Document:

EXHIBIT 10.1

 

SEACHANGE INTERNATIONAL, INC.

 

2011 COMPENSATION AND INCENTIVE PLAN

 

(As Amended through February 8, 2013)

 

		1.	Purpose and Eligibility.

 

The purpose of this 2011 Compensation and Incentive Plan (the
“Plan”) of SeaChange International, Inc. is to provide equity ownership and compensation opportunities in the
Company (each an “Award”) to employees, officers, directors, consultants and advisors of the Company and its
Subsidiaries, all of whom are eligible to receive Awards under the Plan. Any person to whom an Award has been granted under the
Plan is called a “Participant”. Additional definitions are contained in Section 12.

 

		2.	Administration.

 

a.           Administration
by Committee of Independent Members of the Board of Directors. The Plan will be administered by a committee (the “Committee”)
composed solely of members of the Board of Directors of the Company that are “independent”, as defined pursuant to
applicable rules and regulations; provided, however, that at any time and on any one or more occasions the Board may itself
exercise any of the powers and responsibilities assigned the Committee under the Plan and when so acting shall have the benefit
of all of the provisions of the Plan pertaining to the Committee’s exercise of its authorities hereunder. The Committee,
in its sole discretion, shall have the authority to grant and amend Awards, to adopt, amend and repeal rules relating to the Plan
and to interpret and correct the provisions of the Plan and any Award. All decisions by the Committee shall be final and binding
on all interested persons. Neither the Company nor any member of the Committee shall be liable for any action or determination
relating to the Plan.

 

b.           Delegation
to Executive Officers. To the extent permitted by applicable law, the Committee may delegate to one or more executive officers
of the Company the power to grant Awards and exercise such other powers under the Plan as the Committee may determine; provided,
however, that the Committee shall fix the maximum number and type of Awards to be granted and the maximum number of shares
issuable to any one Participant pursuant to Awards granted by such executive officer or officers. The Committee may, by a resolution
adopted by the Committee, authorize one or more officers of the Company to do one or both of the following: (i) designate employees
of the Company or of any of its Subsidiaries to be recipients of Awards created by the Company and (ii) determine the number, type
and terms of such Awards to be received by such employees; provided, however, that the resolution so authorizing such officer
or officers shall specify the maximum number and type of Awards such officer or officers may so award. The Committee may not authorize
an officer to designate himself or herself as a recipient of any such Awards and the Committee may not authorize an officer to
grant Awards to other executive officers of the Company.

 

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		3.	Stock Available for Awards.

 

a.           Number
of Shares. Subject to adjustment under Section 3(c), the aggregate number of shares (the “Authorized Shares”)
of the Company’s common stock, $0.01 par value per share (the “Common Stock”), that may be issued pursuant
to the Plan shall be (i) 2,800,000 shares of Common Stock, plus (ii) the number
of shares of Common Stock that would have become available for issuance under the Company’s Amended and Restated 2005 Equity
Compensation and Incentive Plan (the “2005 Plan”) following the adoption of this Plan due to the expiration,
termination, surrender or forfeiture of an award under the 2005 Plan. If any Award granted
pursuant to this Plan expires, or is terminated, surrendered or forfeited, in whole or in part, the unissued Common Stock covered
by such Award shall again be available for the grant of Awards under the Plan. Notwithstanding the foregoing, in no event shall
the following shares of Common Stock be added to the foregoing plan limit: (i) shares of Common Stock tendered in payment of an
Option, whether granted pursuant to this Plan or the 2005 Plan; (ii) shares of Common Stock withheld by the Company to satisfy
any tax withholding obligation, whether pursuant to this Plan or the 2005 Plan; or (iii) shares of Common Stock that are repurchased
by the Company with proceeds of Options, whether granted pursuant to this Plan or the 2005 Plan. Shares issued under the Plan may
consist in whole or in part of authorized but unissued shares or treasury shares. 

 

b.           Per-Participant
Limit. Subject to adjustment under Section 3(c) and commencing with the fiscal year ended January 31, 2013, no Participant
may be granted Awards during any one fiscal year to acquire more than 1,250,000 shares of Common Stock. Notwithstanding the foregoing,
commencing with the fiscal year ended January 31, 2013 and subject to Sections 10(e) and 10(j), Awards granted to a Participant
shall be interpreted to limit the maximum number of shares of Common Stock issuable in one fiscal year to a Participant to 500,000
shares of Common Stock, with any such excess to be vested on the first day of the immediately subsequent fiscal year, subject to
the foregoing limitation.

 

c.           Adjustment
to Common Stock. In the event of any stock split, stock dividend, extraordinary cash dividend, recapitalization, reorganization,
merger, consolidation, combination, exchange of shares, liquidation, spin-off, split-up, or other similar change in capitalization
or event, (i) the number and class of securities available for Awards under the Plan and the per-Participant share limit, (ii)
the number and class of securities, vesting schedule and exercise price per share subject to each outstanding Option (as defined
below), (iii) the repurchase price per security subject to repurchase, and (iv) the terms of each other outstanding stock-based
Award shall be adjusted by the Company (or substituted Awards may be made) to the extent the Committee shall determine, in good
faith, that such an adjustment (or substitution) is appropriate. If Section 10(e)(i) applies for any event, this Section 3(c) shall
not be applicable.

 

d.           Fractional
Shares. No fractional shares shall be issued under the Plan and the Participant shall receive from the Company cash in lieu
of such fractional shares.

 

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		4.	Stock Options.

 

a.           General.
The Committee may grant options to purchase Common Stock (each, an “Option”) and determine the number of shares
of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to
the exercise of each Option and the Common Stock issued upon the exercise of each Option, including vesting provisions, Performance
Goals (as defined in Section 9(b)), repurchase provisions and restrictions relating to applicable federal or state securities laws,
as it considers advisable.

 

b.           Incentive
Stock Options. An Option that the Committee intends to be an “incentive stock option” as defined in Section 422
of the Code (an “Incentive Stock Option”) shall be granted only to employees of the Company and shall be subject
to and shall be construed consistently with the requirements of Section 422 of the Code. The Committee and the Company shall have
no liability if an Option or any part thereof that is intended to be an Incentive Stock Option does not qualify as such. An Option
or any part thereof that does not qualify as an Incentive Stock Option is referred to herein as a “Nonstatutory Stock
Option.” Subject to adjustment under Section 3(c), no more than 2,800,000 shares shall be available for issuance as Incentive
Stock Options under the Plan.

 

c.           Dollar
Limitation. For so long as the Code shall so provide, Options granted to any employee under the Plan (and any other plans of
the Company) which are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent
that such Options, in the aggregate, become exercisable for the first time in any one calendar year for shares of Common Stock
with an aggregate Fair Market Value (as defined below) of more than $100,000 (determined as of the respective date or dates of
grant) or such other limit as may be imposed by Section 422 of the Code or other applicable regulation.
To the extent that any such Incentive Stock Options exceed the $100,000 limitation or such other limitation,
such Options shall be Nonstatutory Stock Options. 

