Document:

Employment Agreement, dated June 25, 2010

 Exhibit 10.1 

 

			
	

	  	50 Washington Street,
11th Floor, Norwalk, CT 06854

 

			
	Mr. David Price	  	
	298 Hogans Valley Way	  	
	Cary, NC 27513	  	                June 25, 2010

EMPLOYMENT AGREEMENT 
 Dear David: 

This letter agreement (“Agreement”) between you and EDGAR Online, Inc. (“EOL” or the “Company”), contains the terms and
conditions of your employment and termination thereof. 
 1. Position & Compensation. You shall be employed as
and perform the duties of the Executive Vice President and Chief Financial Officer for EOL and its subsidiaries. You will report to EOL’s Chief Executive Officer (“CEO”). You will receive an annualized salary, payable in accordance
with EOL’s regular payroll practices, of at least $250,000, a $125,000 bonus opportunity based on annual performance in your first year of employment, a one time $40,000 signing bonus payable across 6 months, reimbursement of up to $60,000 in
relocation expenses. Your salary shall be subject to annual review and adjustment at the discretion of EOL’s Board of Directors (the “Board”). Each year following your first year of employment, your bonus opportunity will be based on
annual performance objectives as defined by EOL’s CEO. Your actual bonuses may be more or less than the target bonus established by the CEO, and shall be dependent upon the extent to which your actual performance meets, exceeds, or falls below
the performance objectives set forth by the CEO. Bonuses paid to you shall be paid in a single lump sum, subject to lawful deductions, unless payment of the bonus amount in a lump sum would violate any applicable law or regulation. To the extent
practicable, any bonuses paid to you shall be paid at such time as bonuses are regularly paid to senior executives of EOL, but in any event shall be paid on or before March 15 of the year following the year to which the bonus payment relates.

 You will be eligible to participate in the Company’s benefit plans including Medical, Dental, Life, Short and Long Term disability and
401K on the first of the month following your date of hire. You will accrue four weeks of vacation per year. 
 You will receive 675,000
restricted shares of EDGAR Online, Inc. common stock on the date you commence your employment, the terms of which shall be set forth in a grant agreement, a form of which is attached hereto as Exhibit A. These shares are being issued as an
inducement grant under the NASDAQ rules and not under the EOL 2005 Stock Award and Incentive Plan, as amended. The shares will vest in equal installments on the first three anniversaries of such date. You will be eligible for future grants
of stock and stock options as the Compensation Committee of the Board deems appropriate, based on overall corporate performance and individual performance, and in accordance with the terms of the EOL 2005 Stock Award and Incentive Plan, as amended.

  

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 2. Severance - For Cause. In the event your employment is terminated “For
Cause” by EOL, EOL shall only be liable for payment of your accrued salary and benefits up to the date of termination. EOL shall have “Cause” to terminate your employment if you are given written notice detailing the specific Cause
event, and fail to cure such event (if susceptible to cure) to the satisfaction of the Board within the period of 30 days following such notice: (a) you fail to meet performance objectives or perform material responsibilities set for your
position by the Board and CEO, except to the extent you become totally medically disabled and cannot substantially perform the essential functions of your duties, with or without reasonable accommodation (b) you fail or refuse to carry out the
reasonable and lawful directions of the Board concerning duties or actions consistent with your position; (c) you engage in any conduct constituting fraud, embezzlement, misappropriation of funds or breach of fiduciary duty; (d) you engage
in any conduct resulting in substantial loss to EOL or substantial damage to EOL’s reputation; (e) you materially violate any reasonable rules, regulations, policies, directions or restrictions of the Company regarding employee conduct; or
(f) you are grossly negligent in the performance of your duties. 
 Notwithstanding anything to the contrary contained herein, your right
to cure shall not apply if you engage in habitual or repeated breaches. 
 3. Other Severance Provisions. 

a. Without Cause; Good Reason. 

Subject to Section 3.d. below, in the event your employment is terminated by EOL without Cause (other than pursuant to
Section 3.b. hereof) or you resign for Good Reason (as defined below), EOL shall be obligated to continue your salary payments for 6 months from your last date of employment, such payments to begin within 30 days of the date of your termination
and made through EOL’s regularly scheduled payroll over the duration of such period. You will also be entitled to a prorated share of any bonus for which you would have been eligible within the 6 months following your termination. If your
employment is terminated without Cause or you resign for Good Reason, EOL will also bear the cost of your COBRA coverage for 6 months following your last date of employment. In addition, all stock options and other restricted stock awards granted to
you by EOL that are based on scheduled vesting periods and are not performance-based, will continue to vest under their predefined schedule (in an amount equivalent to 6 months of monthly vesting) over the 6 months following the date of your
termination and remain exercisable for the remainder of the term of the stock option. 
 b. Change of Control. 

Subject to Section 3.d. below, in the event there is a “Change of Control” of EOL (as defined below) all stock options and
other awards granted to you by EOL shall immediately vest and remain exercisable by you for the remainder of the original term of each stock option. In addition, in the event of a “Change of Control” of EOL, EOL terminates your employment
pursuant thereto without Cause or you resign for Good Reason, EOL shall pay to you an amount equal to the sum of 6 months of your annual base salary in effect immediately prior to such termination in one lump sum paid within 10 days of your last day
of employment with EOL. 
 Notwithstanding any provision of this Section 3.b. to the contrary, EOL will pay you the amount
described in this Section 3.b. in a lump sum only if the transaction constituting a Change of Control under this Agreement is also a “change in control event” within the meaning of such term under section 409A of the Internal Revenue
Code of 1986, as amended, and the regulations promulgated there under (the “Code”) and your employment is terminated under this Section 3.b. within 6 months preceding or 2 years following such Change of Control. If the transaction
constituting the Change of Control is not a “change in control event” within the meaning of section 409A of the Code or your employment is terminated under this Section 3.b. after the 2-year period following such Change of Control,
then the amount described in this Section 3.b. will be paid in installments as described in Section 3.a. above. 
  

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 If any payment or benefit you would receive pursuant to this Agreement (“Payment”)
would (i) constitute a “Parachute Payment” within the meaning of section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by section 4999 of the Code (the “Excise Tax”), then such
Payment shall be reduced to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion
of the Payment, which such amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in your receipt, on an after-tax
basis, of the greatest amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If based on the foregoing sentence a reduction in payments or benefits constituting “Parachute Payments”
is necessary so that no portion of the Payment is subject to the Excise Tax, the Payment will be reduced on a nondiscretionary basis in such a way as to minimize the reduction in the economic value deliverable to you. Where more than one payment has
the same value for this purpose and they are payable at different times they will be reduced on a pro rata basis. All determinations under this paragraph will be made by an independent accounting firm selected by EOL. 

For purposes of this Agreement, a “Change of Control” shall mean: (a) the acquisition of 50% or more of EOL’s
outstanding common stock or EOL’s voting securities; (b) the sale of all or substantially all of the assets of EOL, other than to a subsidiary of EOL, which is approved by EOL’s stockholders; or (c) the reorganization, merger or
consolidation of EOL into another entity, which is approved by EOL’s stockholders. 
 c. Good Reason. 

For purposes of this Agreement “Good Reason” shall be deemed to exist upon the occurrence of any of the following events,
without your express written consent, unless such events are fully corrected in all material respects by the Company within 30 days following written notification by you to the Company of the occurrence of one of the reasons set forth below:
(a) the relocation of the Company’s place of business at which you are principally located to a location that is greater than 90 miles commuting distance after you establish your relocation residency or (b) significant reduction in
your duties, responsibilities, or position. 
 You shall provide the Company with a written notice detailing the specific
circumstances alleged to constitute Good Reason within 90 days after the first occurrence of such circumstances, and actually terminate employment within 60 days following the expiration of the Company’s cure period as set forth above.
Otherwise, any claim of such circumstances as “Good Reason” shall be deemed irrevocably waived by the Executive. 

d. Release. 

In the event your employment terminates under Section 3.a. or 3.b. above, you shall be required to first execute and deliver to EOL a
general release of liability, in substantially the form attached hereto as Exhibit B (subject to such changes as EOL deems necessary or appropriate to comply with applicable law at the time your employment terminates), prior to receiving any
payments or benefits to which you are entitled under this Agreement (other than earned but unpaid base salary, bonus and benefits). Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of your execution of
the release, directly or indirectly result in you designating the calendar year of payment and to the extent payment could be made in more than one taxable year, payment shall be made in the later taxable year. 

 

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 4. Section 409A Compliance. 

