Document:

Exhibit
10.10

 

AMENDED
AND RESTATED

STOCK
OPTION AWARD AGREEMENT

UNDER
THE

THOMPSON
CREEK METALS COMPANY INC. 

2010 LONG-TERM INCENTIVE PLAN

 

	
  Name of Participant:

  	
   

  	
  [Name]

  
	
   

  	
   

  	
   

  
	
  Total Number of Shares Subject
  to the Option:

  	
   

  	
  [     ] shares of common stock of the Company
  (the “Shares”)

  
	
   

  	
   

  	
   

  
	
  Exercise Price Per Share:

  	
   

  	
  [     ]

  
	
   

  	
   

  	
   

  
	
  Award Date:

  	
   

  	
  [     ]

  
	
   

  	
   

  	
   

  
	
  Type of Option:

  	
   

  	
  Nonqualified Stock Option

  
	
   

  	
   

  	
   

  
	
  Vesting Schedule:

  	
   

  	
  One-Third (1/3) of the
  Shares subject to the Option will vest immediately on the Award Date and
  One-Third (1/3) of the Shares subject to the Option will vest on the second
  and third anniversaries of the Award Date, respectively, subject to you
  remaining continuously employed or in service to the Company on each such
  date, as described below:

   

                   Shares to vest on   [             ]

                   Shares to vest on   [            
  ]

                   Shares to vest on   [             ]

  
	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
  [     ]

  

 

This
Amended and Restated Stock
Option Award Agreement (the “Agreement”) is between Thompson Creek
Metals Company Inc. (the “Company”), and you, the Participant named
above [and supersedes the Stock Option Award
Agreement, dated         
      , 2010, between the Company and you].  The Company wishes to grant to you an Option,
subject to vesting and certain other restrictions as provided in this
Agreement, under the Thompson Creek Metals Company Inc. 2010 Long-Term
Incentive Plan, as the same may be amended from time to time (the “Plan”).  Accordingly, for good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the
Company and you hereby agree as follows:

 

1.             Award of Option. The Company hereby grants to
you, effective as of the Award Date, an Option (the “Option”) to
purchase any part or all of an aggregate of the number of Shares set forth
above under “Total Number of Shares Subject to the Option,” upon the terms and
conditions set forth in the Plan and this Agreement (as described herein, the “Award”).

 

1

 

2.             Vesting and Exercisability; Termination of Employment
or Service to the Company.

 

(a)           The Option shall become vested and exercisable in such
amounts and at such times as are set forth above under “Vesting Schedule”.  The installments provided for in the vesting
schedule set forth above are cumulative. 
Each such installment which becomes vested and exercisable pursuant to
the vesting schedule set forth above shall remain vested and exercisable until
it becomes unexercisable under Section 2(c) or Section 3 of this Agreement.

 

(b)           In the event of a Change of Control, the Administrator may
determine, in its sole and absolute discretion, that any of the following may
occur:

 

(i)                                     the Award may
be assumed, converted or replaced by the successor or acquiring corporation (if
any), which assumption, conversion or replacement will be binding on you;

 

(ii)                                  the successor
or acquiring corporation may substitute equivalent awards or provide
substantially similar consideration, shares or other property subject to
repurchase restrictions and other provisions no less favorable to you than
those which applied to the Award immediately prior to such Change of Control;
or

 

(iii)                               the vesting and
settlement of the Award may be accelerated.

 

Notwithstanding
the foregoing, in the event such successor or acquiring corporation (if any)
refuses to assume, convert, replace or substitute the Award, as provided above,
the vesting of the Award shall be accelerated upon a Change of Control.  For purposes of this Section 2(b), the last
paragraph of the definition of “Change of Control” in Section 2(h) of the Plan
shall be disregarded.

 

(c)           Upon a termination of your employment (or other service to
the Company, if applicable) for any reason (except as provided in the following
sentence), you will forfeit the portion of the Option that is unvested at the
time of termination, without any consideration due to you.  Notwithstanding the foregoing sentence, in
the event of your termination due to retirement on or after age 62 or
termination due to death or total and permanent disability (evidenced by
receipt of disability benefits under a Company-sponsored disability plan), the
Option shall be vested and fully exercisable as of such termination date.  The portion of the Option that is vested at
the time of termination, if any, will remain exercisable for the time periods
set forth in Section 3 below.  The term “employment”
for purposes of this Agreement, means the performance of services for the
Company or an Affiliate as an employee for federal income tax purposes.  You shall be deemed to have terminated
employment either upon an actual termination of your performing services for
the Company or an Affiliate, or at the time that the Affiliate with which you
are employed ceases to be an “Affiliate” under the terms of the Plan.  Your employment with the Company or an
Affiliate shall not be deemed to have terminated if you take any military
leave, sick leave, or other bona fide leave of absence approved by the Company
or the Affiliate, as applicable, regardless of whether pay is suspended during
such leave.  Whether you have experienced
a termination of employment will be determined by the Compensation and
Governance Committee of the Board of Directors (the “Committee”), in its
sole discretion.

