Document:

escrowagmt.htm

Exhibit
    10.1

    EXECUTION
      COPY

    

    ESCROW
      AGREEMENT

    

    

    THIS
      ESCROW AGREEMENT (as the same may
      be amended or modified from time to time and including any and all written
      instructions given to “Escrow Agent” (hereinafter defined) pursuant hereto, this
“Escrow Agreement”) is made and entered into as of
      June 25, 2007, by and  among Perficient, Inc., a Delaware corporation
      (“Party A”), Tier1 Innovation, LLC, a Colorado limited
      liability company (“Party B”, and together with Party
      A, sometimes referred to collectively as the
“Parties”), and JPMorgan Chase Bank, N.A. (the
“Escrow Agent”).

    

    WHEREAS,
      Party A and
      Party B are parties to that certain Asset Purchase Agreement dated as of June
      25, 2007 (the “Purchase Agreement”).  Escrow
      Agent is not a party to, has not received and will not be responsible for the
      Purchase Agreement.

    

    WHEREAS,
      in connection
      with the closing of the transactions contemplated by the Purchase Agreement
      (the
“Closing”), the Seller has agreed to deposit into
      escrow with the Escrow Agent one or more certificates in the name of Seller
      evidencing in the aggregate 95,819 shares of common stock, par value $0.001
      per
      share, of Perficient, Inc. (“Buyer Common Stock”)
      (such shares referred to herein as the “Escrowed
      Shares”), to be held by the Escrow Agent pursuant to the terms and
      conditions set forth in this Agreement and the Purchase Agreement pending the
      occurrence of certain events set forth herein and therein; and

    

    WHEREAS,
      the purpose
      of the Escrowed Shares is to secure claims under Article IX of the Purchase
      Agreement (“Indemnification Claims”); and

    

    WHEREAS,
      Escrow Agent
      is willing to serve in such capacity on the terms and conditions hereinafter
      set
      forth.

    

    NOW
      THEREFORE, in
      consideration of the foregoing and of the mutual covenants hereinafter set
      forth, the parties hereto agree as follows:

    

    1.  Appointment.  The
      Parties hereby appoint the Escrow Agent as their escrow agent for the purposes
      set forth herein, and the Escrow Agent hereby accepts such appointment under
      the
      terms and conditions set forth herein.

    

    2.  Definitions.  Unless
      otherwise defined herein, each capitalized term used in this Agreement shall
      have the meaning ascribed to such term in the Purchase Agreement.

    

    3.  Authority
      of Party A.  Each of the Parties hereto agrees that Party
      A shall have authority to settle all Indemnification Claims in accordance with
      Article IX of the Purchase Agreement on behalf of any of the affiliates of
      Party
      A.  Unless the context otherwise requires, any references to
      Party A contained herein shall be deemed to be references to Buyer and its
      affiliates.

    

    4.  Authority
      of Party B.  Prior to the distribution of the Escrowed
      Shares, if any, each of the Parties hereto agree that Party B shall have
      authority to settle all claims under this Agreement or the Purchase Agreement
      on
      behalf of any Seller Interest Holder who is entitled to receive a part of the
      Escrowed Shares, if any, upon the release and distribution from this
      escrow.  If after the Closing and prior to the distribution of the
      Escrowed Shares, Party B transfers record ownership of or assigns the Escrowed
      Shares to any Seller Interest Holder listed on Annex I hereto, each of the
      parties hereto agree that Mark Johnston shall have authority to settle all
      claims under this Escrow Agreement or the Purchase Agreement on behalf of the
      Seller Interest Holders who are entitled to receive a part of the Escrowed
      Shares upon the release and distribution from this escrow.  Unless
      context otherwise requires, any references to Party B contained herein shall
      be
      deemed to be references to Seller and to the Seller Interest Holders to the
      extent Escrowed Shares have been transferred or assigned to the Seller Interest
      Holders.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    5.  Deposit
      of Escrowed Shares.

     

    

    (a)           Promptly
      following the date of this Escrow Agreement, Party A and Party B shall instruct
      Continental Stock Transfer & Trust Company
      (“Continental”) to deliver the Escrowed Shares and
      stock powers signature guaranteed received by Continental in connection with
      the
      Escrowed Shares to the Escrow Agent.  The Escrowed Shares shall
      constitute an escrow fund (the “Escrow Fund”) for the
      satisfaction of Indemnification Claims of the Parent Indemnified Persons under
      the Purchase Agreement.  The Escrow Fund shall be held as a escrow
      fund and shall not be subject to any lien, attachment, trustee process or any
      other judicial process of any creditor of any person, including any Party
      hereto.  The Escrow Agent agrees to accept delivery of the Escrowed
      Shares and stock powers and to hold the Escrowed Shares and stock powers in
      an
      escrow account, subject to the terms and conditions of this Escrow
      Agreement.

    

    (b)           Each
      record owner of the Escrowed Shares shall be entitled to exercise all voting
      rights with respect to such owner’s Escrowed Shares.

    

    (c)           Party
      A and Party B agree between themselves, for the benefit of Party A and the
      Escrow Agent, that any securities or other property distributable (whether
      by
      way of dividend, stock split or otherwise) in respect of or in exchange for
      any
      Escrowed Shares shall not be distributed to the record owners of such Escrowed
      Shares, but rather shall be distributed to and held by the Escrow Agent in
      the
      Escrow Fund.  Ordinary cash dividends will be paid by Party A directly
      to the Seller Interest Holders or other record owners of such Escrowed Shares
      and not to the Escrow Agent.  Unless and until the Escrow Agent shall
      actually receive such additional securities or other property, it may assume
      without inquiry that the Escrowed Shares currently being held by it in the
      Escrow Fund are all that the Escrow Agent is required to hold.  At the
      time any Escrowed Shares are required to be released from the Escrow Fund to
      any
      Person pursuant to this Agreement, any securities or other property previously
      received by the Escrow Agent in respect of or in exchange for such Escrowed
      Shares shall be released from the Escrow Fund to such Person.

    

    6.  Release
      Date.  For purposes of this Agreement, the
“Release Date” shall be June 26, 2008.

    

    7.  Administration
      of Escrow Fund.  Except as otherwise provided herein, the
      Escrow Agent shall administer the Escrow Fund as follows:

    

    (a)           If,
      as of the Release Date, the Escrow Agent has not received written notice of
      any
      Indemnification Claims, then the Escrowed Shares, less the amount of all Claimed
      Amounts that have not been paid or otherwise resolved as of the Release Date
      (the “Retained Amount”) shall promptly (and in any
      event no later than ten Business Days thereafter) be released to Seller or
      to
      the Seller Interest Holders in whose names they have been issued as detailed
      in
      a joint written notice from Party A and Party B detailing the delivery
      instructions.  Upon resolution of all Claim Notices made prior to the
      Release Date, that portion of the Retained Amount that is not paid to Party
      A in
      satisfaction of such Claims Notice shall immediately be disbursed to Seller
      or
      to the Seller Interest Holders as set forth in the joint delivery instructions
      delivered as of the Release Date.