 

	 	a.	This Agreement is intended to comply with the requirements of section 409A of the Code, and shall in all respects be administered in accordance with section 409A of the
Code. If any payment or benefit hereunder cannot be provided or made at the time specified herein without incurring sanctions on you under section 409A of the Code, then such payment or benefit shall be provided in full at the earliest time
thereafter when such sanctions will not be imposed. For purposes of section 409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” (within the
meaning of such term under section 409A of the Code), each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of
separate payments. In no event shall you, directly or indirectly, designate the calendar year of payment. 

  

	 	b.	Notwithstanding any provision of this Agreement to the contrary, if it is necessary to postpone the commencement of any payments or benefits otherwise payable under
this Agreement as a result of your separation from service with EOL to prevent any accelerated or additional tax under section 409A of the Code, then EOL will postpone the commencement of any such payments or benefits hereunder (without any
reduction in such payments or benefits ultimately paid or provided to you) that are not otherwise paid within the “short-term deferral exception” and the “separation pay exception”, until the first payroll date that occurs after
the date that is six months following your separation of service with EOL. If any payments are postponed due to such requirements, such postponed amounts will be paid to you in a lump sum on the first payroll date that occurs after the date that is
six months following your separation from service with EOL. If you die during the postponement period prior to the payment of postponed amount, the amounts postponed on account of section 409A of the Code shall be paid to the personal representative
of your estate within 60 days after the date of your death. 

  

	 	c.	All reimbursements provided under this Agreement will be made or provided in accordance with the requirements of section 409A of the Code, including, where applicable,
the requirement that (i) any reimbursement shall be for expenses incurred during your lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year
may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred
and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

 5.
Termination Due to Death and Disability. In the event of (i) your death or (ii) subject to the requirements of applicable law, your involuntary termination of employment by EOL on account of your disability (which shall be defined
as a physical or mental disability that, in EOL’s Board’s opinion, prevents you from performing your duties for a period of three consecutive months, during which period your salary and any other benefits you receive shall not be suspended
or diminished), all stock options and other awards granted to you by EOL that are based on scheduled vesting periods and are not performance-based shall immediately vest upon such date of death or termination by EOL following the Board’s
disability determination, whichever is applicable, and remain exercisable by you or your estate for the remainder of the original term of each stock option. 
  

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 6. Confidentiality. During your employment with EOL you will have access to
proprietary and confidential information of EOL. You acknowledge and agree that any inventions created by you shall be the property of EOL and you hereby agree to assign any patent or other rights in such inventions to EOL. In addition to the
foregoing, your confidentiality, non-disclosure and invention assignment obligations will be subject to the terms of the Employee Confidentiality Agreement you previously signed with EOL, the terms of which are hereby incorporated by reference. You
also agree that you will not use the Confidential Information for purposes of competition with EOL or as a basis for or to assist in creating a competing product or service to that offered by or the Company, and that you will not use the information
you receive to assist another company in reverse engineering EOLs products, services, software or processes to create another like service or software that EOL provides. 

7. Non-solicit; Non-compete. In consideration of your employment and the terms of this Agreement, you agree that for a period of 6
months following the termination of your employment from EOL, regardless of reason, you will not directly or indirectly, contact, solicit or direct any person, firm, or corporation to contact or solicit, any of EOL’s customers, prospective
customers, or business partners for the purpose of selling or attempting to sell, any products and/or services that are the same or substantially similar to the products and services provided by EOL to its customers during your employment. In
addition, you will not (a) disclose the identity of any such business partners, customers, or prospective customers, to any person, firm, corporation, association, or other entity for any reason or purpose whatsoever; (b) directly or
indirectly, engage or carry on in any manner (including, without limitation, as principal, shareholder, partner, lender, agent, employee, consultant, or investor (other than a passive investor with less than a 5% interest), trustee or through the
agency of any corporation, partnership, limited liability company, or association) in any business that is in competition with the business of EOL and has an office located within 150 miles of EOL’s New York City office; or (c) solicit on
your own behalf or on behalf of any other person, the services of any person who is an employee of EOL, or solicit any of EOL’s employees to terminate employment with EOL. 

8. Arbitration. Any dispute or controversy arising under or in connection with this Agreement or your employment with the
Company shall be settled exclusively by arbitration, conducted before a single arbitrator in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association then in effect. The decision of the
arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. The parties acknowledge and agree that in connection with any such arbitration and regardless of
outcome, (a) each party shall pay all of its own costs and expenses, including, without limitation, its own legal fees and expenses, and (b) the arbitration costs shall be borne entirely by the Company. 

8. Miscellaneous. This Agreement, together with any and all equity or other compensation and/or benefit related agreements or
arrangements entered into by and between you and EOL from time to time, as well as the Employee Confidentiality Agreement by and between you and EOL dated     , the indemnity agreement by and between you and EOL dated
    , EOL’s Code of Conduct, EOL’s employee handbook and other EOL employee policies and procedures as may be in effect from time to time, contains the full and complete understanding between yourself and EOL
with respect to your compensation and post employment obligations with EOL as set out above. No statement, representation, warranty or covenant has been made by either party with respect thereto except as expressly set forth herein. These terms
shall not be modified or amended without the written consent of you and EOL. If any term or condition set forth in this letter agreement is found by a court to be unenforceable, then the remaining terms and conditions will remain in full force and
effect. Terms and conditions found to be unenforceable, if any, will be modified by the court to conform to a provision that most closely expresses the intent of the unenforceable term or condition. This letter agreement shall be governed by and
construed in accordance with the laws of the State of New York. 
  

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 Kindly indicate your acceptance of the terms contained herein by signing below and returning the original to
my attention. 
  

	
	Sincerely,
	
	

	Philip Moyer
	CEO & President

  

	
	Accepted and Agreed to by:
	
	 /s/ David Price

	David Price
	
	  
 Date

 

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 Exhibit A 

EDGAR ONLINE, INC. 

RESTRICTED STOCK GRANT 

This RESTRICTED STOCK GRANT AGREEMENT (this “Agreement”), dated as of June     , 2010 (the
“Date of Grant”), is delivered by EDGAR Online, Inc. (the “Company”), to David Price (the “Grantee”). 

RECITALS 

WHEREAS, the independent members of the Board of Directors of the Company (the “Board”) have authorized this restricted stock
grant to the Grantee granted simultaneously with the Grantee’s commencement of employment with the Company as its Chief Financial Officer; 

WHEREAS, the Board intends for this restricted stock grant to qualify as an inducement grant under the NASDAQ rules; 

WHEREAS, while the Company maintains the EDGAR Online, Inc. 2005 Stock Award and Incentive Plan, as amended (the “Plan”), which
provides for the grant of restricted stock of the Company, this restricted stock grant is made outside of the Plan but the parties have agreed that the terms of the Plan shall be incorporated into this Agreement by reference, including, without
limitation, capitalized terms used but not defined herein. [A copy of the Plan, as amended from time to time, is available on the Company’s intranet portal]; and 

WHEREAS, all references in this Agreement to the “Board” shall be deemed to refer to the committee if a committee has been
appointed to administer stock grants made outside of the Plan. 
 NOW, THEREFORE, in consideration of the foregoing, and of the
mutual provisions and covenants contained herein and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Grantee, intending to be legally bound, hereby agree as follows: 

1. Restricted Stock Grant. Subject to the terms and conditions set forth in this Agreement, the Company hereby grants the Grantee 675,000 shares
of common stock of the Company, subject to the restrictions set forth below (the “Restricted Stock”). Shares of Restricted Stock may not be transferred by the Grantee or subjected to any security interest until the shares have become
vested pursuant to this Agreement. 
 2. Vesting and Nonassignability of Restricted Stock. 

(a) The shares of Restricted Stock shall become vested, and the restrictions described in this Paragraph 2 shall lapse as to one-third of
the shares of Restricted Stock on each of the first three anniversaries of the Date of Grant; provided that the Grantee continues to be employed by, or provide service to, the Company, a Subsidiary or an Affiliate (together, the
“Employer”) from the Date of Grant until the applicable vesting date. The vesting of the Restricted Stock shall be 

 
cumulative, but shall not exceed 100% of the shares. If the foregoing schedule would produce fractional shares, the number of shares of Restricted Stock that vest shall be rounded down to the
nearest whole share. 
 (b) Notwithstanding the terms of Paragraph 2(a) above, if the Grantee ceases to be employed by, or
provide service to, the Employer on account of an involuntary termination of the Grantee by the Employer other than for Cause (as defined in that certain employment agreement by and between the Grantee and the Employer dated June __, 2010 (the
“Employment Agreement”) or on account of a resignation by the Grantee for Good Reason (as defined in the Employment Agreement) and not due to the Grantee’s death or Disability (as defined in the Employment Agreement), the shares of
Restricted Stock that would have vested during the six-month period following the Grantee’s termination date based on the vesting schedule set forth in Paragraph 2(a) above, shall vest during such six-month period in accordance with the
schedule set forth in Paragraph 2(a) above. 
 (c) Notwithstanding the terms of Paragraph 2(a) above, if a Change of Control (as
defined in the Employment Agreement) occurs while the Grantee is employed by, or providing service to, the Employer, any shares of Restricted Stock that are not then vested shall automatically accelerate and become fully vested as of the date of the
Change of Control. 
 (d) Except as provided in Paragraphs 2(b) and 2(c) above, if the Grantee ceases to be employed by, or
provide service to, the Employer for any reason before the Restricted Stock fully vests, the shares of Restricted Stock that are not then vested shall be forfeited and must be immediately returned to the Company. 