 

3.             Expiration of Option. The Option may not be
exercised to any extent by anyone after, and shall be cancelled upon, the first
to occur of the following events:

 

(a)           The Expiration Date set forth above;

 

2

 

(b)           The expiration of three (3) months from the date of a
termination of your employment by the Company or an Affiliate (or other
termination of service to the Company, if applicable) for any reason other than
for Cause or death or total and permanent disability (as defined below);

 

(c)           The expiration of twelve (12) months from the date of a
termination of your employment by reason of your death or total and permanent
disability (evidenced by receipt of disability benefits under a Company-sponsored
disability plan); or

 

(d)           The date your employment or service with the Company or an
Affiliate terminates by reason of a termination for Cause.

 

4.             Exercise of the Option.

 

(a)           Persons Eligible to Exercise.  During your lifetime, only you (or your permitted
transferee, as described in Section 7 below) may exercise the Option or any
portion thereof. After your death, any exercisable portion of the Option may,
prior to the time when the Option becomes unexercisable under Section 2(c) or
Section 3 of this Agreement, be exercised by your personal representative or by
any person empowered to do so under your will or under the then applicable laws
of descent and distribution.

 

(b)           Partial Exercise. 
Any exercisable portion of the Option or the entire Option, if then
wholly exercisable, may be exercised in whole or in part at any time prior to
the time when the Option or portion thereof becomes unexercisable under Section
2(c) or Section 3 of this Agreement.  The
Option shall not be exercised for fractional Shares.

 

(c)           Manner of Exercise. The Option, or any exercisable
portion thereof, may be exercised solely by delivery to the Plan’s
administrator (currently Solium Capital) of all of the following prior to the
time when the Option or such portion thereof becomes unexercisable under
Section 2(c) or Section 3 of this Agreement:

 

(i)            An exercise notice electronically or in writing signed by
you or any other person then entitled to exercise the Option or portion
thereof, stating that the Option or portion thereof is thereby exercised, such
notice complying with all applicable rules established by the Committee. Such
notice shall be substantially in the form attached as Exhibit A to this
Agreement (or such other form as is prescribed by the Committee);

 

(ii)           The receipt by the Company of full payment for the Shares
with respect to which the Option or portion thereof is exercised, including
payment of any applicable withholding taxes, which may be in one or more of the
forms of consideration permitted under Section 5; and

 

(iii)          In the event the Option or portion thereof shall be
exercised under Section 4(a) by any person or persons other than you,
appropriate proof of the right of such person or persons to exercise the
Option.

 

5.             Method of Payment. Payment of the Exercise Price
shall be by any of the following, or a combination thereof:

 

(a)           by cash, check, or other cash equivalent approved by the
Committee; or

 

3

 

(b)           by the tendering of other Shares to the Company in exchange
for the Company’s reducing the number of Shares issuable upon the exercise of
the Option.

 

The
Committee shall determine acceptable methods for tendering Shares to exercise
an Option under the Plan and may impose such limitations and prohibitions on the
use of Shares to exercise Options as it deems appropriate.  Tendering of previously owned Shares shall
not be available to optionholders who are Canadian taxpayers.

 

6.                 Conditions to Issuance of Shares. The Company
shall not be required to issue or deliver any Shares purchased upon the
exercise of the Option or portion thereof prior to (i) the receipt by the
Company of full payment for such Shares, including payment of any applicable
withholding tax, which, in the discretion of the Committee, may be in one or
more of the forms of consideration permitted under Section 5, and (ii) the
satisfaction of the Company of any of the conditions or requirements set forth
in Section 10(c) of this Agreement.

 

7.                 Rights as Stockholder. You shall not be, nor
have any of the rights or privileges of, a stockholder of the Company in
respect of any Shares purchasable upon the exercise of any part of the Option
unless and until such Shares shall have been issued by the Company to you (as
evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company). 
No adjustment will be made for a dividend or other right for which the
record date is prior to the date the Shares are issued.

