Document:

Exhibit 10.3

 

THIRD LOAN MODIFICATION AGREEMENT

 

This
Third Loan Modification Agreement (this “Loan Modification Agreement’) is
entered into as of July 30, 2010, by and among (a) SILICON
VALLEY BANK, a California corporation with its principal place of
business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan
production office located at One Newton Executive Park, Suite 200, 2221
Washington Street, Newton, Massachusetts 02462 (“Bank”),
and (b) ENERNOC, INC., a Delaware
corporation (“EnerNOC”), and ENERNOC SECURITIES CORPORATION, a
Massachusetts corporation (“EnerNOC Securities”)
(hereinafter, EnerNOC and EnerNOC Securities are jointly and severally,
individually and collectively, referred to as “Borrower”).

 

1.             DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS.  Among other indebtedness and
obligations which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of August 5, 2008, evidenced by,
among other documents, a certain Loan and Security Agreement dated as of August
5, 2008, between Borrower and Bank, as amended by a certain First Loan
Modification Agreement dated as of May 29, 2009, between Borrower and Bank, and
as further amended by a certain Second Loan Modification Agreement dated as of
April 23, 2010, between Borrower and Bank (collectively, the “Loan Agreement”).  Capitalized terms used but not otherwise
defined herein shall have the same meaning as in the Loan Agreement.

 

2.             DESCRIPTION OF COLLATERAL.  Repayment of the Obligations is secured by
the Collateral as described in the Loan Agreement. The Loan Agreement, together
with any other loan documents entered into by Borrower pursuant to which
collateral security has been or will be granted to Bank, are referred to herein
as the “Security Documents”; the
Security Documents, together with all other documents evidencing or securing
the Obligations, are referred to herein as the “Existing Loan Documents”.

 

1.             DESCRIPTION OF
CHANGE IN TERMS.

 

A.                                   Modifications
to Loan Agreement.

 

1.                                       The Loan
Agreement shall be amended by deleting the following appearing as Section
2.5(c) thereof (entitled “Letter of Credit Fee”):

 

“(c)         Letter of Credit Fee.  Bank’s customary fees and expenses for the
issuance or renewal of Letters of Credit, including, without limitation, a
Letter of Credit Fee of one and one-quarter of one percent (1.25%) per annum of
the face amount of each Letter of Credit issued (other than the Letter of
Credit # SVBSF005826 issued by Bank in May, 2009, with respect to which a Letter
of Credit Fee of one and three-quarters of one percent (1.75%) per annum of the
face amount of such Letter of Credit shall apply), upon the issuance, each
anniversary of the issuance, and the renewal of each Letter of Credit by Bank;”

 

and inserting in lieu thereof the following:

 

“(c)         Letter of Credit Fee.  Bank’s customary fees and expenses for the
issuance or renewal of Letters of Credit, including, without limitation, a
Letter of Credit Fee of one and one-quarter of one percent (1.25%) per annum of
the face amount of each Letter of Credit issued, upon the issuance, each
anniversary of the issuance, and the renewal of each Letter of Credit by Bank;”

 

2.                                       The Loan
Agreement shall be amended by deleting the following, appearing as Section
6.7(b) thereof, in its entirety:

 

 

“(b)         Tangible Net Worth.  To be tested as of the last day of each of
Borrower’s fiscal quarters, Tangible Net Worth of at least (i) Seventy Million
Dollars ($70,000,000.00) as of the quarters ended June 30, 2008, September 30,
2008 and December 31, 2008, (ii) Fifty-Five Million Dollars ($55,000,000.00) as
of the quarter ended March 31, 2009, (iii) Fifty Million Dollars
($50,000,000.00) as of the quarter ended June 30, 2009 through and including
the quarter ended December 31, 2009, and (iv) One Hundred Million Dollars
($100,000,000.00) as of the quarter ended March 31, 2010 and as of the last day
of each quarter thereafter. 
Notwithstanding the foregoing, the amount required in the prior sentence
shall increase by an amount equal to fifty percent (50.0%) of the gross
proceeds received by Borrower from the sale of its equity in financing
transactions or the incurrence of Subordinated Debt after the Effective Date.”

 

and inserting in lieu thereof the following:

 

“(b)         Tangible Net Worth.  To be tested as of the last day of each of
Borrower’s fiscal quarters, Tangible Net Worth of at least (i) Seventy Million
Dollars ($70,000,000.00) as of the quarters ended June 30, 2008, September 30,
2008 and December 31, 2008, (ii) Fifty-Five Million Dollars ($55,000,000.00) as
of the quarter ended March 31, 2009, (iii) Fifty Million Dollars
($50,000,000.00) as of the quarter ended June 30, 2009 through and including
the quarter ended December 31, 2009, (iv) One Hundred Million Dollars
($100,000,000.00) as of the quarter ended March 31, 2010, and (v) One
Hundred Fifty Million Dollars ($150,000,000.00) as of the quarter ended June
30, 2010, and as of the last day of each quarter thereafter.  Notwithstanding the foregoing, the amount
required in clause (v) of the prior sentence shall increase by an amount equal
to fifty percent (50.0%) of the gross proceeds received by Borrower from the
sale of its equity in financing transactions or the incurrence of Subordinated
Debt after June 30, 2010.”

 

3.                                       The Loan
Agreement shall be amended by deleting the following definition appearing in
Section 13.1 thereof:

 

““Revolving
Line Maturity Date” is August 5, 2010.”

 

and
inserting in lieu thereof the following:

 

““Revolving
Line Maturity Date” is February 4, 2011.”