(e) During the period before the shares of Restricted Stock vest (the “Restriction Period”), the non-vested Restricted Stock
may not be assigned, transferred, pledged or otherwise disposed of by the Grantee. Any attempt to assign, transfer, pledge or otherwise dispose of the shares contrary to the provisions hereof, and the levy of any execution, attachment or similar
process upon the shares, shall be null, void and without effect. 
 3. Issuance of Certificates. 

(a) If certificates representing Restricted Stock are registered in the name of the Grantee, the Board may require that such certificates
bear an appropriate legend referring to the term, conditions and restrictions applicable to the Restricted Stock, that the Company retain physical possession of the certificates, and that the Grantee deliver a stock power to the Company, endorsed in
blank, relating the Restricted Stock. During the Restriction Period, the Grantee shall receive any cash dividends with respect to the shares of Restricted Stock, may vote the shares of Restricted Stock and may participate in any distribution
pursuant to a plan of dissolution or complete liquidation of the Company. In the event of a dividend or distribution payable in stock or other property or a reclassification, split up or similar event during the Restriction Period, the shares or
other property issued or declared with respect to the non-vested shares of Restricted Stock shall be subject to the same terms and conditions relating to vesting as the shares to which they relate. 

 

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 (b) When the Grantee obtains a vested right to shares of Restricted Stock, a certificate
representing the vested shares shall be issued to the Grantee, free of the restrictions under Paragraph 2 of this Agreement. 

(c) The obligation of the Company to deliver shares upon the vesting of the Restricted Stock shall be subject to all applicable laws,
rules, and regulations and such approvals by governmental agencies as may be deemed appropriately to comply with relevant securities laws and regulations. 

4. Grant Subject to Board Determinations. This Agreement is subject to interpretations, regulations and determinations by the Board, including,
but not limited to, provisions pertaining to (a) rights and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the shares, (c) changes in capitalization of the Company, and (d) other
requirements of applicable law. The Board shall have the authority to interpret and construe the grant, and its decisions shall be conclusive as to any questions arising hereunder. 

5. Withholding. The Grantee shall be required to pay to the Company, or make other arrangements satisfactory to the Company to provide for the
payment of, any federal, state, local or other taxes that the Employer is required to withhold with respect to the grant or vesting of the Restricted Stock. Subject to Board approval, the Grantee may elect to satisfy any tax withholding obligation
of the Employer with respect to the Restricted Stock by having shares withheld up to an amount that does not exceed the minimum applicable withholding tax rate for federal (including FICA), state, local and other tax liabilities. 

6. Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Stock, the
Grantee may file an election with the Internal Revenue Service, within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the “Code”) to be taxed currently
on any difference between the purchase price of the Restricted Stock and their fair market value on the date of purchase. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the
forfeiture restrictions on the Restricted Stock lapse. The Grantee is strongly encouraged to seek the advice of his own tax consultants in connection with the issuance of the Restricted Stock and the advisability of filing of the election under
Section 83(b) of the Code. A form of election under Section 83(b) is attached hereto as Exhibit A for reference. 
 THE GRANTEE
ACKNOWLEDGES THAT IT IS NOT THE COMPANY’S, BUT RATHER THE GRANTEE’S SOLE RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. 

7. No Employment or Other Rights. This grant shall not confer upon the Grantee any right to be retained by or in the employ or service of the
Employer and shall not interfere in any way with the right of the Employer to terminate the Grantee’s employment or service at any time. The right of the Employer to terminate at will the Grantee’s employment or service at any time for any
reason is specifically reserved. 
  

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 8. Assignment by Company. The rights and protections of the Company hereunder shall extend to any
successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. This Agreement may be assigned by the Company without the Grantee’s consent. 

9. Applicable Law. The validity, construction, interpretation and effect of this instrument shall be governed by and construed in accordance with
the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof. 
 10. Notice. Any notice to the
Company provided for in this instrument shall be addressed to the Company in care of the Lauren Zinman at 50 Washington Street, 11th Floor, Norwalk, CT 06854, and any notice to the Grantee shall be addressed to such Grantee at the current
address shown on the payroll of the Employer, or to such other address as the Grantee may designate to the Employer in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated
above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

[SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and
attest this instrument, and the Grantee has placed his or her signature hereon, effective as of the Date of Grant. 
  

			
	EDGAR ONLINE, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

I hereby accept the grant of Restricted Stock described in this Agreement, and I agree to be bound by the terms of this Agreement. I hereby further agree
that all of the decisions and determinations of the Board shall be final and binding. 
  

			
	Grantee:	 	  

 

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 ELECTION UNDER SECTION 83(b) 

OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED 

The undersigned taxpayer hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, and
the Treasury Regulations thereunder (the “Regulations”), and in connection with this election supplies the following information: 
  

	 	(1)	Name of taxpayer making election: David Price 

Address: 298 Hogans Valley Way, Cary, NC 27513 

Social Security Number:
                                         
                    
 Tax Year
for which election is being made: 2010 
  

	 	(2)	The property with respect to which the election is being made consists of 675,000 shares of common stock of EDGAR Online, Inc. (the “Company”).

  

	 	(3)	Date the property was transferred: June     , 2010 (the “Date of Grant”). 

 

	 	(4)	The stock is subject to forfeiture to the Company if the taxpayer ceases to be employed by, or provide service to, the Company during the restriction period. The
restriction period lapses as to one-third of the stock on each of the first, second and third anniversaries of the Date of Grant, if the taxpayer is employed by, or providing service to, the Company from the Date of Grant until the applicable
vesting date. 

  

	 	(5)	The fair market value at the time of the transfer of the stock (determined without regard to any restriction other than a restriction which by its terms will never
lapse) is $             per share. 

  

	 	(6)	The amount paid for the stock is $0 per share ($0 aggregate consideration). 

 

	 	(7)	A copy of this statement has been furnished to the Company (and to the transferee of the stock, if different from the taxpayer) as required by §1.83-2(d) of the
Regulations. 

  

	 	(8)	This statement is executed as of                     .

  

	
	  

	Taxpayer

  

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 INSTRUCTIONS FOR FILING SECTION 83(B) ELECTION 

Attached is a form of election under section 83(b) of the Internal Revenue Code. If you wish to make such an election, you should
complete, sign and date the election and then proceed as follows: 
 1. Execute three counterparts of your completed election (plus one extra
counterpart for each person other than you, if any who receives property that is the subject of your election), retaining at least one photocopy for your records. 

2. Send one counterpart to the Internal Revenue Service Center with which you will file your Federal income tax return for the current year (e.g.,
Atlanta, GA for North Carolina residents) via certified mail, return receipt requested. THE ELECTION SHOULD BE SENT IMMEDIATELY, AS YOU ONLY HAVE 30 DAYS FROM THE ISSUANCE/PURCHASE/GRANT DATE WITHIN WHICH TO MAKE THE ELECTION – NO WAIVERS, LATE
FILINGS OR EXTENSIONS ARE PERMITTED. 
 3. Deliver one counterpart of the completed election to the Company for its files. 

4. If anyone other than you (e.g., one of your family members) will receive property that is the subject of your election, deliver one counterpart
of the completed election to each such person. 
 5. Attach one counterpart of the completed election to your Federal income tax return for this
year when you file that return next year. 
  

