Document:

Unassociated Document

     

    
       Exhibit
10.1

    

    

    SEPARATION AGREEMENT AND
GENERAL RELEASE

     

    This Separation Agreement and General
Release (the “Agreement”) is entered into by and between SeaChange
International, Inc. (the “Company”) and Bruce Mann (the
“Employee”).

    

    1. Termination of
Employment.  Employee’s employment will terminate on
October 19, 2010 (the “Separation Date”).  By signing this
Agreement, Employee acknowledges receipt of all salary, bonuses, and other
employment compensation, and payment for all accrued, unused vacation, due
through and including the Separation Date (excluding the salary continuance
provided for in Section 4(b) below).

     

    2. Benefits.  Whether
or not Employee signs this Agreement, Employee may elect to continue Employee’s
group medical and/or dental insurance coverage at Employee’s expense for up to
eighteen (18) months following the Separation Date, provided Employee or
Employee’s eligible dependent(s) remain eligible for such coverage under the
federal law known as COBRA.  The Company will provide Employee with
further information relating to Employee’s eligibility for COBRA coverage under
separate cover.  Except as provided herein, Employee’s right to any
and all Company benefits terminated on the Separation Date.

     

    3. Stock
Options.  Except as provided in Section 4 below with the
Company’s receipt of this Agreement executed by Employee that has not been
revoked during the Revocation Period, as set forth in the Company’s Amended and
Restated 2005 Equity Compensation and Incentive Plan and the Company’s Amended
and Restated 1995 Stock Option Plan (collectively, the “Stock Option Plans”) and
Employee’s Stock Option Agreements with the Company (the “Stock Option
Agreements”) issued thereunder (a true and complete list of which outstanding
Stock Option Agreements is set forth on Exhibit A hereto), Employee’s options to
purchase stock in the Company ceased vesting on the Separation
Date.  All of Employee’s rights and obligations to stock options,
including without limitation vesting, exercise and expiration, will continue to
be governed by the terms and conditions of the Stock Option Plans and the Stock
Option Agreements.

     

    4. Post-Termination
Consideration.

     

    (a)           Release
Consideration. If Employee signs this Agreement within twenty-one (21)
days and does not revoke Employee’s acceptance within seven (7) days thereafter
(the “Revocation Period”), then, in exchange for the promises contained herein,
the Company will provide Employee with the following release consideration (the
“Release Consideration”), which consideration Employee acknowledges is not
otherwise owed to Employee under any employment agreement (oral or written) or
any Company policy or practice:

     

    (i)  In
exchange for Employee’s release of claims under the federal Age Discrimination
in Employment law (“ADEA”), and notwithstanding Section 3 above, the Company
shall provide accelerated vesting for seventeen thousand five hundred fifty
(17,550) Restricted Stock Units (“RSUs”) that were granted on April 30,
2009.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (ii)  In
exchange for Employee’s release of all other claims of discrimination of any
sort, and notwithstanding Section 3 above, the Company shall provide accelerated
vesting for an additional thirteen thousand six hundred twenty (13,620) RSUs
that were granted on May 16, 2008.

     

    Effective
upon the expiration of the Revocation Period, the agreements evidencing the RSUs
referenced in Section 4(a)(i) and (ii) above shall be and hereby are amended to
effect the accelerated vesting stipulated in Section 4(a)(i) and (ii) above, as
applicable.

     

    (b)           Additional
Consideration.  As additional consideration for, and in
exchange for the release of, all other claims contained in the Employee’s
General Release of Claims set forth below, the Company shall pay Employee a
total gross amount of $184,615.38, representing thirty-two (32) weeks of pay,
less all applicable deductions, to be paid in sixteen (16) equal installments on
the Company’s regular payroll schedule, the first such payment to be made on the
first regular payroll date after the 7-day Revocation Period has
expired.