 

8.                 Transferability.  The Option may not be sold, pledged, assigned
or transferred in any manner unless and until the Shares underlying the Option
have been issued and all restrictions applicable to such Shares have lapsed.
Notwithstanding the foregoing, the Option may be transferred (a) by will or the
laws of descent and distribution or (b) in the Committee’s discretion to a
person or trust or partnership designated by you, only if, in each case, the
transferee executes a written consent to be bound by the terms of this
Agreement.  Except as described in this
Section 8, neither the Option nor any interest or right therein shall be liable
for your debts, contracts or engagements or your successors in interest or
shall be subject to disposition by transfer, alienation, anticipation, pledge,
encumbrance, assignment or any other means whether such disposition be
voluntary or involuntary or by operation of law by judgment, levy, attachment,
garnishment or any other legal or equitable proceedings (including bankruptcy),
and any attempted disposition thereof shall be null and void and of no effect.

 

9.             Taxes.

 

(a)           You acknowledge  that
you will consult with your personal tax advisor regarding the federal, state,
and local tax consequences of the Award and/or exercise of the Option and any
other matters related to the Option.  You
are relying solely on your advisors and not on any statements or
representations of the Company or any of its agents, and you understand that
you are responsible for your own tax liability that may arise as a result of
the Option or any other matters related to the Option and this Agreement.

 

10.               General Provisions.

 

(a)           Interpretations. 
This Agreement is subject in all respects to the terms of the Plan.  A copy of the Plan is available upon your
request.  Terms used herein which are defined
in the Plan shall have the respective meanings given to such terms in the Plan,
unless otherwise defined herein.  In the
event that any provision of this Agreement is inconsistent with the terms of
the Plan, the terms of the Plan shall govern. 
Any question of administration or interpretation arising under this
Agreement shall 

 

4

 

be determined by the Committee administering the
Plan, and such determination shall be final, conclusive and binding upon all
parties in interest.

 

(b)           No Right to Employment or Continued Service.  In consideration of the grant of the Option
by the Company, you agree to render faithful and efficient services to the
Company and its Affiliates. Nothing in the Plan or this Award Agreement shall
confer upon you any right to continue in the employ or service of the Company
or any Affiliate or shall interfere with or restrict in any way the rights of
the Company and its Affiliates, which rights are hereby expressly reserved, to
discharge or terminate your services at any time for any reason whatsoever,
with or without Cause (as defined in the Plan), except to the extent expressly
provided otherwise by applicable law or in a written agreement between you and
the Company or its Affiliates.

 

(c)           Securities Matters. 
The Company shall not be required to issue or deliver any Shares until
the requirements of any federal or state securities or other laws, rules or
regulations (including the rules of any securities exchange) as may be
determined by the Company to be applicable are satisfied.  You acknowledge that the Plan is intended to
conform to the extent necessary with all provisions of the Securities Act and
the Exchange Act and any and all regulations and rules promulgated by the
Securities and Exchange Commission thereunder, and state securities laws and
regulations. Notwithstanding anything herein to the contrary, the Plan shall be
administered, and the Shares are granted, only in such a manner as to conform
to such laws, rules and regulations. To the extent permitted by applicable law,
the Plan and this Agreement shall be deemed amended to the extent necessary to
conform to such laws, rules and regulations.

 

(d)           Headings. 
Headings are given to the sections and subsections of this Agreement
solely as a convenience to facilitate reference.  Such headings shall not be deemed in any way
material or relevant to the construction or interpretation of this Agreement or
any provision hereof.

 

(e)           Saving Clause. 
If any provision(s) of this Agreement shall be determined to be illegal
or unenforceable, such determination shall in no manner affect the legality or
enforceability of any other provision hereof.

 

(f)            Section 409A. 
It is intended that this grant will be exempt from Section 409A of the
Internal Revenue Code as a “stock right”. 
This Award Agreement and all related documentation are designed, and
shall be interpreted and administered, to this effect.  However, nothing in the Agreement shall be
construed to result in a guarantee of this tax treatment, and you shall be
responsible for all of your federal, state and local taxes (and any related
liabilities). This Section 10(f) does not create an obligation on the part of
the Company to modify the Plan or this Agreement and does not guarantee that
the Option or the Shares delivered hereunder will not be subject to taxes,
interest and penalties under Section 409A.

 

(g)           Governing Law. 
The internal law, and not the law of conflicts, of the State of Colorado
will govern all questions concerning the validity, construction and effect of
this Agreement.  All actions or
proceedings arising out of, or related to, this Agreement shall be brought only
in an appropriate federal or state court in Colorado and the parties hereby
consent to the jurisdiction of such courts over themselves and the subject
matter of such actions or proceedings.