 

4.                                       The Loan
Agreement is hereby amended by deleting Exhibit B thereto in its
entirety and substituting the Exhibit B in the form attached as Schedule
1 hereto.  All references in the Loan
Agreement to the Compliance Certificate shall hereafter be deemed to refer to the
Exhibit B in the form attached as Schedule 1 hereto.

 

3.             FEES.  Borrower shall pay to Bank a commitment fee
equal to Fifty Thousand Dollars ($50,000.00), which fee shall be due on the
date hereof and shall be deemed fully earned as of the date hereof.  Borrower shall also reimburse Bank for all
legal fees and expenses incurred in connection with this amendment to the
Existing Loan Documents.

 

4.             PERFECTION CERTIFICATES.  EnerNOC
has delivered an updated Perfection Certificate in connection with this Loan
Modification Agreement (the “Updated Perfection
Certificate” ) dated as of July 30, 2010, which 

 

2

 

Updated
Perfection Certificate shall supersede in all respects that certain Perfection
Certificate dated as of April 23, 2010 delivered by EnerNOC to Bank. 
Borrower agrees that all references in the Loan Agreement to “Perfection
Certificate” with respect to EnerNOC shall hereinafter be deemed to be a
reference to the Updated Perfection Certificate.  Borrower hereby ratifies, confirms and
reaffirms, all and singular, the terms and disclosures contained in certain
Perfection Certificate dated as of August 5, 2008 delivered by EnerNOC
Securities to Bank and acknowledges, confirms and agrees the disclosures and
information provided to Bank in the Perfection Certificate delivered by EnerNOC
Securities have not changed, as of the date hereof.

 

5.             CONSISTENT CHANGES.  The Existing Loan Documents are hereby
amended wherever necessary to reflect the changes described above.

 

6.             RATIFICATION OF LOAN DOCUMENTS.  Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to Bank, and confirms that the indebtedness secured thereby includes, without
limitation, the Obligations.

 

7.             NO DEFENSES OF BORROWER.  Borrower hereby acknowledges and agrees that
Borrower has no offsets, defenses, claims, or counterclaims against Bank with
respect to the Obligations, or otherwise, and that if Borrower now has, or ever
did have, any offsets, defenses, claims, or counterclaims against Bank, whether
known or unknown, at law or in equity, all of them are hereby expressly WAIVED
and Borrower hereby RELEASES Bank from any liability thereunder.

 

8.             CONTINUING VALIDITY.  Borrower understands and agrees that in
modifying the existing Obligations, Bank is relying upon Borrower’s
representations, warranties, and agreements, as set forth in the Existing Loan
Documents.  Except as expressly modified
pursuant to this Loan Modification Agreement, the terms of the Existing Loan
Documents remain unchanged and in full force and effect.  Bank’s agreement to modifications to the
existing Obligations pursuant to this Loan Modification Agreement in no way
shall obligate Bank to make any future modifications to the Obligations.  Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations.  It is the intention of Bank and Borrower to
retain as liable parties all makers of Existing Loan Documents, unless the
party is expressly released by Bank in writing. 
No maker will be released by virtue of this Loan Modification Agreement.

 

9.             JURISDICTION/VENUE.  Borrower accepts for itself and in connection
with its properties, unconditionally, the exclusive jurisdiction of any state
or federal court of competent jurisdiction in the Commonwealth  of Massachusetts in any action, suit, or
proceeding of any kind against it which arises out of or by reason of this Loan
Modification Agreement; provided, however, that if for any reason Bank cannot
avail itself of the courts of the Commonwealth 
of Massachusetts, then venue shall lie in Santa Clara County,
California.  NOTWITHSTANDING THE
FOREGOING,  THE BANK SHALL HAVE THE RIGHT
TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE
COURTS OF ANY OTHER JURISDICTION WHICH THE BANK DEEMS NECESSARY OR APPROPRIATE
IN ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE BANK’S RIGHTS
AGAINST THE BORROWER OR ITS PROPERTY.

 

10.           COUNTERSIGNATURE.  This Loan Modification Agreement shall become
effective only when it shall have been executed by Borrower and Bank.

 

[Signature
page follows]

 

3

 

IN WITNESS WHEREOF, the parties hereto have
caused this Loan Modification Agreement to be executed as a sealed instrument
under the laws of the Commonwealth of Massachusetts as of the date above
written.

 

 

BORROWER:

 

ENERNOC, INC.

 

	
  By:

  	
  /s/
  Timothy Weller

  	
   

  
	
  Name:

  	
  Timothy
  Weller

  	
   

  
	
  Title:

  	
  Chief
  Financial Officer and Treasurer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  ENERNOC SECURITIES
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Timothy Weller

  	
   

  
	
  Name:

  	
  Timothy
  Weller

  	
   

  
	
  Title:

  	
  Treasurer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BANK:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SILICON VALLEY BANK

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Robin Gill

  	
   

  
	
  Name:

  	
  Robin
  Gill

  	
   

  
	
  Title:

  	
  Vice
  President

  	
   

  

 

 

SCHEDULE 1

 

EXHIBIT B

COMPLIANCE CERTIFICATE

 

	
  TO:

  	
  SILICON
  VALLEY BANK

  	
  Date:

  	
   

  
	
  FROM:

  	
  ENERNOC,
  INC. and ENERNOC SECURITIES CORPORATION

  	
   

  	
   

  

 