     

    5. Internal Revenue Code
Section 409A.  In the event Employee is determined to be a
“Specified Employee” under Treasury Regulation Section 1.409A-1(i) upon
Employee’s separation from service, any payment under this Agreement shall not
be paid until at least six (6) months after such separation
date.  Notwithstanding the foregoing, Employee’s termination of
employment (and Separation Date) under this Agreement (a) shall occur only if it
constitutes a “separation from service” within the meaning
of  Treasury Regulation Section 1.409A-1(h)(1) and (b) in the case of
any “involuntary separation from service” under Treasury Regulation 1.409A-1(n),
the six month delay shall only be applied to the extent such amounts, when added
to all other amounts required to be taken into account under the “separation
pay” limitation of Treasury Regulation Section 1.409A-1(b)(9)(iii), would, if
paid within such period, exceed the Employee’s Statutory
Maximum.  Payment of any delayed amounts shall be made as soon as is
administratively practicable, but no more than ten (10) business days, after the
expiration of such six (6) month period.  For purposes of this
Section, the term “Statutory Maximum” means, with respect to a Specified
Employee, the “two (2) times the lesser of” amount describe in Treasury
Regulation Section 1.409A(b)(9)(iii)(A).

     

    6. Company
Property.  By signing this Agreement, Employee represents and
acknowledges that Employee has returned to the Company all originals and copies
(both in paper and electronic form) of all Company documents and data and all
Company property, including without limitation, personal computers, laptops, fax
machines, scanners, copiers, cellular phones, Company credit cards and telephone
charge cards, manuals, building keys and passes, courtesy parking passes,
diskettes, intangible information stored on diskettes, software programs and
data compiled with the use of those programs, software passwords or codes,
tangible copies of trade secrets and confidential information, sales forecasts,
names and addresses of Company customers and potential customers, customer
lists, customer contacts, sales information, sales forecasts, memoranda, sales
brochures, business or marketing plans, reports, projections, and all other
information or property held or used by Employee in connection with Employee’s
employment with the Company.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    7. General Release of
Claims.

     

    (a)           In
exchange for the Release Consideration, Employee, on behalf of Employee and
Employee’s spouse, heirs, executors, administrators, trustees, legal
representatives, and assigns, hereby releases, indemnifies, holds harmless and
forever discharges the Company, its predecessors and successors, its past and
present parent corporations, divisions, subsidiaries, and affiliates, and the
past and present officers, directors, employees, consultants, shareholders,
partners, benefit plans, attorneys, agents, and assigns of any of them (any or
all of which are referred to as the “Releasees”), from any and all claims,
demands, liabilities, actions, and causes of action of every name and nature,
whether known or unknown, that Employee now has or ever had from the beginning
of the world to Effective Date or that arise out of or relate to Employee’s
employment by or separation from employment with the Releasees or any of
them.  This general release of claims is intended by Employee to be
all encompassing and to act as a full and total release of any legally available
claims, whether specifically enumerated herein or not, that Employee may have or
may have had against the Releasees arising from conduct occurring up to and
through the Effective Date of this Agreement, including but not limited to any
and all claims under local, state or federal law for wrongful discharge,
wrongful termination, or wrongful dismissal; any and all claims for breach of an
express or implied contract, covenant, or agreement; any and all claims for
unlawful discrimination or harassment (including but not limited to claims
alleged based on race, sex, sexual preference or sexual orientation, marital
status, pregnancy, religion, creed, age, handicap, disability, national origin,
ethnic heritage, ancestry, veteran status, retaliation, or any other protected
classification protected by local, state, or federal law); any and all claims
for violation of any fair employment practice law, including the Age
Discrimination in Employment Act, 29 U.S.C. §621 et seq.; any and all
claims under the Family and Medical Leave Act or any other federal or state law
concerning leaves of absence; any and all claims under the Worker Adjustment and
Retraining Notification (“WARN”) Act or any other local, state, or federal law;
any and all claims under the Employee Retirement Income Security Act (other than
claims against an employee benefit plan seeking payment of a vested benefit
under the terms of that plan); any and all claims for infliction of emotional
distress; any and all claims for defamation; any and all claims for invasion of
any right of privacy; any and all negligence claims; any and all tort claims;
any and all statutory claims; any and all constitutional claims; any and all
claims for violation of  any civil rights; any and all claims for
reinstatement or reemployment by the Releasees; any and all claims for wages,
bonuses, incentive compensation, equity compensation, stock payments or
appraisal rights, phantom stock payments, or other compensation or benefits, and
any and all claims for compensatory or punitive damages, interest, attorney’s
fees, or costs, including costs and fees already incurred.

