Document:

monarchbayagreement.htm

PLACEMENT AGENT AND ADVISORY

SERVICES AGREEMENT

This Placement Agent and Advisory Services Agreement (this "Agreement") is made as of   June 13, 2011 (the “Effective Date”), by and between Voice Assist, Inc., a Nevada corporation (together with its subsidiaries, the "Company"), and Monarch Bay Associates, LLC, a California limited liability company ("MBA").  MBA and the Company agree as follows:

	
  

	
1.

	
Engagement of MBA:  The Company hereby engages MBA, and MBA hereby accepts such engagement, to act as the Company's placement agent, on a  non-exclusive basis, with respect to finding investors (the “Investors”) for the current offering of the Company’s securities (including placements of the Company’s debt), a copy of which is attached, in a transaction or transactions exempt from registration under the Securities Act of 1933, as amended, and in compliance with the applicable laws and regulations of any jurisdiction in which securities are sold under this Agreement (the “Financing”).

The Company acknowledges and agrees that MBA's obligations hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by MBA to purchase any securities and does not ensure the successful placement of any securities or any portion thereof or the success of MBA with respect to securing any other financing on behalf of the Company.  MBA will act solely as a broker with respect to identifying and negotiating with potential investors in a Financing. MBA will not act as an underwriter in any Financing.

	
2.

	
MBA's Compensation:  The Company hereby agrees to pay MBA fees in such amount and upon such terms and conditions contained herein upon the successful completion of the Financing as follows:

Cash Retainer.  The cash retainer is waived.

Success Fees.  The Company will pay MBA a Success Fee, as described below, when the Company closes on the Financing during the Term (as hereinafter defined) of this Agreement.

Computation and Payment of Success Fees.

For the Financing, the Success Fee will be (1) a cash fee equal to 7% of gross proceeds raised by MBA in the Financing (including, without limitation, upon exercise of any warrants issued in Financing) and (2) 7% of the securities issued by the Company to MBA Investors under and in connection with the Financing.

The cash portion of the Success Fee will be due and payable upon the closing of each Financing and will be payable directly to MBA from the escrow established for such closing or in such other manner as may be acceptable to MBA.

  

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3.  

	
Certain Matters Relating to MBA’s Duties:

	
(a)  

	
MBA shall (i) assist the Company in the preparation of   information documents to be shared with potential Investors (ii) identify and screen potential Investors, and (iii) perform other related duties.

	
(b)  

	
MBA shall perform its duties under this Agreement in a manner consistent with the instructions of the Company. Such performance shall include the delivery of information to potential interested parties, conducting due diligence, and leading discussions with potential Investors.

	
(c)  

	
MBA shall not engage in any form of general solicitation or advertising in performing its duties under this Agreement. This prohibition includes, but is not limited to, any mass mailing, any advertisement, article or notice published in any magazine, newspaper or newsletter and any seminar or meeting where the attendees have been invited by any mass mailing, general solicitation or advertising.

	
(d)  

	
MBA is and will hereafter act as an independent contractor and not as an employee of the Company and nothing in this Agreement shall be interpreted or construed to create any employment, partnership, joint venture, or other relationship between MBA and the Company. MBA will not hold itself out as having, and will not state to any person that MBA has, any relationship with the Company other than as an independent contractor. MBA shall have no right or power to find or create any liability or obligation for or in the name of the Company or to sign any documents on behalf of the Company.

	
4.  

	
Certain Matters Relating to Company’s Duties:

	
  

	
(a)

	
The Company shall promptly provide MBA with all relevant information about the Company (to the extent available to the Company in the case of parties other than the Company) that shall be reasonably requested or required by MBA, which information shall be complete and accurate in all material respects at the time furnished.

	
  

	
(b)

	
The Company recognizes that in order for MBA to perform properly its obligations in a professional manner, it is necessary that MBA be informed of and, to the extent practicable, participate in meetings and discussions between the Company and any third party, including, without limitation, any prospective purchaser of the Company’s securities, relating to the matters covered by the terms of MBA's engagement.

	
  

	
(c)

	
The Company agrees that any report or opinion, oral or written, delivered to it by MBA is prepared solely for its confidential use and shall not be reproduced, summarized, or referred to in any public document or given or otherwise divulged to any other person without MBA's prior written consent, except as may be required by applicable law or regulation.