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 Exhibit B 

FORM OF RELEASE 

1.                      agrees
that, in exchange for the consideration set forth in the Agreement, he releases and forever discharges, to the maximum extent permitted by law, EDGAR Online, Inc. (“EOL”) and each of the other “Releasees” as defined below, from
any and all claims, causes of action, complaints, grievances, lawsuits or liabilities of any kind (collectively, “Claims”) as described below which
                    , his heirs, agents, administrators or executors have or may have against EOL or any of the other Releasees. 

a. By agreeing to this Release,
                     agrees that he is waiving, to the maximum extent permitted by law, any and all Claims which he has or may have against
the Releasees arising out of or relating to any conduct, matter, event or omission existing or occurring before the date he executes this Release, including but not limited to the following: 

 

	 	i.	any Claims having anything to do with
                    ’s employment with EOL and/or any of its parent, subsidiary, related and/or affiliated companies;

  

	 	ii.	any Claims having anything to do with the separation of
                    ’s employment with EOL and/or any of its parent, subsidiary, related and/or affiliated companies;

  

	 	iii.	any Claims for unpaid or withheld wages, severance, benefits, bonuses, commissions and/or other compensation of any kind; 

 

	 	iv.	any Claims for reimbursement of expenses of any kind; 

  

	 	v.	any Claims for attorneys’ fees or costs; 

  

	 	vi.	any Claims under the Employee Retirement Income Security Act (“ERISA”); 

 

	 	vii.	any Claims of discrimination and/or harassment based on age, sex, race, religion, color, creed, disability, handicap, citizenship, national origin, ancestry, sexual
orientation, or any other factor protected by Federal, State or Local law as enacted or amended, including, but not limited to, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e; the Civil Rights Act of 1866, the Age Discrimination
in Employment Act, 29 U.S.C. § 621 (including the Older Worker’s Benefit Protection Act); the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101; the Rehabilitation Act of 1973, 29 U.S.C. § 701; the Family and Medical
Leave Act, 29 U.S.C. § 2601; the Equal Pay Act, the Workers Adjustment and Retraining Notification Act, 29 U.S.C. § 2101, the New York Human Rights Law, the New York Labor Law, the New York Executive Law, the New York Wage and Hour Laws,
the New York Civil Rights Law, the Connecticut Fair Employment Practices Act, the Connecticut Unfair Trade Practices Act, the Connecticut Wage Hour and Wage Payment Laws, the Connecticut Family and Medical Leave Act, each as amended, the common law
of the State of Connecticut and the State of New York. 

  

	 	viii.	any Claims under the Sarbanes-Oxley Act; 

  

 1 

	 	ix.	any Claims for violation of public policy; 

  

	 	x.	any whistleblower or retaliation Claims; 

  

	 	xi.	any Claims for emotional distress or pain and suffering; and/or 

  

	 	xii.	any other statutory, regulatory, common law or other Claims of any kind, including, but not limited to, Claims for breach of contract, libel, slander, fraud, wrongful
discharge, promissory estoppel, equitable estoppel and misrepresentation. 

 b. The term “Releasees”
includes: EOL and any parent, subsidiary, related or affiliated companies, and each of their past and present employees, officers, directors, attorneys, owners, shareholders, partners, insurers, benefit plan fiduciaries and agents, and all of their
respective successors and assigns. 
 c. This Release includes all Claims known or unknown by
                    , those that he may have already asserted or raised, as well as those that he has never asserted or raised. 

2. EOL agrees that it fully and forever waives, releases, acquits and discharges
                     from any and all claims, actions, charges, complaints, grievances and causes of action of whatever nature, whether now
known or unknown, that exist or may in the future exist arising from or relating to events, acts or omissions from the beginning of time until the date
                     signs this Release. 

3.                      agrees
that this Release does not waive or release any rights or claims that he may have under the Age Discrimination in Employment Act of 1967 which arise after the date he executes this General Release.
                     acknowledges and agrees that his separation from employment with EOL in compliance with the terms of the Agreement shall
not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 

4.                      agrees
that he hereby waives, to the extent permitted by law, all rights to sue or obtain equitable, remedial or punitive relief from any or all Releasees of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, and any
form of injunctive relief. Notwithstanding the foregoing,                      acknowledges that he is not waiving and is not being required
to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that he disclaims and waive any right to share or
participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 
 5.
                     agrees that neither this Release, nor the furnishing of the consideration for this Release, shall be deemed or construed
at any time to be an admission by EOL, any Releasees or himself of any improper or unlawful conduct. 
 6.
                     agrees that he has not relied on any advice from EOL or its attorneys concerning the tax consequences of the
consideration provided for this Release, but is relying on his own judgment and advice of his personal counsel and/or accountant or other tax professional.
                     expressly acknowledges and warrants that he is, and shall be, responsible for all federal, state, and local tax
liabilities which may result from the consideration provided for this Release, and hereby warrants that EOL shall bear no responsibility for any such tax liabilities. 

 

 2 

 7.
                     agrees that this Release is confidential and agrees not to disclose any information regarding the terms of this Release,
except to immediate family and any tax, legal or other counsel that he has consulted regarding the meaning or effect hereof or as required by law, and he will instruct each of the foregoing not to disclose the same to anyone. EOL agrees to disclose
any such information only to any tax, legal or other counsel of EOL as required by law. 
 8. Any non disclosure provision in
this Release does not prohibit or restrict                      (or his attorney) from responding to any inquiry about this Release or its
underlying facts and circumstances by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self regulatory organization or governmental entity. 

9. Notwithstanding anything in this Release to the contrary, this Release shall not relinquish, diminish, or in any way affect any right
or claim arising out of (i) any breach by EOLor by any Releasee of the Agreement after the date hereof, (ii) to the extent arising out of
                    ’s service as an employee, officer or director of EOL on or prior to the date of termination, any such claims or
potential claims for indemnification, advancement or to the benefits of EOL’s directors’ and officers’ liability insurance policies as in effect from time to time, in accordance with EOL’s charter or bylaws, or under any separate
agreement between                      and EOL, (iii) any claims for vested accrued benefits under any employee benefit plans,
(iv) any claims arising after the date                      signs this Release, or (v) or any claims that cannot by law be waived.

 10. Whenever possible, each provision of this Release shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
provision or any other jurisdiction, but this Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

7. This Release shall be governed by and construed in accordance with the laws of the State of New York. In the event of dispute of this
agreement you hereby consent to the exclusive jurisdiction of the courts located in New York. 
 BY SIGNING THIS RELEASE,
                     REPRESENTS AND AGREES THAT: 
  

	1.	HE HAS READ IT CAREFULLY; 

  

	2.	HE UNDERSTANDS ALL OF ITS TERMS AND KNOWS THAT HE IS GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF
1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990, AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED; 

 

 3 

	3.	HE HAS NOT RELIED ON ANY REPRESENTATIONS, PROMISES OR AGREEMENTS OF ANY KIND MADE TO HIM IN CONNECTION WITH HIS DECISION TO ACCEPT IT, EXCEPT FOR THOSE SET FORTH IN THE
AGREEMENT AND RELEASE; 

  

	4.	HE VOLUNTARILY CONSENTS TO EVERYTHING IN IT; 

  

	5.	HE HAS BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND HAS DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, HAS CHOSEN NOT TO DO SO OF HIS OWN
VOLITION; 

  

	6.	HE HAS HAD AT LEAST [21][45] DAYS FROM THE DATE OF HIS RECEIPT OF THIS RELEASE TO CONSIDER IT AND THE CHANGES MADE SINCE HIS RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR
WERE MADE AT HIS REQUEST AND WILL NOT RESTART THE REQUIRED [21][45] DAY PERIOD; 

  

	7.	HE UNDERSTANDS THAT HE HAS SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL
THE REVOCATION PERIOD HAS EXPIRED; 

  

	8.	HE HAS SIGNED THIS RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE HIM WITH RESPECT TO IT; AND 

 

	9.	HE AGREES THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED
REPRESENTATIVE OF THE COMPANY AND BY HIM. 

  

											
	Dated:	 	  
	 	 	 	  
	 	 
					
	 	 	 	 	 	 	EDGAR Online, Inc.	 	 
	Dated:	 	  
	 	 	 	 	 	 	 	 
						
	 	 	 	 	 	 	BY:	 	  
	 	 

  

 4TPC Group Inc. Executive Severance Plan

 Exhibit 10.1 

TPC GROUP INC. 

EXECUTIVE SEVERANCE PLAN 

1. Purpose. The purpose of the TPC Group Inc. Executive Severance Plan (the “Plan”) is to provide reasonable severance
protection to certain executive officers and other key employees of the Company and its Affiliates who are expected to make substantial contributions to the success of the Company and thereby provide for stability and continuity of management.

 2. Term. The Plan shall commence upon the Effective Date (as defined below) and shall continue until terminated in
accordance with Section 19. 
 3. Definitions. For purposes of the Plan, the following terms have the meanings set
forth below: 
 “Accrued Obligations” has the meaning for that term in Section 5(a). 

“Affiliate” means any company or other entity controlled by, controlling or under common control with the Company. 