    

    (b)           Subject
      to the terms and conditions set forth in Section 9.04 of the Purchase Agreement,
      if Party A desires to make a claim against the Escrow Fund with respect to
      any
      Indemnification Claim, then Party A shall, on or prior 5:00 p.m. Central Time
      on
      June 25, 2008, deliver a written claim notice (a “Claim
      Notice”) to Party B and to the Escrow Agent.  Such Claim
      Notice shall (i) state that Party A believes in good faith that it is entitled
      to all or any portion of the Escrow Fund and certify that all requirements
      set
      forth in Article IX of the Purchase Agreement with respect to such
      indemnification have been satisfied; (ii) contain a reasonably detailed
      description of the circumstances supporting such belief; and (iii) indicate
      the
      good faith claimed amount of Damages necessary to satisfy such indemnification
      claim (the “Claimed Amount”) and what portion of the
      Escrow Funds are expected in good faith to be necessary to satisfy such
      Indemnification Claim.  The number of Escrowed Shares, if any, to be
      released shall be determined in accordance with Section7(d)
      below.

    

    (c)           Prior
      to 5:00 p.m. Central Time on the (30th) thirtieth day after receipt by Escrow
      Agent of a Claim Notice, Party B may deliver to Party A and to the Escrow Agent
      a written response (the “Response Notice”) in which
      Party B may:  (i) agree that the full Claimed Amount may be released
      from the Escrow Fund to 

    
      
        
        

      

      
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     Party
      A; (ii) agree that part, but not all, of the Claimed Amount (the
“Agreed Amount”) may be released from the Escrow Fund
      to Party A; or (iii) indicate that no part of the Claimed Amount may be released
      from the Escrow Fund toParty A.  Any part of the Claimed Amount that
      is not to be released to Party A shall be the “Contested
      Amount.”

    

    (A)           If
      Party B does not deliver a Response Notice within such 30-day period, then
      Party
      B shall be deemed to have indicated that the entire Claimed Amount may be
      released from Escrow Fund to Party A.

    

    (B)           If
      Party B delivers a Response Notice agreeing that the full Claimed Amount may
      be
      released from the Escrow Fund to Party A, the Escrow Agent shall promptly
      following the receipt of the Response Notice, deliver to Party A such number
      of
      Escrowed Shares, if any, equal in the aggregate to the Claimed
      Amount.

    

    (C)           If
      Party B delivers a Response Notice agreeing that part, but not all, of the
      Claimed Amount may be released from the Escrow Fund to Party A, the Escrow
      Agent
      shall promptly following the receipt of the Response Notice deliver to Party
      A
      such number of Escrowed Shares, if any, equal in the aggregate to the Agreed
      Amount.

    

    (D)           If
      Party B delivers a Response Notice indicating that there is a Contested Amount,
      Party B and Party A shall attempt in good faith to resolve the dispute related
      to the Contested Amount.  If Party A and Party B shall resolve such
      dispute, such resolution shall be binding on Party B and Party A and any other
      Buyer Indemnitee and Seller Indemnitee, as applicable, and a settlement
      agreement shall be signed by Party A and Party B and sent to the Escrow Agent,
      who shall, upon receipt thereof, if applicable, release Escrowed Shares, if
      any,
      from the Escrow Fund in accordance with the specific instructions provided
      in
      such agreement.

    

    (E)           If
      Party B and Party A are unable to resolve the dispute relating to any Contested
      Amount within 45 days after the delivery of the Claim Notice, the settlement
      of
      such Contested Amount shall take place by a binding arbitration proceeding
      which
      shall take place in Austin, Texas, unless an alternative location is otherwise
      mutually agreed to by Party A and Party B, and be conducted by an arbitrator
      who
      has not been affiliated with or engaged by either party for a period of five
      years preceding the commencement of the arbitration proceeding, and the Escrow
      Agent shall continue to hold the Contested Amount until Escrow Agent receives
      either:  (i) a written notice signed by Party A and Party B, providing
      specific written instructions regarding the delivery of the Contested Amount,
      if
      any, to be released from the Escrow Fund; or (ii) a final arbitration decision,
      in accordance with the following procedures, providing specific written
      instructions regarding the delivery of any or all of such Contested
      Amount.  The Contested Amount shall be settled in accordance with the
      Expedited Procedures of the Commercial Arbitration Rules of the American
      Arbitration Association.  The arbitrator's decision shall relate
      solely to whether Party A is entitled to receive the Contested Amount (or a
      portion thereof) from the Escrow Fund pursuant to the applicable terms of the
      Purchase Agreement and this Escrow Agreement.  The final decision of
      the arbitrator shall be furnished to Party A, Party B and the Escrow Agent
      in
      writing and shall constitute the conclusive determination of the issue in
      question, be binding upon Party A, the Seller Interest Holders and the Escrow
      Agent.  The prevailing party in any arbitration (which determination
      shall be made by the arbitrator) shall be entitled to an award of attorneys’
fees and costs to be paid by the losing party (which determination shall be
      made
      by the arbitrator), and the losing party shall also be liable for all costs
      of
      arbitration, including, but not limited to, the compensation to be paid to
      the
      arbitrator in any proceeding and the transcript and other expenses of such
      proceeding.

    

    (d)           In
      the event Seller has transferred record ownership of the Escrowed Shares to
      the
      Seller Interest Holders, any amounts distributed to Party A from the Escrow
      Fund
      shall be satisfied pro rata from each Seller Interest Holder’s Escrowed Shares
      in accordance with each Seller Interest Holder’s Percentage Interest set forth
      on Annex I to this Escrow Agreement.

    

    (e)           The
      number of Escrowed Shares, if any, to be released in payment and settlement
      of
      any Claimed Amount, Agreed Amount or all or any portion of the Contested Amount
      which may be awarded to Party A pursuant to Section 7(c)(E) above shall
      be determined by dividing such Claimed Amount, Agreed Amount or award, as
      applicable, by the average closing sale price per share of Buyer Common Stock
      as
      reported on the Nasdaq Global Select Market for the 30 consecutive trading
      days
      ending on the date that is one (1) trading day immediately

    
      
        
        

      

      
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    preceding
      the release of such shares (as adjusted as appropriate to reflect any stock
      splits, stock dividends, combinations, reorganizations, reclassifications or
      similar events).  The Escrow Agent will not be responsible for
      determining the share price.