  

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(d)

	
The Company represents and warrants that: (i) it has full right, power and authority  to enter into this Agreement and to perform all of its obligations hereunder; (ii) this Agreement has been duly authorized and executed by and constitutes a valid and binding agreement of the Company enforceable in accordance with its terms; and (iii) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby do not conflict with or result in a breach of the Company's certificate of incorporation or by-laws. Further, this Agreement and the transactions contemplated herein shall not conflict with or result in the breach of any agreement to which the Company is a party at the time the transactions contemplated herein are consummated.

 

	
5.  

	
Term; Termination of Agreement. The initial term of this Agreement shall be from the Effective Date through the first anniversary thereof or upon the closing of the Financing (the “Initial Term”).   Either party may terminate this Agreement prior to its expiration by notifying the other party in writing upon a material breach by that other party, unless such breach is curable and is in fact cured within fifteen (15) days after such notice.  Notwithstanding the foregoing, all provisions of this Agreement (including Exhibit A hereto) other than Sections 1, 3 and 4 (a) and (b) shall survive the termination or expiration of this Agreement.  MBA shall be entitled to compensation under Section 2 (and payment for expenses under Section 12) based on the completion of a Financing prior to the termination or expiration of this Agreement or during a three year period following termination so long as any Investors (or any affiliate of any such person or entity) were identified by the Company or introduced by MBA to the Company.  MBA will provide to the Company within ten business days after the expiration or termination of this Agreement a list of all persons or entities identified by the Company or introduced by MBA to the Company pursuant to this Agreement (the “Introduction List”).  Within five business day following the delivery of the Introduction List to the Company, the Company will provide MBA with written notice of any objections to the inclusion of any person or entity in the Introduction List and state the basis for each objection in reasonable detail.   The inclusion of a person or entity in the Introduction List shall be deemed conclusive in making a later determination as to whether a Success Fee is payable hereunder, unless the Company shall have made a timely and proper objection.  The parties will cooperate to resolve the status of any person or entity as to which the Company shall have made a timely and proper objection.

Except as otherwise specifically provided for herein, the Company shall have no liability to MBA should the Company terminate this Agreement prior to the completion of a Financing.

	
6.  

	
Indemnification.  The indemnification provisions set forth in Exhibit A hereto are incorporated by reference and are a part of this Agreement.

	
7.  

	
Notices. Any notice, consent, authorization or other communication to be given hereunder shall be in writing and shall be deemed duly given and received when delivered personally, when transmitted by fax during the normal business hours of the party receiving such notice so long a copy of that notice is also send by certified mail, return receipt requested at the time

  

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it is transmitted by fax,  five business  days after being mailed by certified mail, return receipt requested or one business day after being sent by a nationally recognized overnight delivery service, charges and postage prepaid, properly addressed to the party to receive such notice, at the following address or fax number for such party (or at such other address or fax number as shall hereafter be specified by such party by like notice):

	
(a)  

	
If to the Company, to:

Michael Metcalf

Chairman & CEO

Voice Assist, Inc.

2 South Pointe, Suite 100

Lake Forest, CA  92630

Telephone Number:  (949) 655-1611

Fax Number:  ( ____)___________

E-mail: michael@voiceassist.com

(b)           If to MBA, to:

Keith Moore, Principal

Monarch Bay Associates, LLC

30950 Rancho Viejo Rd #120

San Juan Capistrano, California 92675

Telephone Number:                                (949) 373-7281

Fax Number:                      (815) 301-8099

E-mail: keith@monarchbayassociates.com

	
8.  

	
Company to Control Financings.  The terms and conditions under which the Company would enter into a Financing shall be at the sole discretion of the Company.  Nothing in this Agreement shall obligate the Company to actually consummate a Financing.  The Company may terminate any negotiations or discussions at any time and reserves the right not to proceed with a Financing.

  

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9.  

	
Confidentiality of Company Information. MBA, and its officers, directors, employees and agents shall maintain in strict confidence and not copy, disclose or transfer to any other party (1) all confidential business and financial information regarding the Company and its affiliates, including without limitation, projections, business plans, marketing plans, product development plans, pricing, costs, customer, vendor and supplier lists and identification, channels of distribution, and terms of identification of proposed or actual contracts and (2) all confidential technology of the Company. In furtherance of the foregoing, MBA agrees that it shall not transfer, transmit, distribute, download or communicate, in any electronic, digitized or other form or media, any of the confidential technology of the Company. The foregoing is not intended to preclude MBA from utilizing, subject to the terms and conditions of this Agreement, the Financing or Offering Memorandum and/or other documents prepared or approved by the Company.  Further, the Company must approve the Financing or Offering Memorandum, being prepared by MBA, before it is mailed to prospective Investors.