 

d.           Exercise
Price. The Committee shall establish the exercise price (or determine the method by which the exercise price shall be determined)
at the time each Option is granted and specify the exercise price in the applicable option agreement, provided, that the
exercise price per share specified in the agreement relating to each Option granted under the Plan shall not be less than the Fair
Market Value per share of Common Stock on the date of such grant. In the case of an Incentive Stock Option to be granted to an
employee owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the
Company, the price per share specified in the agreement relating to such Incentive Stock Option shall not be less than one hundred
ten percent (110%) of the Fair Market Value per share of Common Stock on the date of grant. For purposes of determining stock ownership
under this subsection, the rules of Section 424(d) of the Code shall apply.

 

e.           Duration
of Options. Each Option shall be exercisable at such times and subject to such terms and conditions as the Committee may specify
in the applicable option agreement; provided, that no Option shall be exercisable for a period of time greater than ten
(10) years from the date of grant of such Option; provided, further, that Incentive Stock Options granted to an employee
owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company shall
be exercisable for a maximum of five (5) years from the date of grant of such option. For purposes of determining stock ownership
under this subsection, the rules of Section 424(d) of the Code shall apply.

 

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f.            Vesting
of Options. At the time of the grant of an Option, the Committee shall establish a vesting date or vesting dates with
respect to the shares of Common Stock covered by such Options; provided, that all Options (other than Awards granted pursuant
to Section 10(k), and subject to Sections 10(e) and 10(j)) shall have a minimum vesting period of no less than six (6) months.
The Committee may establish vesting dates based upon the passage of time and/or the satisfaction of Performance Goals or other
conditions as deemed appropriate by the Committee.

 

g.           Exercise
of Option. Options may be exercised only by delivery to the Company at its principal office address or to such transfer agent
as the Company shall designate of a written notice of exercise specifying the number of shares as to which such Option is being
exercised, signed by the proper person, or by notification of the Company-designated third party commercial provider (the “Third
Party Commercial Provider”), in accordance with the procedures approved by the Company and to which the holder of the
Option shall have ongoing access by means of accessing such person’s account maintained with the Third Party Commercial Provider,
together with payment in full as specified in Section 4(h) for the number of shares for which the Option is exercised.

 

h.           Payment
Upon Exercise. Common Stock purchased upon the exercise of an Option shall be paid for by one or any combination of the following
forms of payment:

 

		(i)	in United States dollars in cash or by check or by fund transfer from the Option holder’s account maintained with the
Third Party Commercial Provider;

 

		(ii)	at the discretion of the Committee, through delivery of shares of Common Stock having a Fair Market Value equal as of the date
of the exercise to the cash exercise price of the Option;

 

		(iii)	at the discretion of the Committee and consistent with applicable law, through the delivery of an assignment to the Company
of a sufficient amount of the proceeds from the sale of the Common Stock acquired upon exercise of the Option and an authorization
to the Third Party Commercial Provider to pay that amount to the Company, which sale shall be at the Participant’s direction
at the time of exercise;

 

		(iv)	at the discretion of the Committee, by any combination of (i), (ii), or (iii) above.

 

If the Committee exercises its discretion to permit payment
of the exercise price of an Incentive Stock Option by means of the methods set forth in clauses (ii), (iii) or (iv) of the preceding
sentence, such discretion shall be exercised in writing at the time of the grant of the Incentive Stock Option in question.

 

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i.            Notice
to Company of Disqualifying Disposition. By accepting an Incentive Stock Option granted under the Plan, each optionee agrees
to notify the Company in writing immediately after such optionee makes a disqualifying disposition of any stock acquired pursuant
to the exercise of Incentive Stock Options granted under the Plan. A “disqualifying disposition” is generally any disposition
occurring on or before the later of (a) the date two years following the date the Incentive Stock Option was granted or (b) the
date one year following the date the Incentive Stock Option was exercised.

 

j.            Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of the Company, each Option will terminate immediately
prior to the consummation of such proposed action or at such other time and subject to such other conditions as shall be determined
by the Committee.

 

k.          Issuances
of Securities. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to,
the number or price of shares subject to Options. No adjustments shall be made for dividends paid in cash or in property other
than securities of the Company.

 

		5.	Restricted Stock.

 

a.           Grants.
The Committee may grant Awards entitling recipients to acquire shares of Common Stock, subject to (i) delivery to the Company by
the Participant of a check in an amount at least equal to the par value of the shares purchased, and (ii) the right of the Company
to repurchase all or part of such shares at their issue price or other stated or formula price from the Participant in the event
that conditions specified by the Committee in the applicable Award are not satisfied prior to the end of the applicable restriction
period or periods established by the Committee for such Award (each, a “Restricted Stock Award”).

 

b.           Terms
and Conditions. A Participant that is the holder of a Restricted Stock Award, whether vested or unvested, shall be entitled
to enjoy all stockholder rights with respect to the shares of Common Stock underlying such Restricted Stock Award, including the
right to receive dividends and vote such shares. Subject to Section 5(c) hereof, the Committee shall determine all other terms
and conditions of any such Restricted Stock Award, including without limitation whether the shares of Common Stock underlying
a Restricted Stock Award are represented by a stock certificate or are registered in electronic or book entry form without the
issuance of a stock certificate. Any stock certificates issued in respect of a Restricted Stock Award
shall be registered in the name of the Participant and, unless otherwise determined by the Committee, deposited by the Participant,
together with a stock power endorsed in blank, with the Company (or its designee). After the expiration of the applicable restriction
periods, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant
or, if the Participant has died, to the beneficiary designated by the Participant, in a manner determined by the Committee, to
receive amounts due or exercise rights of the Participant in the event of the Participant’s death (the “Designated
Beneficiary”). In the absence of an effective designation by a Participant, Designated Beneficiary shall mean the Participant’s
estate.

 

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c.           Vesting
of Restricted Stock. At the time of the grant of a Restricted Stock Award, the Committee shall establish a vesting date
or vesting dates with respect to the shares of Common Stock covered by such Restricted Stock Award; provided, that all Restricted
Stock Awards (other than Awards granted pursuant to Section 10(k), and subject to Sections 10(e) and 10(j)), shall have a minimum
vesting period of no less than one (1) year for Restricted Stock Awards granted subject to Performance Goals and no less than three
(3) years for all other Restricted Stock Awards. The Committee may establish vesting dates based upon the passage of time and/or
the satisfaction of Performance Goals or other conditions as deemed appropriate by the Committee.

 

		6.	Restricted Stock Unit.

 

a.           Grants.
The Committee may grant Awards entitling recipients to acquire shares of Common Stock in the future, with the future delivery of
the Common Stock subject to a risk of forfeiture or other restrictions that will lapse upon the satisfaction of one or more specified
conditions (each, a “Restricted Stock Unit”).

 

b.           Terms
and Conditions. Subject to Section 6(c) hereof, the Committee shall determine the terms and conditions of any such Restricted
Stock Unit. A Participant may not vote the shares represented by a Restricted Stock Unit and does not give the Participant a right
to receive any dividends (whether paid in cash, stock or property) declared and paid by the Company with respect to shares of Common
Stock subject to a Restricted Stock Unit Award.