The
undersigned authorized officer of ENERNOC, INC. and ENERNOC SECURITIES
CORPORATION (individually and collectively, jointly and severally, “Borrower”)
certifies that under the terms and conditions of the Loan and Security
Agreement between Borrower and Bank (as amended, the “Agreement”), (1) Borrower
is in complete compliance for the period ending
                              
with all required covenants except as noted below, (2) there are no Events of
Default, (3) all representations and warranties in the Agreement are true
and correct in all material respects on this date except as noted below;
provided, however, that such materiality qualifier shall not be applicable to
any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be
true, accurate and complete in all material respects as of such date, (4)
Borrower, and each of its Subsidiaries, has timely filed all required tax
returns and reports, and Borrower has timely paid all foreign, federal, state
and local taxes, assessments, deposits and contributions owed by Borrower
except as otherwise permitted pursuant to the terms of Section 5.8 of the
Agreement, and (5) no Liens have been levied or claims made against Borrower or
any of its Subsidiaries relating to unpaid employee payroll or benefits of
which Borrower has not previously provided written notification to Bank.  Attached are the required documents
supporting the certification.  The
undersigned certifies that these are prepared in accordance with GAAP
consistently applied from one period to the next except as explained in an
accompanying letter or footnotes.  The
undersigned acknowledges that no borrowings may be requested at any time or
date of determination that Borrower is not in compliance with any of the terms
of the Agreement, and that compliance is determined not just at the date this
certificate is delivered.  Capitalized
terms used but not otherwise defined herein shall have the meanings given them
in the Agreement.

 

Please
indicate compliance status by circling Yes/No under “Complies” column.

 

	
  Reporting
  Covenant

  	
   

  	
  Required

  	
   

  	
  Complies

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quarterly
  Financial Statements on Form 10-Q

  	
   

  	
  Quarterly
  within 45 days

  	
   

  	
  Yes  No

  
	
  Monthly
  Compliance Certificate

  	
   

  	
  Monthly
  within 45 days

  	
   

  	
  Yes  No

  
	
  Annual
  financial statements (CPA Audited) on 10-K together with an unqualified
  audited opinion

  	
   

  	
  FYE
  within 90 days

  	
   

  	
  Yes  No

  
	
  8-K,
  10-Q and 10-K filings

  	
   

  	
  Within
  5 days after SEC filing

  	
   

  	
  Yes  No

  
	
  A/R
  and A/P agings and statement of account balances

  	
   

  	
  As
  requested by Bank (not more frequently than monthly)

  	
   

  	
  Yes  No

  
	
  Board
  projections

  	
   

  	
  60
  days after FYE

  	
   

  	
  Yes  No

  

 

Contracts
entered into during month by Borrower restricting grant of security interest to
Bank pursuant to

Section5.2
of the Agreement:

 

	
  Financial
  Covenant

  	
   

  	
  Required

  	
   

  	
  Actual

  	
   

  	
  Complies

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quick
  Ratio (monthly)

  	
   

  	
  2:0
  : 1.0

  	
   

  	
       :
  1.0

  	
   

  	
  Yes  No

  
	
  Tangible
  Net Worth (quarterly)

  	
   

  	
  $              *

  	
   

  	
  $              

  	
   

  	
  Yes  No

  

 

*As
set forth in Section 6.7(b) of the Loan and Security Agreement.

 

 

The following financial covenant analyses and information set forth in
Schedule 1 attached hereto are true and accurate as of the date of this
Certificate.

 

The following are the exceptions with respect to the certification
above:  (If no exceptions exist, state “No
exceptions to note.”)

 

 

 

	
  ENERNOC,
  INC.

  	
   

  	
  BANK
  USE ONLY

  
	
  ENERNOC
  SECURITIES CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
  Received
  by:

  	
   

  
	
  By:

  	
   

  	
   

  	
  AUTHORIZED SIGNER

  
	
  Name:

  	
   

  	
   

  	
  Date:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Verified:

  	
   

  
	
   

  	
   

  	
  AUTHORIZED SIGNER

  
	
   

  	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
  Compliance
  Status:              Yes   No

  
								

 

 

Schedule 1 to Compliance
Certificate

Financial Covenants of Borrower

 

	
  Dated:

  	
   

  	
   

  

 

In
the event of a conflict between this Schedule and the Loan Agreement, the terms
of the Loan Agreement shall control.

 

I.              QUICK RATIO (Section
6.7(a))

 

Required:               2.00: 1.00

 

Actual:                                                                :
1.00

 

	
  A.

  	
   

  	
  Aggregate
  value of the unrestricted cash of Borrower

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B.

  	
   

  	
  Aggregate
  value of the net accounts receivable of Borrower plus unbilled amounts on
  Borrower’s balance sheet that are contractually owing to Borrower from PJM
  and that are payable within the next twelve (12) months in an amount not to
  exceed the lesser of (i) Thirty Five Million Dollars ($35,000,000.00) and
  (ii) sixty percent (60%) of Borrower’s unrestricted cash plus net accounts
  receivable.

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  C. 

  	
   

  	
  Marketable
  securities that are immediately available for sale (but specifically
  excluding any auction rate securities other than an amount equal to fifty
  percent (50.0%) of the value of the Permitted Auction Rate Securities up to
  One Million Four Hundred Fifty Thousand Dollars ($1,450,000.00)) 

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  D.

  	
   

  	
  Quick
  Assets (the sum of lines A, B and C)

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  E.

  	
   

  	
  Aggregate
  value of obligations and liabilities of Borrower to Bank, including Letters
  of Credit

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  F.

  	
   

  	
  Quick
  Ratio (line D divided by line E)

  	
   

  	
  $

  	
   

  

 

Is
line F equal to or greater than 2:00: 1.00?

 

	
  o  No,
  not in compliance

  	
   

  	
  o  Yes,
  in compliance

  

 

II.            TANGIBLE NET WORTH (Section
6.7(b))

 

Required:               $                                  
(see Section 6.7(b))

 

Actual:                                                         $

 

Is
Tangible Net Worth at least
$                                    
(see Section 6.7(b))?