All communications regarding any possible transactions, requests for due diligence or other information, requests for facility tours, product demonstrations or management meetings, will be submitted or directed to the Company, and MBA shall not contact any employees, customers, suppliers or contractors of the Company or its affiliates without express permission.  Nothing in this Agreement shall constitute a grant of authority to MBA or any representatives thereof to remove, examine or copy any particular document or types of information regarding the Company, and the Company shall retain control over the particular documents or items to be provided, examined or copied. If a Financing is not consummated, or if at any time the Company so requests, MBA and its representatives will return to the Company all copies of information regarding the Company in their possession.

The provisions of this Section shall survive any termination of this Agreement.

	
10.  

	
Press Releases, Etc.  The Company shall control all press releases or announcements to the public, the media or the industry regarding any Financing or business relationship involving the Company or its affiliates.  Except for communication to Investors in furtherance of this Agreement, MBA will not disclose the fact that discussions or negotiations are taking place concerning a possible Financing involving the Company, or the status or terms and conditions thereof.

	
11.  

	
Due Diligence: Neither the Company, nor any of its directors, officers or stockholders, should, in any way rely on MBA to perform any due diligence with respect to the Company.  It is expressly understood and agreed that the Investors and parties to any Financing will conduct their own due diligence on the Company and the opportunity.

	
12.  

	
Expenses, Etc.  The Company will reimburse MBA for all pre-approved (in writing) travel and other expenses.  Such expenses shall be reimbursed within thirty (30) days of submission of MBA’s invoice with appropriate support to the Company.  The Company will pay all other costs and expenses incident to the issuance, offer, sale and delivery of each Financing, including but are not limited to state “Blue Sky” fees, legal fees, printing costs, travel costs, mailing, couriers, and personal background checks.

  

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13.  

	
Compliance with Laws.  MBA represents and warrants that it shall conduct itself in compliance with applicable federal and state laws.  MBA represents that it is not a party to any other Agreement, which would conflict with or interfere with the terms and conditions of this Agreement.

	
14.  

	
Assignment Permissable.  MBA reserves the right to assign a portion of this Agreement to one or more sub-agents with respect to any Financing, subject to the prior written consent of the Company.  Any approved sub-agent shall be paid a portion of Success Fees as may be determined by MBA.    The Company does acknowledge that MBA may pay other consultants or agents in connection with the Financing(s).

	
15.  

	
Amendments.  Neither party may amend this Agreement or rescind any of its existing provisions without the prior written consent of the other party.

	
16.  

	
Governing Law; Dispute Resolution.  This Agreement shall be deemed to have been made in the State of California and shall be construed, and the rights and liabilities determined, in accordance with the law of the State of California, without regard to the conflicts of laws rules of such jurisdiction. Any controversy or claim relating to or arising from this Agreement (an "Arbitrable Dispute") shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the "AAA") as such rules may be modified herein or as otherwise agreed by the parties in controversy. The forum for arbitration shall be Orange County, California. Following thirty (30) days notice by any party of intention to invoke arbitration, any Arbitrable Dispute arising under this Agreement and not mutually resolved within such thirty (30) day period shall be determined by a single arbitrator upon which the parties agree.

	
17.  

	
Waiver.  Neither MBA’s nor the Company’s failure to insist at any time upon strict compliance with this Agreement or any of its terms nor any continued course of such conduct on their part shall constitute or be considered a waiver by MBA or the Company of any of their respective rights or privileges under this Agreement.

	
18.  

	
Severability. If any provision herein is or should become inconsistent with any present or future law, rule or regulation of any sovereign government or regulatory body having jurisdiction over the subject matter of this Agreement, such provision shall be deemed to be rescinded or modified in accordance with such law, rule or regulation.  In all other respects, this Agreement shall continue to remain in full force and effect.

	
19.  

	
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and will become effective and binding upon the parties at such time as all of the signatories hereto have signed a counterpart of this Agreement.  All counterparts so executed shall constitute one Agreement binding on all of the parties hereto, notwithstanding that all of the parties are not signatory to the same counterpart.  Each of the parties hereto shall sign a sufficient number of counterparts so that each party will receive a fully executed original of this Agreement.

  

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20.  

