Document:

SETTLEMENT AGREEMENT AND
GENERAL RELEASE

 

This Settlement Agreement and General Release
(hereinafter "Agreement") is entered into by and between ZipRealty., Inc. (hereinafter “Defendant”) and the
Division of Labor Standards Enforcement, Department of Industrial Relations, State of California (hereinafter "DLSE").

 

RECITALS

 

A.                  
On September 26, 2011, the DLSE filed a Complaint against Defendant ZipRealty, Inc. in the Superior Court of California
for the County of Alameda, Case No.RG -1159687. The Complaint alleges that Defendant failed to properly pay minimum wages and overtime
pay to Defendant’s real estate agent employees as required by Labor Code sections 510, 1193.6, 1197, and Industrial Welfare
Commission (hereafter “IWC”) Order 4-2001 sections 3 and 4; failed to pay all wages due to their real estate agent
employees at the time of termination pursuant to Labor Code sections 201and 202; and failed to provide all of their real estate
agent employees with wage statements that complied with Labor Code section 226(a). The Complaint seeks back wages, interest, waiting
time penalties, damages pursuant to Labor Code section 226(e); and attorneys fees and costs.

 

B.                   
By entering into this Agreement, Defendant does not admit any liability or wrongdoing of any kind and expressly denies the
same. Nothing in this Agreement, the settlement proposals exchanged by the parties, or any motions filed or Orders entered pursuant
to this Agreement, is to be construed or deemed as an admission by Defendant of any liability, culpability, negligence, or wrongdoing
of any kind or an admission that any of the facts that have been alleged or could have been alleged by the DLSE are true. This
Agreement, each of its provisions, its execution, and its implementation, including any motions filed or Orders entered, shall
not in any respect be offered, construed as, or deemed admissible in any arbitration or legal proceedings for any purpose, except
as necessary to approve, interpret, or enforce this Agreement as between the parties hereto or as against any persons who may assert
claims in the future that are precluded by this Agreement. Furthermore, neither this Agreement, any motions filed, settlement proposals
exchanged by the parties, nor any Orders entered pursuant to this Agreement shall constitute an admission, finding, or evidence
that any requirement for class certification has been satisfied in this or any other action.

 

    	 

    	 

    

 

D.                   
To avoid the time, expense and uncertainty
of litigation of these matters, the parties now have agreed to settle all of their differences on the terms and in the manner set
forth in this Agreement.

 

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the
mutual covenants and agreements contained herein, the recitals set forth above, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

1.     
Total Settlement Amount. Defendant agrees to pay the total amount of Five Million Dollars ($5,000,000.00)
to DLSE and to Defendant’s former employees, subject to supplementation pursuant to paragraph 15.

 

2.     
Schedule of Payments.  Defendant shall pay to “Division of Labor Standards Enforcement” the attorneys
fees and costs set forth in paragraph 3(b) within fifteen (15) days of the execution of this Agreement. Within that same fifteen
(15) day period Defendant shall deposit with the Claims Administrator the sum of Four Million Eight Hundred Thousand Dollars ($4,800,000.00)
which shall be held in trust for the DLSE until distributed in accordance with the terms of this Agreement.

 

    	 

    	 

    

 

3.     
Computation of Payments. In consideration of this Agreement, Defendant agrees as follows:

 

		(a)	To pay back wages to former employees who are due compensation under this Agreement for unpaid minimum wages, for the period
from March 28, 2007 to August 30, 2010, in the total amount of Four Million Eight Hundred Thousand Dollars ($4,800,000.00), to
the persons and in the amounts shown in Exhibit “A” attached hereto, which is incorporated by reference herein and
made a part hereof. Defendant shall remain responsible for the employer’s share of F.I.C.A. taxes and all other employer
tax responsibilities arising from or related to the back wages distributed as those back wages are actually distributed to former
employees;

 

		(b)	The gross amounts in Exhibit “A” shall be calculated with a base payment of Five Hundred Dollars ($500) to each
former employee real estate agent employed at any time during the period of March 28, 2007 and August 31, 2010 and the remainder
being distributed on a pro rata basis to compensate for unpaid minimum wages during that period with the assumption of a forty
hour work week for each week employed during that period. However, no distribution shall be made to Elizabeth Williams, Steven
Kinney, Nadine Radovicz, Patricia Parsons, or Marilee Tomczak who have recovered separately and released their claims.

 

 

    	 

    	 

    

 

		(c)	To pay attorneys fees and costs associated with this litigation to DLSE in the amount of Two Hundred Thousand Dollars ($200,000.00).

 

		4.	Exchange of Electronic Information regarding Payments to Eligible 

 

Employees. Defendant has provided electronic files
(hereinafter “Flat Files”) to the DLSE for the DLSE’s review, reflecting the back wage computations that Defendant
has made to reach the distribution schedules contained in Exhibit “A”. Defendant agrees to fully cooperate with the
DLSE in providing any further clarification of the data that the DLSE deems necessary and confirming the correctness of Defendant’s
calculations. This paragraph shall also be applicable to distributions pursuant to paragraph 15, if any.

 

5.     
Retention of a Third Party Administrator. Defendant has retained Gilardi & Co., LLC to serve as a third
party administrator (hereinafter “Claims Administrator”) to disburse funds to eligible former employee real estate
agents in accordance with the instructions of the DLSE, as trustee and for the benefit of eligible former employees. Defendant
agrees to pay the administrative costs associated with the retention of the Claims Administrator and the distribution of all payments
to eligible former employees under this Agreement. Defendant will provide the Claims Administrator and the DLSE with: (1) the necessary
identifying and wage information for former employees to be paid; (2) the last known addresses for former employees to be paid;
(3) the most recent W-4 withholding information for each individual, and ; (4) the amounts to be paid to each such individual in
accordance with Exhibit “A”.

 

    	 

    	 

    

 

6.     
Notification to Former Employees of Settlement.

 

		(a)	Initial Notification. Within 30 days of the execution of this Agreement the Claims Administrator shall mail to each
former employee listed, at his/her last known home address, a Notice of Settlement in the form and substance of Exhibit “B”
attached hereto, which is incorporated herein and made a part hereof. The Claims Administrator shall also provide an individualized
Release of Claims, a copy of which is attached hereto as Exhibit “C” and is incorporated herein by reference. An individualized
copy of Exhibit “C” shall be issued to each former employee real estate agent listed, which shall state: the individual’s
name; last four numbers of the individual’s social security number; the individual’s employee number; the individual’s
last known home address; and an itemized accounting of the gross amount that individual will receive from the 2012 distribution,
taxes that will be withheld from the 2012 distribution, and the net amount of the check to be issued as provided for in Exhibit
“A”.

 

		(b)	Reminder Notifications. On December 3, 2012, the Claims Administrator shall send a second mailing to all individuals
listed on Exhibit “A” that have not responded by that date. On January 14, 2013, a third mailing shall be sent by the
Claims Administrator to each individual on Exhibit “A” that has not responded by that date. Each reminder notification
shall include a copy of Exhibit “B” , the individualized Exhibit “C” for that individual, and a stamped,
self-addressed return envelop.