“Base Monthly Salary” means one-twelfth of the Participant’s annual rate of base salary in effect as of the Termination
Date, disregarding any reduction that would constitute Good Reason. 
 “Board” means the Board of Directors of the
Company 
 “Cause” means the Participant’s: 

(a) conviction of, or guilty or nolo contendere plea by the Participant to, a felony or a misdemeanor
involving moral turpitude; 
 (b) willful misconduct in the performance of duties; 

(c) failure to observe written Company policies that is dishonest or demonstrably injurious to the Company (monetarily or
otherwise); 
 (d) willful failure to comply with lawful and ethical directions and instructions of the Board,
which, if curable, has not been cured within five (5) business days after written notice from the Board; and 

(e) willful failure to perform duties with the Company which results in a material adverse financial effect on the
Company, unless such failure is a result of the Participant’s mental or physical incapacity, provided that such failure, if curable, has not been cured within five (5) business days after written notice from the Board. 

For purposes of this definition, no act or failure to act on the part of the Participant shall be considered “willful” unless
it is done, or omitted to be done, by the Participant without the reasonable, good faith belief that the Participant’s act or omission was in accordance with, or not contrary to, the duties and responsibilities of Participant’s position.
Any act, or failure to act, based upon express authority given by the Company with respect to such act or omission or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the
Participant in the best interests of the Company. The termination of a Participant’s employment, whether or not during the Protection Period, shall not be deemed to be for Cause unless and until there shall have been delivered to the
Participant a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board (not including the Participant) at a meeting of the Board called and held for such purpose (after reasonable
notice is provided to the Participant and the Participant is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion 

 
of the Board, the Participant is guilty of the conduct described in this definition, and specifying the particulars thereof in detail. 

“Change of Control” means: 

(a) Any “person” (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”) and is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) or group of persons acting together (within the meaning of Section 13(d)(3) of the Exchange Act) becomes the direct or indirect beneficial
owner of 50% or more of the Company’s voting stock; 
 (b) During any twenty-four (24) month period,
individuals who, as of the beginning of such period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the
beginning of such period whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which
such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director (provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual
or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director); 

(c) The consummation of the merger, consolidation, or other reorganization of the Company with or into one or more
entities, as a result of which outstanding securities with less than 50% of the voting power of the surviving or resulting entity (or, if applicable, the ultimate parent company that owns directly or indirectly all of the voting securities of the
surviving or resulting entity) are owned by stockholders of the Company immediately prior to such merger, consolidation or reorganization in substantially the same proportion as their ownership of the voting power of the Company’s outstanding
securities immediately prior to such transaction; or 
 (d) The sale of the Company’s assets having a total
gross fair market value of at least 50% of all of the Company’s assets immediately before such sale. 
 “Change of
Control Severance Multiple” means the applicable number of months for the Participant on Exhibit A. 
 “Code”
means the Internal Revenue Code of 1986, as amended. 
 “Committee” means the Compensation Committee of the Board.

 “Company” means TPC Group Inc. and any successor to its business or assets, by operation of law or otherwise.

 “Disability” means the absence of the Participant from the Participant’s duties with the Company on a
full-time basis for a period of time which would entitle the Participant to receive benefits under the long-term disability policy in effect at the time of such illness or other physical or mental incapacity. 

“Effective Date” means July 1, 2010. 

“Employee” means an employee of the Company or an Affiliate. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

 

 - 2 - 

 “Good Reason” means 

(a) A material adverse change in the scope of the Participant’s responsibilities or authority, excluding any such
change after a Change of Control that is solely as a result of the Company’s common stock no longer being publicly traded on a national securities exchange; 

(b) The reduction in the Participant’s annual base salary or target bonus percentage, other than an across-the-board
reduction generally applicable to the executive officers of the Company, its Affiliates and the Company’s successor (including the successor’s ultimate parent company); 

(c) The reduction in the aggregate in the Participant’s eligibility for participation in the Company’s benefit
plans, other than an across-the-board reduction generally applicable to the executive officers of the Company, its Affiliates and the Company’s successor (including the successor’s ultimate parent company); 

(d) The relocation of the Company’s executive offices by more than 50 miles from its then current location; or

 (e) The failure of any successor to the Company in a Change of Control to expressly assume the Plan in writing
within ten (10) days after the occurrence of a Change of Control. 
 In order to terminate employment for Good Reason, a
Participant must, within 120 days of learning of circumstances constituting Good Reason, notify the Company in writing of the existence of such circumstances, and the Company shall then have 30 days to remedy the circumstances. If the circumstances
have not been fully remedied by the Company, the Participant shall have 60 days following the end of such 30-day period to exercise the right to terminate for Good Reason. The Participant shall be conclusively deemed to have learned of such
circumstances on the date of any written notice to the Participant concerning such circumstances. If the Participant does not timely do so, the right to terminate for Good Reason shall lapse and be deemed waived, and the Participant shall not
thereafter have the right to terminate for Good Reason unless further circumstances occur which themselves give rise to a right to terminate for Good Reason. 

“Participant” means an Employee who is designated as a Participant under Section 4(a) hereof, until such time as the
Employee’s participation ceases in accordance with Section 4(b) hereof. 
 “Protection Period” means the
12-month period beginning on the date of the Change of Control. Notwithstanding anything in the Plan to the contrary, if (i) a Participant’s employment is terminated prior to a Change of Control for reasons that would have constituted a
Qualifying Termination if they had occurred following a Change of Control, (ii) the Participant reasonably demonstrates that such termination (or Good Reason event) was at the request of a third party who had indicated an intention or taken
steps reasonably calculated to effect a Change of Control and (iii) a Change of Control involving such third party (or a party competing with such third party to effectuate a Change of Control) does occur, then for purposes of the Plan the date
immediately prior to the date of such termination of employment or event constituting Good Reason shall be treated as a Change of Control. For purposes of determining the timing and amount of payments and benefits to Participant under
Section 5(c), the date of the actual Change of Control shall be treated as the Participant’s Termination Date. 

“Qualifying Termination” means a termination of the Participant’s employment by the Company without Cause or by the
Participant with Good Reason. 
 “Release” means the waiver and release of claims required of the Participant prior to
receipt of certain payments under this Plan as described in Section 7 hereof. 
  

 - 3 - 

 “Separation from Service” means a Participant’s separation from service from
the Company and its Affiliates within the meaning of Section 409A of the Code. 
 “Severance Multiple” means the
applicable number of months for the Participant on Exhibit A. 
 “Termination Date” means the date on which a
Participant has a Separation from Service. 
 “Tier 1 Participant” means each of the Participants designated as such
by the Compensation Committee of the Board. 
 “Tier 2 Participant” means each of the Participants designated as such
by the Compensation Committee of the Board. 
 4. Participation. 

(a) Designation of Participants. The Participants in the Plan are the executive officers and other key employees of the Company
and its Affiliates who (i) are not parties to individual employment agreements that provide for severance benefits, and (ii) are designated as Participants by the Compensation Committee of the Board and receive written notice from the
Company of their status as a Participant, which is not revoked under Section 19. 
 (b) Cessation of Participation.
A Participant shall cease to be a Participant and shall have no rights hereunder, without further action, when the Participant ceases to be an Employee (unless such Participant is then entitled to severance payments and benefits as provided in
Section 5). A Participant entitled to severance payments and benefit under Section 5 shall remain a Participant in this Plan until the full amount of the severance payments and benefits under the Plan have been fully paid and provided to
the Participant. 
 (c) No Employment Rights. Nothing in the Plan will reduce or eliminate the right of the Company and
its Affiliates to terminate a Participant’s employment at any time for any reason. 
 5. Payments and Benefits on
Termination of Employment. 
 (a) For Cause, Death or Disability or Termination without Good Reason. If (x) a
Participant terminates employment with the Company and its Affiliates without Good Reason, (y) the Company and its Affiliates terminates a Participant’s employment for Cause or by reason of the Participant’s Disability, or (z) a
Participant’s employment is terminated by reason of the Participant’s death, then the Participant will not be entitled to any compensation or benefits under the Plan other than the sum of: 

(i) the portion of the Participant’s base salary earned through the Termination Date, to the extent not theretofore
paid; 
 (ii) except in the event of a termination of a Participant’s employment for Cause or by a
Participant for any reason, the amount of any annual incentive compensation under the annual incentive plan applicable to the Participant that has been earned by the Participant for a completed fiscal year preceding the Termination Date, but has not
yet been paid to the Participant; and 
 (iii) any accrued paid vacation, sick leave and other paid time-off to
the extent not theretofore paid (the sum of the amounts described in clauses (i), (ii) and (iii) are hereinafter referred to as the “Accrued Obligations”). 