    

    8.  Escrow
      Agent.  The Escrow Agent undertakes to perform only such
      duties as are expressly set forth herein and no duties shall be implied. The
      Escrow Agent shall have no liability under and no duty to inquire as to the
      provisions of any agreement other than this Escrow Agreement.  The
      Escrow Agent may rely upon any written notice, document, instruction or request
      furnished to it hereunder and believed by it to be genuine and to have been
      signed or presented by the proper party or parties.  The Escrow Agent
      shall be under no duty to inquire into or investigate the validity, accuracy
      or
      content of any such document, notice, instruction or request.  The
      Escrow Agent shall have no duty to solicit any payments which may be due it
      or
      the Escrow Fund.  The Escrow Agent shall not be liable for any action
      taken or omitted by it in good faith except to the extent that a final
      adjudication of a court of competent jurisdiction determines that the
      Escrow Agent's gross negligence or willful misconduct was the primary cause
      of
      any loss to either of the Parties.  The Escrow Agent may execute any
      of its powers and perform any of its duties hereunder directly or through agents
      or attorneys (and shall be liable only for the careful selection of any such
      agent or attorney) and may consult with counsel, accountants and other skilled
      persons to be selected and retained by it.  The Escrow Agent shall not
      be liable for anything done, suffered or omitted in good faith by it in
      accordance with the advice or opinion of any such counsel, accountants or other
      skilled persons except to the extent that a final adjudication of a court
      of competent jurisdiction determines that the Escrow Agent's gross negligence
      or
      willful misconduct was the primary cause of any loss to either of the
      Parties.  In the event that the Escrow Agent shall be uncertain as to
      its duties or rights hereunder or shall receive instructions, claims or demands
      from any party hereto which, in its opinion, conflict with any of the provisions
      of this Escrow Agreement, it shall be entitled to refrain from taking any action
      and its sole obligation shall be to keep safely all property held in escrow
      until it shall be directed otherwise in writing by all of the other parties
      hereto or by a final order or judgment of a court of competent
      jurisdiction.  The Escrow Agent may interplead all of the assets held
      hereunder into a court of competent jurisdiction or may seek a declaratory
      judgment with respect to certain circumstances, and thereafter be fully relieved
      from any and all liability or obligation with respect to such interpleaded
      assets or any action or nonaction based on such declaratory
      judgment.  The parties hereto other than the Escrow Agent agree to
      pursue any redress or recourse in connection with any dispute without making
      the
      Escrow Agent a party to the same.  Anything in this Escrow Agreement
      to the contrary notwithstanding, in no event shall the Escrow Agent be liable
      for special, indirect or consequential loss or damage of any kind whatsoever
      (including but not limited to lost profits), even if the Escrow Agent has been
      advised of the likelihood of such loss or damage and regardless of the form
      of
      action. Escrow
      Agent
      may rely on the validity, accuracy and content of the statements contained
      any
      written notice, document, instruction, or request furnished to it hereunder
      by
      Party A and Party B without further investigation, inquiry or
      examination.  For the avoidance of doubt, the Escrow Agent shall have
      no liability with respect to any provisions of this Escrow Agreement which
      set
      forth obligations or limitations of liability that the other parties to this
      Esrcrow Agreement have to each other.  The Escrow Agent shall have no
      obligation to investigate, inquire, examine or assist in any manner whatsoever,
      the parties' compliance with the terms of this Escrow Agreement that incorporate
      by reference provisions of the Purchase Agreement that apply to the other
      parties' obligations or limitations of liability to each other that do not
      relate to obligations of the Escrow Agent under this Escrow
      Agreement.

    

    9.  Succession.  The
      Escrow Agent may resign and be discharged from its duties or obligations
      hereunder by giving its written resignation to the Parties.  Such
      resignation shall take effect on the earlier of (a) a successor escrow agent
      being in place and (b) thirty days after such resignation is given to the
      Parties.  In such event, Party A may appoint a successor escrow
      agent.  If Party A fails to appoint a successor escrow agent within
      fifteen days after receiving the Escrow Agent’s written resignation, the Escrow
      Agent shall have the right to apply to a court of competent jurisdiction for
      the
      appointment of a successor escrow agent.  The successor escrow agent
      shall execute and deliver to the Escrow Agent an instrument accepting such
      appointment and the successor escrow agent shall, without further acts, be
      vested with all the estates, property rights, powers and duties of the
      predecessor Escrow Agent as if originally names as Escrow Agent
      herein.  The Escrow Agent shall act in accordance with written
      instructions from Party A and Party B as to the transfer of the Escrow Fund
      to a
      successor escrow agent.  If the Parties have failed to appoint a
      successor escrow agent prior to the expiration of thirty days following receipt
      of the notice of resignation, the Escrow Agent may petition any court of
      competent jurisdiction for the appointment of 

    
      
        
        

      

      
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    a
      successor escrow agent or for other appropriate relief, and any such resulting
      appointment shall be binding upon all of the parties hereto.

    

    10.  Removal
      of Escrow Agent.  The Escrow Agent may be removed at any
      time by mutual agreement of Party A and Party B by giving not less than 30
      days’
prior written notice to the Escrow Agent.  Prior to the expiration of
      such 30-day period, Party A and Party B shall designate, by mutual consent,
      a
      successor escrow agent.  If no successor escrow agent is appointed
      within such 30-day period, the Escrow Agent may deposit the amounts remaining
      in
      the Escrow Fund with a court of competent jurisdiction located in Austin, Texas,
      whereupon the Escrow Agent shall be discharged of all duties and obligations
      hereunder.

    

    11.  Compensation
      and Reimbursement.  Party
      A agrees to (a) pay the Escrow Agent upon execution of this Escrow Agreement
      and
      from time to time thereafter reasonable compensation for the services to be
      rendered hereunder, which unless otherwise agreed in writing shall be as
      described in Annex III attached hereto, and (b) pay or reimburse the Escrow
      Agent upon request for all expenses, disbursements and advances, including
      reasonable attorney's fees and expenses, incurred or made by it in connection
      with the preparation, execution, performance, delivery, modification and
      termination of this Escrow Agreement.

    

    12.  Indemnity.  The
      Parties shall jointly and severally indemnify, defend and save harmless the
      Escrow Agent and its directors, officers, agents and employees (the
“indemnitees”) from and against any and all loss,
      liability or expense (including the fees and expenses of in house or outside
      counsel and experts and their staffs and all expense of document location,
      duplication and shipment) arising out of or in connection with (a) the Escrow
      Agent's execution and performance of this Escrow Agreement, except in the case
      of any indemnitee to the extent that such loss, liability or expense is finally
      adjudicated to have been primarily caused by the gross negligence or willful
      misconduct of such indemnitee, or (b) its following any instructions or other
      directions from Party A or Party B, except to the extent that its following
      any
      such instruction or direction is expressly forbidden by the terms
      hereof.  The Parties hereto acknowledge that the foregoing indemnities
      shall survive the resignation or removal of the Escrow Agent or the termination
      of this Escrow Agreement.  The Parties hereby grant the Escrow Agent a
      lien on, right of set-off against and security interest in the Escrow Fund
      for
      the payment of any claim for indemnification, compensation, expenses and amounts
      due hereunder.