     

    (b)           This
release shall not be construed to impair Employee’s right to enforce the terms
of this Agreement, the Stock Option Agreements or the RSUs specified in Section
4(a)(i) and (ii).  This release shall terminate that certain Amended
and Restated Change-in-Control Severance Agreement, dated as of December 21,
2009, by and between the Company and the Employee.

     

    (c)           This
release does not include any claim which, as a matter of law, cannot be released
by private agreement.  Nor does this release prohibit or bar Employee
from providing truthful testimony in any legal proceeding or from cooperating
with, or making truthful disclosures to, any local, state, or federal
governmental agency.  Notwithstanding the foregoing, with respect to
any claim that cannot be released by private agreement, Employee agrees to
release and waive Employee’s right (if any) to any monetary damages or other
recovery as to such claims, including any claims brought on Employee’s behalf,
either individually or as part of a collective action, by any governmental
agency or other third party.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (d)           This
release shall not preclude Employee from submitting claims for coverage for any
claims asserted against Employee as a result of actions or omissions in the
course of Employee’s non-negligent duties during Employee’s employment with the
Company.

     

    8. Non-Filing of
Claims.  Employee represents and warrants that Employee has not
filed any complaints, charges or claims for relief against any of the Releasees
with any local, state or federal court or administrative agency.

     

    9. Confidentiality of
Agreement.  Employee agrees to keep the terms of this Agreement
and amount of post-termination consideration provided completely confidential,
and not to disclose any such matters to anyone, in words or in substance, except
as set forth in this Section 9.  Employee may disclose the terms of
and consideration under this Agreement (a) to Employee’s spouse, attorney,
and/or accountant, provided
that Employee shall first obtain any such person’s written agreement to
keep any such matters completely confidential and not to disclose any such
matters to anyone; (b) to the extent required by law or to the extent necessary
to enforce Employee’s rights under this Agreement; and (c) to the extent
permitted under Section 7(c).

     

    10. Non-Disparagement.  Except
as permitted by Section 7(c), Employee agrees not to make any direct or indirect
statement, written or oral, which disparages the Company, its products or
services, or any of its directors, officers, employees, or agents, or take any
action or conduct himself in any way that adversely affects the reputation or
goodwill of the Company, its products or services, or any of its directors,
officers, employees or agents.  Employee further agrees not to
communicate with any of the Company’s directors, analysts or investors without
prior written approval from William Styslinger.

     

    11. Cooperation.  Employee
hereby agrees to provide any and all necessary assistance to and cooperation
with the Company if called upon by it with regard to: (i) the transition of
Employee’s job responsibilities, (ii) any lawsuit, claim, action, investigation,
administrative review or otherwise that may be brought by a third party against
the Company and which may involve facts or knowledge of which Employee may be
aware as a result of Employee’s employment or position with the Company, and
(iii) any other reasonable requests for information or assistance made by the
Company through the one-year anniversary of the Separation Date.