 

    	 

    	 

    
 

 

		(c)	ZipRealty and DLSE shall be entitled to independently encourage former employees to claim the funds available under this settlement;
however, neither ZipRealty nor the DLSE shall discourage any former employees from doing so.

 

7. Release of Claims by Recipients
of Payments. Each mailing to a former employee pursuant to paragraph 6 shall include a Release of Claims in the form and
substance of Exhibit “C” as well as a postage pre-paid return envelope for return of the executed release to the Claims
Administrator. Return of a fully executed Release of Claims is a condition precedent to payment of any amount to any individual
under this Agreement.

 

8. Verification of Claimants.
Defendant shall provide the Claims Administrator with the name and social security number for each individual listed. The Claims
Administrator shall verify for matches of the social security number provided by the individual on the returned Release of Claims
with that provided by Defendant. In the event of any questions as to the verification of any individual returning a Release of
Claims, the Claims Administrator shall notify DLSE and Defendant and make available, as necessary, copies and/or originals of the
materials to DLSE for evaluation. DLSE shall provide further written instructions as to any such claims to the Claims Administrator.

 

9. Disbursement of Payments.

 

(a) 2012 Distribution to
Former Employees. Commencing on November 1, 2012 (11/1/12), the Claims Administrator shall mail checks to each individual
that has returned a fully executed Release of Claims, verified in accordance with paragraph 8, for the net payment amount listed
for that individual. Payments shall be made to a former employee on the later of November 1, 2012 (11/1/12), or the fifteenth day
of the month following the month in which a verified Release of Claims is received. The check shall be accompanied by a copy of
the individual’s Release of Claims.

 

    	 

    	 

    

 

(b) Subsequent Distributions
to Former Employees. Not later than sixty (60) days after Defendant provides additional funds pursuant to paragraph 15,
if that occurs, accompanied by a Supplemental Exhibit “A” and notification of approval by DLSE is provided to the Claims
Administrator pursuant to paragraph 15, the Claims Administrator shall mail supplemental checks for wages to individuals listed
on a Supplemental Exhibit “A” for the supplemental amounts contained therein, less any required withholdings for taxes
to each individual listed on the Supplemental Exhibit “A” that has returned an executed Release of Claims. Each such
supplemental payment will be accompanied by an accounting of the payment and taxes withheld.

 

10. Distribution of Notice of Settlement
to Deceased Employees’ Estates. At the time of its disbursement of back wage payments and interest, Defendant, by
its Claims Administrator, shall mail to the last known addresses of deceased employees the documents necessary to disburse payments
to the estates of deceased employees. Within 30 days from the Claim Administrator’s receipt of such documents from the authorized
representatives of the estates, Defendant, by its Claims Administrator, will mail to the authorized representatives of deceased
employees’ estates the respective sums they are due, using the agreed-upon methodology, less required payroll tax withholdings
on the back wage payments.

 

    	 

    	 

    
 

 

11. Verification of Last Known Addresses.
Defendant shall provide the Claims

 

Administrator with the last known address for every individual
listed. Whenever any notice or checks to employees or former employees are returned as undeliverable, the Claims Administrator
shall notify Defendant and DLSE. Upon such notification the Claims Administrator will use a mutually agreeable search service to
locate the former employees. The obligation to use such a search service shall not apply to any former employee due less than $100.
The Claims Administrator will issue checks for back wages to any former employees who are subsequently so located, no later than
30 days after each such former employee is located and returns a fully executed Release of Claims.

 

12. Record of Payments to Eligible
Employees. Defendant through its Claims Administrator will keep a record of all back wage payments it makes, including
each check or electronic transfer number, the date it made each payment, and the date each payment cleared the bank. Defendant
will retain proof of payment information to include bank statements, verification of electronic fund transfers, and the ability
to access or obtain copies of cancelled checks for a period of five years, and will provide copies of any of these documents to
the DLSE within 15 days upon written request from the DLSE. The Claims Administrator will submit an accounting to DLSE within sixty
(60) days after each distribution required under this Agreement, including but not limited to, disposition of all checks. The DLSE
shall retain the right to audit the administration of claims by the Claims Administrator at the DLSE's expense. Three months after
each distribution provided for in paragraphs 2, 9, and 15 of this Agreement, Defendant or the Claims Administrator shall provide
a “flat file” to the DLSE, listing all employees for whom back wages were unclaimed because they were not located,
they refused to accept the payment, or they failed to provide an executed Release of Claims.

 

    	 

    	 

    

 

13. Availability of Unclaimed Funds
For Other Settlements or Judgments. The parties to this Agreement agree that any sums allocated to former employee real
estate agents of Defendant that remain unclaimed from the Claims Administrator shall be available to compensate those individuals
in the amounts set forth in Exhibit “A” after April 1, 2013 in other legal proceedings which concern, in whole or in
part, claims for the payment of the minimum wage. Unclaimed disbursements to former employee real estate agents may be paid to
those employees by the Claims Administrator in settlement of, or satisfaction of judgment in, other litigation concerning alleged
wage and hour violations by Defendant with the following restrictions: (1) the full amount of distribution to a former employee
real estate agent in Exhibit “A” shall be paid without reduction or deduction for fees, costs, or other matters, other
than tax withholdings, directly to the former employee real estate agent by the Claims Administrator; (2) sums deposited for payment
to former employee real estate agents shall remain held in trust with the Claims Administrator until such time as payment is made
directly to the former employee real estate agent or any residual unclaimed funds are paid to DLSE for deposit in the Industrial
Relations Unpaid Wage Fund pursuant to paragraph 14; and (3) DLSE is provided with a full accounting of all payments made pursuant
to this paragraph within fifteen (15) days after any month in which any payment is made pursuant to this paragraph and as may be
requested by DLSE.

 

14. Reversion to Unpaid Wage Fund.
On October 1, 2014, responsibility for administering any amounts of back wages that remain unclaimed by the former employees shall
be transferred from the Claims Administrator to the DLSE. The Claims Administrator shall make payment of that amount to the DLSE
for deposit into the Industrial Relations Unpaid Wage Fund for the benefit of eligible employees and the estates of deceased eligible
former employees who may subsequently claim such funds. If any further distribution is made pursuant to paragraphs 9 or 15 any
unclaimed funds shall be forwarded in the same manner to the Industrial Relations Unpaid Wage Fund or six (6) months after such
distribution is made, whichever is later. For each such payment made to the Industrial Relations Unpaid Wage Fund, the Claims Administrator
shall forward these amounts to the DLSE by means of a single check made payable to “California Division of Labor Standards
Enforcement.” With its aforementioned payment, Defendant shall provide the DLSE an accounting which lists each individual
who failed to obtain his or her payment and which provides the employee’s social security number, date of birth, and most
recent home address. The accounting shall further state the total amount due to the individual under this Agreement and the amount
remitted to the DLSE Unpaid Wage Fund for that individual. The DLSE shall thereafter be responsible for making funds available
to those individuals pursuant to either paragraph 9, 11, or 13, and the Claims Administrator shall be relieved of the duties specified
herein with respect to such payments. ZipRealty will not be liable for paying any costs of the DLSE in carrying out those duties.