    

    13.  Account
      Opening Information/TINs.

    

    IMPORTANT
      INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

    

    For
      accounts opened in the US:

    To
      help
      the government fight the funding of terrorism and money laundering activities,
      Federal law requires all financial institutions to obtain, verify, and record
      information that identifies each person who opens an account.  When an
      account is opened,  the Escrow Agent will ask for information that
      will allow us to identify relevant parties.

    

    For
      non-US accounts:

    To
      help
      in the fight against the funding of terrorism and money laundering activities
      we
      are required along with all financial institutions to obtain, verify, and record
      information that identifies each person who opens an account. When you open
      an
      account, the Escrow Agent will ask for information that will allow us to
      identify you.

    

    TINs.
      Tax Matters. The Parties each represent that its
      correct Taxpayer Identification Number (“TIN”)
      assigned by the Internal Revenue Service (“IRS”) or
      any other taxing authority is set forth on the signature
      page hereof.  In addition, all interest or other
      income earned under the Escrow Agreement shall be reported by the recipient
      to
      the Internal Revenue Service or any other taxing
      authority.  Notwithstanding such written directions, Escrow Agent
      shall report and, as required, withhold any taxes as it determines may be
      required by any law or regulation in effect at the time of the
      distribution.  In the event that any earnings remain undistributed at
      the end of any calendar year, Escrow Agent shall report to the Internal Revenue
      Service or such other authority such earnings as it deems appropriate or as
      required by any applicable law or regulation or, to the extent consistent
      therewith, as directed in writing by the Parties.  In the absence of
      such written directions, undistributed earnings will be reported on
      as

    
      
        
        

      

      
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    belonging
      to Party A, and Party A shall be treated for federal income tax purposes as
      the
      owner of the property subject to the Escrow Agreement.

    

    14.  Notices. 
      All communications hereunder shall be in writing and shall be deemed
      to
      be duly given and received:

    

    (a)           upon
      delivery if delivered personally or upon confirmed transmittal if by
      facsimile;

    (b)           on
      the next Business Day (as hereinafter defined) if sent by overnight
      courier; or

    
      	
               

            	
              (c)

            	
              four
                Business Days after mailing if mailed by prepaid registered mail,
                return
                receipt requested, to the appropriate notice address set forth below
                or at
                such other address as any party hereto may have furnished to the
                other
                parties in writing by registered mail, return receipt
                requested.

            

    

    

    
      	
              If
                to Party A

            	
              Perficient,
                Inc.

            

    

    One
      City
      Place Drive, #190

    St.
      Louis,
      Missouri  63141

    Attention:  Paul
      E. Martin,
      Chief Financial Officer

    Phone:  314.995.8810

    Facsimile:  314.995.8802

    

    with
      a
      copy (which shall not constitute notice) to:

     

    Vinson
      & Elkins LLP

    The
      Terrace 7

    2801
      Via
      Fortuna, Suite 100

    Austin,
      Texas  78746

    Attention:  J.
      Nixon Fox III, Esq.

    Phone:  512.542.8427

    Facsimile:  512.236.3216

    

    

    
      	
              If
                to Party B:

            	
              Tier1
                Innovation, LLC

            

    

    7979
      East
      Tufts Avenue, Suite 1100

    Denver,
      Colorado  80237

    Attention:  Mark
      Johnston

    Phone:  303.376.3500

    

    with
      a
      copy (which shall not constitute notice) to:

     

    Davis
      Graham & Stubbs LLP

    1550
      17th Street,
      Suite 500

    Denver,
      Colorado 80202

    Attn:    Ryan
      C. Arney

    Phone:  303.892.7373

    Facsimile:  303.893.1379

    

    
      	
              If
                to the Escrow Agent:

            	
              JPMorgan
                Chase Bank, N.A.

            

    

    712
      Main
      Street, 5th Floor South, TX2 S037

    Houston,
      Texas  77002

    Attention:  Luis
      Bustamante, Escrow Services

    Fax
      No.:
      (713) 216-6927

    

    Notwithstanding
      the above, in the case of communications delivered to the Escrow Agent pursuant
      to (b) and (c) of this Section 14, such communications shall be deemed to
      have been given on the date received by the Escrow Agent.  In the event
      that the Escrow Agent, in its sole discretion, shall determine that an emergency
      exists, the Escrow

    
      
        
        

      

      
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    Agent
      may
      use such other means of communication as the Escrow Agent deems
      appropriate.  “Business Day” shall mean any
      day other than a Saturday, Sunday or any other day on which the Escrow Agent
      located at the notice address set forth above is authorized or required by
      law
      or executive order to remain closed.

    

    15.  Security
      Procedures.  In the event funds transfer
      instructions are given (other than in writing at the time of execution of this
      Escrow Agreement, as indicated in Section 9 above), whether in writing,
      by telecopier or otherwise, the Escrow Agent is authorized to seek confirmation
      of such instructions by telephone call-back to the person or persons designated
      on Annex III hereto, and the Escrow Agent may rely upon the confirmation of
      anyone purporting to be the person or persons so designated.  The
      persons and telephone numbers for call-backs may be changed only in a writing
      actually received and acknowledged by the Escrow Agent. If the Escrow Agent
      is
      unable to contact any of the authorized representatives identified in Annex
      III,
      the Escrow Agent is hereby authorized to seek confirmation of such instructions
      by telephone call-back to any one or more of your executive officers,
      (“Executive Officers”), which shall include the titles
      of President or Chief Financial Officer as the Escrow Agent may
      select.  Such Executive Officer shall deliver to the Escrow Agent a
      fully executed Incumbency Certificate, and the Escrow Agent may rely upon the
      confirmation of anyone purporting to be any such officer. The Escrow Agent
      and
      the beneficiary's bank in any funds transfer may rely solely upon any account
      numbers or similar identifying numbers provided by Party A or Party B to
      identify (a) the beneficiary, (b) the beneficiary's bank, or (c) an intermediary
      bank.  The Escrow Agent may apply any of the escrowed funds for any
      payment order it executes using any such identifying number, even when its
      use
      may result in a person other than the beneficiary being paid, or the transfer
      of
      funds to a bank other than the beneficiary's bank or an intermediary bank
      designated. The parties to this Escrow Agreement acknowledge that these security
      procedures are commercially reasonable.  Party A and Party B agree
      that repetitive or standing settlement instructions will be effective as the
      funds transfer instructions of Party A and Party B, whether or not authorized,
      if such settlement instructions are verified pursuant to the security procedure
      provided herein or such other security procedure that the Escrow Agent, Party
      A
      and Party B may agree to.