 

	
  o  No,
  not in compliance

  	
   

  	
  o  Yes,
  in complianceEXHIBIT 10.1

 

EXECUTIVE TRANSITION AGREEMENT

 

This agreement (the “Agreement”),
dated as of the Effective Date specified below and executed and delivered by
the Parties on August 2, 2010 (the “Execution Date”), is by and between
CIBER, Inc. (the “Company”) and Mac J. Slingerlend (the “Executive”).  The Company and Executive shall be referred
to collectively as the “Parties” and individually as a “Party.”

 

Recitals

 

1.             Executive has been employed
by the Company and its predecessors 
since on or about January 1, 1989.

 

2.             Executive and the Company
have agreed that Executive’s employment relationship with the Company shall end  and desire to provide for a transition period during which
the terms and conditions of the current employment relationship shall be modified.

 

3.             Accordingly, Executive and
the Company have entered into this Agreement to set forth the terms and
conditions of their relationship on and after the Effective Date.

 

Agreement

 

In
consideration of the following obligations, the Parties agree as follows.

 

1.             Effective Date and
Separation Date.   The “Effective
Date” shall mean April 11, 2010. 
Effective as of the Effective Date, Executive shall be deemed to have
retired and/or resigned from all positions with the Company and all affiliates
thereof, including without limitation, offices, committee memberships and Board
membership, if any, other than the position of “president emeritus” as provided
herein.  On April 12, 2010, the
Company announced (i) Executive’s retirement from the positions of President
and Chief Executive Officer and his resignation as a member of the board of
directors (and any committee thereof) of the Company, and (ii) Executive’s
appointment to the honorary position of “president emeritus.”  The Company may announce the terms of this
Agreement when and as it deems appropriate. Notwithstanding the foregoing,
Executive shall remain employed by the Company through the expiration of the
Transition Period on the terms and conditions provided herein; provided that
Executive’s employment is not earlier terminated for Cause, as defined
below.  The final date of Executive’s
employment (for any reason) shall be referred to herein as the “Separation
Date.”  As of the Separation Date,
Executive shall be deemed to have resigned from Executive’s then current
position as an employee of the Company (and any other position Employee may
then hold with the Company and any of its affiliates, if any).

 

 

2.             Transition Period.

 

(a)           Transition Period Defined.  Provided that Executive is not earlier terminated
for Cause, the Company will continue to employ Executive, and Executive agrees
to continue in the employ of the Company on the terms and subject to the
conditions of this Agreement, for the period commencing on the Effective Date
and ending on December 31, 2010 (the “Transition Period”).

 

(b)           Position and Duties During
Transition.  During the
Transition Period:  (A) Executive
shall serve as “president emeritus,” or in such other position as may be
reasonably designated by the Company, with such duties, authorities and
responsibilities as may reasonably be assigned to Executive by the Company, and
shall report to Paul Jacobs; and (B) Executive’s services shall primarily
be performed in Greenwood Village, Colorado, although Executive agrees to
travel to the extent reasonably necessary to perform the duties contemplated by
this Agreement.  During the Transition
Period, Executive agrees to devote sufficient time and attention during normal
business hours to the business and affairs of the Company as reasonably
directed or specified by the Company, and, to the extent necessary to discharge
Executive’s responsibilities hereunder, to use Executive’s reasonable best
efforts to perform such responsibilities in accordance with this Agreement,
Company policies and applicable law.  It
is expressly agreed that Executive’s position with the Company during the
Transition Period shall be as an employee of the Company, but not as an officer
of any kind of the Company, and that Executive’s title as “president emeritus”
does not imply that Executive is, nor does it create any right in Executive to
be, an officer of the Company.

 

(c)            Payments and Benefits During
Transition.

 

(i)            Base Salary.  During the Transition Period, Executive shall
receive a base salary (“Base Salary”) payable in cash at the gross rate of
$650,000 per year.  The Base Salary shall
be payable in installments, less legally required and Executive directed
withholdings, consistent with the Company’s payroll procedures in effect from
time to time, provided that such installments shall be no less frequent than
monthly.

 

(ii)           Savings and Retirement Plans.  During the Transition Period, Executive shall
be entitled to participate in all savings and retirement plans, practices,
policies and programs, in each case on the terms and conditions made available
to employees of the Company generally. 
Vesting of any Company contributions to Executive’s 401(k) Plan
account shall be in accordance with the terms of the Company’s 401(k) Plan,
as amended.

 

(iii)          Welfare Benefit Plans.  During the Transition Period, Executive and
Executive’s spouse and dependents, as the case may be, shall be eligible for
participation in and shall receive all benefits under welfare benefit plans,
practices, policies and programs provided by the Company and its affiliates
(including, without limitation, medical, prescription, dental, disability,
employee life, group life, accidental death and travel accident insurance plans
and programs) on the terms and conditions made available to employees of the
Company generally, or, if materially

 

2

 

better benefits are made
available to the Company’s officers, then on the terms and conditions made
available to the officers of the Company generally.

 

(iv)          Miscellaneous. Subject to
Executive’s compliance with his obligations hereunder, during the Transition
Period, the Company shall:

 

(A)          forward Executive’s personal
mail (i.e. non-Company related mail) to Executive in his absence;

 

(B)           permit Executive to continue
to use his Company issued Blackberry and pay the reasonable fees and expenses
related to such use, including the reasonable fees and expenses related to
Executive’s use of the mobile phone feature of such device with the telephone
number xxx-xxx-xxxx, and a cellular phone with the number xxx-xxx-xxxx (and
following the expiration of the Transition Period the Company shall transfer
and assign the Blackberry only to Executive);

 

(C)           provide Executive with an
office in the Denver Tech Center;

 

(D)          retain Executive’s current
office phone line as a dedicated phone line for Executive, which shall be
forwarded to the office location in paragraph 2(c)(iv)(C) above or as
otherwise directed by Executive;

 

(E)           permit Executive to continue
his use of his Company e-mail account; and

 

(F)           reimburse Executive for
reasonable expenses incurred by Executive on behalf of the Company;

 

(G)           make an employee of the
Company available (at the Company’s premises or use the services existing at
the office referred to in paragraph 2(c)(iv)(C) above at the Company’s
expense) to provide reasonable secretarial support to Executive in connection
with any of the foregoing.