 

5

 

(h)           Notices.  You
should send all written notices regarding this Agreement or the Plan to the
Company at the following address:

 

Thompson Creek Metals Company Inc.

26
West Dry Creek Circle, Suite 810

Littleton, CO 80120

Attn:   General Counsel

 

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

 

(j)            Benefit and Binding Effect.  This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto, their respective successors,
permitted assigns, and legal representatives. 
The Company has the right to assign this Agreement, and such assignee
shall become entitled to all the rights of the Company hereunder to the extent
of such assignment.

 

IN WITNESS WHEREOF, the Company by one of its duly
authorized officers has executed this Agreement as of the day and year first
above written.

 

	
   

  	
  THOMPSON CREEK METALS
  COMPANY INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
   

  

 

Please
indicate your acceptance of the terms and conditions of this Agreement by
signing in the space provided below and returning a signed copy of this
Agreement to the Company. IF A FULLY EXECUTED COPY OF THIS AGREEMENT HAS NOT
BEEN RECEIVED BY THE COMPANY, THE COMPANY SHALL REVOKE ALL OPTIONS GRANTED TO
YOU, AND AVOID ALL OBLIGATIONS UNDER THIS AGREEMENT.

 

The
undersigned hereby accepts, and agrees to, all terms and provisions of this
Agreement.

 

 

	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  [Name]

  

 

6

 

EXHIBIT
A

 

To
Stock Option Award Agreement

Form of
Exercise Notice

 

Effective as of today,
                          ,
20      , I, the undersigned, hereby elect to
exercise the option to purchase the number of shares of common stock specified
below (the “Shares”) of Thompson Creek Metals Company Inc. (the “Company”),
under and pursuant to the Thompson Creek Metals Company Inc. 2010 Long-Term
Incentive Plan (the “Plan”) and the Stock Option Award Agreement dated
as of
                          
(the “Option Agreement”). Capitalized terms used herein without
definition shall have the meanings given in the Plan and, if not defined in the
Plan, the Option Agreement.

 

	
  Award Date:

  	
   

  	
                                                  

  
	
   

  	
   

  	
   

  
	
  Number of Shares as to which
  Option is Exercised:

  	
   

  	
                                                  

  
	
   

  	
   

  	
   

  
	
  Exercise Price per Share:

  	
   

  	
                                                  

  
	
   

  	
   

  	
   

  
	
  Total Exercise Price:

  	
   

  	
                                                  

  
	
   

  	
   

  	
   

  
	
  Payment delivered:

  (Representing
  herewith:  the full Exercise Price for
  the Shares, as well as any applicable withholding tax)

  	
   

  	
  $                                              

  
	
   

  	
   

  	
   

  
	
  Form of Payment:

  	
   

  	
  (Please
  Specify)

  

 

I acknowledge that I have
received, read and understood the Plan and the Option Agreement. I agree to
abide by and be bound by their terms and conditions.  I understand that I may suffer adverse tax
consequences as a result of my purchase or disposition of the Shares. I
represent that I have consulted with any tax consultants that I deem advisable
in connection with the purchase or disposition of the Shares and that I am not relying
on the Company for any tax advice. The Plan and Option Agreement are
incorporated herein by reference. This Agreement, the Plan and the Option
Agreement constitute the entire agreement of the parties and supersede in their
entirety all prior undertakings and agreements of the Company and me with
respect to the subject matter hereof.

 

DATED this                        day
of                                ,
20         .

 

	
  By:

  	
   

  	
  Accepted:

  
	
   

  	
   

  	
   

  
	
   

  	
   (Please Print)

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized
  Company Representative

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature

  	
   

  	
  Title

  
				

 

7Exhibit
10.61

 

SEPARATION AGREEMENT AND RELEASE OF CLAIMS

James D. Anderson

 

I.              Definitions.  I intend all words used in this Separation
Agreement and Release of Claims (“Agreement”) to have their plain meanings in
ordinary English.  Specific terms that I
use in this Agreement have the following meanings:

 

A.                                   I, me,
and my include both me (James D. Anderson) and anyone who has or obtains
any legal rights or claims through me.

 

B.                                     Analysts
International means Analysts International Corporation and any
related or affiliated business entities in the present or past, including
without limitation, its or their predecessors, successors, parents,
subsidiaries, affiliates, joint venture partners, and divisions.