    

    16.  Miscellaneous.  The
      provisions of this Escrow Agreement may be waived, altered, amended or
      supplemented, in whole or in part, only by a writing signed by all of the
      parties hereto.  Neither this Escrow Agreement nor any right or
      interest hereunder may be assigned in whole or in part by any party, except
      as
      provided in Sections 9 and 10, without the prior consent of the
      other parties.  This Escrow Agreement shall be binding upon each of
      the parties hereto and each of their respective successors and assigns, if
      any.  Nothing in this Escrow Agreement is intended to confer, or shall
      be deemed to confer, any rights or remedies upon any person or entity other
      than
      the parties hereto and their successors and assigns.  This Escrow
      Agreement shall inure to the benefit of: Party A, the Seller Interest Holders,
      Party B, Escrow Agent and their respective successors and assigns, if any,
      of
      the foregoing.  This Escrow Agreement shall be governed by and
      construed under the laws of the State of Texas.  Each party hereto
      irrevocably waives any objection on the grounds of venue, forum non-conveniens
      or any similar grounds and irrevocably consents to service of process by mail
      or
      in any other manner permitted by applicable law and consents to the jurisdiction
      of the courts located in the State of Texas.  The parties further
      hereby waive any right to a trial by jury with respect to any lawsuit or
      judicial proceeding arising or relating to this Escrow Agreement.  No
      party to this Escrow Agreement is liable to any other party for losses due
      to,
      or if it is unable to perform its obligations under the terms of this Escrow
      Agreement because of, acts of God, fire, war, terrorism, floods, strikes,
      electrical outages, equipment or transmission failure, or other causes
      reasonably beyond its control.  This Escrow Agreement and the other
      agreements referred to herein set forth the entire understanding of the parties
      hereto relating to the subject matter hereof and thereof and supersede all
      prior
      agreements and understandings among or between any of the parties relating
      to
      the subject matter hereof and thereof.  Nothing in this Escrow
      Agreement shall derogate from, or modify in any respect any of the terms and
      provisions of the Purchase Agreement, including Article IX thereof, with respect
      to indemnification.  In the event any provision of this Escrow
      Agreement shall be held invalid or unenforceable by any court of competent
      jurisdiction, such holding shall not invalidate or render unenforceable any
      other provision of this Escrow Agreement and each and every other provision
      of
      this Escrow Agreement shall continue in full force and effect.  The
      waiver by any party hereto of a breach of any provision of this Escrow Agreement
      shall not operate or be construed as a waiver of any other or subsequent breach
      by any party.  This Escrow Agreement may be executed in one or more
      counterparts, each of which shall be deemed an original, but all of which
      together shall constitute one and the same instrument. All signatures of the
      parties tothis
      Escrow Agreement may be transmitted by facsimile, and such facsimile will,
      for
      all purposes, be deemed to be the original signature of such party whose
      signature it reproduces, and will be binding upon such
      party.
      

        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

      

    

     

    17.  Termination.  This
      Escrow Agreement shall terminate upon the earliest occurrence of any of the
      following events: (a) the written agreement of Party A and Party B; or
      (b) upon the delivery by Escrow Agent of all of the Escrow Fund in
      accordance with the terms of this Agreement; provided, however, that Sections
      7(c) and 11 shall survive any termination of this
      Agreement.

    

    18.  Compliance
      with Court Orders.  In the event that
      any escrow property shall be attached, garnished or levied upon by any court
      order, or the delivery thereof shall be stayed or enjoined by an order of a
      court, or any order, judgment or decree shall be made or entered by any court
      order affecting the property deposited under this Escrow Agreement, the Escrow
      Agent is hereby expressly authorized, in its sole discretion, to obey and comply
      with all writs, orders or decrees so entered or issued, which it is advised
      by
      legal counsel of its own choosing is binding upon it, whether with or without
      jurisdiction, and in the event that the Escrow Agent obeys or complies with
      any
      such writ, order or decree it shall not be liable to any of the parties hereto
      or to any other person, firm or corporation, by reason of such compliance
      notwithstanding such writ, order or decree be subsequently reversed, modified,
      annulled, set aside or vacated.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

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

    

    
      

       

      Tax
        Certification: Taxpayer Identification Number (TIN):
74-2853258                                                                                     
Date: June 25, 2007

       

      Name
        & Address:  Perficient, Inc.

       

       
1120
        South Capital of Texas
        Highway, Building 3, Suite 220

       

       Austin,
        Texas  78746

       

      Customer
        is a (check one):

       

      

    

    
      X
        Corporation                                              
___
        Partnership

    

    
      ___
        Individual/sole
        proprietor                                           ___
        Trust                                ___
        Other _________________

       

      Taxpayer
        is (check if applicable):

       

      X
        Exempt
        from backup withholding

       

      Under
        the penalties of perjury, the undersigned certifies
        that:

       

      

    

    
      
        	
                (1)  

              	
                the
                  number shown above is its correct Taxpayer Identification Number
                  (or it is
                  waiting for a number to be issued to
                  it);

              

      

       

      
        	
                (2)  

              	
                 it
                  is not subject to backup withholding because: (a) it is exempt
                  from backup
                  withholding or (b) it has not been notified by the Internal Revenue
                  Service (IRS) that it is subject to backup withholding as a result
                  of
                  failure to report all interest or dividends, or (c) the IRS has
                  notified
                  it that it is no longer subject to backup withholding;
                  and

              

      

       

      
        	
                (3)  

              	
                the
                  entity is a U.S. person (including a U.S. resident
                  alien).

              

      

       

      

    

    
       (If
        the entity is subject to backup withholding, cross out the words after the
        (2)
        above.)

       

      Investors
        who do not supply a tax identification number will be subject to backup
        withholding in accordance with IRS regulations.

       

      Note:
        The IRS does not require your
        consent to any provision of this document other than the certifications required
        to avoid backup withholding.

       

      

    

    
      	
               

            	
              PARTY
                A

            

    

    

    
      	
               

            	
              Perficient,
                Inc.