 

    	 

    	 

    

 

15. Assignment of Claims.
In addition to the consideration stated in paragraph 1, Defendant assigns to DLSE fifty percent (50%) of the gross amount of any
recovery, credit, rebate, or other form of compensation obtained by it for indemnification, contribution, malpractice claim, or
any other reason on account of, in whole or in part, the claims made against Defendant in this action or in any action where claims
for minimum wages and/or overtime pay have been made against Defendant concerning its employment of real estate agents. Defendant
agrees to immediately notify DLSE of any such claims made, legal actions of any sort commenced, settlements entered, whether oral
or written, and any recovery, credit, rebate, or other form of compensation obtained. Defendant shall provide to DLSE copies of
all documentation of demands, claims, correspondence, pleadings, settlements, and payments in reference to such claims. Defendant
shall notify any third party payer of this assignment and direct that fifty percent (50%) of any recovery or other such cash payment
be deposited with the Claims Administrator which shall be held in trust for DLSE until distribution to former employees. In the
case of a credit or other non-cash payment, Defendant will make payment of fifty percent (50%) of the full monetary value of any
recovery to the Claims Administrator within fifteen days of any such credit or other non-cash payment with notice of the amount
of payment to DLSE. The Claims Administrator shall hold such funds in trust for DLSE until distribution to former employees and
shall notify DLSE of all such funds received. Within thirty (30) days of deposit of any sums with the Claims Administrator pursuant
to this paragraph Defendant shall prepare a Supplemental Exhibit “A” which distributes on a pro rata basis the funds
to all individuals listed on Exhibit “A” to compensate for unpaid minimum wages during the period of March 28, 2007
and August 31, 2010, with the assumption of a forty hour work week. Defendant shall provide DLSE with the Supplemental Exhibit
“A” for review. Upon notification of approval of the Supplemental Exhibit “A” by DLSE, the Claims Administrator
shall issue checks pursuant to paragraph 9.

 

16. Dismissal With Prejudice.
Concurrently with its return of two (2) executed copies of this Agreement to counsel for Defendant, the DLSE shall provide counsel
with an executed Request for Dismissal of the entire Action, with prejudice, against all defendants, which counsel shall be entitled
to file with the Alameda County Superior Court after Defendant and/or the Claims Administrator have paid the settlement sums referenced
in Paragraph 1 in their entirety and have provided DLSE with a fully executed Agreement. This Agreement is conditional upon the
Court's dismissal of the entire Action with prejudice against all defendants.

 

    	 

    	 

    

 

17. General Release of Known and Unknown
Claims Against Releasees.

 

(a) Released
Claims by the DLSE. 

 

In consideration of this Agreement,
the DLSE hereby forever releases, acquits, relieves, discharges and covenants not to sue Defendant, and each of its officers, directors,
shareholders, agents, representatives, consultants, attorneys, past and current parent corporations, or past and current affiliated
corporations, organizations or entities (hereinafter collectively the "Releasees"), from or for any and all claims, rights,
actions, complaints, demands, causes of actions, obligations, promises, contracts, agreements, attorneys' fees, costs and liabilities,
interest, statutory penalties, civil penalties, liquidated damages, fees, and expenses and costs arising there from, whether or
not known, suspected or claimed, matured or unmatured, fixed or contingent, which the DLSE ever had, now has, or may claim to have
against the Releasees from March 28, 2007 to the date this Agreement is executed, pertaining to Defendant’s alleged failure
to properly pay its California real estate agents, including specifically any of the following pay practices of Defendant, to the
extent they occurred or are alleged to have occurred from March 28, 2007 to August 31, 2010: (1) payment of the minimum wage; (2)
payment of overtime premium; (3) failure to make timely payment of final wages; (4) failure to provide employee real estate agents
with wage statements that complied with the requirements of Labor Code section 226(a); and (5) failure to pay meal period or rest
period premiums pursuant to Labor Code section 226.7, (collectively “the Released Claims”).

 

    	 

    	 

    

 

(b) Waiver of California Civil Code § 1542.

 

The DLSE’s Released Claims
include all such claims as respectively defined above, whether known or unknown. Thus, even if the DLSE discovers facts in addition
to or different from those that it now knows or believes to be true with respect to the subject matter of the Released Claims,
those claims will remain released and forever barred. Therefore, the DLSE expressly waives and relinquishes the provisions, rights
and benefits of section 1542 of the California Civil Code, which provides:

 

A general release does not extend to claims which the creditor
does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must
have materially affected his or her settlement with the debtor. 

 

18. Successors and Assigns.
This Agreement, and all the terms and provisions hereof, shall be binding upon and shall inure to the benefit of the parties and
their respective heirs, legal representatives, successors and assigns.

 

    	 

    	 

    

 

19. Joint Preparation. The parties acknowledge that this Agreement was jointly prepared
by them, by and through their respective legal counsel, and any uncertainty or ambiguity existing herein shall not be interpreted
against any of the parties, but otherwise according to the application of the rules on interpretation of contracts.

 

20. Voluntary Execution on Advice
of Counsel. The parties have, in all respects, voluntarily and knowingly executed this Agreement on advice and with approval
of their respective legal counsel. The parties hereto specifically represent that they have thoroughly discussed all aspects of
this Agreement with their attorneys, that they have carefully read and fully understand all the provisions of this Agreement,
and that they are voluntarily entering into this Agreement. 

 

21.  Representations and Warranties.
The parties to this Agreement represent and warrant as follows:

 

(a)They have had an opportunity
to seek independent tax advice from accountants, attorneys or tax advisors of their own choice with respect to the tax ramifications,
if any, which may result from entering into this Agreement;

 

(b)They have made such investigation
of the facts pertaining to this Agreement as they deem necessary; and

 

(c)The terms of this Agreement
are contractual and are the result of good-faith, arms-length negotiations.

 

22. Severability. Should a
court determine that any portion, word, clause, phrase, sentence or paragraph of this Agreement is void or unenforceable, such
portion shall be considered independent and severable from the remainder, the validity of which shall remain unaffected. Should
a court declare any portion of the release of claims to be void or unenforceable, the DLSE agrees to execute a valid release of
claims of equal scope.

 

    	 

    	 

    
 

 

23. Singular/Plural, Etc.
Whenever required by the context, as used in this Agreement, the singular number shall include the plural, and the masculine gender
shall include the feminine and the neuter, and vice versa. The captions of the paragraphs of this Agreement are for convenience
only and shall not be considered or referred to in resolving questions of construction and/or interpretation.