 

c.           Vesting
of Restricted Stock Unit. At the time of the grant of a Restricted Stock Unit Award, the Committee shall establish a
vesting date or vesting dates with respect to the shares of Common Stock covered by such Restricted Stock Unit Award; provided,
that all Restricted Stock Unit Awards (other than Awards granted pursuant to Section 10(k), and subject to Sections 10(e) and 10(j)),
shall have a minimum vesting period of no less than one (1) year for Restricted Stock Unit Awards granted subject to Performance
Goals and no less than three (3) years for all other Restricted Stock Unit Awards. The Committee may establish vesting dates based
upon the passage of time and/or the satisfaction of Performance Goals or other conditions as deemed appropriate by the Committee.

 

		7.	Other Stock-Based Awards.

 

The Committee
shall have the right to grant other Awards based upon the Common Stock having such terms and conditions as the Committee may determine,
including, without limitation, the grant of shares based upon certain conditions and/or Performance Goals, the grant of securities
convertible into Common Stock and the grant of stock units. The Committee shall determine the terms and conditions of any such
Awards; provided, that all Awards granted pursuant to this Section 7 (other than Awards granted pursuant to Section
10(k), and subject to Sections 10(e) and 10(j)) shall have a minimum vesting period of no less than
six (6) months; provided, further, that all Awards granted pursuant to this Section 7 that are Full Value Awards (other
than Awards granted pursuant to Section 10(k), and subject to Sections 10(e) and 10(j)) shall
have a minimum vesting period of no less than one (1) year for Awards granted subject to Performance Goals and no less than three
(3) years for all other Awards.

 

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		8.	Cash Awards.

 

a.          Grants. The Committee may
grant cash awards (each, a “Cash Award”), either alone, in addition to, or in tandem with other Awards granted
under the Plan.

 

b.           Terms
and Conditions. The Committee shall determine the terms and conditions of any such Cash Award. From time to time, the Committee
shall establish administrative rules and procedures governing the administration of Cash Awards; provided, no Participant
may be granted a Cash Award hereunder that would result in a payment of more than $2 million during any one fiscal year of the
Company.

 

		9.	Performance-Based Awards.

 

a.           General.
Subject to the terms of the Plan, the Committee shall have the authority to establish and administer performance-based grant, exercise,
and/or vesting conditions and Performance Goals (as defined in Section 9(b) below) with respect to such Awards as it considers
appropriate, which Performance Goals must be satisfied, as determined by the Committee, before the Participant receives or retains
an Award or before the Award becomes exercisable or nonforfeitable, as the case may be. Where such Awards are granted to any person
who is a “covered employee” within the meaning of Section 162(m) of the Code (“Section 162(m)”),
the Committee (which in such case shall consist solely of those Committee members that are “outside directors” as defined
by Section 162(m)) may designate the Awards as subject to the requirements of Section 162(m), in which case the provisions of the
Awards are intended to conform with all provisions of Section 162(m) to the extent necessary to allow the Company to claim a Federal
income tax deduction for the Awards as “qualified performance based compensation.” However, the Committee retains the
sole discretion to grant Awards that do not so qualify and to determine the terms and conditions of such Awards including any performance-based
vesting conditions that shall apply to such Awards. Prior to the occurrence of an Acquisition, the Committee may exercise its discretion
in a uniform and non-discriminatory manner for similarly-situated Participants to reduce (but not increase) any Award otherwise
payable under this Plan in accordance with objective or subjective factors if necessary or appropriate to limit the amount payable
under an Award to an amount consistent with the purposes of the Plan and the intended economic benefits of participation in the
Plan. No Award subject to Section 162(m) shall be paid or vest, as applicable, unless and until the date that the Committee has
certified, in the manner prescribed by Section 162(m), the extent to which the Performance Goals for the Performance Period (as
defined in Section 9(b) below) have been attained and has made its decisions regarding the extent, if any, of a reduction of such
Award. The Committee’s determination will be final and conclusive.

 

b.           Performance
Goals. Performance goals (the “Performance Goals”) will be based exclusively on one or more of the following
business criteria determined with respect to the Company and its Subsidiaries on a group-wide basis or on the basis of Subsidiary,
business platform, or operating unit results, in each case on a GAAP or non-GAAP basis: (i) earnings per share (on a fully diluted
or other basis), (ii) pretax or after tax net income, (iii) operating income, (iv) gross or net revenue, (v) profit margin, (vi)
stock price targets or stock price maintenance, (vii) working capital, (viii) free cash flow, (ix) cash flow, (x) return on equity,
(xi) return on capital or return on invested capital, (xii) earnings before interest, taxes, depreciation, and amortization (EBITDA),
(xiii) economic value added, (xiv) strategic business criteria, consisting of one or more objectives based on meeting specified
revenue, market penetration, geographic business expansion goals, cost targets, or objective goals relating to acquisitions or
divestitures, or (xv) any combination of these measures.

 

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Each Performance Goal may be expressed in
absolute and/or relative terms or ratios and may be based on or use comparisons with internal targets, the past performance of
the Company (including the performance of one or more Subsidiaries, divisions, platforms, operating units and/or other business
unit) and/or the past or current performance of other companies. In the case of earnings-based measures, Performance Goals may
use comparisons relating to capital (including, but not limited to, the cost of capital), cash flow, free cash flow, shareholders’
equity and/or shares outstanding, or to assets or net assets.

 

The Committee shall determine the period for
which Performance Goals are set and during which performance is to be measured to determine whether a Participant is entitled to
payment of an Award under the Plan (the “Performance Period”). Performance Periods may be of varying and overlapping
durations, but each such period shall not be less than 12 months. To the extent that an Award is intended to constitute “qualified
performance based compensation” within the meaning of Section 162(m), the Performance Goals must be established within 90
days of the beginning of the Performance Period.

 

The Committee may specify in an Award that
Performance Goals shall be adjusted to include or exclude the effect of special one-time or extraordinary gains or losses and other
one-time or extraordinary events, including without limitation changes in accounting principles, extraordinary, unusual, or nonrecurring
items (such as material litigation, judgments and settlements), currency exchange rate fluctuations, changes in corporate tax rates,
and the impact of acquisitions, divestitures, and discontinued operations.

 

		10.	General Provisions Applicable to Awards.

 

a.           Transferability
of Awards. Except as the Committee may otherwise determine or provide in an Award, Awards shall not be sold, assigned, transferred,
pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will
or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable only by the Participant,
provided, however, that Nonstatutory Stock Options may be transferred pursuant to a qualified domestic relations order (as
defined in the Code) or to a grantor-retained annuity trust or a similar estate-planning vehicle in which the trust is bound by
all provisions of the Option which are applicable to the Participant. References to a Participant, to the extent relevant in the
context, shall include references to authorized transferees.

 

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b.           Documentation.
Each Award granted under the Plan, with the exception of Cash Awards, shall be evidenced by a written Award agreement in such form
as the Committee shall from time to time approve. Award agreements shall comply with the terms and conditions of the Plan and may
contain such other provisions not inconsistent with the terms and conditions of the Plan as the Committee shall deem advisable.
In the case of an Incentive Stock Option, the Award agreement shall contain, or refer to, such provisions relating to exercise
and other matters as are required of “incentive stock options” under the Code. Award agreements may be evidenced by
an electronic transmission (including an e-mail or reference to a website or other URL) sent to the Participant through the Company’s
normal process for communicating electronically with its employees. As a condition to receiving an Award, the Committee may require
the proposed Participant to affirmatively accept the Award and agree to the terms and conditions set forth in the Award agreement
by physically and/or electronically executing the Award agreement or by otherwise physically and/or electronically acknowledging
such acceptance and agreement. With or without such affirmative acceptance, however, the Committee may prescribe conditions (including
the exercise or attempted exercise of any benefit conferred by the Award) under which the proposed Participant may be deemed to
have accepted the Award and agreed to the terms and conditions set forth in the Award agreement.