            

    

    

    

    
      	
              By:

            	
              /s/
                Jeff Davis

            	 

    

    
      	
               

            	
              Printed
                Name:  Jeff
                Davis

            

    

    
      	
               

            	
              Title:  President

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      

       

      Tax
        Certification: Taxpayer Identification Number
        (TIN):  84-1546736                                                    
        Date: June 25, 2007

       

      Name
        & Address: Tier1 Innovation, LLC

       

       7979
        East Tufts Avenue, Suite
        1100

       

       Denver,
        CO  80237

       

      Customer
        is a (check one):

       

      

    

    
      X     Corporation                                           ___
        Partnership

    

    
      ___
        Individual/sole
        proprietor                                           ___
        Trust                                ___
        Other _________________

       

      Taxpayer
        is (check if applicable):

       

      X      Exempt
        from backup withholding

       

      Under
        the penalties of perjury, the undersigned certifies
        that:

       

       

    

    
      
        	
                (4)  

              	
                the
                  number shown above is its correct Taxpayer Identification Number
                  (or it is
                  waiting for a number to be issued to
                  it);

              

      

       

      
        	
                (5)  

              	
                 it
                  is not subject to backup withholding because: (a) it is exempt
                  from backup
                  withholding or (b) it has not been notified by the Internal Revenue
                  Service (IRS) that it is subject to backup withholding as a result
                  of
                  failure to report all interest or dividends, or (c) the IRS has
                  notified
                  it that it is no longer subject to backup withholding;
                  and

              

      

       

      
        	
                (6)  

              	
                the
                  entity is a U.S. person (including a U.S. resident
                  alien).

              

      

       

      

    

    
       (If
        the entity is subject to backup withholding, cross out the words after the
        (2)
        above.)

       

      Investors
        who do not supply a tax identification number will be subject to backup
        withholding in accordance with IRS regulations.

       

      Note:
        The IRS does not require your
        consent to any provision of this document other than the certifications required
        to avoid backup withholding.

       

      

    

    
      	
               

            	
              PARTY
                B

            

    

    

    
      	
               

            	
              Tier1
                Innovation, LLC

            

    

    

    

    
      	
              By:

            	
              /s/
                Mark Johnston

            	 

    

    
      	
               

            	
              Printed
                Name:  Mark Johnston

            

      	 	Title:  President

    

         

    

    JPMORGAN
      CHASE BANK, N.A.

    

    
      	
               

            	
              as
                Escrow Agent

            

    

    

    

    
      	
              By:  

            	
              /s/
                Ruth Chipongian

            

    

    
      	
               

            	
              Printed
                Name:  Ruth
                Chipongian

            

    

    
      	
               

            	
              Title:  Assistant
                Vice President & Trust
                Officer

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Annex
      I

    

    Seller
      Interest Holders

    

    

     

    
      	
               

              Seller
                Interest Holder

            	
              Escrowed

              Shares

            	
              Percentage
                Interest

            
	
              Mark
                Johnston

            	
              40,775

            	
              42.6%

            
	
              Jay
                Johnson

            	
              40,775

            	
              42.6%

            
	
              Scott
                Nesbitt

            	
              4,418

            	
              4.6%

            
	
              Scott
                French

            	
              4,418

            	
              4.6%

            
	
              Jason
                Zimmer

            	
              2,716

            	
              2.8%

            
	
              Jill
                Colbeck

            	
              2,716

            	
              2.8%

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Annex
      II

    

    

    

    
      	
               

            	
              Telephone
                Number(s) for Call-Backs
                and

            

    

    
      	
               

            	
              Person(s)
                Designated to Confirm Funds Transfer
                Instructions

            

    

    

      
        	
                    If
                  to Party A:

              	 	 	 	 
	 	 	 	 	 
	
                Name

              	 	
                Telephone
                  Number

              	 	
                Signature

              
	 	 	 	 	 
	
                1  Paul
                  E. Martin

              	 	
                314.785.1470

              	 	
                /s/
                  Paul E. Martin

              
	 	 	 	 	 
	
                2  Dick
                  Kalbfleish

              	 	
                314.995.8885

              	 	
                /s/
                  Dick Kalbfleish

              
	 	 	 	 	 
	 	 	 	 	 
	
                   If
                  to Party B:

              	 	 	 	 
	 	 	 	 	 
	
                Name

              	 	
                Telephone
                  Number

              	 	 
	 	 	 	 	 
	
                1   Mark
                  R. Johnston

              	 	
                ________________

              	 	
                /s/
                  Mark R. Johnston

              
	 	 	 	 	 
	
                2   Jay
                  A. Johnson

              	 	
                ________________

              	 	
                /s/
                  Jay A. Johnson

              

      

    

    
Telephone
      call-backs shall be made to each Party A and Party B if joint instructions
      are
      required pursuant to this Escrow Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Annex
      III

    

    Escrow
      Agent’s Compensation:

    

    

    

    AttachedExhibit 10.1

Resignation Agreement

This Resignation
Agreement is entered into by and between Equity Residential (the “Company”) and
Donna Brandin (the “Executive”) as of as of September 5, 2007.

Witnesseth

Whereas, the
Executive is currently an officer of the Company;

Whereas,
the Company and the Executive desire to enter into this Resignation Agreement
to reflect the Executive’s resignation from her position as Executive Vice
President/Chief Financial Officer of the Company effective as of September 14,  2007 (the “Termination Date”);

Whereas,
the Release Agreement to be executed by the Company and the Executive and
attached hereto as Exhibit A shall also delineate the payments and benefits due
the Executive from the Company pursuant to the Severance Agreement entered into
the parties as of September 10, 2004 (the “Severance Agreement”);

NOW THEREFORE, the
Company and the Executive agree as follows:

1.     The
Executive hereby resigns from her position as Executive Vice-President/Chief
Financial Officer of the Company and as an officer of all subsidiaries of the
Company effective as of the Termination Date.

2.     The
Executive agrees that she will sign on or about the Termination Date the
Release Agreement attached hereto as Exhibit A, which upon execution shall entitle
the Executive to the payments and benefits delineated therein.

3.     The Executive hereby fully, finally, and
unconditionally releases the Company from any and all claims, suits, demands,
charges, debts, grievances, costs, attorneys’ fees or injuries of every kind or
nature, whether known or unknown, absolute or contingent, suspected or
unsuspected, which the Executive had or now has against the Company based on
any matter or thing occurring or arising prior to the date of this Resignation
Agreement, including but not limited to claims arising out of or relating to
the Executive’s employment with the Company or the separation of the Executive’s
employment from the Company.  This
release includes, but is not limited to, claims for breach of any implied or express
employment contract, wrongful discharge or layoff, constructive discharge,
retaliatory discharge, defamation, intentional or negligent infliction of
emotional distress, invasion of privacy, loss of consortium, negligence,
impairment of economic opportunity or other common law matters; claims for
wages, bonuses or other compensation; and claims of any constitutional right or
discrimination based on age, color, concerted activity, disability, marital
status, national origin, parental 