     

    12. Waiver of Rights and Claims
Under the Age Discrimination in Employment Act.  Because
Employee is forty (40) years of age or older, Employee is protected against age
discrimination by the federal Age Discrimination in Employment
Act.  Employee has or may have specific rights and/or claims under the
Age Discrimination in Employment Act of 1967 (ADEA) and the Employee agrees
that:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (a)           In
consideration for the amounts described in Section 4(a) and 4(b) of this
Agreement, which Employee is not otherwise entitled to receive, Employee
specifically and voluntarily waives such rights and/or claims under the ADEA, as
amended by the Older Workers Benefit Protection Act, that Employee might have
against the Company Releasees to the extent such rights and/or claims arose
prior to the date this Agreement was executed.

     

    (b)           Employee
understands that rights or claims under the ADEA which may arise after the date
this Agreement is executed are not waived by Employee.

     

    (c)           The
Company has advised Employee that Employee has at least twenty-one (21) days
within which to consider the terms of this Agreement (including all Exhibits)
and to consult with or seek advice from an attorney of Employee’s choice prior
to executing this Agreement.  If Employee signs this Agreement in
fewer than twenty-one (21) days, Employee acknowledges that the decision was
entirely voluntary and that Employee was given the full twenty-one (21) days to
consider the Agreement.  If Employee does not sign this Agreement and
return it to the Company within twenty-one (21) days, the offer contained herein
shall be null and void.

    

    (d)           The
twenty-one (21) day review period will not be affected or extended by any
revisions, whether material or immaterial, that might be made to this
Agreement.

     

    (e)           Employee
understands that Employee may revoke this Agreement for a period of seven (7)
days after signing this Agreement, and that it shall not be effective or
enforceable until the expiration of this seven (7) day Revocation
Period.  To revoke this Agreement, a written notice of revocation must
be received by Human Resources at the Company within the 7-day revocation
period.

     

    (f)           Employee
has carefully read and fully understood all of the provisions of this Agreement,
and Employee knowingly and voluntarily agrees to all of the terms set forth in
this Agreement; and

     

    (g)           In
entering into this Agreement Employee is not relying on any representation,
promise or inducement made by the Company or its attorneys with the exception of
those promises described in this document.

     

    13. Binding Nature of
Agreement.  This Agreement shall be binding on and inure to the
benefit of Employee and Employee’s heirs, administrators, representatives, and
executors.  Employee’s obligations under this Agreement are personal
and may not be assigned. The Company may assign its rights and obligations under
this Agreement.  This Agreement shall be binding upon and inure to the
benefit of the Company and its successors and assigns.

     

    14. Use of the Agreement as
Evidence; Liability.  This Agreement may not be used as
evidence in any proceeding of any kind, except a proceeding in which one of the
parties or a Releasee alleges a breach of the terms of this Agreement or elects
to use this Agreement as a defense to any claim.  This Agreement shall
not constitute an admission or acknowledgment of liability or wrongdoing on the
part of any or all of the Releasees.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    15. Nondisclosure and
Noncompetition Obligations.  Regardless of whether Employee
signs this Agreement, the Employee Noncompetition, Nondisclosure and
Developments Agreement with the Company (the “Noncompetition Agreement”), which
is attached hereto as Exhibit A shall remain in full force and effect following
the Separation Date.  Employee represents and acknowledges that he has
at all times complied with the Noncompetition Agreement, and will continue to do
so following the Separation Date.  Employee also acknowledges that,
with respect to any invention, modification, discovery, design, development,
improvement, process, software program, work of authorship, documentation,
formula, data, technique, know-how, trade secret or intellectual property right
whatsoever or any interest therein (whether or not patentable or registrable
under copyright, trademark or similar statutes or subject to analogous
protection) (herein called “Developments”) which Employee made, conceived,
created, discovered, invented or reduced to practice (either alone or with
others) at any time during his employment with the Company that (i) relates to
the business of the Company or any customer of or supplier to the Company or any
of the products or services being developed, manufactured or sold by the Company
or which may be used in relation therewith, (ii) results from tasks assigned
Employee by the Company or (iii) results from the use of premises or personal
property (whether tangible or intangible) owned, leased or contracted for by the
Company, he agrees and represents that:

     