 

3.             Payments and Benefits Upon
Separation of Employment.

 

(a)           Salary Through Separation
Date.  Executive’s base salary  as defined in Section 2(c)(i) earned through the
Separation Date to the extent not already paid as of the Separation Date will
be paid to Executive on the first regularly scheduled date for payment of
employee salaries following the Separation Date in accordance with the Company’s
then current payroll practices.

 

(b)           Bonus.  Provided Executive’s employment is not
terminated for Cause, as defined below, and so long as Executive complies with
the terms and provisions of the RC Section, and conditioned upon Executive’s
execution and delivery to the Company (and, if applicable, non-revocation) of a
legal release in the form attached hereto as Exhibit A (the “Post-Separation
Release”) within 21 days following the Separation Date (collectively, the “Conditions”),
in consideration of Executive’s work

 

3

 

before the Separation Date
during 2010, the Company shall pay Executive a bonus of $310,525 (which
represents 50% of the estimated maximum bonus Executive could have earned for
2010) less any outstanding advances taken by the Executive against his
anticipated 2010 bonus payments and any legally required withholdings.  Subject to the foregoing conditions, this
payment shall be made on or prior to the later of (i) five (5) business
days after the Company’s auditors have signed off on the Company’s 2010 audit,
but no later than March 15, 2011, or (ii) eight (8) business
days following the later of (A) Executive’s execution of the attached
legal release or (B) expiration of any applicable non-revocation period.

 

(c)           Lump-sum Payment.  Provided the Conditions are satisfied, the
Company shall pay to Executive a one-time, lump sum payment in an amount equal
to $2,542,100 (which is equal to (A) two multiplied by (B) Executive’s
base salary of $650,000 plus $621,050 (Executive’s estimated maximum possible
bonus payment for 2010)), less legally required withholdings.  This payment shall be made on or prior to the
later of (i) five (5) business days after the Company’s auditors have
signed off on the Company’s 2010 audit, but no later than March 15, 2011,
or (ii) eight (8) business days following the later of (A) Executive’s
execution of the attached legal release or (B) expiration of any
applicable non-revocation period.

 

(d)           Salary Continuation Plan.  Effective as of the date hereof, the Company
shall terminate the Company’s Salary Continuation Retirement Plan for Executive
(the “Salary Continuation Plan”) and, provided that the Conditions are
satisfied, the Company shall pay Executive a lump sum of $2,718,000, which
payment shall be in lieu of any and all rights Executive may have under the
Salary Continuation Plan, and Executive hereby agrees to the termination of the
Salary Continuation Plan and relinquishment and cancellation of all such rights
in exchange for the Company’s agreement pursuant hereto to pay such lump sum
amount subject to the satisfaction the Conditions as of the date of such
payment.  This payment shall be made as
soon as practicable following the closing of the Company’s bank financing in
2011, but in no event (i) prior to the date that is 12 months and 1 day
following the date of termination of the Salary Continuation Plan, or (ii) later
than September 30, 2011.

 

(e)           Options, Restricted Stock
Units and Long-Term Incentive Compensation.

 

(i)            Options and Restricted Stock
Units. Exhibit B sets forth a list of all outstanding options
and restricted stock units held by Executive. 
All outstanding options held by Executive that have an exercise price of
$5.86 or more, are hereby terminated and canceled, and such options are
identified on Exhibit B as being “canceled.”  Provided the Conditions are met, the Company shall
cause the unvested portion of the options and restricted stock units granted to
Executive by the Company and identified on Exhibit B as being “accelerated”
to be fully vested.  Notwithstanding
anything to the contrary in the Company’s option plans or in any option
agreement between Executive and the Company, each outstanding and vested option
of Executive (including any option that may become vested by virtue of the
preceding sentence) shall be exercisable by Executive at any time prior to its
original expiration date as set

 

4

 

forth on Exhibit B irrespective of the
termination of Executive’s employment with the Company.

 

(ii)           Long Term Incentive Plans. Except as
provided in clause (i) of this Section 3(e), following the Effective
Date, Executive shall not be eligible to receive any further awards under any
of the Company’s Long-Term Incentive Plans.

 

(f)            Insurance.

 

(i)            Continuation of Current
Medical Insurance.

 

(A)          Executive’s current benefit
elections and coverage (including with respect to Executive’s spouse) shall
continue through the Separation Date.  If
Executive timely elects to participate in the COBRA program by completing and
returning the required paperwork to the Company or the Company’s administrator,
as applicable, and provided the Conditions are satisfied, then the Company will
pay COBRA premiums for medical and dental insurance (“COBRA Payments”) on
behalf of Executive directly to the COBRA insurance carrier(s) for a
period of up to 18 months following the Separation Date (“COBRA Benefit
Termination Date”).  Executive’s right to
have COBRA Payments made on Executive’s behalf shall terminate as of the
earlier of the date on which Executive becomes eligible for substantially
similar welfare benefits under another employer’s group benefit plans or the
COBRA Benefit Termination Date. 
Executive shall promptly notify the Company in writing if other
employment is secured or if Executive is covered by another employer’s group
benefit plan prior to the COBRA Benefit Termination Date.