 

24. Entire Integrated Agreement.
This Agreement constitutes the entire integrated agreement between the parties and supersedes any and all other agreements, understandings,
negotiations, or discussions, either oral or in writing, express or implied, between the parties regarding the matters released
herein. The parties to this Agreement each acknowledge that no representations, inducements, promises, agreements or warranties,
oral or otherwise, have been made by them, or anyone acting on their behalf, which are not embodied in this Agreement, that they
have not executed this Agreement in reliance on any such representation, inducement, promise, agreement or warranty, and that no
representation, inducement, promise, agreement or warranty not contained in this Agreement, including, but not limited to, any
purported supplements, modifications, waivers or terminations of this Agreement, shall be valid or binding, unless executed in
writing by all of the parties to this Agreement.

 

25. Default. Any payment not
delivered to the Claims Administrator or delivered to DLSE in accordance with the requirements of this Agreement shall constitute
a default. Any default not cured within ten (10) days from demand by DLSE shall immediately and irrevocably entitle DLSE to entry
of judgment in the amount of Eight Million Dollars ($8,000,000.00), less a credit for all principal payments received, upon application
to the court. In the event of any default DLSE shall also be entitled to simple interest at the annual rate of 10% on the unpaid
balance commencing November 1, 2012, which shall be added to the unpaid balance at the time of entry of judgment upon application
to the court. In the event of any default by Defendants, DLSE shall be entitled to an award of attorneys fees for all post-default
attorney work and collection activities undertaken by DLSE to collect the judgment.

 

    	 

    	 

    
 

 26. Stipulation for Entry
of Judgment. A condition precedent to this Agreement becoming effective is execution of the STIPULATION FOR ENTRY OF JUDGMENT,
the form and content of which is attached hereto as Exhibit “D”. Defendant shall sign and date Exhibit “D”
and the original shall be forwarded promptly to the DLSE at the address provided above. The Labor Commissioner agrees that Attachment
“D” shall not be filed with the court unless there is a default by Defendant that is not cured within ten (10) days
of notice of default. Once ZipRealty has filed the Dismissal With Prejudice pursuant to section 16 herein, the Labor Commissioner
shall destroy the executed STIPULATION FOR ENTRY OF JUDGMENT.

 

27. Judicially Supervised Settlement.
 Defendant and Labor Commissioner stipulate that this Agreement is a settlement pursuant to Code of Civil Procedure 664.6 and
that the court shall retain jurisdiction over them to enforce the settlement until performance in full of its terms.

 

    	 

    	 

    
 

 

28. Notice. Any notice required
to be provided under this Agreement to DLSE shall be addressed to:

 

Division of Labor Standards Enforcement

Legal Unit

455 Golden Gate Ave., 9th Floor

San Francisco, CA 94102

Attention: David Balter 

 

 Any notice required to be provided
to Defendant shall be addressed to: 

  

Kerr & Wagstaffe LLP

100 Spear St., 18th Floor

San Francisco, CA 94105

Attention: Michael von Loewenfeldt 

 

29.  No Waiver. Failure to
insist on compliance with any term, covenant or condition contained in this Agreement shall not be deemed a waiver of that term,
covenant or condition, nor shall any waiver or relinquishment of any right or power contained in this Agreement at any one time
or more times be deemed a waiver or relinquishment of any right or power at any other time or times.

 

30. Protective Order. Certain
confidential information has been produced in this matter subject to a Stipulation and Protective Order Regarding Confidential
Information filed May 30, 2012.  That Order shall continue to govern use of the information described in paragraph 3 of the
Protective Order after the settlement.  However, ZipRealty agrees that DLSE may reveal statistics about annual mean or median
compensation paid to agents, the number of agents employed, and statistics concerning the duration of employment derived from that
confidential information to members of the California Legislature, their staff, and employees of the Executive branch of the State
of California, provided that the following three conditions are met:  (1) no such disclosure shall take place prior to January
1, 2013; (2) no such statistics derived from the payroll data provided by ZipRealty in this action may be disclosed to the public
via press release, press conference, or any other publication by DLSE officials or representatives; and (3) the DLSE shall not
use ZipRealty’s name in connection with the disclosure, but will instead refer to “a real estate company against which
the DLSE brought litigation” or words to that effect.

 

    	 

    	 

    
 

 

31.  Attorneys’ Fees.
Except as otherwise provided in this Agreement, each party shall bear its own attorneys' fees and costs, and except in a future
proceeding brought to enforce the terms of this Agreement. The prevailing party in any future proceeding brought to enforce the
terms of this Agreement shall be entitled to recover from the other party reasonable attorneys' fees incurred as a result of such
action. Any such future proceeding shall be brought in California and subject to the laws of the State of California.

 

32.  Counterparts. This Agreement
may be executed in one or more facsimile counterparts, and the counterparts signed in the aggregate shall constitute a single,
original instrument.

 

IN WITNESS WHEREOF, the undersigned
have executed this Settlement Agreement and General Release on the dates set forth hereinafter.

 

	
        DIVISION OF LABOR STANDARDS ENFORCEMENT,

DEPARTMENT OF INDUSTRIAL RELATIONS, 

STATE OF CALIFORNIA
	ZIPREALTY, INC.
	 	 
	 	 
	
        By: /s/ Ethera Clemons

        

               Ethera Clemons

        

               Deputy Chief Labor Commissioner 
	
        By: /s/ Charles C. Baker

        

               Charles C. Baker

        

               Chief Executive Officer 

	 	 
	
        Dated: 9/26/12 
	
        Dated: 9/28/12Exhibit 10.1

 

GSE HOLDING, INC.

 

CONSULTING AND TRANSITION AGREEMENT

 

This Consulting and
Transition Agreement (the “Agreement”), dated as of September 27, 2012 (the “Effective Date”),
is by and between William F. Lacey (“Executive”) and GSE Holding, Inc., a Delaware corporation (the
“Company”).

 

WHEREAS, on August
3, 2012, the Company announced that Executive would resign from his position as Executive Vice President and Chief Financial Officer
of the Company, which the parties have agreed will be effective as of the Effective Date; and

 

WHEREAS, the Company
desires to continue to engage the Executive as an employee for the benefit of the Company on the terms and conditions set forth
herein.

 

NOW, THEREFORE, for
the promise and covenants set forth herein and for such other good and valuable consideration, the receipt of which is hereby acknowledged,
the Executive and Company enter into this Agreement on the following terms and conditions:

 

1.          Resignation.
The Executive acknowledges and agrees that effective as of and after the Effective Date, except as otherwise specifically provided
herein and in Section 5(a), the Executive will not represent, himself as being a director, principal, or officer of the Company
or of its subsidiaries or affiliates (collectively with the Company, the “Company Group”) for any purpose. Effective
as of the Effective Date, the Executive resigned (and will be deemed to have resigned without any further action by the Executive)
from all of the Executive’s positions with the Company Group (and as a fiduciary of any benefit plan of the Company Group),
including without limitation, Executive Vice President and Chief Financial Officer of the Company, other than as an employee of
the Company. The Executive shall execute such additional documents as requested by the Company to evidence the foregoing.