    1. such
Developments and the benefits thereof are the sole and absolute property of the
Company and its assigns, as works made for hire or otherwise;

     

    2. he has
promptly disclosed to the Company (or any persons designed by it) each such
Development;

     

    3. as may be
necessary to ensure the Company’s ownership of such Developments, Employee has
assigned, or will assign by the Separation Date, any rights (including, but not
limited to, any copyrights and trademarks) he may have or acquire in the
Developments and benefits and/or rights resulting therefrom to the Company and
its assigns without further compensation;

     

    4. he has
communicated, or will communicate before the Separation Date, without cost or
delay, and without disclosing to others the same, all available information
relating thereto (with all necessary plans and models) to the Company;
and

     

    5. he will,
during and after the Employment Period, at the request and cost of the Company,
promptly sign, execute, make and do all such deeds, documents, acts and things
as the Company and its duly authorized agents may reasonably require
to:

     

    (i)           apply
for, obtain, register and vest in the name of the Company alone (unless the
Company otherwise directs) letters patent, copyrights, trademarks or other
analogous protection in any country throughout the world and when so obtained or
vested to renew and restore the same; and

     

    (ii)           assist
in the defense of any judicial, opposition or other proceedings in respect of
such applications and any judicial, opposition or other proceedings or petitions
or applications for revocation of such letters patent, copyright, trademark or
other analogous protection.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    16. Consequences of
Breach.  Employee understands and agrees that the Company may
terminate Employee’s eligibility for the Release Consideration if Employee
violates this Agreement or the Noncompetition Agreement, and that the Company
shall further have the right to recover from Employee any Release Consideration
paid to Employee or on Employee’s behalf during any time periods following the
commencement of any such breach.  Employee further agrees that a
breach of Paragraphs 6, 8, 9, 10, 11 and/or 15 herein would result in
irreparable harm to the Company and that money damages would not provide an
adequate remedy.  Therefore, Employee agrees that in addition to any
other rights that it may have, the Company shall have the right to specific
performance and injunctive relief in the event Employee breaches any of those
Paragraphs of this Agreement.

     

    17. Entire Agreement;
Modification. With the exception of the Noncompetition Agreement,
the Stock Option Plans, the Stock Option Agreements and the agreements
evidencing the RSUs, all of which shall remain in full force and effect, this
Agreement is the entire agreement between the Company and Employee and all
previous agreements or promises between them are superseded and
void.  This Agreement may be modified only by a written agreement
signed by Employee and an officer of the Company.

     

    18. Acknowledgements.  By
signing this Agreement, Employee acknowledges that Employee has carefully read
and fully understands this Agreement, Employee is not relying on any
representations by any representative of the Company concerning the meaning of
any aspect of this Agreement, Employee has had twenty-one (21) days to review
this Agreement, and Employee is signing it voluntarily.

     

    19. Governing Law;
Interpretation.  In the event of any dispute, this Agreement
will be construed as a whole, will be interpreted in accordance with its fair
meaning, and will not be construed strictly for or against either Employee or
the Company.  The internal laws of The Commonwealth of Massachusetts,
exclusive of rules and principles of conflicts of law, will govern any dispute
about this Agreement.  If for any reason any part of this Agreement
shall be determined to be unenforceable, the remaining terms and conditions
shall be enforced to the fullest extent possible.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    IN
WITNESS WHEREOF, the parties have executed this Agreement under seal as of the
date last written below.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	 	 	 	 	 	 
	/s/
      Bruce Mann 	 	 	
                                                              October
      19, 2010

                                                            	 
	Bruce
      Mann  	 	 	
                                                              DATE

                                                            	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	SEACHANGE
      INTERNATIONAL, INC. 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Laura
      Watson    	 	 	October 19, 2010 	 
	 	 	 	 	DATE 	 
	Title: 	Senior
      Director, Human Resources 	 	 	 	 
	 	 	 	 	 	 