	
Entire Agreement.  This Agreement (together with Exhibit A hereto) constitutes the entire agreement between the Company and MBA. No other agreements, cove­nants, representations or warranties, express or implied, oral or written, have been made by any party hereto to any other party concerning the subject matter hereof.  All prior and contemporaneous conversations, negotiations, possible and alleged agreements, representations, covenants and warranties concerning the subject matter hereof are merged herein and shall be of no further force or effect.

Monarch Bay Associates, LLC (the “MBA”)

By:      /S/ Keith Moore                                                                

            Keith Moore

	
  

	
Title:

	
Principal

Voice Assist, Inc. (the “Company”)

By:       /S/ Michael Metcalf                                                              

         Michael Metcalf

Title:     Chairman & CEO

  

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EXHIBIT A

Indemnification

The Company agrees that it shall indemnify and hold harmless, MBA, its  members, managers, officers, employees, agents, affiliates and controlling persons within the meaning of Section 20 of the Securities Exchange Act of 1934 and Section 15 of the Securities Act of 1933, each as amended (any and all of whom are referred to as an "Indemnified Party"), from and against any and all losses, claims, damages, liabilities, or expenses, and all actions in respect thereof (including, but not limited to, all legal or other expenses reasonably incurred by an Indemnified Party in connection with the investigation, preparation, defense or settlement of any claim, action or proceeding, whether or not resulting in any liability), incurred by an Indemnified Party with respect to, caused by, or otherwise arising out of any transaction contemplated by this Agreement or MBA's performing the services contemplated hereunder; provided, however, the Company will not be liable to the extent, and only to the extent, that any loss, claim, damage, liability or expense is finally judicially determined to have resulted primarily from MBA's gross negligence or bad faith in performing such services.

If the indemnification provided for herein is conclusively determined (by an entry of final judgment by a court of competent jurisdiction and the expiration of the time or denial of the right to appeal) to be unavailable or insufficient to hold any Indemnified Party harmless in respect to any losses, claims, damages, liabilities or expenses referred to herein, then the Company shall contribute to the amounts paid or payable by such Indemnified Party in such proportion as is appropriate and equitable under all circumstances taking into account the relative benefits received by the Company on the one hand and MBA on the other, from the transaction or proposed transaction under the Agreement or, if allocation on that basis is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and MBA on the other, but also the relative fault of the Company and MBA; provided, however, in no event shall the aggregate contribution of MBA and/or any Indemnified Party be in excess of the net compensation actually received by MBA and/or such Indemnified Party pursuant to this Agreement.

              The Company shall not settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in which any Indemnified Party is or could be a party and as to which indemnification or contribution could have been sought by such Indemnified Party hereunder (whether or not such Indemnified Party is a party thereto), unless such consent or termination includes an express unconditional release of such Indemnified Party, reasonably satisfactory in form and substance to such Indemnified Party, from all losses, claims, damages, liabilities or expenses arising out of such action, claim, suit or proceeding.

              In the event any Indemnified Party shall incur any expenses covered by this Exhibit A, the Company shall reimburse the Indemnified Party for such covered expenses within ten (10) business days of the Indemnified Party's delivery to the Company of an invoice therefor, with receipts attached. Such obligation of the Company to so advance funds may be conditioned upon the Company's receipt of a written undertaking from the Indemnified Party to repay such amounts within ten (10) business days after a final, non-appealable judicial determination that such Indemnified Party was not entitled to indemnification hereunder.

              The foregoing indemnification and contribution provisions are not in lieu of, but in addition to, any rights which any Indemnified Party may have at common law hereunder or otherwise, and shall remain in full force and effect following the expiration or termination of MBA's engagement and shall be binding on any successors or assigns of the Company and successors or assigns to all or substantially all of the Company's business or assets.

Initials KM                                   Initials MM   

  

  

8EXTR 8K 050912 Ex10.1

RESIGNATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS

THIS RESIGNATION AGREEMENT AND GENERAL RELEASE OF CLAIMS (the “Agreement”) is entered into by and between Michael Seaton (“Executive”) and Extreme Networks, Inc. (the “Company”).  This Agreement will become effective on the eighth day after it is signed by Executive, provided that Executive has not revoked this Agreement (by email notice to dhonda@extremenetworks.com) prior to that date.