 

2.          No
Other Compensation. The Executive acknowledges and agrees that the payments provided pursuant to this Agreement are in full
discharge of any and all liabilities and obligations of the Company Group to the Executive as of Effective Date, monetarily or
with respect to employee benefits or otherwise, including, but not limited to, any and all obligations arising under the agreements
specified in Section 9 or any other alleged written or oral employment agreement, policy, plan or procedure of the Company Group
and/or any alleged understanding or arrangement between the Executive and the Company Group.

 

3.          Release.

 

(a)          General.
In consideration for the payment and benefits to be provided and paid to or executed on behalf of the Executive pursuant to this
Agreement, including the amounts and benefits described in Section 5(c), the Executive, and for the Executive’s heirs, executors,
administrators, trustees, legal representatives and assigns (hereinafter referred to collectively as “Releasors”),
forever release and discharge the Company and the Company Group and their past, present and future parent entities, direct and
indirect subsidiaries, divisions, affiliates and related entities, successors and assigns, assets, employee benefit plans or funds,
and any of its or their respective past, present and/or future directors, managers, officers, fiduciaries, attorneys, agents, trustees,
administrators, employees and assigns, whether acting on behalf of the Company Group or in their individual capacities (collectively,
the “Company Entities”) from any and all claims, demands, causes of action, fees and liabilities of any kind
whatsoever, whether known or unknown, which the Executive ever had, now has, or may have against any of the Company Entities by
reason of any act, omission, transaction, practice, plan, policy, procedure, conduct, occurrence, or other matter up to and including
the date on which the Executive signs this Agreement.

 

    	 

    	 

    

 

(b)          Scope
of Release. Without limiting the generality of the foregoing, this Agreement is intended to and shall release the Company Entities
from any and all claims, whether known or unknown, which Releasors ever had, now have, or may have against the Company Entities
arising out of the Executive’s employment and/or the Executive’s separation from that employment, including, but not
limited to: (i) any claim under the Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans with
Disabilities Act, the Age Discrimination in Employment Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the
Employee Retirement Income Security Act, the Fair Credit Reporting Act, the Immigration Reform Control Act, the Occupational Safety
and Health Act, the Equal Pay Act, the Older Workers Benefit Protection Act, the Uniformed Services Employment and Reemployment
Rights Act, the Worker Adjustment and Retraining Notification Act, the Employee Polygraph Protection Act, and all other federal,
state or local civil rights, retaliation, discrimination or labor laws; or under any other federal, state or local civil or human
rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort,
or under common law; or arising under any policies, practices or procedures of the Company; (ii) any other claim (whether
based on federal, state, or local law, statutory or decisional) relating to or arising out of the Executive’s employment,
the terms and conditions of such employment, the termination of such employment, and/or any of the events relating directly or
indirectly to or surrounding the termination of that employment, including, but not limited to, breach of contract (express or
implied), wrongful discharge, detrimental reliance, defamation, emotional distress or compensatory or punitive damages; and (iii)
any claim for attorneys’ fees, costs, disbursements and/or the like. Nothing in this Agreement shall be a waiver of: (x)
claims that may arise after the date on which the Executive signs this Agreement, (including the right to enforce the terms of
this Agreement,) (y) any insurance and/or indemnity rights the Executive may be entitled to by law or under the by-laws or charter
of any member of the Company Group and any rights Executive may be entitled to pursuant to the Indemnification Agreement, dated
December 14, 2011, by and between Executive and the Company (the "Indemnification Agreement"), which agreement
shall continue in full force and effect notwithstanding any provision of this Agreement to the contrary, and (z) claims that cannot
be waived under law, including the right to file an administrative charge or participate in an administrative investigation or
proceeding, subject to Section 3(c) below.

 

(c)          
Complete Bar of Claims. The Executive acknowledges and agrees that by virtue of the foregoing, the Executive has waived
all relief available to the Executive (including, without limitation, monetary damages, equitable relief and reinstatement) under
any of the claims and/or causes of action waived in this Section 3. Therefore, the Executive agrees that the Executive will not
seek or accept any award or settlement from any source or proceeding (including, but not limited to, any proceeding brought by
any other person or by any government agency) with respect to any claim or right waived in this Agreement. The Executive expressly
waives all rights afforded by any statute that limits the effect of a release with respect to unknown claims. The Executive understands
the significance of his release of unknown claims and his waiver of statutory protection against a release of unknown claims. The
Executive agrees that he will not be entitled to or accept any benefit from any claim or proceeding within the scope of this Agreement
that is filed or instigated by him or on his behalf with any agency, court, or other government entity.

 

    	2

    	 

    

 

(d)          No
Admission. The parties agree and acknowledge that the Agreement, and the settlement and termination of any asserted or unasserted
claims against the Company and the Company Entities pursuant to this Agreement, are not and shall not be construed to be an admission
of any violation of any federal, state, or local statute or regulation, or of any duty owed by the Company or any of the Company
Entities to the Executive.

 

(e)          Acknowledgements.
The Executive acknowledges and agrees that (i) he is waiving all rights to sue or obtain equitable, remedial, or punitive relief
from any or all Company Entities of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, attorneys’
fees, and any form of injunctive relief, (ii) he has signed this Agreement voluntarily and knowingly in exchange for the consideration
described herein, which he acknowledges is adequate and satisfactory to him and which he acknowledges is in addition to any other
benefits to which he is otherwise entitled, (iii) he has been and is hereby advised in writing to consult with an attorney prior
to signing this Agreement, (iv) he does not waive rights or claims that may arise after the date this Agreement is executed, (v)
at no time prior to or contemporaneous with his execution of this Agreement has he filed or caused or knowingly permitted the filing
or maintenance, in any state, federal, or foreign court, or before any local, state, federal, or foreign administrative agency
or other tribunal, any charge, claim, or action of any kind, nature, and character whatsoever (a “Claim”), known
or unknown, suspected or unsuspected, which he may now have or has ever had against the Company Entities which is based in whole
or in part on any matter referred to in this Section 3; and, subject to the Company’s performance under this Agreement, to
the maximum extent permitted by law, the Executive is prohibited from filing or maintaining, or causing or knowingly permitting
the filing or maintaining, of any such Claim in any such forum, (vi) he hereby grants the Company his perpetual and irrevocable
power of attorney with full right, power, and authority to take all actions necessary to dismiss or discharge any Claim and (vii)
he will not encourage any person or entity, including, without limitation, any current or former employee, officer, director, or
stockholder of the Company, to institute any Claim against the Company Entities or any of them, and that except as expressly permitted
by law or administrative policy or as required by legally enforceable order or subpoena he will not aid or assist any such person
or entity in prosecuting such Claim. Notwithstanding the above, the Executive further 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
to participate in an administrative investigation or proceeding; provided, however, that he disclaims and waives any right to share
or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding.

 

    	3

    	 

    

 

4.          Restrictive
Covenants. The Executive acknowledges and agrees the terms of the Intellectual Property and Confidentiality Agreement, by and
between Executive and GSE Lining Technology, Inc., or any of its divisions, subsidiaries or affiliates (together, “GSE”),
dated August 22, 2011 (“Confidentiality Agreement”) are hereby incorporated herein by reference and made a part
hereof as if fully set forth herein and those sections shall survive Executive’s termination of employment and/or service
to the extent provided therein. Executive agrees to comply with all obligations under the Confidentiality Agreement as if Executive
were an employee of the Company or GSE through the end of the Service Period. Notwithstanding the foregoing, the Company and/or
GSE shall have no further obligations to Executive under the Confidentiality Agreement following the Effective Date.