 

(ii)           Medical Insurance Following
Expiration of COBRA.

 

(A)          Provided the Conditions are
satisfied, if the Executive has timely elected to participate in the COBRA
program and exhausted such benefits in accordance with Section f(i), and
Executive or Executive’s spouse, as applicable, is not eligible for welfare
benefits under another employer’s group benefit plans, following the COBRA
Benefit Termination Date and for a period of 18 months thereafter (the “Company
Coverage Period”), the Company shall pay the premiums for Executive’s and/or
Executive’s Spouse’s (as applicable) medical, dental and vision insurance under
insurance plans offered by the Company to its employees, or if no such
self-insured plan exists and no fully insured plan or plans will cover
Executive or Executive’s spouse, under plans offering similar coverage to such
plans and reasonably acceptable to the Company and Executive, provided that in
no event shall the aggregate amount of such premiums exceed $1,000 per month.

 

(B)           Provided the Conditions are
satisfied, and subject to applicable law and any rules, limitations or
requirements of or imposed by the Company’s insurance carriers, for a period of
10 years following the later of the Separation Date or the date on which the
Company is no longer paying the premiums for Executive’s and/or Executive’s
Spouse’s (as applicable) medical, dental and vision

 

5

 

insurance under insurance
plans offered by the Company to its employees either pursuant to Section 3(f)(i)(A) or
3(f)(ii)(A), Executive and his spouse shall be permitted by the Company to
maintain medical, dental and vision insurance under the Company’s medical,
dental and vision insurance plans, if any, at Executive’s sole cost and
expense.

 

(iii)          Life Insurance.  Provided the Conditions are satisfied, the
Company shall keep the life insurance policies listed on Exhibit C-1
hereto in full force and effect during the Transition Period, pay all premiums
for such policies for calendar year 2010, and, following the Separation Date,
transfer and assign all such policies to Executive.  Promptly after the date hereof, the Company
shall cancel the life insurance policy listed on Exhibit C-2-A
hereto and shall retain 100% of the cash surrender value received by the
insurance company in connection therewith. 
Promptly after the date hereof, the Company shall effectuate a cash
withdrawal and retain such withdrawn amount in respect of the life insurance
policy listed on Exhibit C-2-B hereto in an amount equal to the
Withdrawn Cash Amount, and thereafter the Company shall transfer and assign
such policy to Executive.  The “Withdrawn
Cash Amount” shall equal the cash surrender value of the life insurance policy
listed on Exhibit C-2-B  minus an amount equal to 10% times
the sum of the cash surrender values of the life insurance policies listed on Exhibit C-2-A
and Exhibit C-2-B hereto.

 

(iv)          Long-Term Care Insurance.  Provided the Conditions are satisfied, the
Company shall pre-pay in full the premiums for the long-term care insurance
policies listed on Exhibit D hereto and within ten (10) days
after the execution of this Agreement assign such policies to Executive and
Executive’s spouse, as applicable.

 

(g)           Miscellaneous.  Upon execution of this Agreement, Executive
shall surrender to the Company the Company’s United Airlines — Global Services
level status card currently held in Executive’s name.  Provided the Conditions are satisfied, the
Company shall:

 

(i)            UAL Pass. Subject to
any applicable law, rules or regulations, including any rules or
regulations of United Airlines, transfer and assign to Executive the UAL Pass
Plus currently held by the Company in Executive’s name.

 

(ii)           Memberships.  Subject to any applicable law, rules or
regulations, including any rules or regulations of the applicable golf
club or country club, transfer and assign to Executive any ownership interest
the Company may have in Executive’s membership to the Castle Pines Golf Club
and the Glenmoor Country Club, and shall pay all membership fees or dues
relating to such memberships for calendar year 2010.

 

(iii)          Computers. Executive
shall allow a third party contractor chosen by the Company to delete all
Confidential Information (as defined below) from the desktop computer currently
located at Executive’s residence, the desktop computer currently located at
Executive’s second home, and the lap-top or portable computer 

 

6

 

currently utilized by
Executive, or, in lieu thereof, Executive may provide the Company with written
certification that he has deleted all such Confidential Information, and
thereafter, the Company shall transfer and assign such devices to Executive.

 

(iv)          Positive Reference.  Permit Executive to request positive
references from the Paul Jacobs, Chairman of the Board of Directors, with
respect to his performance as an employee of the Company.

 

(v)           Legal Fees.  Pay the legal fees of Krendl Krendl Sachnoff &
Way incurred by Executive in connection with the negotiation of this Agreement,
up to a maximum amount of $40,000.

 

(vi)          Indemnification for Promissory
Note.  Indemnify and hold harmless
Executive from payment of principal and accrued but unpaid interest in respect
of Executive’s existing promissory note dated February 28, 2005 having a
stated interest rate of 2.09%, a copy of which has been previously provided to
the Company, in the event that such promissory note is not cancelled.

 

4.             Termination of Employment.

 

(a)           Death.  Executive’s employment shall terminate
automatically upon Executive’s death during the Transition Period.  In the Event of Executive’s death during the
Transition Period, all amounts payable hereunder to Executive shall be
thereafter payable to Executive’s heirs and assigns, as and when such amounts
would have been paid in the absence of Executive’s death.

 

(b)           Cause.  If Executive’s employment is terminated for
Cause, as defined below, or Executive voluntarily terminates Executive’s
employment during the Transition Period, the Company shall be required to pay
to Executive only Executive’s Base Salary through the date of termination  to the extent theretofore unpaid.