 

C.                                     Company means Analysts
International; the present and past Board of Directors, shareholders, officers
and employees of Analysts International; Analysts International’s insurers; and
anyone who acted on behalf of Analysts International or on instructions from
Analysts International.

 

D.                                    Employment
Agreements means all of the following, collectively:

 

1.                                       the Employment
Agreement between the Company and myself that I signed on September 1,
2009 (the “September 1, 2009 Employment Agreement”; and

 

2.                                       the Change of
Control Agreement attached to the September 1, 2009 Employment Agreement
as Exhibit A; and

 

3.                                       the letter
agreement between myself and the Company (dated March 30, 2010 and signed
by me on April 9, 2010) which supplemented and modified the September 1,
2009 Employment Agreement (the “Letter Agreement”); and

 

4.                                       the attachments
to the Letter Agreement (including the “Regional Executive Incentive Plan v.1.1”).

 

E.                                      My Claims means any and all claims, actions, rights, causes
of action and demands, known or unknown, arising at law, in equity, or
otherwise, from the beginning of time and continuing through and up to the date
on which I sign this Agreement, which I have or may have against the Company, including
without limitation:

 

1.                                       all claims
arising out of or relating to my employment with Analysts International or the
termination of that employment, including but not limited to any claims  based on, relating to or arising out of my Employment
Agreements or any of them; and 

 

 

2.                                       all claims
arising out of or relating to the statements, actions or omissions of the
Company; and

 

3.                                       all claims for
any alleged unlawful discrimination, harassment, retaliation or reprisal, or
other alleged unlawful practices arising under any federal, state, or local statute,
ordinance, or regulation, including without limitation claims under Title VII
of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et  seq.; the
Age Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act of 1990, 42 U.S.C. § 2000e et seq.; the
Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.;  the Civil
Rights Act of 1866, 42 U.S.C. § 1981; the Civil Rights Act of 1991, 42 U.S.C. §
1981a; the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq.;
the National Labor Relations Act, 29 U.S.C. § 151 et seq.;
the Fair Credit Reporting Act, 15 U.S.C. §§ 1681 et seq.;
the Sarbanes-Oxley Act, 15 U.S.C. § 7201 et seq.; the
Genetic Information Nondiscrimination Act of 2008, Pub. L. No. 110-233,
122 Stat. 881 (codified as amended in scattered sections of 29 U.S.C. and 42
U.S.C.); the Employee Retirement Income Security Act (except for any vested
claim for benefits under a qualified retirement plan that may be brought
pursuant to 502(a)(1)(B) of ERISA), 29 U.S.C. § 1001 et seq.;
the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101 et seq.; the Equal Pay Act (codified in scattered sections
of 29 U.S.C.); the Minnesota Human Rights Act, Minn. Stat. § 363A.01 et seq.; any applicable local human rights ordinance; and
any claim arising under Minn. Stat. Chapters 177 and 181; and

 

4.                                       all claims for
alleged wrongful discharge; breach of contract; breach of implied contract;
failure to keep any promise; breach of a covenant of good faith and fair
dealing; breach of fiduciary duty; estoppel; my activities, if any, as a “whistleblower”;
defamation; infliction of emotional distress; fraud; misrepresentation;
negligence; harassment; retaliation or reprisal; constructive discharge;
assault; battery; false imprisonment; invasion of privacy; interference with
contractual or business relationships; any other wrongful employment practices;
and violation of any other principle of common law; and

 

5.                                       all claims for
compensation of any kind, including without limitation, salary, wages, bonuses,
commissions, stock-based compensation, vacation pay, paid time off, fringe
benefits, and expense reimbursements; and

 

6.                                       all claims for
reinstatement or other equitable relief; back pay, front pay, compensatory
damages, damages for alleged personal injury, liquidated damages and punitive
damages; and

 

7.                                       all claims for attorneys’
fees, costs and interest.

 

However,
My Claims does not include any claims that the law does not allow to be
waived or any claims that may arise after the date on which I sign this
Agreement.

 

II.            Termination of
Employment and Agreement to Release My Claims.

 

A.            I have resigned from my employment with (and my position
as an officer of) Analysts International effective as of the close of business
on July 27, 2010.