status, race, religion, retaliation, sex,
sexual orientation, source of income or veteran’s status, including but not
limited to claims arising under Title VII of the Civil Rights Act of 1964, the
Civil Rights Act of 1991, the Americans With Disabilities Act, the Age Discrimination
In Employment Act Of 1967, the Older Workers Benefit Protection Act, the
Employee Retirement Income Security Act, the Equal Pay Act, the Family And
Medical Leave Act, and any amendments to any of these statutes, as well as any
other state and local statutes and ordinances prohibiting discrimination in
employment, including but not limited to the laws of the State of  Illinois. 
The Executive further waives any right to monetary recovery should any
administrative agency pursue any released claim on the Executive’s behalf.  If for any reason any such agency takes the
position that a pending charge has been brought on the Executive’s behalf or
encompasses the Executive, the Executive agrees to immediately advise the
agency in writing that she does not wish to be involved in the matter and that
the agency should terminate all efforts on her behalf, all claims having been
fully and fairly satisfied by this Agreement. 
Excluded from this Agreement are any claims or administrative charges
which cannot be waived by law, claims relating to health insurance continuation
rights under the terms of COBRA, rights to vested retirement benefits, if any,
claims relating to enforcement of this Resignation Agreement and the Severance
Agreement, and claims for indemnification arising under law, by-laws or
contract.  THE EXECUTIVE UNDERSTANDS AND
AGREES THAT THIS RELEASE FOREVER BARS HER FROM SUING, ARBITRATING OR OTHERWISE
ASSERTING A CLAIM AGAINST THE COMPANY ON ANY RELEASED CLAIM.

In Witness Whereof, this
Resignation Agreement has been executed as of the above date.

Equity Residential

	
  By:

  	
  /s/ David J. Neithercut

  	
   

  	
  By:

  	
  /s/ Donna Brandin

  
	
   

  	
  David J.
  Neithercut,

  	
   

  	
   

  	
  Donna Brandin

  
	
   

  	
  Chief Executive
  Officer/President

  	
   

  	
   

  	
  Executive

  

EXHIBIT
A

RELEASE
AGREEMENT

This
Release Agreement (the “Agreement”) is entered into by and between Equity
Residential (“Equity”), and Donna Brandin (“Employee”) as of September 14,
2007.

Witnesseth

Whereas,
Employee was an officer of Equity;

Whereas,
Equity and Employee entered into a Severance Agreement dated September 10, 2004
(the “Severance Agreement”) which provided Employee with certain compensation
and benefits in the event of the termination of her employment;

Whereas,
Equity and Employee entered into a Resignation Agreement dated September 5,
2007 (the “Resignation Agreement”) pursuant to which Employee resigned her
employment effective as of September 14, 2007 (the “Termination Date”);

Whereas,
Employee agreed in the Resignation Agreement to execute this Release Agreement;

NOW,
THEREFORE, in consideration of the mutual covenants and promises contained
herein and in the Severance Agreement and the Resignation Agreement and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Equity and Employee voluntarily and knowingly agree as
follows:

1.             For
the purposes of this Agreement, the term “Equity” includes, Equity Residential,
Equity Residential Properties Management Limited Partnership, ERP Operating
Limited Partnership, Equity Residential Properties Management Limited
Partnership II, Equity Residential Properties Management Corp., Equity
Residential Properties Management Corp. II, Equity Apartment Management,
L.L.C., and to the extent applicable, as direct intended and third party
beneficiaries hereof, their past and present owners, directors, officers,
agents, attorneys, insurers, employees, representatives, trustees,
administrators, fiduciaries, parents, subsidiaries, divisions, partners, joint
ventures, sister corporations and/or affiliated business entities,
predecessors, successors, heirs, and assigns, jointly and severally, in both
their personal and corporate capacities.

2.             For
the purposes of this Agreement, the term “Employee” shall include Donna Brandin
and her heirs, successors, agents, and assigns.

3.             Subject to
Employee’s compliance with the terms and conditions of this Agreement, Employee
shall be entitled to the payments and benefits delineated in Section 3(b) of
the Severance Agreement, with the further agreement that: (i) Employee’s
outstanding performance shares shall be valued on or before November 15, 2007
using a 

valuation
date of September 30, 2007; (ii) Employee shall have ninety (90) days from the
Termination Date to exercise any vested options; and (iii) Employee shall not
receive any grant of long-term compensation for services provided during
2007.  Said payments and benefits shall
be paid and/or provided at the times provided in the Severance Agreement.

4.             Employee
hereby fully, finally, and unconditionally releases Equity from any and all
claims, suits, demands, charges, debts, grievances, costs, attorneys’ fees or
injuries of every kind or nature, whether known or unknown, absolute or
contingent, suspected or unsuspected, which Employee had or now has against
Equity based on any matter or thing occurring or arising prior to the date of
this Release Agreement, including but not limited to claims arising out of or
relating to Employee’s employment with Equity or the separation of Employee’s
employment from Equity.  This release
includes, but is not limited to, claims for breach of any implied or express
employment contract, wrongful discharge or layoff, constructive discharge,
retaliatory discharge, defamation, intentional or negligent infliction of emotional
distress, invasion of privacy, loss of consortium, negligence, impairment of
economic opportunity or other common law matters; claims for wages, bonuses or
other compensation; and claims of any constitutional right or discrimination
based on age, color, concerted activity, disability, marital status, national
origin, parental status, race, religion, retaliation, sex, sexual orientation,
source of income or veteran’s status, including but not limited to claims
arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act
of 1991, the Americans With Disabilities Act, the Age Discrimination In
Employment Act Of 1967, the Older Workers Benefit Protection Act, the Employee
Retirement Income Security Act, the Equal Pay Act, the Family And Medical Leave
Act, and any amendments to any of these statutes, as well as any other state
and local statutes and ordinances prohibiting discrimination in employment,
including but not limited to the laws of the State of  Illinois. 
Employee further waives any right to monetary recovery should any
administrative agency pursue any released claim on Employee’s behalf.  If for any reason any such agency takes the
position that a pending charge has been brought on Employee’s behalf or
encompasses Employee, Employee agrees to immediately advise the agency in
writing that she does not wish to be involved in the matter and that the agency
should terminate all efforts on Employee’s behalf, all claims having been fully
and fairly satisfied by this Agreement. 
Excluded from this Agreement are any claims or administrative charges
which cannot be waived by law, claims relating to health insurance continuation
rights under the terms of COBRA, rights to vested retirement benefits, if any,
claims relating to enforcement of this Agreement, and claims for
indemnification arising under law, by-laws or contract.  EMPLOYEE UNDERSTANDS AND AGREES THAT THIS
RELEASE FOREVER BARS EMPLOYEE FROM SUING, ARBITRATING OR OTHERWISE ASSERTING A
CLAIM AGAINST EQUITY ON ANY RELEASED CLAIM.