 

 - 4 - 

 The Accrued Obligations will be paid to the Participant in a lump sum within 20 calendar days after the
Participant’s Termination Date. 
 (b) Qualifying Termination Other Than During Protection Period. In the event of a
Participant’s Qualifying Termination other than during the Protection Period, the Participant will be entitled to receive the payments and benefits provided below: 

(i) Accrued Obligations. The Accrued Obligations, payable in a lump sum within 20 calendar days after the
Participant’s Termination Date, 
 (ii) Severance Payments. Subject to Sections 7 and 8, severance
payments equal to the Participant’s Base Monthly Salary for the number of months equal to the Participant’s Severance Multiple, with the first payment commencing within 20 calendar days after the Release described in Section 7 becomes
effective and irrevocable in accordance with its terms, but no later than 70 days after the Participant’s Termination Date. 

(iii) Health Care Coverage. At the Company’s option, the Participant and the Participant’s eligible
dependents shall be entitled either (A) to receive a lump sum amount equal to the current cost of continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) under the Company’s medical and
dental plans in which the Participant participated prior to the Participant’s Termination Date for the number of months equal to the Participant’s Severance Multiple, payable within 20 calendar days after the Release described in
Section 7 becomes effective and irrevocable in accordance with its terms, but no later than 70 days after the Participant’s Termination Date, or (B) to continue to participate in the Company’s medical and dental plans in which
the Participant participated immediately prior to the Participant’s Termination Date, in each case for the number of months equal to the Participant’s Severance Multiple, commencing with the first calendar month following the Termination
Date (the “Benefit Continuation Period”); provided, however, that if the Company elects option (B) above, the Benefit Continuation Period shall cease when the Participant becomes eligible for any such coverage under a plan maintained
by another employer. The Participant’s continued participation in the Company’s medical and dental plans shall be on terms not less favorable than those in effect for active employees of the Company, subject to the Participant making the
monthly premium payment of the amount required for such coverage during the Benefit Continuation Period by active employees of the Company. The Benefit Continuation Period shall run concurrently with (and shall count against) the Company’s
obligation to provide continuation coverage pursuant to COBRA.  
 (c) Qualifying Termination During Protection
Period. In the event of a Participant’s Qualifying Termination during the Protection Period, the Participant will be entitled to receive the payments and benefits provided below: 

(i) Accrued Obligations. The Accrued Obligations, payable in a lump sum within 20 calendar days after the
Participant’s Termination Date, 
 (ii) Change of Control Severance Payment. Subject to Sections 6, 7
and 8, a lump sum severance payment in an amount equal to the Participant’s Base Monthly Salary multiplied by the Participant’s Change of Control Severance Multiple, payable within 20 calendar days after the Release described in
Section 7 becomes effective and irrevocable in accordance with its terms, but no later than 70 days after the Participant’s Termination Date. Such payment shall be reduced, if applicable, by any severance payments made to the Participant
under Section 5(b)(ii) prior to the Change of Control. 
 (iii) Change of Control Health Care
Coverage. At the Company’s option, the Participant and the Participant’s eligible dependents shall be entitled either (A) to receive a lump sum amount equal to the current cost of continuation coverage pursuant to COBRA under the
Company’s medical and dental plans in which the Participant participated prior to the Participant’s 
  

 - 5 - 

 
Termination Date for the number of months equal to the Participant’s Change of Control Severance Multiple, payable within 20 calendar days after the Release described in Section 7
becomes effective and irrevocable in accordance with its terms, but no later than 70 days after the Participant’s Termination Date, or (B) to continue to participate in the Company’s medical and dental plans in which the Participant
participated immediately prior to the Participant’s Termination Date, in each case for the number of months equal to the Participant’s Change of Control Severance Multiple, commencing with the first calendar month following the Termination
Date (the “Change of Control Benefit Continuation Period”); provided, however, that if the Company elects option (B) above, the Change of Control Benefit Continuation Period shall cease when the Participant becomes eligible for any
such coverage under a plan maintained by another employer. Such continued participation shall be reduced, if applicable, by the number of months of the Participant continued participation in the Company’s medical and dental plans under
Section 5(b)(iii) prior to the Change of Control. The Participant’s continued participation in the Company’s medical and dental plans shall be on terms not less favorable than those in effect for active employees of the Company,
subject to the Participant making the monthly premium payment of the amount required for such coverage during the Change of Control Benefit Continuation Period by active employees of the Company. The Change of Control Benefit Continuation Period
shall run concurrently with (and shall count against) the Company’s obligation to provide COBRA continuation coverage. 

6. Impact of Section 4999 Excise Tax. In the event of a Change of Control, the payments and benefits to Participants
under Sections 5(c)(ii) and (iii) shall be subject to reduction, if applicable, in accordance with the provisions of Exhibit B. 

7. Release. The severance compensation and benefits to be provided under Sections 5(b)(ii), 5(b)(iii), 5(c)(ii), and
5(c)(iii) shall be provided only if the Participant timely executes and does not timely revoke a Release; provided that the Company has delivered, or has made a good faith effort to deliver, a form of the Release to the Participant no later than the
fifth business day after the Participant’s Termination Date. The Release must be signed by the Participant (or his legal representative, if applicable) and become effective and irrevocable in accordance with its terms (taking into account any
applicable revocation period set forth therein) by the date specified by the Company, which shall be no later than sixty-five days after the Participant’s Termination Date. If the Participant fails to execute and furnish the Release, or if the
Release furnished by the Participant has not become effective and irrevocable in accordance with its terms (taking into account any applicable revocation period set forth therein) by the fiftieth day after the Participant’s Termination Date,
the Participant will not be entitled to any payment or benefit under the Plan other than the Accrued Obligations. 
 8.
Covenants. The severance compensation and benefits to be provided under Sections 5(b)(ii), 5(b)(iii), 5(c)(ii), and 5(c)(iii) are subject to the Participant’s continued compliance with the covenants set forth on Exhibit C. The
Company’s obligations and the Participant’s right, if any, to severance compensation and benefits under Sections 5(b)(ii), 5(b)(iii), 5(c)(ii), and 5(c)(iii) shall cease in the event of a material breach by the Participant of any provision
of Exhibit C (and, in only those cases where such material breach is curable, the failure to cure such material breach within 10 business days after written notice to the Participant, which notice details, with reasonable specificity, such material
breach). Any such cessation of payment shall not reduce any monetary damages that may be available to the Company as a result of such breach. 

9. No Mitigation. In no event shall the Participant be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to the Participant under any of the provisions of this Plan and such amounts shall not be reduced whether or not the Participant obtains other employment. 

10. Effect on Other Plans, Agreements and Benefits. Except to the extent expressly set forth herein, any benefit or
compensation to which a Participant is entitled under any agreement between the Participant and the Company or any of its Affiliates or under any plan maintained by the Company or any of its Affiliates in which the Participant participates or
participated shall not be modified or lessened in 
  

 - 6 - 

 
any way as a consequence of the Participant’s participation in this Plan, but shall be payable or provided according to the terms of the applicable plan or agreement. 

11. Administration. Except as otherwise specifically provided herein, the Committee shall administer the Plan and shall
have full and final authority in its discretion to take all actions determined by the Committee to be necessary in the administration of the Plan. The Committee may delegate, subject to such terms as the Committee shall determine, any of its
authority hereunder to such person or persons from time to time as it may designate. In the event of such delegation, all references to the Committee in this Plan shall be deemed references to such delegates as it relates to those aspects of the
Plan that have been delegated. 
 12. Claims for Benefits. 

(a) Filing a Claim. Any Participant who wishes to file a claim for benefits under the Plan shall file his or her claim in writing
with the Committee. 
 (b) Review of a Claim. The Committee shall, within 90 days after receipt of such written claim
(unless special circumstances require an extension of time, but in no event more than 180 days after such receipt), send a written notification to the Participant as to its disposition. If the claim is wholly or partially denied, such written
notification shall (i) state the specific reason or reasons for the denial, (ii) make specific reference to pertinent Plan provisions on which the denial is based, (iii) provide a description of any additional material or information
necessary for the Participant to perfect the claim and an explanation of why such material or information is necessary, and (iv) set forth the procedure by which the Participant may appeal the denial of his or her claim, including, without
limitation, a statement of the claimant’s right to bring an action under Section 502(a) of ERISA following an adverse determination on appeal. 