 

c.           Committee
Discretion. The terms of each type of Award need not be identical, and the Committee need not treat Participants uniformly.

 

d.           Termination
of Status. The Committee shall determine the effect on an Award of the disability, death, retirement, authorized leave of absence
or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant,
or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may exercise rights under the
Award, subject to applicable law and the provisions of the Code related to Incentive Stock Options.

 

e.           Acquisition
of the Company.

 

(i)          Consequences
of an Acquisition. If the Company is to be consolidated with or acquired by another entity in a merger, tender offer or other
reorganization or transaction in which the holders of the outstanding voting stock of the Company immediately preceding the consummation
of such event, shall, immediately following such event, hold, as a group, less than a majority of the voting securities of the
surviving or successor entity, or in the event of a sale of all or substantially all of the Company’s assets or otherwise
(each, an “Acquisition”), the Committee or the board of directors of any entity assuming the obligations of
the Company hereunder (the “Successor Committee”), shall, as to outstanding Awards, either (i) make appropriate
provision for the continuation of such Awards by substituting on an equitable basis for the shares then subject to such Awards
either (a) the consideration payable with respect to the outstanding shares of Common Stock in connection with the Acquisition,
(b) shares of stock of the surviving or successor corporation or (c) such other securities as the Successor Committee deems appropriate,
the Fair Market Value of which shall not exceed the Fair Market Value of the shares of Common Stock subject to such Awards immediately
preceding the Acquisition and in each case subject to applicable tax withholding; (ii) upon written notice to the Participants,
provide that all Awards must be exercised, to the extent then exercisable or to be exercisable as a result of the Acquisition,
within a specified number of days of the date of such notice, at the end of which period the Awards shall terminate; (iii) terminate
all Awards in exchange for a cash payment equal to the excess of the Fair Market Value of the shares subject to such Awards (to
the extent then exercisable or to be exercisable as a result of the Acquisition) over the exercise price thereof, if any, subject
to applicable tax withholding; (iv) if applicable, in the event the exercise price of an Award exceeds the Fair Market Value
of the shares subject to such Award, terminate such Award without any consideration; or (v) in the case of Awards that may be settled
in whole or in part in cash, provide for equitable treatment of such Awards.

 

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(ii)         Assumption
of Awards Upon Certain Events. In connection with a merger or consolidation of an entity with the Company or the acquisition
by the Company of property or stock of an entity, the Committee may grant Awards under the Plan in substitution for stock and stock-based
awards issued by such entity or an affiliate thereof. The substitute Awards shall be granted on such terms and conditions as the
Committee considers appropriate in the circumstances. 

 

f.            Withholding.
Each Participant shall pay to the Company, or make provisions satisfactory to the Company for payment of, any taxes required by
law to be withheld in connection with Awards to such Participant no later than the date of the event creating the tax liability.
The Committee may allow Participants to satisfy such tax obligations in whole or in part by transferring shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at their Fair Market Value. The Company may, to the
extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to a Participant.

 

g.           Amendment
of Awards. The Committee may amend, modify or terminate any outstanding Award including, but not limited to, substituting therefor
another Award of the same or a different type, changing the date of vesting or realization, modifying the exercise price, converting
an Incentive Stock Option to a Nonstatutory Stock Option, and amending or modifying an Award such that it ceases to constitute
“qualified performance based compensation” for purposes of Section 162(m); provided that, except as otherwise
provided in Section 10(e)(i) or in the last sentence of this Section 10(g), the Participant’s consent to such action shall
be required unless the Committee determines in its sole discretion that the action, taking into account any related action, would
not materially and adversely affect the Participant. Notwithstanding the foregoing, other than as provided for in Section 3(c),
without prior approval by the Company’s stockholders (a) no Option or other stock-based Award that is not a Full Value Award
may be amended to reduce the price at which it is exercisable; (b) no Option or other stock-based Award that is not a Full Value
Award may be canceled in exchange for an Option or other stock-based Award that is not a Full Value Award with an exercise price
that is less than the exercise price of the original Option or stock-based Award that is not a Full Value Award; (c) no Option
or stock-based Full Value Award with an exercise price above the then current Fair Market Value may be canceled in exchange for
cash or other securities; and (d) no Option or stock-based Award that is not a Full Value Award may be amended to extend the period
of time for which such previously-issued Award shall be exercisable beyond the expiration date of such Award.

 

h.           Forfeiture.
Notwithstanding any provision herein to the contrary, Awards and shares of Common Stock (and proceeds therefrom) obtained pursuant
to or on exercise of such Awards hereunder are subject to forfeiture, setoff, recoupment or other recovery if the Committee determines
in good faith that such action is required by applicable law or Company policy.

 

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i.            Conditions
on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to
the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with
the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock
exchange or stock market rules and regulations, (iii) the Participant has executed and delivered to the Company such representations
or agreements as the Company may consider appropriate to satisfy the requirements of the Plan and any applicable laws, rules or
regulations, and (iv) the Participant has paid to the Company, or made provisions satisfactory to the Company for payment of, any
taxes required by law to be withheld in connection with the Award.

 

j.          Acceleration.
The Committee may at any time subsequent to the grant of an Award provide that any Options shall become immediately exercisable
in full or in part, that Awards that may be settled in whole or in part in cash may become exercisable in full or in part, that
any Restricted Stock Awards shall be free of some or all restrictions, or that any other stock-based Awards may become exercisable
in full or in part or free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may
be, despite the fact that the foregoing actions may (i) cause the application of Sections 280G and 4999, (ii) disqualify all or
part of the Option as an Incentive Stock Option, or (iii) cause an Award to cease to constitute “qualified performance based
compensation” for purposes of Section 162(m). In the event of the acceleration of the exercisability of one or more outstanding
Options, including pursuant to Section 10(e)(i), the Committee may provide, as a condition of full exercisability of any or all
such Options, that the Common Stock or other substituted consideration, including cash, as to which exercisability has been accelerated
shall be restricted and subject to forfeiture back to the Company at the option of the Company at the cost thereof upon termination
of employment or other relationship, with the timing and other terms of the vesting of such restricted stock or other consideration
being equivalent to the timing and other terms of the superseded exercise schedule of the related Option.

 

k.          Exception
to Minimum Vesting Periods. The Committee may grant up to ten percent (10%) of the maximum aggregate shares of Common Stock
authorized for issuance hereunder in the form of Options, Restricted Stock, Restricted Stock Units and other Awards based on Common
Stock that do not comply with the minimum vesting periods set forth in Sections 4(f), 5(c), 6(c) and 7.