FACTUAL RECITALS

This Agreement is entered into with respect to the following facts: 

A.    Executive was previously employed by the Company as its Worldwide Vice President of Sales and Services;
B.    Executive resigned voluntarily from his employment with the Company effective May 31, 2012; and 
C.    It is the Company's desire to provide Executive with certain separation benefits that he would not otherwise be entitled to receive upon his resignation, and to resolve any claims that Executive has or may have against the Company.
Accordingly, Executive and the Company now agree as set forth below.  
AGREEMENT
1.Voluntary Resignation From Employment, Positions, and Offices.  Executive hereby confirms his voluntary resignation from his employment with the Company, and from all positions and offices that he held with the Company effective as of May 31, 2012, (the “Resignation Date”).  Through and including the Resignation Date, Executive will assist Company in duties as requested by Company including but not limited to transition assistance and Company will continue to verify and confirm Executive's employment with the Company.
2.Acknowledgment of Payment/Receipt of All Wages and Benefits.  Except payment for base salary, expense reimbursements, and commissions owed to him through the Resignation Date, Executive acknowledges that he has been paid in full all wages (including, but not limited to, base salary, commissions, expense reimbursements, and accrued, unused paid time off), and has received all benefits, that Executive earned during his employment with the Company, with the sole exception being those being those benefits to which he is entitled through the Resignation Date.  Except payment for base salary, expense reimbursements, and commissions through the Resignation Date, Executive understands and agrees that he is not entitled to, and shall not receive, any further compensation or benefits from the Company, including stock benefits, except as set forth below in Section 3.
3.Severance Payment and Modification of Stock Options.  Subject to Executive's execution of this Agreement (without revocation during the seven-day revocation period described below) and compliance with the terms of this Agreement, the Company shall provide Executive with a lump sum payment equal to $137,500 and six months of COBRA payments, less applicable withholding, by no later than July 15, 2012.  
Notwithstanding anything to the contrary contained in the Extreme Networks, Inc. Stock Option Agreement or Stock Option Plan, Executive and the Company agree that Executive shall have a period of 

4 months following the Resignation Date (through September 30, 2012) to exercise his right to purchase any or all of the vested shares under the Extreme Networks, Inc. Stock Option Agreement.  Vesting of all option shares shall cease effective the Resignation Date.  Except as modified by this Section 3, Executive's rights with respect to exercise the vested shares, all equity interest(s) shall continue to be governed by and subject to the terms and conditions of the Extreme Networks, Inc. Stock Option Agreement or any other applicable equity plans/agreements. 
4.General Release of Claims.  As consideration for the stock option modifications described in Section 3, Executive and his successors release the Company, its parents and subsidiaries, and each of  those entities' respective current and former shareholders, investors, directors, officers, employees, agents, accountants, attorneys, tax advisors, insurers, legal successors and assigns, of and from any and all claims, actions and causes of action, whether now known or unknown, which Executive now has, or at any other time had, or shall or may have against those released parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which Executive signs this Agreement, including, but not limited to, any claims for breach of express or implied contract, wrongful termination, constructive discharge, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, pregnancy, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, the California Fair Employment and Housing Act, or any other applicable law. Notwithstanding the above release of claims, it is expressly understood that this release does not apply to, and shall not be construed as, a waiver or release of any claims or rights that cannot lawfully be released by private agreement.  This release of claims shall not affect Executive's existing indemnity rights from the Company (whether pursuant to contract or statute, including, but not limited to, his indemnity rights pursuant to California Labor Code section 2802), which rights shall remain in full force and effect.  In addition, the above release of claims, is not intended to apply to or impact any continuing obligations the Company may have related to Executive's 401(k).
5.Civil Code Section 1542 Waiver.  Executive acknowledges that he has read section 1542 of the Civil Code of the State of California, which states in full:
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.
Executive waives any rights that he has or may have under section 1542 (or any similar provision of the laws of any other jurisdiction) to the full extent that he may lawfully waive such rights pertaining to this general release of claims, and affirms that he is releasing all known and unknown claims that he has or may have against the parties listed in Section 4 above.
6.Agreement Not To Assist With Other Claims.  Executive agrees that he shall not, at any time in the future, encourage any current or former Company employee, or any other person or entity, to file any legal or administrative claim of any type or nature against the Company or any of its officers or employees.  Executive further agrees that he shall not, at any time in the future, assist in any manner any current or former Company employee, or any other person or entity, in the pursuit or prosecution of any legal or administrative claim of any type or nature against the Company or any of its officers or employees.  This Section shall not apply to the Executive's participation in any legal or administrative proceeding pursuant to a duly-issued subpoena or other compulsory legal process.  