 

2

 

B.            Provided I perform
all of my obligations under this Agreement and do not revoke this Agreement
within the fifteen (15) day revocation period as set forth below, I will
receive severance  (“Severance
Compensation”) from Analysts International as follows:

 

1.               Analysts
International will continue to pay my regular base salary of $275,000 per annum
through (and ending on) January 7, 2011, at the same time and on the same
schedule as salary payments are generally made to employees of Analysts
International, at my current rate of pay and subject to normal withholdings;
and

 

2.               Analysts
International will reimburse my medical insurance premium payments made under
the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) for a period of up
to six (6) months starting as of August 2010, the first month after
my coverage as an employee ends, provided that Analysts International receives
sufficient evidence of proof of such payments during the COBRA period.

 

I
understand that I may continue my COBRA coverage at my own expense for any
remaining period of COBRA eligibility after Analysts International stops its
monthly premium payments.  I understand
that the date of my employment termination, July 27, 2010, is my
qualifying event for COBRA purposes.  I
understand that I will have 90 days following July 27, 2010, to exercise
any of my vested stock options of Analysts International.  I
understand that pursuant to the terms of the applicable Analysts International
plan documents, all of my unvested stock options are forfeited.

 

C.            For the avoidance of
doubt, the Company acknowledges that nothing in this Agreement is intended to
diminish or alter any rights I may have under the Company’s Restated Special
Executive Retirement Plan as adopted December 27, 2006 and amended September 1,
2007 (the “Plan”), which rights are as stated in the Plan.  The Company has advised me that as of July 3,
2010 the accrued balance in my deferred compensation account is
$14,158.26.  Between July 3, 2010
and the distribution of my deferred compensation, the Company acknowledges that
my balance will continue to accrue interest in accordance with the terms of the
Plan as administered under the direction of the Company’s Board of
Directors.  I will be paid the full
amount in my deferred compensation account within five (5) business days
of when such payment is allowed under section 409A of the Internal Revenue Code
of 1986, as amended.

 

D.            My Severance
Compensation is contingent upon me signing and not revoking this Agreement as
provided below.  I understand and
acknowledge that the Severance Compensation is in addition to anything of value
that I would be entitled to receive from Analysts International if I did not
sign this Agreement or if I revoked this Agreement.

 

E.             In exchange for the
Severance Compensation, I give up, settle and release all of My Claims
and I agree to abide by this Agreement in all respects.  I understand and agree that through this
release I am extinguishing all of My Claims occurring up to the date on
which I sign this Agreement.  The
Severance Compensation that I am receiving is a fair compromise for my
undertakings in this Agreement.

 

F.             Notwithstanding the
foregoing, I understand that nothing contained in this Agreement purports
to limit any right I may have to file a charge with the Equal Employment Opportunity
Commission or other administrative agency or to participate in an investigation
or proceeding conducted by the Equal Employment Opportunity Commission or other
investigative agency.  This Agreement
does, however, waive and release any right to recover monetary damages
resulting from such investigation or litigation.

 

G.            Despite the fact
that my last day of employment with Analysts International was July 27, 2010, I
will, as a condition to receiving my Severance Compensation on the schedule
specified in paragraph II(B)(1) above, fully cooperate and assist the
Company with any transitional issues that may arise at any time while I am
receiving Severance Compensation, devoting such time and attention to such
matters as may be 

 

3

 

required
or appropriate. This may include, without limitation, in-person attendance at
meetings and review of plans and strategies.

 

III.           No Admission of
Liability.  Even though
Analysts International will provide Severance Compensation for me to settle and
release My Claims and to otherwise abide by this Agreement, the Company does
not admit that it is responsible or legally obligated to me.  In fact, the Company denies that it is
responsible or legally obligated to me for My Claims, denies that it engaged in
any unlawful or improper conduct toward me, and denies that it treated me
unfairly or acted wrongfully.

 

IV.           Acknowledgement of Risk of Change in Facts or Law.  I acknowledge that the facts and
the law material to this Agreement may turn out to be different from or
contrary to my present belief, and I assume the risk that such differences may
arise.  I acknowledge and represent that
I have not relied on any representations of the Company or the Company’s
counsel in entering into this Agreement. 
Once the fifteen (15) day revocation period below has expired, I intend that the release granted herein
shall be final, complete, irrevocable and binding in all events and
circumstances whatsoever.

 

V.            Advice to Consult
with an Attorney.  My decision
whether to sign this Agreement is my own voluntary decision made with full
knowledge that the Company has advised me to consult with an attorney.