 

l.          Compliance
with Code Section 409A. It is the intention of the Company that this Plan and each Award comply with and be interpreted in
accordance with Section 409A of the Code, the United States Department of Treasury regulations, and other guidance issued thereunder,
including any applicable exemptions (collectively, “Section 409A”). Each payment in any series of payments provided
to a Participant pursuant to this Plan or an Award will be deemed a separate payment for purposes of Section 409A. If any amount
payable under this Plan or an Award is determined by the Company to constitute nonqualified deferred compensation for purposes
of Section 409A (after taking into account applicable exemptions) and such amount is payable upon a termination of employment, then
such amount shall not be paid unless and until the Participant's termination of employment also constitutes a “separation
from service” from the Company for purposes of Section 409A. In the event that the Participant is determined by the Company
to be a “specified employee” for purposes of Section 409A at the time of his separation from service with the Company,
then any nonqualified deferred compensation (after giving effect to any exemptions available under Section 409A) otherwise
payable to the Participant as a result of the Participant's separation from service during the first six (6) months following
his separation from service shall be delayed and paid in a lump sum upon the earlier of (x) the Participant’s date of death,
or (y) the first day of the seventh month following the Participant’s separation from service, and the balance of the installments
(if any) will be payable in accordance with their original schedule.

 

    	11

    	 

    

 

		11.	Foreign Jurisdictions.

 

To the extent that the Committee determines
that the material terms set by the Committee or imposed by the Plan preclude the achievement of the material purposes of the Plan
in jurisdictions outside the United States, the Committee will have the authority and discretion to modify those terms and provide
for such additional terms and conditions as the Committee determines to be necessary, appropriate or desirable to accommodate differences
in local law, policy or custom or to facilitate administration of the Plan. The Committee may adopt or approve sub-plans, appendices
or supplements to, or amendments, restatements or alternative versions of, the Plan as it may consider necessary, appropriate or
desirable, without thereby affecting the terms of the Plan as in effect for any other purpose. The special terms and any appendices,
supplements, amendments, restatements or alternative versions, however, shall not include any provisions that are inconsistent
with the terms of the Plan as then in effect, unless the Plan could have been amended to eliminate such inconsistency without further
approval by the stockholders. The Committee shall also have the authority and discretion to delegate the foregoing powers to appropriate
officers of the Company.

 

		12.	Miscellaneous.

 

		a.	Definitions.

 

(i)          
“Company” for purposes of eligibility under the Plan, shall include any present or future subsidiary corporations
of SeaChange International, Inc., as defined in Section 424(f) of the Code (a “Subsidiary”), and any present
or future parent corporation of SeaChange International, Inc., as defined in Section 424(e) of the Code. For purposes of Awards
other than Incentive Stock Options, the term “Company” shall also include any other business venture in which
the Company has a direct or indirect significant interest, as determined by the Committee in its sole discretion.

 

(ii)          
“Code” means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.

 

(iii)          
“employee” for purposes of eligibility under the Plan shall include a person to whom an offer of employment
has been extended by the Company and who has actually commenced employment with the Company, whether full or part-time status;
provided, however, that for purposes of Section 4(b) such person must be an employee of the Company as defined under
Section 422 of the Code.

 

    	12

    	 

    

 

(iv)         “Fair
Market Value” of the Company’s Common Stock on any date means (i) the last reported sale price (on that date) of
the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then
traded on a national securities exchange; or (ii) the average of the closing bid and asked prices last quoted (on that date) by
an established quotation service for over-the-counter securities, if the Common Stock is not then traded on a national securities
exchange; or (iii) if the Common Stock is not publicly traded, the fair market value of the Common Stock as determined by the Committee
after taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices
of the Common Stock in private transactions negotiated at arm’s length); provided, that, in all events the Fair Market
Value shall represent the Committee’s good faith determination of the fair market value of the Common Stock. The Committee’s
determination shall be conclusive as to the Fair Market Value of the Common Stock.

 

(v)          “Full
Value Awards” means Restricted Stock, Restricted Stock Units and Awards other than (a) Options or (b) Cash Awards or
(c) other stock-based Awards for which the Participant pays the intrinsic value (whether directly or by forgoing a right to receive
a cash payment from the Company).

 

b.           No
Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The
Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from
any liability or claim under the Plan.

 

c.           No
Rights As Stockholder. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have
any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming
the record holder thereof.

 

d.           Effective
Date and Term of Plan. The Plan shall become effective on the date on which it is approved by the stockholders of the Company
(the “Effective Date”). No Awards shall be granted under the Plan after the completion of ten years from the
Effective Date, but Awards previously granted may extend beyond that date.

 

e.           Amendment
of Plan. The Committee may amend this Plan at any time, provided that any material amendment to the Plan will not be effective
unless approved by the Company’s stockholders. For this purpose, a material amendment is any amendment that would (i) other
than pursuant to Section 3(c), materially increase either the number of shares of Common Stock available under the Plan, or the
maximum number of shares of Common Stock issuable in one fiscal year to a Participant; (ii) expand the class of persons eligible
to receive Awards or otherwise participate in the Plan; (iii) amend Section 10(g); (iv) amend Section 10(k); (v) subject to Sections
10(e) and 10(j), amend the minimum vesting provisions of Awards contained in Sections 4(f), 5(c), 6(c) or 7 of the Plan; or (vi)
require stockholder approval pursuant to the requirements of Nasdaq or any exchange on which the Company is then listed or applicable
law.

 

    	13

    	 

    

 

g.           Governing
Law. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws
of The Commonwealth of Massachusetts, exclusive of reference to rules and principles of conflicts of law.

 

	 	Adopted by the Board of Directors on
	 	May 31, 2011
	 	 
	 	Amended by the Board of Directors on
	 	February 8, 2013
	 	 
	 	Approved by the stockholders on July
	 	20, 2011

 

    	14EXHIBIT 10.13

 

CHANGE-IN-CONTROL SEVERANCE AGREEMENT

 

THIS AGREEMENT, dated as of February 26,
2013, by and between SeaChange International, Inc., with its principal place of business at 50 Nagog Park, Acton, MA 01720 (the
"Company"), and David McEvoy (the "Executive").

 

WHEREAS, the Company considers it essential
to the best interests of its stockholders to foster the continuous employment of key management personnel, and recognizes that,
as is the case with many publicly held corporations, the possibility of a change in control may exist and that such possibility,
and the uncertainty and questions which it may raise among management, may result in the distraction or departure of management
personnel to the detriment of the Company and its stockholders; and

 

WHEREAS, the Board of Directors of the Company
has determined that appropriate steps should be taken to reinforce and encourage the Executive's continued attention and dedication
to the Executive's assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility
of a change in control of the Company, although no such change is presently known to be contemplated.

 

NOW THEREFORE, in consideration of the mutual
covenants and agreements hereinafter contained and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

 

Section 1

DEFINITIONS

 

Except as may otherwise be specified or
as the context may otherwise require, the following terms shall have the respective meanings set forth below whenever used herein:

 

"Annual Bonus" shall mean the
full-target annual bonus, if any, for which the Executive is eligible for the fiscal year in which a Covered Termination occurs.

 

"Base Salary" shall mean the annual
base rate of regular compensation of the Executive immediately before a Covered Termination, or if greater, the highest annual
such rate at any time during the 12-month period immediately preceding the Covered Termination.

 

"Board" shall mean the Board of
Directors of the Company.