7.Prior Agreement and Return of Company Property.  Executive acknowledges and agrees that he shall continue to be bound by and comply with the terms of any proprietary rights, assignment of inventions, and/or confidentiality agreements between the Company and Executive, a copy of each having been provided to Executive at his request.  To the extent that he has not already done so,  by the Resignation Date, Executive will promptly return to the Company, in good working condition, all Company property and equipment that is in Executive's possession or control, including, but not limited to, any PDAs, files, records, computers, computer equipment, cell phones, credit cards, keys, programs, manuals, business plans, financial records, and all documents (whether in paper, electronic, or other format, and all copies thereof) that Executive prepared or received in the course of his employment with the Company.
8.Non-Disparagement.  Executive agrees that he will not make any disparaging statements about the Company, or any of its services, products, officers, employees, or directors, except to the extent that such statements are made truthfully in response to a duly-issued subpoena or other compulsory legal process.
9.Non-Solicitation.  Executive agrees that for a period of  one year following the Resignation Date, he will not, on behalf of himself or any other person or entity, directly or indirectly solicit any employee of the Company to terminate his/her employment with the Company.
10.Section 409A Compliance. The Company intends that income provided to the Executive pursuant to this Agreement will not be subject to taxation under Section 409A of the Internal Revenue Code (“Section 409A”).  The provisions of this Agreement shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A of the Code.  However, the Company does not guarantee any particular tax effect for income provided to the Executive pursuant to this Agreement.  In any event, except for the Company's responsibility to withhold applicable income and employment taxes from compensation paid or provided to the Executive, the Company shall not be responsible for the payment of any applicable taxes incurred by the Executive on compensation paid or provided to the Executive pursuant to this Agreement.  In the event that any compensation to be paid or provided to Executive pursuant to this Agreement may be subject to the excise tax described in Section 409A, the Company may delay such payment for the minimum period required in order to avoid the imposition of such excise tax.
11.Governing Law.  This Agreement shall be interpreted in accordance with and governed by the laws of the State of California. 
12.Severability.  If any provision of this Agreement is deemed invalid, illegal, or unenforceable, that provision will be modified so as to make it valid, legal, and enforceable, or if it cannot be so modified, it will be stricken from this Agreement, and the validity, legality, and enforceability of the remainder of the Agreement shall not in any way be affected.  
13.Dispute Resolution.  In the event of any disputes or claims between the parties, including, but not limited to, any claims that are based upon or arise out of this Agreement or any alleged breach of this Agreement, the parties agree that all such disputes or claims shall be resolved by binding arbitration in the manner described in the Employment Agreement, a copy of which has been provided to Executive at his request. 
14.Entire Agreement and Modification.  This Agreement, along with any agreements described in Sections 3 and 7 (all as modified herein), any other applicable equity plan, and the Indemnity Agreement between the parties dated October 20, 2011, constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior negotiations and agreements between the parties, whether written or oral, including the Employment Agreement (other than the arbitration provision described in Section 13, which is incorporated herein as described in Section 13), which agreements are hereby terminated and of no further legal force or effect.  This Agreement may not be modified or amended except by a document signed by an authorized officer of the Company and Executive.

[INTENTIONALLY LEFT BLANK]

EXECUTIVE ACKNOWLEDGES THAT HE HAS CONSULTED WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND THAT HE IS GIVING UP ANY LEGAL CLAIMS (AS DESCRIBED ABOVE IN SECTIONS 4 AND 5) HE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS AGREEMENT.  EXECUTIVE UNDERSTANDS THAT HE MAY HAVE UP TO 21 DAYS TO CONSIDER THIS AGREEMENT, THAT HE MAY REVOKE IT AT ANY TIME DURING THE 7 DAYS AFTER HE SIGNS IT, AND THAT IT SHALL NOT BECOME EFFECTIVE UNTIL THAT 7-DAY PERIOD HAS PASSED.  EXECUTIVE ACKNOWLEDGES THAT HE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE STOCK OPTION MODIFICATIONS DESCRIBED IN SECTION 3, WHICH HE WOULD NOT OTHERWISE BE ENTITLED TO RECEIVE.

	
		
	

Dated: May 6, 2012
	/s/ Michael Seaton

	

Dated: May 7, 2012
	

EXTREME NETWORKS, INC.

By: /s/ Diane Honda
Its: VP, General Counsel

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