release and that each such individual must comply
with the confidentiality terms of this Agreement and Release and not divulge
any of the terms and conditions thereof.

 

b.                             The
Company agrees that it will maintain the confidentiality of, and refrain from
disclosing, making public, or discussing in any way whatsoever the terms and
conditions of this Agreement and Release. 
Notwithstanding the foregoing, it is understood that as the sole
exceptions to this confidentiality provision: 
the Company may discuss this Agreement and Release with its attorneys,
accountant(s), tax advisor(s), financial advisor(s), executives, managers, and
other employees (e.g., payroll personnel), as necessary to effectuate its
terms.  To the extent that the Company
divulges the terms of this Agreement and Release to 

 

7

 

any of the individuals described in this Paragraph 12(b),
the Company shall advise each such individual to not divulge any of the
information provided.

 

13.           Continuing Obligations.  You must continue to comply with, and remain
bound by, the terms and conditions of (i) your February 20, 2007
Employee Confidentiality and Assignment Agreement (a copy of which is attached
as Exhibit C); and (ii) Section 7 of your Employment Agreement
(titled “Non-Competition and Non-Solicitation”), which shall remain in full
force and effect in accordance with their respective terms.  You understand and agree that if you fail to
be in compliance with the obligations referenced in this Paragraph
13(i) and (ii), the continuation of benefits provided under Paragraph
2(a) shall immediately cease.

 

14.           Permitted Disclosure.

 

a.                             Nothing
in this Agreement shall prohibit or restrict you or the Company and Releasees
from: (i) making any truthful disclosure of information required by law or
legal process; or (ii) providing information to, or testifying truthfully
or otherwise participating in or assisting in any investigation or proceeding
brought by, any federal or state regulatory or law enforcement agency or
legislative body, any self-regulatory organization, or Open Link’s Legal or
Compliance Departments.

 

b.                             To
the extent permitted by law, you agree that within three (3) business days
of your receipt of any subpoena, court order or other legal process compelling
the disclosure of any information and/or documents described, you will notify
Open Link in writing of such event and provide to Open Link a copy of all legal
papers and documents served upon you so as to allow Open Link reasonable
opportunity to take such action as may be necessary in order to protect such
information and/or documents from disclosure.

 

15.           Modifications.  This Agreement and Release may not be changed
orally, and no modification, amendment or waiver of any of the provisions
contained in this Agreement and Release, nor any future representation, promise
or condition in connection with the subject matter of this Agreement and
Release, shall be binding upon any party hereto unless made in writing and
signed by such party.

 

16.           Governing Law.  This Agreement shall be subject to and
governed by and interpreted in accordance with the laws of the State of New
York without regard to conflicts of law principles.

 

17.           Arbitration.

 

a.                             All
disputes, claims, or controversies arising out of or relating to this Agreement
and Release or the negotiation, validity or performance hereof and thereof or
the transactions contemplated hereby and thereby, or the rights and obligations
of the parties hereunder or thereunder, that are not resolved by mutual
agreement shall be resolved solely and exclusively by binding arbitration to be
conducted before Judicial Arbitration and Mediation Services, Inc.
(“JAMS”).  The arbitration shall be held
in New York, New York before a single 

 

8

 

arbitrator and shall be conducted in accordance with
the rules and regulations promulgated by JAMS unless specifically modified
herein.

 

b.                             The
parties covenant and agree that the arbitration shall commence within one
hundred eighty (180) days of the date on which a written demand for arbitration
is filed by any party hereto.  In
connection with the arbitration proceeding, the arbitrator shall have the power
to order the production of documents by each party and any third-party
witnesses.  In addition, each party may
take up to three depositions as of right, and the arbitrator may in his or her
discretion allow additional depositions upon good cause shown by the moving
party.  However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to
requests for admission.  In connection
with any arbitration, each party shall provide to the other, no later than
seven (7) business days before the date of the arbitration, the identity
of all persons that may testify at the arbitration and a copy of all documents
that may be introduced at the arbitration or considered or used by a party’s witness
or expert.  The arbitrator’s decision and
award shall be made and delivered within six (6) months of the selection
of the arbitrator.  The arbitrator’s
decision shall set forth a reasoned basis for any award of damages or finding
of liability.  The arbitrator shall not
have power to award damages in excess of actual compensatory damages and shall
not multiply actual damages or award punitive damages or any other damages that
are specifically excluded under this Agreement and Release, and each party hereby
irrevocably waives any claim to such damages.