 

"Cause" shall mean (i) the Executive's
engaging in willful and repeated gross negligence or gross misconduct, (ii) the Executive's breaching of a material fiduciary duty
to the Employer, or (iii) the Executive's being convicted of a felony, in either case, to the demonstrable and material injury
to the Employer. For purposes hereof, no act, or failure to act, on the Executive's part, shall be deemed "willful" unless
done, or omitted to be done, by the Executive not in good faith and without reasonable belief that any act or omission was in the
best interest of the Employer.

 

    	 

    	 

    

 

"Change in Control" shall mean
the first to occur, after the date hereof, of any of the following:

 

(i)          the
members of the Board at the beginning of any consecutive 12-calendar-month period (the “Incumbent Directors”) cease
for any reason other than due to death to constitute at least a majority of the members of the Board; provided that any director
whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of
the members of the Board then still in office who were members of the Board at the beginning of such 12-calendar-month period,
shall be deemed to be an Incumbent Director;

 

(ii) any consolidation or merger
of the Company where the stockholders of the Company, immediately prior to the consolidation or merger, would not, immediately
after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Securities Exchange Act),
directly or indirectly, shares of Stock representing in the aggregate 50% or more of the combined voting power of the securities
of the corporation issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any);

 

(iii) there shall occur (A) any
sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as
a single plan) of all or substantially all of the assets of the Company, other than a sale or disposition by the Company of all
or substantially all of the Company's assets to an entity, at least 50% of the combined voting power of the voting securities of
which are owned by Persons in substantially the same proportion as their ownership of the Company immediately prior to such sale
or (B) the approval by stockholders of the Company of any plan or proposal for the liquidation or dissolution of the Company; or

 

(iv) Any corporation or other
legal person, pursuant to a tender offer, exchange offer, purchase of stock (whether in a market transaction or otherwise) or other
transaction or event acquires securities representing 40% or more of the combined voting power of the voting securities of the
Company, or there is a report filed on Schedule 13D or Schedule 14D-1 (or any successor schedule, form or report), each
as promulgated pursuant to the U.S. Securities Exchange Act, disclosing that any "person" (as such term is used in Section 13(d)(3)
or Section 14(d)(2) of the Securities Exchange Act) has become the "beneficial owner" (as such term is used in Rule 13d-3
under the Securities Exchange Act) of securities representing 40% or more of the combined voting power of the voting securities
of the Company.

 

Notwithstanding the foregoing, none of the
foregoing event(s) shall constitute a Change in Control unless such event(s) constitute a “change in the ownership or effective
control” or a change “in the ownership of a substantial portion of the assets,” in each case within the meaning
of Section 409A(a)(2)(A)(v) of the Code and any regulations and other guidance in effect from time-to-time thereunder including,
without limitation, Notice 2005-1.

 

Upon the occurrence of a Change in Control as provided above,
no subsequent event or condition shall constitute a Change in Control for purposes of this Agreement, with the result that there
can be no more than one Change in Control hereunder.

 

    	- 2 -

    	 

    

 

"Code" shall mean the Internal
Revenue Code of 1986, as amended.

 

"Company" shall mean, subject
to Section 4.1(a), SeaChange International, Inc., a Delaware corporation.

 

"Covered Termination" shall mean
if, within the one-year period immediately following a Change in Control, the Executive (i) is terminated by the Employer without
Cause (other than on account of death or Disability), or (ii) terminates the Executive's employment with the Employer for Good
Reason. The Executive shall not be deemed to have terminated for purposes of this Agreement merely because he or she ceases to
be employed by the Employer and becomes employed by a new employer involved in the Change in Control; provided that such new employer
shall be bound by this Agreement as if it were the Employer hereunder with respect to the Executive. It is expressly understood
that no Covered Termination shall be deemed to have occurred merely because, upon the occurrence of a Change in Control, the Executive
ceases to be employed by the Employer and does not become employed by a successor to the Employer after the Change in Control if
the successor makes an offer to employ the Executive on terms and conditions which, if imposed by the Employer, would not give
the Executive a basis on which to terminate employment for Good Reason.

 

"Date of Termination" shall mean
the date on which a Covered Termination occurs.

 

"Disability" shall mean the occurrence
after a Change in Control of the incapacity of the Executive due to physical or mental illness, whereby the Executive shall have
been absent from the full-time performance of the Executive's duties with the Employer for six consecutive months or, in any one
year period, for an aggregate of six months.

 

"Employer" shall mean the Company
(if and for so long as the Executive is employed thereby) and each Subsidiary which may now or hereafter employ the Executive or,
where the context so requires, the Company and such Subsidiaries collectively. A subsidiary which ceases to be, directly or indirectly,
through one or more intermediaries, controlling, controlled by or under common control with the Company prior to a Change in Control
(other than in connection with and as an integral part of a series of transactions resulting in a Change in Control) shall, automatically
and without any further action, cease to be (or be part of) the Employer for purposes hereof.

 

"Good Reason" shall mean, without
the express written consent of the Executive, the occurrence after a Change in Control of any of the following circumstances, unless
such circumstances are fully corrected prior to the Date of Termination specified in the Notice of Termination given in respect
thereof:

 

(i) the material reduction of
the Executive's title, or the reduction of the Executive's authority, duties or responsibilities, or the assignment to the Executive
of any duties inconsistent with Executive's position, authority, duties or responsibilities from those in effect immediately prior
to the Change in Control;

 

(ii) a reduction in the Executive's
Base Salary as in effect immediately before the Change in Control;

 

    	- 3 -

    	 

    

 

(iii) a material reduction in
the Executive's aggregate compensation opportunity, comprised only of the Executive's (A) Base Salary, and (B) bonus opportunity
(taking into account, without limitation, any target, minimum and maximum amounts payable and the attainability and otherwise the
reasonableness of any performance hurdles, goals and other measures), if any;

 

(iv) the Company's requiring the
Executive to be based at any office or location more than 75 miles from that location at which the Executive performed Executive's
services immediately prior to the occurrence of a Change in Control, except for travel reasonably required in the performance of
the Executive's responsibilities;

 

(v) the failure of the Company
to obtain a reasonable agreement from any successor to assume and agree to perform this Agreement, as contemplated in Section 4.1(a);

 

(vi) the failure of the Company
to pay the Executive any amounts due hereunder; or

 

(vii) any other material breach
by the Company of this Agreement.

 

"Notice of Termination" shall
mean a notice given by the Employer or Executive, as applicable, which shall indicate the date of termination and the specific
termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive's employment under the provisions so indicated.

 

"Person" shall have the meaning
ascribed thereto by Section 3(a)(9) of the Securities Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof (except
that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or any of its Subsidiaries, (iii) an underwriter temporarily holding securities pursuant
to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportion as their ownership of stock of the Company, or (v) such Executive or any "group" (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act) which includes the Executive).

 

"Securities Exchange Act" shall
mean the Securities Exchange Act of 1934, as amended.

 

"Stock" shall mean the common
stock, $.01 par value, of the Company

 

"Subsidiary" shall mean any entity,
directly or indirectly, through one or more intermediaries, controlled by the Company.