(c) Appeal of a Denied Claim. If a Participant wishes to appeal the denial of his or her claim, he or she must request a review of
such denial by making application in writing to the Committee within 60 days after receipt of such denial. Such Participant (or his or her duly authorized legal representative) may, upon written request to the Committee, review any documents
pertinent to his or her claim, and submit in writing, issues and comments in support of his or her position. A Participant who fails to file an appeal within the 60-day period set forth in this Section 9(c) shall be prohibited from doing so at
a later date or from bringing an action under ERISA. 
 (d) Review of a Claim on Appeal. Within 60 days after receipt of
a written appeal (unless the Committee determines that special circumstances, such as the need to hold a hearing, require an extension of time, but in no event more than 120 days after such receipt), the Committee shall notify the Participant of the
final decision. The final decision shall be in writing and shall include (i) specific reasons for the decision, written in a manner calculated to be understood by the claimant, (ii) specific references to the pertinent Plan provisions on
which the decision is based, (iii) a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents relevant to the claim for benefits, and (iv) a statement
describing the claimant’s right to bring an action under Section 502(a) of ERISA. 
 13. Participants Deemed to
Accept Plan. By accepting any payment or benefit under the Plan, each Participant and each person claiming under or through any such Participant shall be conclusively deemed to have indicated his acceptance and ratification of, and consent to,
all of the terms and conditions of the Plan and any action taken under the Plan by the Committee or the Company or its Affiliates, in any case in accordance with the terms and conditions of the Plan. 

14. Successors. 

(a) Company Successors. This Plan shall bind any successor of the Company, its assets or its businesses (whether direct or
indirect, by purchase, merger, consolidation or otherwise), in 
  

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the same manner and to the same extent that the Company would be obligated under this Plan if no succession had taken place. In the case of a Change of Control or any transaction in which a
successor would not by the foregoing provision or by operation of law be bound by this Plan, the Company shall require such successor expressly and unconditionally to assume and agree to perform the Company’s obligations under this Plan, in the
same manner and to the same extent that the Company would be required to perform if no such succession had taken place. The term “Company,” as used in this Plan, shall mean the Company as heretofore defined and any successor or assignee to
the business or assets which by reason hereof becomes bound by this Plan. 
 (b) Participant Successors. This Plan shall
inure to the benefit of and be enforceable by the Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees and/or legatees. The rights under this Plan are personal in nature and neither the
Company nor any Participant shall, without the consent of the other, assign, transfer or delegate any rights or obligations hereunder except as expressly provided in this Section. Without limiting the generality of the foregoing, the
Participant’s right to receive any benefits hereunder shall not be assignable, transferable or delegable, whether by pledge, creation of a security interest or otherwise, other than by a transfer by his or her will or by the laws of descent and
distribution and, in the event of any attempted assignment or transfer contrary to this Section, the Company shall have no liability to pay any amount so attempted to be assigned, transferred or delegated. 

15. Resolutions of Disputes. 

(a) Arbitration. Any and all controversies arising out of or relating to the validity, interpretation, enforceability, or
performance of the Plan will be solely and finally settled by means of binding arbitration in Houston, Texas. The arbitration shall be conducted in accordance with the applicable employment dispute resolution rules of the American Arbitration
Association. The arbitration will be final, conclusive and binding upon the parties. All arbitrator’s fees and related expenses shall be divided equally between the parties. 

(b) Legal Fees. The arbitrator shall award the Participant attorneys’ fees and expenses if the Participant prevails on at
least one material issue in dispute, including the attorneys’ fees and expenses the Participant incurs in connection with any appeal or the enforcement of any award. Any award of attorneys’ fees and expenses to the Participant shall be
paid by the Company within 60 days following the award of such fees and costs by the arbitrator (or, if later, when such fees and expenses are incurred), but in no event later than December 31 of the calendar year following the year of the
conclusion of the arbitration (or, if later, December 31 of the calendar year following the year in which such fees and expenses are incurred). 

16. Unfunded Plan Status. All payments pursuant to the Plan shall be made from the general funds of the Company and no special or
separate fund shall be established or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating
in the Plan. 
 17. Withholding. The Company shall have the right to deduct and withhold from any amounts payable under
the Plan such federal, state, local or other taxes as are required to be withheld pursuant to any applicable law or regulation. 

18. Notice. For the purpose of this Plan, notices and all other communications provided for in this Plan shall be in writing and
shall be deemed to have been duly given when actually delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the Secretary at the Company’s corporate headquarters address, and to the
Participant (at the last address of the Participant on the Company’s books and records). 
 19. Amendment and
Termination. The Company may amend (in whole or in part) or terminate the Plan provided that (i) any amendment or termination that reduces the benefits under Section 5(b) or any notice from the Committee revoking the Participant’s
participation in the Plan will not 
  

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be effective prior to the date that is six months after the date the Company has provided written notice to each affected Participant of such amendment or termination or revocation and
(ii) no amendment or termination or revocation will be effective for a period of twelve months after a Change of Control if a Change of Control occurs within six months after the date the Company has provided written notice to each Participant
of such amendment or termination or revocation. Notwithstanding the foregoing, no termination shall reduce or terminate any Participant’s right to receive, or continue to receive, any payments and benefits that became payable in respect of a
termination of employment that occurred prior to the date of such termination of the Plan. 
 20. Governing Law. Except
to the extent preempted by federal law, the provisions of the Plan shall be governed and construed in accordance with the laws of the State of Texas without regard to the conflict of law provisions thereof. 

21. Validity and Severability. The invalidity or unenforceability of any provision of the Plan shall not affect the validity or
enforceability of any other provision of the Plan, which shall remain in full force and effect, and any prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 22. Headings; Interpretation. Headings in this Plan are inserted for convenience of reference only and are not
to be considered in the construction of the provisions hereof. Unless the context clearly requires otherwise, the masculine pronoun wherever used herein shall be construed to include the feminine pronoun. 

23. Section 409A. 

(a) It is intended that the payments and benefits provided under the Plan shall be exempt from the application of the requirements of
Section 409A of the Code. This Plan shall be construed, administered and governed in a manner that effects such intent, and the Committee shall not take any action that would be inconsistent with such intent. Specifically, any taxable benefits
or payments provided under this Plan are intended to be separate payments that qualify for the “short-term deferral” exception to Section 409A of the Code to the maximum extent possible, and to the extent they do not so qualify, are
intended to qualify for the separation pay exceptions to Section 409A of the Code, to the maximum extent possible. To the extent that none of these exceptions (or any other available exception) applies, then notwithstanding anything contained
herein to the contrary, and to the extent required to comply with Section 409A of the Code, if a Participant is a “specified employee,” as determined under the Company’s policy for identifying specified employees on his or her
Termination Date, then all amounts due under this Plan that constitute a “deferral of compensation” within the meaning of Section 409A of the Code, that are provided as a result of a Separation from Service within the meaning of
Section 409A of the Code, and that would otherwise be paid or provided during the first six months following the Termination Date, shall be accumulated through and paid or provided on the first business day that is more than six months after
the date of the Termination Date (or, if the Participant dies during such six-month period, within 90 days after the Participant’s death). 

(b) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by
Section 409A of the Code: (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided
during any calendar year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; and (iii) such payments shall be made on or before the last day of the Participant’s
calendar year following the calendar year in which the expense occurred, or such earlier date as required hereunder. 
 (c) The
payments and benefits provided under this Plan may not be deferred, accelerated, extended, paid out or modified in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon Participants. The tax
treatment of the benefits provided under this Plan is not warranted or guaranteed. Neither the Company, its Affiliates nor their 

 

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respective directors, officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by a Participant (or any other individual claiming a
benefit through the Participant) as a result of this Plan. 
  

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 EXHIBIT A 

SEVERANCE MULTIPLE AND CHANGE OF CONTROL SEVERANCE MULTIPLE 
  

			
	 Severance Multiple
	  	 
		
	 Tier 1 Participants
	  	12
		
	 Tier 2 Participants
	  	6

  

			
	 Change of Control Severance Multiple
	  	 
		
	 Tier 1 Participants
	  	12
		
	 Tier 2 Participants
	  	6

  

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 EXHIBIT B 

EFFECT OF SECTION 4999 EXCISE TAX 

(a) Notwithstanding anything in the Plan to the contrary, in the event it shall be determined that any payment, award, benefit or
distribution (or any acceleration of any payment, award, benefit or distribution) by the Company or any Affiliate or any entity which effectuates a Change of Control (or any of its affiliated entities) to or for the benefit of a Participant, whether
pursuant to the terms of the Plan or otherwise (the “Payments”), would be subject to the excise tax (the “Excise Tax”) imposed by Section 4999 of the Code, then the amounts payable to the Participant under the Plan shall be
reduced first by reducing the payments under Section 5(c)(ii) and then by reducing the health care coverage or payment under Section 5(c)(iii) to the maximum amounts will result in no portion of the Payments being subject to such excise
tax (the “Safe Harbor Cap”). For purposes of reducing the Payments to the Safe Harbor Cap, only amounts payable to Participant under the Plan (and no other Payments) shall be reduced, unless consented to by Participant. 