 

c.                             The
parties covenant and agree that they will participate in the arbitration in
good faith and that they will, except as provided below, (i) bear their
own attorneys’ fees, costs and expenses in connection with the arbitration, and
(ii) share equally in the fees and expenses charged by JAMS.  The arbitrator may in his or her discretion
assess costs and expenses (including the reasonable legal fees and expenses of
the prevailing party) against any party to a proceeding.  Any party unsuccessfully refusing to comply
with an order of the arbitrators shall be liable for costs and expenses,
including attorneys’ fees, incurred by the other party in enforcing the award.  This Section 17(c) applies equally
to requests for temporary, preliminary or permanent injunctive relief, except
that in the case of temporary or preliminary injunctive relief any party may
proceed in court without prior arbitration for the purpose of avoiding
immediate and irreparable harm.

 

d.                             Each
of the parties hereto irrevocably and unconditionally consents to the exclusive
jurisdiction of JAMS to resolve all disputes, claims or controversies arising
out of or relating to this Agreement and Release or the negotiation, validity
or performance hereof and thereof, or the transactions contemplated hereby and
thereby, or the rights and obligations of the parties hereunder or thereunder,
and further consents to the sole and exclusive jurisdiction of the courts of
the State of New York for the purposes of enforcing the arbitration provisions
of this Section 17.  Each party
further irrevocably waives any objection to proceeding before JAMS based upon
lack of personal jurisdiction or to the laying of venue and further irrevocably
and unconditionally waives and agrees not to make a claim in any court that
arbitration before JAMS has been brought in an inconvenient forum.  Each of the parties hereto hereby consents to
service of process by registered mail at the address to which notices are to be
given.  Each of the parties 

 

9

 

hereto agrees that its or his submission to
jurisdiction and its or his consent to service of process by mail is made for
the express benefit of the other parties hereto.

 

18.           Assignment. This Agreement and
Release shall be binding upon you and your executors, administrators, heirs and
legal representatives.  The Company may,
at its sole discretion, sell or otherwise assign any rights, obligations or
benefits it has under this Agreement and Release.  You may not sell or otherwise assign any
rights, obligations or benefits under this Agreement and Release, and any
attempt to do so shall be void.

 

19.           Entire Agreement.  Except as expressly specified in Paragraph
13, this Agreement and Release contains the entire agreement between the
parties and supersedes and terminates any and all previous agreements between
them, whether written or oral.

 

20.           Specific Enforcement.  The parties agree that this Agreement and
Release may be specifically enforced in court or arbitration and may be used as
evidence in a subsequent proceeding in which any of the parties allege a breach
of this Agreement and Release.

 

21.           Notices.  All notices in connection with or provided
for under this Agreement and Release shall be validly given or made only if
made in writing and delivered personally, by facsimile or mailed by registered
or certified mail, return receipt requested, postage prepaid, to the party
entitled or required to receive the same, as follows:

 

If to Thomas
D. Gros, addressed to:

 

10235 Pineland
Drive

Houston, Texas
77024

Telephone:
(713) 291-4947

 

With a copy to Bruce R. Jocz

 

Bracewell and
Guliani, LLP

711 Louisiana
Street

Houston,
Texas  77002

Telephone:  (713) 221-1109

Facsimile:  (713) 221-1212

 

If to the Company, addressed to:

 

Kevin Hesselbirg

Open Link Financial, Inc.

1502 Reckson Plaza

Uniondale, New York 11556

Telephone: (516) 394-1296

Facsimile: (516) 394-1193

 

10

 

With a copy to
David A. McManus:

 

Morgan
Lewis & Bockius, LLP

101 Park
Avenue

New York,
NY  10178

Telephone:
(212) 309-6824

Facsimile:
(212) 309-6001

 

or at such other address as either party may designate
to the other by notice similarly given. 
Notice shall be deemed to have been given upon receipt in the case of
personal delivery or facsimile and upon the date of receipt indicated on the
return receipt in the case of mail.