 

5.          Continued
Employee Services.

 

(a)          Employee
Services. Following the Effective Date until the earlier of (x) two (2) months after the Company’s appointment of a new
Chief Financial Officer, or (y) December 31, 2012 (such earlier date, the “Service Termination Date” and such
period, the “Service Period”), the Executive shall continue to provide services in the capacity as an employee
of the Company. For purposes of this Agreement, the services shall mean (i) Executive shall devote all of the Executive’s
business time, energy, business judgment, knowledge and skill and the Executive’s best efforts to the continuing performance
of Executive’s duties, responsibilities and functions associated with being the Executive Vice President and Chief Financial
Officer of the Company, (ii) assisting, as requested, the Company Group to transition the Executive’s former duties and responsibilities
to a new Chief Financial Officer or to other employees, (iii) assisting, as requested, the Company with respect to litigation
involving the Company Group, arbitration, or regulatory or administrative matters, and (iv) performing such other duties reasonably
requested by the Company. The Executive shall make himself available to devote up to 40 hours of service per week during the Service
Period prior to the Service Termination Date. All reasonable business and travel expense incurred during the Service Period by
the employee will be reimbursed by the Company according to the Company’s travel policies.

 

(b)          Compensation.
Subject to Executive’s compliance with the terms and conditions of this Agreement, during the Service Period, the Company
shall pay the Executive an annualized base salary $280,000, payable in accordance with the regular payroll practices of the Company.
Further, the Executive shall be paid all accrued but unpaid vacation and sick leave not later than thirty (30) days following the
Service Termination Date. Payment of the accrued sick leave and vacation shall not be subject to the Executive’s execution
of any supplemental release.

 

(c)          2012
Bonus. Subject to Executive’s compliance with the terms and conditions of this Agreement, Executive remains eligible
to receive a management bonus at plan equal to 40% of Base Salary (up to 60% of Base Salary) for Executive’s services to
the Company for the 2012 calendar year (the “2012 Bonus”) that will be earned in accordance with successful
achievement of Company and personal goals pursuant to the terms of the Company’s existing management bonus plan, which shall
be payable at the time bonuses are payable to other senior executives of the Company.

 

    	4

    	 

    

 

(d)          Benefits.
Subject to Executive’s compliance with the terms and conditions of this Agreement, during the Service Period, the Executive
shall, in accordance with the terms of the applicable plan documents, be eligible to participate in the Company’s standard
employee health and welfare and ERISA retirement benefit plan or arrangement which may be in effect from time to time and made
available to the Company’s executive or key management employees. Except as provided herein, following the Service Termination
Date, Executive shall be entitled for health care continuation coverage under the Consolidated Omnibus Budget Reconciliation Act
of 1985 for Executive and his dependants at Executive’s own cost.

 

6.          Post-Employment
Consultant Services.

 

(a)          Consulting
Services. Following the Service Termination Date and until December 31, 2013 (such date, the “Consulting Termination
Date” and such period, the “Consulting Period”), the Executive shall continue to provide services
in the capacity as a consultant of the Company. For purposes of this Agreement, the services shall mean (i) assisting, as
requested, the Company Group to transition the Executive’s former duties and responsibilities to a new Chief Financial Officer
or to other employees, (ii) assisting, as requested, the Company with respect to litigation involving the Company Group, arbitration,
or regulatory or administrative matters and (iii) performing such other duties reasonably requested by the Chief Executive
Officer or Chief Financial Officer of the Company. The Executive shall make himself available to provide services during the Consulting
Period. The Executive may perform the services at such times and in such manner as reasonably requested by the Company from time
to time; provided that, to the extent that the Company does not require the Executive to perform the services from a specific location,
the Executive may perform the services at a location of the Executive’s choice so long as the Executive is available to report
by telephone or in person as reasonably requested by the Company. All reasonable business and travel expense incurred during the
Consulting Period by the employee will be reimbursed by the Company according to the Company’s travel policies.

 

(b)          Compensation.
Subject to Executive’s compliance with the terms and conditions of this Agreement, during the Consulting Period, the Company
shall pay the Executive an annualized consulting fee of $280,000, payable in equal semi-monthly installments.

 

(c)          Benefits.
Subject to Executive’s compliance with the terms and conditions of this Agreement, during the Consulting Period, the Executive
shall, in accordance with the terms of the applicable plan documents, be eligible to participate in the Company’s standard
employee health and welfare and ERISA retirement benefit plan or arrangement which may be in effect from time to time and made
available to the Company’s executive or key management employees. Following the Consulting Termination Date, Executive shall
be entitled for health care continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 for Executive
and his dependants at Executive’s own cost.

 

(d)          Supplemental
Release. As a condition to receiving the amounts and benefits in Sections 6(b) and 6(c) hereof during the Consulting Period,
the Executive shall also sign and deliver to the Company a supplemental release of claims (the “Supplemental Release”)
in the form attached hereto as Exhibit A, within twenty-one (21) days after the Service Termination Date and not revoke the
same within the time period provided therein. If the Executive does not sign the Supplemental Releases or if the Executive revokes
it, the Executive shall not be entitled to such amounts and benefits specified in Sections 6(b) and 6(c) hereof.

 

    	5

    	 

    

 

7.          No
Assignments; Binding Effect. Except as provided in this Section 7, no party may assign or delegate any rights or obligations
hereunder without first obtaining the written consent of the other party hereto. The Company may assign this Agreement to any successor
to all or substantially all of the operations and/or assets of the Company. As used in this Agreement, the term “Company”
shall mean the Company and any successor to its operations and/or assets, which assumes and agrees to perform the duties and obligations
of the Company under this Agreement by operation of law or otherwise. This Agreement is binding upon, and shall inure to the benefit
of, the parties and their respective heirs, executors and administrators (including the Executive’s estate, in the event
of the Executive’s death), and their respective permitted successors and assigns.

 

8.          Governing
Law; Waiver of Jury Trial. This Agreement shall be construed and enforced in accordance with the laws of the State of Texas
without regard to the choice of law principles thereof. Each of the parties agrees that any dispute between the parties shall be
resolved only in the courts of the State of Texas for the United States District Court for the Southern District
of Texas and in the appellate courts having jurisdiction of appeals in such courts. In that context, and without limiting
the generality of the foregoing, each of the parties hereto irrevocably and unconditionally (a) submits in any proceeding relating
to this Agreement or the Executive’s employment by or service with the Company Group, or for the recognition and enforcement
of any judgment in respect thereof (a “Proceeding”), to the exclusive jurisdiction of the courts of the State
of Texas, the United States District Court for the Southern District of Texas, and appellate courts having jurisdiction of appeals
from any of the foregoing, and agrees that all claims in respect of any such Proceeding shall be heard and determined in such Texas
State court or, to the extent permitted by law, in such federal court, (b) consents that any such Proceeding may and shall be brought
in such courts and waives any objection that the Executive or the Company may now or thereafter have to the venue or jurisdiction
of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or
claim the same, (c) waives all right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising
out of or relating to this Agreement or the Executive’s employment by or service with the Company Group, or the Executive’s
or the Company’s performance under, or the enforcement of, this Agreement, (d) agrees that service of process in any
such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar
form of mail), postage prepaid, to such party at the Executive’s or the Company’s address for notices, as set forth
in Section 11 hereof, and (e) agrees that nothing in this Agreement shall affect the right to effect service of process in any
other manner permitted by applicable law.