(b) All determinations required to be made under this Exhibit B shall be made by the public accounting firm that is retained by the
Company as of the date immediately prior to the Change of Control (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and Participant within ten (10) business days of the receipt of notice
from the Company or Participant that there has been a Payment, or such earlier time as is requested by the Company. Notwithstanding the foregoing, in the event (i) the Board shall determine prior to the Change of Control that the Accounting
Firm is precluded from performing such services under applicable auditor independence rules or (ii) the Audit Committee of the Board determines that it does not want the Accounting Firm to perform such services because of auditor independence
concerns or (iii) the Accounting Firm is serving as accountant or auditor for the person(s) effecting the Change of Control, the Board shall appoint another nationally recognized public accounting firm to make the determinations required
hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses (including, but not limited to, the costs of retaining experts) of the Accounting Firm shall be borne solely by the Company, and the
Company shall enter into any agreement requested by the Accounting Firm in connection with the performance of the services hereunder. 

If the Accounting Firm determines that payments shall be reduced to the Safe Harbor Cap, it shall furnish the Participant with a written
statement to that effect, and to the effect that the Participant is not required to report any Excise Tax on the Participant’s federal income tax return. If the Accounting Firm determines that no Excise Tax would otherwise be payable by the
Participant, it shall furnish the Participant with a written statement to such effect, and to the effect that the Participant is not required to report any Excise Tax on the Participant’s federal income tax return. The determination by the
Accounting Firm shall be binding upon the Company and the Participant (except as provided in Section (c) below). 
 (c) If
it is established pursuant to a final determination of a court or the Internal Revenue Service (the “IRS”) proceeding which has been finally and conclusively resolved, that Payments have been made to, or provided for the benefit of, the
Participant by the Company, which are in excess of the limitations provided in this Exhibit B (hereinafter referred to as an “Excess Payment”), the Participant shall repay the Excess Payment to the Company on demand, together with interest
on the Excess Payment at the applicable federal rate (as defined in Section 1274(d) of the Code) from the date of the Participant’s receipt of such Excess Payment until the date of such repayment. As a result of the uncertainty in the
application of Section 4999 of the Code at the time of the determination, it is possible that Payments which will not have been made by the Company should have been made (an “Underpayment”), consistent with the calculations required
to be made under this Section. In the event that it is determined (i) by the Accounting Firm, the Company (which shall include the position taken by the Company, or together with its consolidated group, on its federal income tax return) or the
IRS or (ii) pursuant to a determination by a court, that an Underpayment has occurred, the Company shall pay an amount equal to such Underpayment to the Participant within ten (10) days of such determination together with interest on such
amount at the applicable federal rate from the date such amount would have been paid to the Participant 
  

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until the date of payment. The Participant shall cooperate, to the extent the Participant’s expenses are reimbursed by the Company, with any reasonable requests by the Company in connection
with any contests or disputes with the IRS in connection with the Excise Tax or the determination of the Excess Payment. Notwithstanding the foregoing, in the event that amounts payable under the Plan were reduced pursuant to Section (a) of
this Exhibit B and the value of stock options is subsequently re-determined by the Accounting Firm within the context of Treasury Regulation §1.280G-1 Q/A 33 that reduces the value of the Payments attributable to such options, the Company shall
promptly pay to the Participant any amounts payable under the Plan that were not previously paid solely as a result of Section (a) up to the Safe Harbor Cap. 

 

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 EXHIBIT C 

COVENANTS 
 1.
Confidential Information 
 (a) For purposes of this Exhibit C “Confidential Information” means ideas, concepts,
information and material that constitute trade secrets and/or proprietary and confidential information of the Company and its Affiliates. Confidential Information includes, but is not limited to, information and knowledge pertaining to products and
services offered, ideas, plans, manufacturing, marketing, pricing, distribution and sales methods and systems, sales and profit figures, customer and client lists, and relationships between the Company or its subsidiaries and their respective
affiliates, dealers, distributors, wholesalers, customers, clients, suppliers and other who have business dealings with the Company or any of its subsidiaries. 

(b) Confidential Information is the sole and exclusive property of the Company. The Participant must not, either during or after the term
of this Agreement, directly or indirectly disclose any Confidential Information to any third party without the written permission of the Board, except as required by his employment with the Company, unless such information is in the public domain
for reasons other than the Participant’s conduct, or except as may be required by law (provided that the Participant shall give the Company notice of any disclosure required by law so that the Company shall have a reasonable opportunity to
attempt to preclude such disclosure). The Participant shall not use Confidential Information to his own advantage or the advantage of parties other than the Company. The Participant shall take all steps necessary to protect the confidentiality of
all Confidential Information and to inform the Company immediately of any attempted or actual disclosure of Confidential Information to any third party. The Participant agrees that, upon request of the Company or termination of employment, whichever
is first, he shall turn over to the Company all documents, memoranda, notes, plans, records or material in his possession or control that contain or are derived from Confidential Information. 

(c) If at any time the Participant has any material information which belongs to any former employer that the Participant is not entitled
to have or use for the benefit of the Company and its Affiliates, the Participant shall promptly return any such materials to the Participant’s former employer or obtain any necessary consents. The Participant is not permitted to use or refer
to any such materials in the performance of the Participant’s duties. 
 2. Non-Competition. During the period of the
Participant’s employment with the Company and its Affiliates and continuing for the number of months after the Termination Date equal to the applicable of the Participant’s Change of Control Severance Multiple or Severance Multiple (the
“Restricted Period”), the Participant shall not directly or indirectly own any interest in, manage, control, participate in, be employed by, consult with, render services for, or in any manner engage in any Competing Business within any
geographical area in which the Company or any of its controlled affiliates engage or have active plans at the Termination Date to engage in such businesses. The restriction is without specific geographic limitation inasmuch as the Company and its
Affiliates conduct business on a nationwide and international basis, that its sales and marketing prospects are for continued expansion both nationally and internationally, that access to the Company’s Confidential Information would provide any
national or international competitor with an unfair competitive advantage, and that, therefore, the restrictions set forth in this Section are reasonable and properly required for the adequate protection of the legitimate interests of the Company.
Nothing herein shall prohibit the Participant from owning beneficially not more than 2% of any class of outstanding equity securities or other comparable interests of any issuer that is publicly traded, so long as the Participant has no active
participation in the business of such issuer. For purposes hereof, the term “Competing Business” means any business that is engaged in the production or sale of products that compete with the products produced, distributed or sold by the
Company or its controlled affiliates (or are in the process of being actively developed by such entities) as of the Date of Termination. This restriction shall not prevent the Participant from working for a subsidiary, division, venture or other

  

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business or functional service unit (collectively a “Unit”) of a Competing Business so long as (i) such Unit is not itself a Competing Business, (ii) the Participant does not
manage or participate in business activities or projects of any Unit that is a Competing Business, and (iii) the Participant otherwise strictly complies with the restrictive covenants contained in this Exhibit. 

3. Nonsolicitation. 

(a) During the Restricted Period the Participant must not, as an individual, employee, consultant, agent, owner, partner, director or
stockholder, directly or indirectly solicit, call on or accept any business from any Customer of the Company or its subsidiaries. The term “Customer” means all persons, firms or corporations to whom the Company or its subsidiaries sold
products at any time during the one year period immediately preceding when the Participant’s employment with the Company ceased, notwithstanding that some or all of such persons, firms or corporations may have been induced to give business to
the Company or its subsidiaries by the Participant. 
 (b) During the Restricted Period the Participant must not take any action
to divert from the Company or its subsidiaries any opportunity in the scope of any present or contemplated future business of the Company or its subsidiaries that arose while he was employed by the Company. 

(c) During the Restricted Period the Participant must not directly or indirectly solicit, hire, employ or engage any employee or any
former employee of the Company or its Affiliates whose employment with the Company or its Affiliates ceased less than one year before the date of such solicitation, enticement, hiring or engagement. 

4. Non-Disparagement. Participant at all times, both during and after Participant’s employment with the Company, shall not make any
statement disparaging the Company, any officer, director, employee or other service provider for the Company, or any product or service offered by the Company. 

5, Scope of Restrictions. In the event any provision relating to the time period or scope of the restrictions in this Exhibit C shall be
declared by a court of competent jurisdiction to exceed the maximum time period or scope such court deems reasonable and enforceable, such time period or scope shall be deemed amended and reformed to the minimum degree necessary to be enforceable.

  

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