 

    	- 4 -

    	 

    

 

Section 2

BENEFITS

 

2.1           If
a Change in Control occurs, then:

 

(a) (i) any and all outstanding unvested stock
options and stock appreciation rights held by the Executive shall immediately prior to the Change in Control automatically vest
and become immediately exercisable in accordance with their terms, and (ii) notwithstanding anything to the contrary contained
in clause (i), upon a termination of employment (regardless of the party initiating the termination, for any reason or no reason),
all stock options and stock appreciation rights held by the Executive shall be exercisable for the lesser of (A) the remainder
of the generally applicable term of the stock options or stock appreciation rights, which is measured from the date of grant thereof,
and (B) three years from the date of such termination; provided that nothing in this Section 2.1(a) shall reduce or otherwise adversely
affect the rights under such stock options and stock appreciation rights that the Executive would have without regard to this Section
2.1(a); and

 

(b) any and all restricted stock and restricted
stock rights then held by the Executive shall immediately prior to the Change in Control fully vest and become immediately transferable
free of restrictions, other than restrictions imposed by applicable law.

 

2.2           If
a Covered Termination occurs, then (subject to the provisions of Section 2.3(b)) the Executive shall be entitled hereunder
to the following:

 

(a) the Company shall pay a pro-rated Annual
Bonus to the Executive for the year in which the termination occurs, based on the number of days elapsed in the fiscal year as
of the termination date;

 

(b) the Company shall pay to the Executive
an amount equal to the sum of twelve (12) months of (i) the Executive's Base Salary and (ii) the Executive's Annual Bonus;

 

(c) for a period of one (1) year after
such termination, the Employer shall arrange to make available to the Executive medical, dental, group life that are at least at
a level (and cost to the Executive) that is substantially similar in the aggregate to the level of such benefits which was available
to the Executive immediately prior to the Change in Control;

 

(d) the Employer shall provide the Executive
with outplacement service through a bona fide outplacement organization reasonably acceptable to the Executive that agrees to supply
the Executive with outplacement counseling, a private office and administrative support including telephone service until the earlier
of one year from the Date of Termination or until such time that Executive secures employment;

 

(e) the Company shall pay for the Executive
to receive financial planning services for which the Company pays not more than $5,000; and

 

(f) the Company shall provide the Executive
with a payment for any accrued but unused vacation.

 

2.3           (a)
The payments provided for in Section 2.2 shall (except as otherwise expressly provided therein or as provided in Section 2.3(b)
or Section 2.4(b), or as otherwise expressly provided hereunder) be made on the business day coinciding with or next following
the 30th day following the Date of Termination (the “Payment Date”).

 

    	- 5 -

    	 

    

 

Notwithstanding any other provision
of this Agreement, if the Executive is a “specified employee” as defined in Section 409A of the Code, any payment under
this Agreement that would constitute deferred compensation for purposes of Section 409A of the Code that is payable on account
of the Executive’s separation from service shall be made in accordance with Section 2.4(b) hereof.

 

(b) Notwithstanding any other provision
of this Agreement to the contrary, no payment or benefit otherwise provided for under or by virtue of the foregoing provisions
of this Agreement shall be paid or otherwise made available unless, on or before the Payment Date, the Executive has executed and
not revoked a valid, binding and irrevocable general release of claims in favor of the Employer, in form and substance reasonably
acceptable to the Employer. The failure by the Executive to timely deliver (and not revoke) a valid and binding release shall result
in the forfeiture of all payments and benefits under this Agreement.

 

2.4 The Company and the Executive acknowledge
and agree that the provisions for payments and benefits or reimbursements in Sections 2.2 and 3.1 of this Agreement (the “Deferred
Compensation”) may constitute a “nonqualified deferred compensation plan” that is subject to Section 409A. The
Company and the Executive intend to administer the Deferred Compensation in a manner that at all times is either exempt from or
complies in form and operation with the applicable limitations and standards of Section 409A. Therefore, notwithstanding anything
else contained herein, the following limitations are expressly imposed with respect to the Deferred Compensation.

 

(a) The Executive’s entitlement to receive
or begin receiving payment of the Deferred Compensation is conditioned upon the Executive’s separation from service. For
this purpose, the Executive shall have separated from service if and only if his level of services to the Company and its affiliates
decreases and is expected to remain at a level equal to twenty percent (20%) or less of the average level of services performed
by the Executive during the immediately preceding 36-month period.

 

(b) If the Executive is a “specified
employee” as defined in Section 409A with respect to the Company upon his separation from service, then any payment required
hereunder, to the extent such payment would constitute deferred compensation for purposes of Section 409A that is payable on account
of the Executive’s separation from service, shall be deferred and shall not be paid to the Executive until the date that
is the later of (1) the date such payment is due under the terms of this Agreement, or (2) 6 months and 1 day following the date
of the Executive’s separation from service.

 

(c) It is intended that each installment,
if any of the payments and benefits constituting Deferred Compensation shall be treated as a separate “payment” for
purposes of Section 409A. Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any
such payments or benefits except to the extent specifically permitted or required by Section 409A.

 

    	- 6 -

    	 

    

 

(d) All reimbursements and in-kind benefits
provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent
that such reimbursements or in-kind benefits are subject to Section 409A. All expenses or other reimbursements that are taxable
income to the Executive shall in no event be paid later than the last day of the second taxable year following the taxable year
in which the Executive separated from service. With regard to any provision herein for reimbursement of costs and expenses or in-kind
benefits, except as permitted by Section 409A, the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit, the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable
year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year, provided
that the foregoing clause shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b)
of the Internal Revenue Code solely because such expenses are subject to a limit related to the period the arrangement is in effect
and such payments shall be made on or before the last day of the Executive’s taxable year following the taxable year in which
the expense was incurred.

 

Section 3

PARACHUTE TAX PROVISIONS

 

3.1           If
all, or any portion, of the payments and benefits provided under this Agreement, if any, either alone or together with other payments
and benefits which the Executive receives or is entitled to receive from the Company or its affiliates, (the “Total Payments”)
would constitute an excess "parachute payment" within the meaning of Section 280G of the Code (whether or not under an
existing plan, arrangement or other agreement) and would result in the imposition on the Executive of an excise tax under Section
4999 of the Code (the “Excise Tax”), then the Executive shall be paid or provided, as the case may be, the Total Payments
unless the after-tax amount that would be retained by the Executive (after taking into account any and all applicable federal,
state and local excise, income or other taxes payable by the Executive, including the Excise Tax) is less than the after-tax amount
that would be retained by the Executive (after taking into account any and all applicable federal, state and local excise, income
or other taxes payable by the Executive, including the Excise Tax) if the Executive were instead to be paid or provided, as the
case may be, the maximum amount of the Total Payments that the Executive could receive without being subject to the Excise Tax
(the “Reduced Payments”), in which case the Executive shall be entitled only to the Reduced Payments.

 

3.2           Except
as may otherwise be agreed to by the Company and the Executive, the amount or amounts (if any) payable under this Section 3 shall
be determined, at the sole cost of the Company, by the Company's independent auditors (who served in such capacity immediately
prior to the Change in Control), whose determination or determinations shall be final and binding on all parties. The Executive
hereby agrees to utilize such determination or determinations, as applicable, in filing all of the Executive's tax returns with
respect to the excise tax imposed by Section 4999 of the Code. If such independent auditors refuse to make the required determinations,
then such determinations shall be made by a comparable independent accounting firm of national reputation reasonably selected by
the Company. Notwithstanding any other provision of this Agreement, the Executive hereby agrees to be bound by and comply with
the provisions of this Section 3.2.