 

For purposes of this
Agreement, “Cause” shall mean:

 

(i)            the willful engaging by
Executive in illegal conduct or gross misconduct which is materially and
demonstrably injurious to the Company; or

 

(ii)           a violation of any term or
provision of the RC Section by Executive; or

 

(iii)          a willful violation of any
regulatory requirement, or of any material Company policy or procedure
(including the Company’s Insider Trading Policy and Related Party Transactions
Policy).

 

(c)           Relief of Duties.  The Company shall not terminate Executive’s
employment without Cause at any time between the Effective Date and the
Separation Date; provided that at any time the Company shall have the right to
relieve Executive of any obligation to report for work, and the Company shall
have no obligation to assign

 

7

 

duties and responsibilities
to Executive, so long as in doing so the Company does not reduce or otherwise
affect Executive’s economic rights pursuant to this Agreement.

 

5.            Taxes.  If any taxes, interest or penalties are
assessed against the Company in connection with any payment made or
consideration provided pursuant to this Agreement, or based on any failure to
withhold any sum from any payment made pursuant to this Agreement, the Company
shall give notice to Executive.  Upon
receiving that notice, Executive shall either pay to the Company the total
amount of the assessment, including all taxes, interest and penalties owed, or
defend against the assessment, at Executive’s sole expense (excluding penalties
arising from the Company’s failure to withhold).  If any assessment is imposed on the Company,
Executive shall immediately reimburse the Company for all taxes, interest or
penalties paid by the Company (excluding penalties arising from the Company’s
failure to withhold).  The Company shall
not be obligated to contest the validity of any such assessment or to reimburse
Executive for any amounts, including costs and attorneys’ fees, that Executive
incurs in contesting the assessment.  In
the event that Executive contests such assessment, the Company shall cooperate
with Executive in the manner set forth in Section 11 hereto.  Notwithstanding any other provision of this
Agreement, this Agreement shall not be construed so as to impose on Executive
any duty to pay, or to reimburse the Company for, tax liabilities imposed on
the Company by law, such as the Company’s obligation to pay its share of FICA
for certain payments made to Executive under this Agreement.

 

6.            No Other Severance or Change
of Control Benefits. 
Notwithstanding any other provision of this Agreement, Executive shall
not be entitled to receive any payments or benefits under any severance or
change of control plan, program or agreement or any similar plan, program or
agreement other than those that are described and anticipated under this
Agreement.

 

7.             Restrictive Covenants.

 

(a)           Executive acknowledges that
Executive’s employment by the Company creates a relationship of confidence and
trust between Executive and the Company with respect to the Company, its
business and any and all confidential and proprietary information applicable to
the business of the Company, its clients and its affairs.  Executive further acknowledges the highly competitive
nature of the business of the Company. 
Accordingly, it is agreed that the restrictions contained in this
section concerning Restrictive Covenants (the “RC Section”) are reasonable and
necessary for the protection of the interests of the Company and that any
violation of these restrictions would cause substantial and irreparable injury
to the Company.

 

(b)            Protection of Confidential
Information.

 

(i)            Definition of “Confidential
Information.” “Confidential Information” means all nonpublic
information  (whether in paper or
electronic form, or contained in Executive’s memory, or otherwise stored or
recorded) relating to or arising from the Company’s business, including,
without limitation, trade secrets used,

 

8

 

developed or acquired by the
Company in connection with its business. 
Without limiting the generality of the foregoing, “Confidential
Information” shall specifically include all information concerning the manner
and details of the Company’s operation, organization and management; financial
information and/or documents and nonpublic policies, procedures and other
printed, written or electronic material generated or used in connection with
the Company’s business; the Company’s business plans and strategies; the
identities of the Company’s customers and the specific individual customer
representatives with whom the Company works; the details of the Company’s
relationship with such customers and customer representatives; the identities
of distributors, contractors and vendors utilized in the Company’s business;
the details of the Company’s relationships with such distributors, contractors
and vendors; the nature of fees and charges made to the Company’s customers;
nonpublic forms, contracts and other documents used in the Company’s business;
all information concerning the Company’s employees, agents and contractors,
including without limitation such persons’ compensation, benefits, skills,
abilities, experience, knowledge and shortcomings, if any; the nature and
content of computer software used in the Company’s business, whether
proprietary to the Company or used by the Company under license from a third
party; and all other information concerning the Company’s concepts, prospects,
customers, employees, agents, contractors, earnings, products, services,
equipment, systems, and/or prospective and executed contracts and other
business arrangements.  “Confidential
Information” does not include information that is in the public domain through
no wrongful act on the part of Executive.

 

(ii)           Executive’s Use of Confidential
Information.  Except in
connection with and in furtherance of Executive’s work on the Company’s behalf,
Executive shall not, without the Company’s prior written consent, at any time,
directly or indirectly: (i) use any Confidential Information for any
purpose; or (ii) disclose or otherwise communicate any Confidential
Information to any person or entity.

 

(iii)          Records Containing Confidential
Information.  “Confidential
Records” means all documents and other records, whether in paper, electronic or
other form, that contain or reflect any Confidential Information.  All Confidential Records prepared by or
provided to Executive are and shall remain the Company’s property.  Except in connection with and in furtherance
of Executive’s work on the Company’s behalf or with the Company’s prior written
consent, Executive shall not, at any time, directly or indirectly: (i) copy
or use any Confidential Record for any purpose; or (ii) show, give, sell,
disclose or otherwise communicate any Confidential Record or the contents of
any Confidential Record to any person or entity.  Upon the termination of Executive’s
employment with the Company, or upon Company’s request, Executive shall
immediately deliver to Company or its designee (and shall not keep in Executive’s
possession or deliver to any other person or entity) all Confidential Records
and all other Company property in Executive’s possession or control.  Upon reasonable request of the Company,
Executive shall provide the Company with reasonable access to any computer or
other device used at any time by Executive, for the sole purpose of deleting
from such device all Confidential Information and Confidential Records or to
determine whether such Confidential Information and Confidential Records have
been properly deleted from such device in accordance herewith.