	By: 	/s/ Kevin M.
    Bisson   	 	 	 	 
	 	 	 	 	 	 
	Title: 	Chief
      Financial Officer, Treasurer, 	 	 	 	 
	Secretary
      and Senior Vice President, Finance and AdministrationUnassociated Document

    

    AGREEMENT
AND PLAN OF MERGER

     

    OF

     

    TRI-MARK
MFG., INC., A CALIFORNIA CORPORATION

     

    AND

     

    TRI-MFG.,
INC. , A DELAWARE CORPORATION

     

    THIS
AGREEMENT AND PLAN OF MERGER (the "Agreement") dated as of
October 15th,  2010, made and entered into by and between Tri-Mark
MFG, Inc., a California ("TRI-Mark California”), and Tri-Mark MFG, Inc., a
Delaware corporation ("Tri-Mark Delaware"), which corporations are sometimes
referred to herein as the "Constituent
Corporations."

     

    WITNESSETH:

     

    WHEREAS,
TRI-Mark California  is a corporation organized and existing under the
laws of the State of California, having been incorporated on December 18, 2006,
under the laws of the State of California under the California Corporation
Code  (the “CCC”); and

     

    WHEREAS,
TRI-Mark Delaware is a wholly-owned subsidiary corporation of Tri-Mark
California, having been incorporated under the laws of the State of Delaware
under the Delaware General Corporation Law (the “DGCL”) on August 10, 2010;
and

     

    WHEREAS,
the respective Boards of Directors of TRI-Mark California and TRI-Mark Delaware
have determined that it is desirable to merge
TRI-Mark  California  with and into TRI-Mark Delaware and
that TRI-Mark Delaware shall be the surviving corporation (the "Merger"); and

     

    WHEREAS,
the parties intend by this Agreement to effect a reorganization under Section
368 of the Internal Revenue Code of 1986, as amended;

    

    NOW,
THEREFORE, in consideration of the mutual covenants and promises contained in
this Agreement, and for other valuable consideration, the receipt and adequacy
of which are hereby acknowledged, and intending to be legally bound, TRI-Mark California and TRI-Mark
Delaware hereto agree as follows:

     

    ARTICLE
I

    MERGER

     

    1.1 On
the effective date of the Merger (the "Effective Date"), as provided
herein, TRI-Mark California shall be merged with and into
TRI-Mark  Delaware,the separate existence of
TRI-Mark  California shall cease and TRI-Mark Delaware (hereinafter
sometimes referred to as the "Surviving Corporation") shall
continue to exist under the name of FTOH Corp. by virtue of, and shall be
governed by, the laws of the State of Delaware. The address of the registered
office of the Surviving Corporation in the State of Delaware will be National
Corporate Research, Ltd., 615 South DuPont Highway, Dover, Delaware
19901.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
II

    CERTIFICATE
OF INCORPORATION OF SURVIVING CORPORATION

    

    2.1 The name of the Surviving
Corporation shall be "FTOH Corp."  The Certificate of Incorporation of
the Surviving Corporation, attached hereto as Exhibit
A, as in effect on the
date hereof, shall be the Certificate of Incorporation of
TRI-Mark  Delaware (the "
TRI-Mark  Delaware Charter") without change, unless and until
amended in accordance with this Agreement or otherwise amended in accordance
with applicable law.Article First of the Certificate of Incorporation of
Tri-Mark – Del shall be amended as follows:

     

    FIRST:
The name of the Corporation is FTOH Corp.