 

VI.           Period to
Consider this Agreement.  I understand that I have through August 17,
2010 (which, I acknowledge, is no less than twenty-one (21) calendar days
from the date I first received this Agreement) to consider whether I wish to
sign this Agreement.  I understand that
if I sign this Agreement prior to August 17, 2010, or choose to forego the
advice of legal counsel, I do so freely and knowingly, and I waive any and
all further claims that such action or actions would affect the validity of
this Agreement.  I understand that any
changes to this Agreement, whether material or not material, do not restart the
period during which I can consider whether to sign this Agreement.

 

If I elect not to execute
and return this Agreement on or before August 17, 2010, I further
understand that the offer contained herein shall terminate and Analysts
International shall be under no obligation to provide the Severance
Compensation and the benefits provided herein.

 

VII.         My Right to Revoke
this Agreement.  I understand
that I have the right to revoke the release of claims contained in Paragraph II
with regard to claims arising under the Minnesota Human Rights Act, Minnesota
Statutes Chapter 363A, within fifteen (15) calendar days of my signing this
Agreement, and with regard to my rights arising under the federal Age
Discrimination in Employment Act, 29 U.S.C. § 621 et seq.,
within seven (7) calendar days of my signing this Agreement.  The two revocation periods shall run
concurrently.  This Agreement will not
become effective or enforceable unless and until the fifteen (15) day
revocation period has expired without my revoking it.  I understand that if I revoke this Agreement,
all of Analysts International’s obligations to me under this Agreement will
immediately cease and terminate, and Analysts International will owe me no
amounts hereunder.  If I do not revoke this
Agreement within said fifteen (15) day period, I understand that Analysts
International will begin to pay the Severance Compensation to me shortly after
that fifteen (15) day period expires.

 

VIII.        Procedure for
Accepting or Revoking this Agreement. 
To accept the terms of this Agreement, I must deliver the
Agreement, after I have signed and dated it, to Analysts International by hand
or by certified mail, return receipt requested on or before August 11,
2010.  To revoke my acceptance, I
must deliver a written, signed statement that I revoke my acceptance by hand or
by certified mail, return receipt requested, within the fifteen (15) day
revocation period.  All certified
mailings and hand deliveries must be made to Analysts International at the
following address:

 

Jill
Dose

Analysts International Corporation

3601 West 76th Street, Suite 500

 

4

 

Edina,
MN 55435

 

If
I choose to deliver my acceptance or the revocation of my acceptance by mail,
it must be:

 

1.                                       postmarked
within the period stated above; and

 

2.                                       properly
addressed to Jill Dose, Analysts International, at the address stated above.

 

IX.           Non-Disparagement.  Both I and the Company agree not to make
negative or disparaging remarks or comments about each other, including, in the
case of comments regarding the Company, about its officers, directors,
management, employees, products or services.

 

X.            Non-Solicitation
and Non-Interference.  I acknowledge
and agree to abide by the Restrictions against Solicitation and
Non-Interference provisions of Section 13 of the September 1, 2009
Employment Agreement, for which I acknowledge sufficient prior consideration
was given.

 

XI.           Restrictions Against Competition.  I acknowledge and agree to
abide by the Restrictions against Competition provisions of Section 14 of
the September 1, 2009 Employment Agreement, for which I acknowledge
sufficient prior consideration was given.

 

XII.         Confidentiality.  I agree that I will keep confidential, and
will not use for my benefit or for the benefit of any other company or person,
confidential Analysts International business information (including, but not
limited to, the identity of Analysts International customers and prospective
customers and their requirements for IT consulting and other services provided
by Analysts International), salary information, contract rates and contract
expiration dates, details of Analysts International projects, business,
marketing and strategic plans, and Company or office financial information.  I recognize that the Company has furnished
any information of this type to me in confidence on the understanding that I
would not disclose or use it for the advantage of myself or anyone other than
Analysts International.

 

XIII.        Return of Property.  I agree that I will not retain any copies of
Company property or documents.  I agree
that this obligation is ongoing and that if I subsequently discover any
additional Company property that I will promptly return any such property to
Analysts International.

 

XIV.        No Other Promises or Representations.  I agree that no promise or
representation, other than the promises and representations expressly contained
in this Agreement, has been made to me by the Company.

 

XV.         Interpretation of
this Agreement.  This
Agreement should be interpreted as broadly as possible to achieve my intention
to resolve all of My Claims against the Company and to otherwise fulfill my
obligations under this Agreement.  If any
provision of this Agreement is found to be illegal and/or unenforceable, such
provision shall be severed and modified to the extent necessary to make it
enforceable; and as so severed or modified, the remainder of this Agreement
shall remain in full force and effect and enforceable with respect to the
release of all the remainder of My Claims.