 

22.           Severability. If, at any time
after the Effective Date of this Agreement, any provision of this Agreement
shall be held by any court or other forum of competent jurisdiction to be
illegal, void, or unenforceable, such provision shall be of no force and
effect.  The illegality or
unenforceability of such provision, however, shall have no effect upon, and
shall not impair the enforceability of, any other provision of this Agreement; provided,
however, that upon a finding by a court of competent jurisdiction that
the release set forth in Paragraph 5 is illegal and/or unenforceable, Open Link
shall be released from any obligations hereunder.

 

23.           Acknowledgment.  You acknowledge and agree that:

 

a.                             The
Company advises you to consult with an attorney before signing this Agreement.

 

b.                             You
have obtained independent legal advice from an attorney of your own choice with
respect to this Agreement, or you have knowingly and voluntarily chosen not to
do so.

 

c.                             You
have entered into this Agreement knowingly and voluntarily.

 

d.                             You
have read and understand this entire Agreement.

 

e.                             Changes
to the Company’s offer contained in this Agreement, whether material or
immaterial, will not restart the twenty-one (21) day consideration period
provided for in paragraph 24 below.

 

f.                              In
exchange for your waivers, releases and commitments set forth herein, including
your waiver and release of all claims arising under the Age Discrimination in
Employment Act (“ADEA”), the payments, benefits and other considerations that
you are receiving pursuant to this Agreement exceed any payment, benefit or
other thing of value to which you would otherwise be entitled, and are just and
sufficient consideration for the waivers, releases and commitments set forth
herein.

 

11

 

24.           You acknowledge that you have read
the information described in paragraph 23(e) above, and acknowledge and
agree you understand this information.

 

a.                             You
further acknowledge that you have been afforded at least twenty-one (21) days
in which to consider this Agreement.  You
acknowledge that, if you elect to sign this Agreement, the executed Agreement
must be returned to the Company by U.S. mail postmarked on or before the
twenty-first day after you receive this Agreement to Kevin Hesselbirg, at the
address indicated above.  If the
twenty-first day referenced above falls on a Saturday, Sunday, or holiday, the
21-day time limit shall be extended to the next business day.

 

(a)           Once
you have signed the Agreement, you will then be permitted to revoke this
Agreement at any time during the period of seven (7) days following its
execution by delivering to Kevin Hesselbirg  at the address
indicated above a written notice of revocation. 
If you wish to revoke this Agreement, the notice of revocation must be
received by the Company no later than the eighth day following your execution
of this Agreement.  If the seventh day
referenced above falls on a Saturday, Sunday, or holiday, the 7-day time limit
shall be extended to the next business day. 
This Agreement will not be effective or enforceable and no benefits
shall be provided hereunder unless and until the seven-day revocation period
has expired without your having exercised your right of revocation.

 

(b)           In
the event that you fail to execute and return this Agreement on a timely basis,
or you execute and then elect to revoke this Agreement, this Agreement will be
of no force or effect, and neither you nor the Company will have any rights or
obligations hereunder.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

12

 

25.           If this Agreement conforms to your understanding
and is acceptable to you, please indicate your agreement by signing and dating
the enclosed copy of this Agreement in the space provided below and returning
the executed Agreement to the Company as provided in paragraph 21 above. You
must sign this Agreement before a notary. 
If you cannot locate a notary, please contact me and I will arrange
either to have a notary present in my office when you wish to sign, or will
give you an address at another Company location where notaries are available.

 

We wish you all the best
in your future endeavors.

 

Sincerely yours,

 

 

	
  By:

  	
  /s/ Coleman Fung

  	
   

  
	
   

  	
  Coleman Fung

  	
   

  
	
   

  	
  Open Link Financial, Inc.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Thomas D. Gros

  	
  Date: 

  	
  September 27, 2007

  
	
  Thomas D. Gros

  	
   

  

 

 

WITNESSED BY:

 

	
  /s/ Jonell Cass

  	
   

  
	
  Notary Public, State of Texas

  	
   

  
	
  My Commission Expires August 12, 2008

  	
   

  

 

13

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