     

    SIXTH:     Article
Fourth of the Certificate of Incorporation of Tri-Mark – Del is hereby amended
as follows:

     

    FOURTH:

     

    A. 
        Classes and Number of
Shares.  The total number of shares of stock that the Corporation
shall have authority to issue is Two HundredMillion (200,000,000).  The
classes and aggregate number of shares of each class which the Corporation shall
have authority to issue are as follows:

     

    1. 
         One Hundred Ninety Million
(190,000,000) shares of common stock, par value $0.0001 per share (the “Common Stock”);
and

     

    2. 
         Ten Million (10,000,000)
shares of preferred stock, par value $0.0001 per share (the “Preferred
Stock”).

     

    B. 
         Blank Check
Powers.  The Corporation may issue any class of the Preferred Stock
in any series.  The Board of Directors shall have authority to establish
and designate series, and to fix the number of shares included in each such
series and the variations in the relative rights, preferences and limitations as
between series, provided that, if the stated dividends and amounts payable on
liquidation are not paid in full, the shares of all series of the same class
shall share ratably in the payment of dividends including accumulations, if any,
in accordance with the sums which would be payable on such shares if all
dividends were declared and paid in full, and in any distribution of assets
other than by way of dividends in accordance with the sums which would be
payable on such distribution if all sums payable were discharged in full. 
Shares of each such series when issued shall be designated to distinguish the
shares of each series from shares of all other series.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
III

    BYLAWS
OF THE SURVIVING CORPORATION

     

    3.1 The
Bylaws of the Surviving Corporation, as in effect on the date hereof shall be
the Bylaws of TRI-Mark Delaware (the "TRI-MarkBylaws") without
change, unless and until amended in accordance with Article VIII of this
Agreement or otherwise amended in accordance with applicable law.

     

    ARTICLE
IV

    EFFECT
OF MERGER ON STOCK OF CONSTITUENT CORPORATIONS

     

    4.1 On
the Effective Date, the holders of the common stock of Tri-Mark California shall
receive 8.344159089 shares of common stock of Tri-Mark Delaware (“Tri-Mark Common Stock”)as
consideration and in exchange for each one share of common stock of Tri-Mark
California and shall have no further claims of any kind or nature; and all of
the common stock of Tri-Mark Delaware held by Tri-Mark California shall be
surrendered and canceled.

     

    ARTICLE
V

    CORPORATE
EXISTENCE, POWERS AND LIABILITIES OF THE SURVIVING

    CORPORATION

     

    5.1 On
the Effective Date, the separate existence of Tri-Mark
California  shall cease.  Tri-Mark California shall be merged
with and into Tri-Mark Delaware, the Surviving Corporation, in accordance with
the provisions of this Agreement. Thereafter, Tri-Mark Delaware shall possess
all the rights, privileges, powers and franchises of a public as well as of a
private nature, and shall be subject to all the restrictions, disabilities and
duties of each of the parties to this Agreement; all singular rights,
privileges, powers and franchises of Tri-Mark California and Tri-Mark Delaware,
and all property, real, personal and mixed and all debts due to each of them on
whatever account, shall be vested in Tri-Mark Delaware; and all property,
rights, privileges, powers and franchises, and all and every other interest
shall be thereafter the property of Tri-Mark Delaware, the Surviving
Corporation, as they were of the respective constituent entities, and the title
to any real estate, whether by deed or otherwise, vested in Tri-Mark California
and Tri-Mark Delaware, or either of them, shall not revert or be in any way
impaired by reason of the Merger, but all rights of creditors and all liens upon
the property of the parties hereto, shall be preserved unimpaired, and all
debts, liabilities and duties of Tri-Mark California shall thenceforth attach to
Tri-Mark Delaware, and may be enforced against it to the same extent as if said
debts, liabilities and duties had been incurred or contracted by
it.

     

    5.2
Tri-Mark California agrees that it will execute and deliver, or cause to be
executed and delivered, all such deeds and other instruments and will take or
cause to be taken such further or other action as the Surviving Corporation may
deem necessary in order to vest in and confirm to the Surviving Corporation
title to and possession of all the property, rights, privileges, immunities,
powers, purposes and franchises, and all and every other interest of
Tri-Mark  California and otherwise to carry out the intent and
purposes of this Agreement.