 

9.          Entire
Agreement. The Executive understands that this Agreement constitutes the complete understanding between the Company and the
Executive, and, except as specifically provided herein, supersedes any and all agreements, understandings, and discussions, whether
written or oral, between the Executive and any of the Company Group, including, without limitation, except as otherwise provided
herein, (a) the Employment Offer Letter, by and between Executive and GSE Lining Technology, LLC, dated August 4, 2011, (b) the
Sale Bonus Letter, by and between the Executive and GEO Holding Corp., dated August 4, 2011, as amended December 2, 2011, and (c)
the Change in Control Agreement, by and between Executive and GSE Lining Technology, LLC, dated August 4, 2011. No other promises
or agreements shall be binding unless in writing and signed by both the Company and the Executive after the Effective Date of this
Agreement. Notwithstanding the foregoing, the Confidentiality Agreement and the Indemnification Agreement shall continue in full
force and effect in accordance with their terms.

 

    	6

    	 

    

 

10.         Equity.
All unvested Company stock options and restricted stock held by Executive shall be fully vested and exercisable as of the Service
Termination Date and treated in accordance with its terms, with the Service Termination Date being treated as the date of a termination
without cause.

 

11.         Notices.
All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when personally delivered, sent by telecopy (with receipt confirmed) on a
business day during regular business hours of the recipient (or, if not, on the next succeeding business day) or one business day
after sent by reputable overnight express courier (charges prepaid). Such notices, demands and other communications shall be addressed
to the Executive at his last known address on the books of the Company or, in the case of the Company, to it at its principal place
of business, attention Mark C. Arnold, Chief Executive Officer, or to such other address as either party may specify by notice
to the other actually received.

 

12.         Miscellaneous.
This Agreement is not intended, and shall not be construed, as an admission that any of the Company Entities has violated any federal,
state or local law (statutory or decisional), ordinance or regulation, breached any contract or committed any wrong whatsoever
against the Executive. Should any provision of this Agreement require interpretation or construction, it is agreed by the parties
that the entity interpreting or constructing this Agreement shall not apply a presumption against one party by reason of the rule
of construction that a document is to be construed more strictly against the party who prepared the document. No waiver by either
party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at
any prior or subsequent time. Neither party shall be deemed to have made any admission of wrongdoing as a result of executing this
Agreement.

 

13.         Tax
Matters. The Company may withhold from any and all amounts payable to the Executive under this Agreement such federal, state,
local or foreign taxes as may be required to be withheld pursuant to any applicable law or regulation.

 

14.         Executive
Acknowledgements. The Executive acknowledges that the Executive: (a) has carefully read this Agreement in its entirety; (b)
has had an opportunity to consider this Agreement for twenty-one (21) days and any changes made since Executive’s receipt
of this Agreement are not material or were made at Executive’s request and will not restart the required 21-day period; (c)
fully understands the significance of all of the terms and conditions of this Agreement and has discussed them with the Executive’s
independent legal counsel, or has had a reasonable opportunity to do so; and (d) has had answered to the Executive’s satisfaction
by the Executive’s independent legal counsel all questions that the Executive has asked with regard to the meaning and significance
of any of the provisions of this Agreement.

 

    	7

    	 

    

 

15.         Time
to Consider; Effectiveness. The Executive understands that the Executive will have twenty-one (21) days from the date of receipt
of this Agreement to consider the terms and conditions of this Agreement. The Executive understands that the Executive may execute
this Agreement less than twenty-one (21) days from its receipt from the Company, but agrees that such execution will represent
the Executive’s knowing waiver of such consideration period. The Executive may accept this Agreement by signing it and returning
it to the Human Resources department within such twenty-one (21) day period. After executing this Agreement, the Executive shall
have seven (7) days (the “Revocation Period”) to revoke this Agreement by indicating the Executive’s desire
to do so in writing delivered to the Human Resources department by no later than 5:00 p.m. on the seventh (7th) day after the date
that the Executive signs this Agreement. This Agreement shall be effective on the eighth (8th) day after the Executive signs this
Agreement. If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period
will be deemed to be the next business day. In the event that the Executive does not accept this Agreement as set forth above,
or in the event that the Executive revokes this Agreement during the Revocation Period, this Agreement, including, but not limited
to, the obligation of the Company to provide the payments and other benefits referred to herein, shall be deemed automatically
null and void.

 

16.         Third
Party Beneficiaries. The Company Entities are intended third-party beneficiaries of this Agreement, and this Agreement may
be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Company Parties hereunder.
Except and to the extent set forth in the preceding sentence, this Agreement is not intended for the benefit of any person other
than the parties hereto, and no such other person or entity shall be deemed to be a third party-beneficiary hereof. Without limiting
the generality of the foregoing, it is not the intention of the Company to establish any policy, procedure, course of dealing,
or plan of general application for the benefit of or otherwise in respect of any other employee, officer, director, or stockholder,
irrespective of any similarity between any contract, agreement, commitment, or understanding between the Company and such other
employee, officer, director, or stockholder, on the one hand, and any contract, agreement, commitment, or understanding between
the Company and the Executive, on the other hand, and irrespective of any similarity in facts or circumstances involving such other
employee, officer, director, or stockholder, on the one hand, and the Executive, on the other hand.

 

17.         Legal
Fees. The Company agrees to reimburse Executive upon receipt of the bill of expenses for Executive's legal fees incurred in
connection with the review and negotiation of this Agreement, not to exceed $2,500.

 

18.         Counterpart
Agreements. This Agreement may be signed in counterparts and by facsimile or e-mail transmission, all of which shall be considered
as original documents and which together shall constitute one and the same agreement.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	8

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date set forth below.