 

XVI.        Voluntary Release.  I have read this Agreement carefully.  I understand all of its terms.  In signing this Agreement, I have not
relied on any statements or explanations made by the Company or its attorneys except
as specifically set forth in this Agreement. 
I am voluntarily releasing My Claims against the Company without
coercion, duress or reliance on any representations by the Company including,
but not limited to, any Analysts International employee, agent or attorney and
I am voluntarily undertaking my other obligations under this Agreement without
coercion, duress or reliance on any representations by any Analysts
International employee, agent or attorney. 
I intend this Agreement to be legally binding.

 

XVII.      Non-Disclosure
of this Agreement.  I agree that the terms of
this Agreement are confidential.  I will 

 

5

 

not, directly or indirectly, disclose any of the
terms of this Agreement to anyone other than my immediate family or counsel,
except as such disclosure may be required for accounting or tax reporting
purposes or as otherwise may be required by law (for example, by subpoena or
other compulsory legal process). I understand that the Company may in its
discretion make a filing on Form 8-K with the Securities and Exchange
Commission regarding my resignation from the Company.

 

XVIII.     Governing
Law; Jurisdiction and Venue.  This Agreement is governed by and shall be
construed in accordance with the laws of the State of Minnesota and any dispute
related thereto shall be exclusively venued in the state courts of Minnesota
located in Hennepin County, Minnesota. 
In the event litigation results involving this Agreement, the
unsuccessful party agrees to pay the prevailing party’s reasonable attorneys’
fees and costs.

 

XIX.        Other Agreements.  I understand that this Separation Agreement
and Release of Claims and the employee benefit plans of Analysts International
in which I will continue as a participant following my termination from employment
contain all of the agreements between the Company and me.  Except as expressly provided herein, these
agreements (this Separation Agreement and Release of Claims and the employee
benefit plans of Analysts International in which I will continue as a
participant following my termination from employment) expressly supersede all
other written and oral agreements the Company and I may have, including, but
not limited to, the my Employment Agreements). 
I fully understand and acknowledge that this Agreement completely
supersedes and replaces my Employment Agreements and that, from and after the
effective date of this Agreement, except as expressly provided herein, I
will not have any rights under my Employment Agreements (or any of them or any
exhibit thereto), whether to severance, change of control payments, stock
options, or otherwise.  Except as
expressly provided herein, the only provision of the September 1, 2009
Employment Agreement that shall have any force or effect after the effective
date of this Agreement shall be Section 20 thereof (“Survival”).  Any additions or changes to this Agreement
must be in writing and signed by both parties.

 

XX.         Survival.  I understand that the provisions of this
Agreement that, by their nature and content, must survive the completion,
revocation, termination or expiration of this Agreement in order to achieve the
fundamental purposes of this Agreement (including but not limited to the
provisions of paragraphs II, IX, X, XI, XII and XIII of this Agreement)
will survive the termination of my employment and the termination, for any
reason, of this Agreement.

 

XXI.        Release
as Evidence.  I understand
and agree that in the event that any claim, suit or action shall be commenced
by me against the Company, including, but not limited to, claims, suits or
actions relating to my employment with Analysts International through this
date, this Agreement shall constitute a complete defense to any such claims,
suits or actions so instituted.

 

By signing below, I, James D. Anderson, acknowledge and agree to
the following:

 

·                                          I have had adequate time to
consider whether or not to sign this Separation Agreement and Release of
Claims.

 

·                                          I have read this Separation
Agreement and Release of Claims carefully.

 

·                                          I understand and agree to all
of the terms of this Separation Agreement and Release of Claims.

 

·                                          I am knowingly and
voluntarily releasing My Claims against the Company (as defined herein) to the
extent expressly set forth in this Separation Agreement and Release of Claims.

 

·                                          I have not, in signing this
Separation Agreement and Release of Claims, relied upon any statements or
explanations made by the Company except as for those specifically set forth in
this Separation Agreement and Release of Claims.

 

·                                          I intend this Separation Agreement
and Release of Claims to be legally binding.

 

6

 

·                                          I am signing this Separation
Agreement and Release of Claims on or after my last day of employment with
Analysts International Corporation.

 

·                                          The effective date of this
Separation Agreement and Release of Claims shall be the date on which it is
last signed by one of the parties to this Agreement.

 

The
foregoing is agreed and accepted.

 

	
  James
  D. Anderson

  	
   

  	
  Analysts
  International Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  Date
  signed:

  	
   

  	
   

  	
  Date
  signed:

  	
   

  
						

 

7

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