 

    	- 7 -

    	 

    

 

Section 4

MISCELLANEOUS

 

4.1           (a)
The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Company expressly to assume and agree to perform under the terms of this Agreement
in the same manner and to the same extent that the Company and its affiliates would be required to perform it if no such succession
had taken place (provided that such a requirement to perform which arises by operation of law shall be deemed to satisfy the requirements
for such an express assumption and agreement), and in such event the Company (as constituted prior to such succession) shall have
no further obligation under or with respect to this Agreement. Failure of the Company to obtain such assumption and agreement with
respect to the Executive prior to the effectiveness of any such succession shall be a breach of the terms of this Agreement with
respect to the Executive and shall entitle the Executive to compensation from the Employer (as constituted prior to such succession)
in the same amount and on the same terms as the Executive would be entitled to hereunder were the Executive's employment terminated
for Good Reason following a Change in Control, except that for purposes of implementing the foregoing, the date on which any such
succession becomes effective shall be deemed the Date of Termination. As used in this Agreement, "Company" shall mean
the Company as hereinbefore defined and any successor to its business or assets as aforesaid which assumes and agrees (or is otherwise
required) to perform this Agreement. Nothing in this Section 4.1(a) shall be deemed to cause any event or condition which would
otherwise constitute a Change in Control not to constitute a Change in Control.

 

(b) Notwithstanding Section 4.1(a), the
Company shall remain liable to the Executive upon a Covered Termination after a Change in Control if the Executive is not offered
continuing employment by a successor to the Employer on a basis which would not constitute a termination for Good Reason.

 

(c) This Agreement, and the Executive's
and the Company's rights and obligations hereunder, may not be assigned by the Executive or, except as provided in Section 4.1(a),
the Company, respectively; any purported assignment by the Executive or the Company in violation hereof shall be null and void.

 

(d) The terms of this Agreement shall inure
to the benefit of and be enforceable by the personal or legal representatives, executors, administrators, permitted successors,
heirs, distributees, devisees and legatees of the Executive. If the Executive shall die while an amount would still be payable
to the Executive hereunder if they had continued to live, all such amounts, unless otherwise provided herein, shall be paid in
accordance with the terms of this Agreement to the Executive's devisee, legatee or other designee or, if there is no such designee,
the Executive's estate.

 

4.2           Except
as expressly provided in Section 2.2, the Executive shall not be required to mitigate damages or the amount of any payment or benefit
provided for under this Agreement by seeking other employment or otherwise, nor will any payments or benefits hereunder be subject
to offset in the event the Executive does mitigate.

 

    	- 8 -

    	 

    

 

4.3           The
Employer shall pay all reasonable legal fees and expenses incurred in a legal proceeding by the Executive in seeking to obtain
or enforce any right or benefit provided by this Agreement. Such payments are to be made within twenty days after the Executive's
request for payment accompanied with such evidence of fees and expenses incurred as the Employer reasonably may require; provided
that if the Executive institutes a proceeding and the judge or other decision-maker presiding over the proceeding affirmatively
finds that the Executive has failed to prevail substantially, the Executive shall pay Executive's own costs and expenses (and,
if applicable, return any amounts theretofore paid on the Executive's behalf under this Section 4.3).

 

4.4           For
the purposes of this Agreement, notice and all other communications provided for in this Agreement shall be in writing and shall
be deemed to have been duly given when hand delivered or mailed by United States certified or registered express mail, return receipt
requested, postage prepaid, if to the Executive, addressed to the Executive at his or her respective address on file with the Company;
if to the Company, addressed to SeaChange International, Inc., 50 Nagog Park, Acton, MA 01720, and directed to the attention of
its Chief Financial Officer; if to the Board, addressed to the Board of Directors, c/o 50 Nagog Park, Acton, MA 01720, and directed
to the Company's Chief Financial Officer; or to such other address as any party may have furnished to the others in writing in
accordance herewith, except that notice of change of address shall be effective only upon receipt.

 

4.5           Unless
otherwise determined by the Employer in an applicable plan or arrangement, no amounts payable hereunder upon a Covered Termination
shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit plan or other arrangement
of the Employer for the benefit of its employees.

 

4.6           This
Agreement is the exclusive arrangement with the Executive applicable to payments and benefits in connection with a change in control
of the Company (whether or not a Change in Control), and supersedes any prior arrangements involving the Company or its predecessors
or affiliates relating to changes in control (whether or not Changes in Control). This Agreement shall not limit any right of the
Executive to receive any payments or benefits under an employee benefit or executive compensation plan of the Employer, initially
adopted as of or after the date hereof, which are expressly contingent thereunder upon the occurrence of a change in control (including,
but not limited to, the acceleration of any rights or benefits thereunder); provided that in no event shall the Executive be entitled
to any payment or benefit under this Agreement which duplicates a payment or benefit received or receivable by the Executive under
any severance or similar plan or policy of the Employer, and in any such case the Executive shall only be entitled to receive the
greater of the two payments.

 

4.7           Any
payments hereunder shall be made out of the general assets of the Employer. The Executive shall have the status of general unsecured
creditor of the Employer, and this Agreement constitutes a mere promise by the Employer to make payments under this Agreement in
the future as and to the extent provided herein.

 

4.8           Nothing
in this Agreement shall confer on the Executive any right to continue in the employ of the Employer or interfere in any way (other
than by virtue of requiring payments or benefits as may expressly be provided herein) with the right of the Employer to terminate
the Executive's employment at any time.

 

4.9           The
Employer shall be entitled to withhold from any payments or deemed payments any amount of tax withholding required by law.

 

    	- 9 -

    	 

    

 

4.10         Any
controversy or claim arising out of or relating to this Agreement or the breach of this Agreement that is not resolved by the Employer
and the Executive shall be submitted to arbitration in Boston, Massachusetts, in accordance with Massachusetts law and the procedures
of the American Arbitration Association. The determination of the arbitrator(s) shall be conclusive and binding on the Employer
and Executive and judgment may be entered on the arbitrator(s)' award in any court having jurisdiction.

 

4.11         This
Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument
signed by the parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising
any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any
such right, power or privilege nor any single or partial exercise of any such right, power or privilege, preclude any other or
further exercise thereof or the exercise of any other such right, power or privilege.

 

4.12         The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement which shall remain in full force and effect.

 

4.13         The
use of captions in this Agreement is for convenience. The captions are not intended to and do not provide substantive rights.

 

4.14         THIS
AGREEMENT SHALL BE CONSTRUED, ADMINISTERED AND ENFORCED ACCORDING TO THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS WITHOUT REGARD
TO PRINCIPLES OF CONFLICTS OF LAW, EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL LAW.

 

IN WITNESS WHEREOF, the parties hereto
have signed their names, effective as of the date first above written.

 

	 	SEACHANGE INTERNATIONAL, INC.	 
	 	 	 	 
	 	By:	/s/ Raghu Rau	 
	 	Name:  Raghu Rau	 
	 	Title:  Chief Executive Officer	 
	 	 	 	 
	 	EXECUTIVE:	 
	 	 	 	 
	 	/s/ David McEvoy	 
	 	Name:  David McEvoy	 

 

    	- 10 -

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