 

	GSE HOLDING INC. AND ITS SUBSIDIARIES	 	 
	 	 	 
	By: 	/s/ Mark C. Arnold		Dated: September 27, 2012 
	 	 	 
	Name:  Mark C. Arnold, President & CEO	 	 
	 	 	 
	EXECUTIVE	 	 
	 	 	 
	/s/ William F. Lacey		Dated: September 27, 2012 
	William F. Lacey	 	 

 

    	9

    	 

    

 

EXHIBIT A

 

[Supplemental Release]

 

    	A-1

    	 

    

 

SUPPLEMENTAL RELEASE

 

I, William F. Lacey, in consideration of
and subject to the performance by GSE Holding, Inc., (together with its parent companies and subsidiaries, the “Company”),
of its obligations under Sections 6(b) and 6(c) of the Consulting and Transition Agreement, dated ________, 2012 (the “Agreement”),
do hereby release and forever discharge as of the date hereof the Company and its respective affiliates and subsidiaries and all
present, former and future directors, officers, agents, representatives, employees, successors and assigns of the Company and/or
its respective affiliates and subsidiaries and direct or indirect owners (collectively, the “Released Parties”)
to the extent provided herein (this “Supplemental Release”). The Released Parties are intended third-party beneficiaries
of this Supplemental Release, and this Supplemental Release may be enforced by each of them in accordance with the terms hereof
in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the
meanings given to them in the Agreement.

 

1.          I
understand that, other than any accrued benefits, the payments or benefits paid or granted to me under Sections 6(b) and 6(c)
of the Agreement represent, in part, consideration for signing this Supplemental Release and are not salary, wages or benefits
to which I was already entitled. I understand and agree that I will not receive the payments and benefits specified in Sections 6(b)
and 6(c) of the Agreement, unless I execute this Supplemental Release and do not revoke this Supplemental Release within the time
period permitted hereafter or breach this Supplemental Release. Such payments and benefits will not be considered compensation
for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or
its affiliates.

 

2.          Except
as provided in paragraph 4 below and except for the provisions of the Agreement which expressly survive the termination of my employment
with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever
discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action,
cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages,
claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present
(through the date that this Supplemental Release becomes effective and enforceable) and whether known or unknown, suspected, or
claimed against the Company and/or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators
or assigns, ever had, now have, or hereafter may have, by reason of any matter, cause, or thing whatsoever, from the beginning
of my initial dealings with the Company to the date of this Supplemental Release, and particularly, but without limitation of the
foregoing general terms, any claims arising from or relating in any way to my employment relationship with Company, the terms and
conditions of that employment relationship, and the termination of that employment relationship (including, but not limited to,
any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act
of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the
Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker
Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order
Programs; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil
or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract
or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful
discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including
attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”).
I understand and intend that this Supplemental Release constitutes a general release of all claims and that no reference herein
to a specific form of claim, statute or type of relief is intended to limit the scope of this Supplemental Release.

 

    	A-1

    	 

    

 

3.          I
represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by paragraph
2 above.

 

4.          I
agree that this Supplemental Release does not waive or release any rights or claims that I may have under the Age Discrimination
in Employment Act of 1967 which arise after the date I execute this Supplemental Release. I acknowledge and agree that my separation
from employment with the Company 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). In addition, nothing in this
Agreement shall be a waiver of: (x) claims that may arise after the date on which the Executive signs this Supplemental Release,
(including the right to enforce the terms of the Agreement or this Supplemental Release,) (y) any insurance and/or indemnity rights
the Executive may be entitled to by law or under the by-laws or charter of any member of the Company Group and any rights Executive
may be entitled to pursuant to the Indemnification Agreement, dated December 14, 2011, by and between Executive and the Company
(the "Indemnification Agreement"), which agreement shall continue in full force and effect notwithstanding any
provision of this Agreement to the contrary, and (z) claims that cannot be waived under law.

 

5.          I
agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of
any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief, except
for (x) claims that may arise after the date on which the Executive signs this Supplemental Release, (including the right to enforce
the terms of the Agreement or this Supplemental Release,) and (y) any rights under the Indemnification Agreement. Notwithstanding
the foregoing, I acknowledge that I am not waiving and am 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 I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such
charge or investigation or proceeding.

 

    	A-2

    	 

    

 

6.          In
signing this Supplemental Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims
hereinabove mentioned or implied. I expressly consent that this Supplemental Release shall be given full force and effect according
to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding
any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated
Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this
waiver is an essential and material term of this Supplemental Release and that without such waiver the Company would not have agreed
to the terms of the Agreement. I further agree that in the event that I should bring a Claim seeking damages against the Company,
or in the event that I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this
Supplemental Release shall serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that
I am not aware of any pending claim, or of any facts that could give rise to a claim, of the type described in paragraph 2 as of
the execution of this Supplemental Release.

 

7.          I
agree that neither this Supplemental Release, nor the furnishing of the consideration for this Supplemental Release, shall be deemed
or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct.

 

8.          I
agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge the validity of this Supplement
Release. I also agree that if I violate this Supplemental Release by suing the Company or the other Released Parties, I will pay
all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees,
and return all payments received by me pursuant to the Agreement on or after the termination of my employment.

 

9.          I
agree that this Supplemental Release and the Agreement are confidential and agree not to disclose any information regarding the
terms of this Supplemental Release or the Agreement, except to my immediate family and any tax, legal or other counsel that I have
consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose
the same to anyone.

 

10.         Any
non-disclosure provision in this Supplemental Release does not prohibit or restrict me (or my attorney) from responding to any
inquiry about this Supplemental Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC),
the Financial Industry Regulatory Authority (FINRA), or any other self-regulatory organization or governmental entity.

 

11.         I
hereby acknowledge that Section 4 of the Agreement shall survive my execution of this Supplemental Release.

 

12.         I
represent that I am not aware of any Claim by me, and I acknowledge that I may hereafter discover Claims or facts in addition to
or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph
2 above and which, if known or suspected at the time of entering into this Supplemental Release, may have materially affected this
Supplemental Release and my decision to enter into it.

 

    	A-3

    	 

    

 

13.         Notwithstanding
anything in this Supplemental Release to the contrary, this Supplemental Release shall not relinquish, diminish, or in any way
affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof.

 

14.         Whenever
possible, each provision of this Supplemental Release shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Supplemental 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 Supplemental Release shall be reformed, construed and enforced in such jurisdiction as if such
invalid, illegal or unenforceable provision had never been contained herein. This Supplemental Release constitutes the complete
and entire agreement and understanding among the parties, and supersedes any and all prior or contemporaneous agreements, commitments,
understandings or arrangements, whether written or oral, between or among any of the parties, in each case concerning the subject
matter hereof.

 

    	A-4

    	 

    

 

BY SIGNING THIS SUPPLEMENTAL RELEASE, I
REPRESENT AND AGREE THAT:

 

		1.	I HAVE READ IT CAREFULLY;

 

		2.	I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM 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.	I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

 

		4.	I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE
EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION;

 

		5.	I HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT
OF THIS RELEASE TO CONSIDER IT AND THE CHANGES MADE SINCE MY RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST
AND WILL NOT RESTART THE REQUIRED 21-DAY PERIOD;

 

		6.	I UNDERSTAND THAT I HAVE 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;

 

		7.	I HAVE SIGNED THIS SUPPLEMENTAL RELEASE KNOWINGLY AND
VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

 

		8.	I AGREE THAT THE PROVISIONS OF THIS SUPPLEMENTAL 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 ME.

 

	SIGNED:	 	 	DATE:	 

 

    	A-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]