5.             It is expressly understood by
Employee and Equity that this Agreement is being entered into pursuant to the
terms of the Resignation Agreement and the Severance Agreement, under which
Employee received substantial consideration, and is solely for the purpose of
settling matters set forth in this Agreement and that by entering this
Agreement, Equity does not, in any way, either directly or indirectly, by
inference or otherwise, admit to any liability or wrongdoing, to any violation
under any law, statute, regulation, ordinance or contract or waive defenses as
to those matters within the scope of this Agreement and that no court, agency,
or arbitrator has found Equity so liable or to have committed any such
violation.

6.             Employee
warrants that she has returned to Equity all property belonging to Equity and
that she has not filed or brought any claim or charge against Equity with any
court, arbitral tribunal, administrative agency, governmental agency or other
such body.  Not later than 90 days
following the Termination Date, Employee shall submit a final travel and
expense report to Equity itemizing all outstanding travel and business expenses
which have not been previously reimbursed. 
The report will include all information and supporting documentation
normally provided under Equity’s practices and procedures.  Equity shall promptly reimburse Employee for
any such reimbursable expenses.

7.             This
Agreement, the Resignation Agreement and the Severance Agreement sets forth all
of the terms and conditions of the agreement between the parties on the matters
set forth in this Agreement and shall be considered and understood to be a
contractual commitment and not a mere recital. 
This Agreement shall be binding upon Equity and its successors and
assigns and upon Employee and her respective agents, heirs, executors,
representatives, and assigns.  Each party
shall bear and pay her or its own costs and attorneys’ fees with regard to this
Agreement and any matters covered herein.

8.             A
waiver of any right under this Agreement must be in writing to be
effective.  If any portion of this
Agreement is held invalid by operation of law, the remaining terms of this
Agreement shall not be affected.  The language
of all parts of this Agreement shall in all cases be construed as a whole,
according to its fair meaning, and not strictly for or against either of the
parties.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Illinois,
except to the extent that federal laws apply.

9.             Employee
agrees and acknowledges that should she violate any term of this Agreement, the
amount of damages that Equity would suffer as a result of such violation would
be difficult to ascertain.  Employee
further agrees and acknowledges that in the event of a breach by Employee of
any term of this Agreement, in addition to injunctive relief or any other
damages, Equity may recover all costs and expense reasonably incurred by Equity
in enforcing this Agreement or defending against a suit brought in violation of
this Agreement, including reasonable attorneys’ fees.  If Equity is not the prevailing party in any
such action, Employee may recover all cost and expense reasonably incurred by
her in such action, including reasonable attorneys’ fees.

10.           Employee
acknowledges that she has been given twenty-one (21) days from the date she
received this Agreement to consider its terms and decide whether or not to sign
it.  Employee understands that she may
revoke this Agreement at any time within the seven (7) day period following
execution thereof and that this Agreement shall become effective and
enforceable when the revocation period has expired.

11.           Employee
acknowledges that this Agreement constitutes written notice from Equity that it
advises Employee to seek legal counsel before signing this Agreement, and that
she has had an opportunity to do so.

12.           This
Agreement cannot be modified, withdrawn, rescinded or supplemented in any
manner after the date upon which it is executed except in writing signed by
both parties.  Employee acknowledges that
in executing this Agreement she does not rely on any inducements, promises or
representations made by Equity other than those expressly stated herein and in
the Severance Agreement.  Employee further
declares that she has read this Agreement and fully understands its terms and
contents, including her rights and obligations hereunder, and freely,
voluntarily and without coercion enters into this Agreement.

13.           Employee
agrees that after the Termination Date, she will cooperate with and assist
Equity from time to time in the investigation and defense of claims brought by
or against Equity.

14.           a.  For a period of one (1) year after
the Termination Date, (i) Employee will not become a consultant to, or an
officer, employee, agent, advisor, principal, partner, director or substantial
stockholder of any company or entity engaged in the multi-family apartment
rental or development or condominium conversion business; and (ii) Employee
will not, directly or indirectly, for the benefit of any company or entity
solicit the employment or services of, hire, or assist in the hiring of any
person employed by Equity and then eligible for its long term compensation
program.

b. Employee declares that
she has carefully read and considered the provisions of this Section 14 and
agrees that the restrictions set forth in this Section 14 (including the period
of restriction, scope of activity to be restrained and the geographical scope)
are fair and reasonable and are reasonably required for the protection of the interests
of Equity and its officers, directors, employees, creditors and
stockholders.  Employee understands that
the restrictions contained in this section may limit her ability to engage in a
business similar to that of Equity’s, but acknowledges that she will receive
sufficiently high compensation and other benefits hereunder to justify such
restrictions.

c. Employee shall not at any time hereafter make use
of or disclose, directly or indirectly, any (i) trade secret or other
confidential or secret information of Equity or of any of its subsidiaries or
(ii) other technical, business, proprietary or financial information of Equity
or of any of its subsidiaries not available to the public generally or to the
competitors of Equity or to the competitors of any of its subsidiaries (“Confidential
Information”), except to the extent that such Confidential Information: (i)
becomes a matter of public record, other than as a result of any act or
omission of 

Employee; or (ii) is required to be disclosed by any
law, regulation or order of any court or regulatory commission, department or
agency, provided that Employee gives prompt notice of such requirement to
Equity to enable Equity to seek an appropriate protective order.

d. Employee understands that if she fails to fulfill
her obligations under this Section 14, Equity will suffer irreparable injury,
and the damages to Equity would be very difficult to determine.  Therefore, in addition to any other rights or
remedies, Employee agrees that Equity will be entitled to a temporary,
preliminary, and permanent injunction enjoining or restraining Employee from
any such violation or threatened violation, without the necessity of proving
the inadequacy of monetary damages or the posting of any bond or security.  Employee hereby consents to specific
enforcement of this Section 14 by Equity through an injunction or restraining
order issued by any state or federal court of competent jurisdiction.  Employee further acknowledges and agrees that
due to the uniqueness of her services and confidential nature of the
confidential information she possesses, the covenants set forth herein are
reasonable and necessary for the protection of the business and the goodwill of
Equity.

15.           Employee agrees not to take any
action or make any statement that reasonably could be construed as an effort to
adversely affect the business or goodwill of Equity and further agrees not to
make disparaging or derogatory remarks about any Equity employee or
trustee.  Equity agrees to instruct its
Executive Management Committee not to take any action or make any statement
that reasonably could be construed as an effort to adversely affect Employee’s
personal reputation or future employment.

In Witness Whereof, this Release Agreement has been
executed as of the above date.

 

Equity Residential

	
  By:

  	
   

  	
   

  
	
   

  	
  Bruce C. Strohm

  	
   

  
	
   

  	
  Executive Vice
  President & General Counsel

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Donna Brandin,
  Executive

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]