     

    ARTICLE
VI

    OFFICERS
AND DIRECTORS OF SURVIVING CORPORATION

     

    6.1 Upon
the Effective Date, the officers and directors of Tri-Mark California shall
resign and shall not be officers and directors of  Tri-Mark California
or Tri-Mark  Delaware.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    6.2 If
upon the Effective Date, a vacancy shall exist in the Board of Directors of the
Surviving Corporation, such vacancy shall be filled in the manner provided by
the Tri-Mark Delaware Bylaws.

     

    ARTICLE
VII

    DISSENTING
SHARES

     

    7.1
Holders of shares of Tri-Mark  California Common Stock who have
complied with all requirements for perfecting their rights of appraisal as
required in the CCC shall be entitled to their rights under
California  law with payments to be made by the Surviving
Corporation.

     

    ARTICLE
VIII

    APPROVAL
BY SHAREHOLDERS, EFFECTIVE DATE, CONDUCT OF BUSINESS

    PRIOR
TO EFFECTIVE DATE

     

    8.1
Promptly after the approval of this Agreement by the requisite number of
shareholders of Tri-Mark California, the respective Boards of Directors of
Tri-Mark California and Tri-Mark Delaware will cause their duly authorized
officers to make and execute Certificate of Ownership and Merger or other
applicable certificates or documentation effecting this Agreement and shall
cause the same to be filed with the Secretaries of State of California and
Delaware, respectively, in accordance with the CCC and the DGCL. The Effective
Date shall be the date on which the Certificate of Merger is filed with the
Secretary of State of Delaware and the Secretary of State of
California.

     

    8.2 The
Boards of Directors of Tri-Mark California and Tri-Mark Delaware may amend this
Agreement and the Tri-Mark Delaware Charter or Tri-Mark Delaware Bylaws at any
time prior to the Effective Date, provided that an amendment made subsequent to
the approval of the Merger by the shareholders of Tri-Mark  California
may not (i) change the amount or kind of shares to be received in exchange for
the Tri-Mark California Common Stock; or (ii) alter or change any of the terms
and conditions of this Agreement or the Tri-Mark Delaware Charter or Tri-Mark
Delaware Bylaws if such change would adversely affect the holders of the EGT
Common Stock.

     

    ARTICLE
IX

    TERMINATION
OF MERGER

     

    9.1 This
Agreement may be terminated and the Merger abandoned at any time prior to the
Effective Date, whether before or after shareholder approval of this Agreement,
by the consent of the Board of Directors of
Tri-Mark  California  and
Tri-Mark  Delaware.

     

    ARTICLE
X

    MISCELLANEOUS

     

    10.1
GOVERNING LAW. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without reference to its principles of
conflicts of law.

     

    10.2
EXPENSES. If the Merger becomes effective, the Surviving Corporation shall
assume and pay all expenses in connection therewith not theretofore paid by the
respective parties. If for any reason the Merger shall not become effective,
Tri-Mark  California shall pay all expenses incurred in connection
with all the proceedings taken in respect of this Merger Agreement or relating
thereto.

    

    10.3
AGREEMENT. An executed copy of this Merger Agreement will be on file at the
principal place of business of the Surviving Corporation at  101
Middlesex Turnpike, Burlington, MA 01803 and, upon request and without cost, a
copy thereof will be furnished to any shareholder.

     

    10.4
COUNTERPARTS. This Merger Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original and all of which
together shall constitute one and the same instrument.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed as of the day and year
first above written.

    

    
      
        
          	
                  TRI-MARK
      MFG, INC. ,

                
	
                  a
      Delaware corporation

                
	 
      	 
      
	
                  By:

                	
                  /s/ Glenn Kesner

                
	 
      	
                  Glenn
      Kesner, Chief Executive Officer

                
	 
      	 
      
	
                  TRI-MARK
      MFG, INC.,

                
	
                  a
      California corporation

                
	 
      	 
      
	
                  By:

                	
                  /s/ Barry Sytner

                
	 
      	
                  Barry
      Sytner, Chief Executive
Officer

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