 

9

 

(c)            Non-Compete; Non-Solicit and Non-Interference.  For a period of
18 months following the Effective Date, Executive shall not (nor, with respect
to clauses (ii) through (iv) below, shall Executive cause or
encourage anyone else to):

 

(i)              Work as an employee or
independent contractor for, serve as a director of, or become an investor in or
lender to, any Competitive Business; provided, that an investment by Executive
of up to 2% of the outstanding equity of any publicly traded corporation shall
not constitute a violation of this section;

 

(ii)             Solicit, directly or
indirectly on behalf of Executive or a Competitive Business, any client of the
Company for purposes of selling, licensing, leasing, renting or supplying any
product or service that is competitive with any product or service of the
Company;

 

(iii)            Directly or indirectly
divert or attempt to divert from the Company or any affiliate of the Company
any business from the Company or any affiliate of the Company, or request,
recommend or advise that any client cease or curtail doing business with the
Company, or any affiliate of the Company and any of its clients or potential
clients; or

 

(iv)          Acquire, attempt to acquire,
or take any action in furtherance of acquiring, or assist, cooperate with, hold
discussions with or otherwise encourage any person in acquiring, attempting to
acquire or taking any action in furtherance of acquiring, directly or
indirectly, control (as defined in Rule 12b-2 of the Securities Exchange
Act of 1934 and the rules promulgated thereunder) of the Company, any
equity interest in the Company (other than upon exercise of Executive’s
options), or any rights with respect to the management of the Company
(including any position on the Company’s board of directors), or otherwise
influence or attempt to influence the management or direction of the Company
(other than any receipt by Executive of an inquiry by a third party that (A) has
been disclosed by Executive to the Company prior to the date hereof, (B) was
dismissed by Executive immediately upon receipt prior to the date hereof or (C) if
received after the date hereof, is promptly referred to the Company’s Chairman
of the Board).

 

(d)            Commencing on the date
hereof and through the period ending 18 months following the Separation Date, Executive
shall not (nor shall Executive cause or encourage anyone else to) (i) employ
or otherwise engage, or solicit for employment or attempt to employ or
otherwise engage, directly or indirectly, in or on behalf of any Competitive
Business, any person who is employed by or engaged as a consultant or
independent contractor of the Company unless such person is no longer employed
by the Company or engaged by the Company as a consultant or independent
contractor or (ii) solicit, recommend or advise any person who is employed
by or engaged as a consultant or independent contractor of the Company as of
the Effective Date to terminate their employment or engagement with the Company
for any reason.

 

(e)            For the purposes of this RC
Section: “Competitive Business” means any business that provides any product or
service that is competitive with or

 

10

 

similar to any product or
service provided by the Company; “affiliate” means any corporation,
partnership, limited liability company, trust, or other entity which controls,
is controlled by or is under common control with the Company; and “client”
includes any individual, governmental authority, corporation, partnership,
limited liability company, trust, or other entity to whom, to the Executive’s
knowledge, the Company has made one or more sales during the 12 month period
immediately preceding the date hereof.

 

(f)             If any court shall determine
that the duration, geographic limitations, subject or scope of any restriction
contained in this RC Section is unenforceable, it is the intention of the
Parties that this RC Section shall not thereby be terminated but shall be
deemed amended to the extent required to make it valid and enforceable, such
amendment to apply only with respect to the operation of this RC Section in
the jurisdiction of the court that has made the adjudication.

 

(g)            Executive acknowledges that
the restrictive covenants of this RC Section are reasonable and that
irreparable injury will result to the Company and to its business and
properties in the event of any breach by Executive of any of those covenants,
and that Executive’s continued employment is predicated on the commitments
undertaken by Executive pursuant to this RC Section.  In the event any of the covenants of this RC Section are
breached, the Company shall be entitled, in addition to any other remedies and
damages available, to injunctive relief to restrain the violation of such
covenants by Executive or by any person or persons acting for or with Executive
in any capacity whatsoever; and Executive shall forfeit his rights under Section 3
of this Agreement, including the right to any amounts payable pursuant thereto
that remain unpaid.

 

(h)            If Executive desires to
consult with, serve on the board of, or acquire any equity interest in any
Competitive Business during the 18 month period following the Effective Date,
Executive may request in advance that the Company consent to such relationship
and the Company shall consent to such relationship if the Company determines in
its reasonable discretion that such relationship will not be detrimental to the
Company. In the event the Company approves such a relationship, that
relationship, as and only to the extent so approved, shall not constitute a
violation or breach of this RC Section.

 

8.             Successors.

 

(a)            This Agreement is personal
to Executive and without the prior written consent of the Company shall not be
assignable by Executive otherwise than by will or the laws of descent and
distribution.  This Agreement shall inure
to the benefit of and be enforceable by Executive’s legal representatives.

 

(b)            This Agreement shall inure
to the benefit of and be binding upon the Company and its successors and
assigns.

 

(c)            The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of

 

11

 

the business and/or assets
of the Company to assume expressly, and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor to its
business and/or assets as aforesaid which assumes and agrees to perform this
Agreement by operation of law, or otherwise.

 

9.             Prior Agreements.

 

(a)           Except as otherwise provided
in this section, all other agreements between Executive and the Company shall
be deemed terminated hereby and superseded by this Agreement, and shall
hereafter be of no further force or effect; provided, however, that this
provision shall not be deemed to eliminate the Company’s obligation to
indemnify Executive for claims made against or losses incurred by Executive
arising out of the performance of, or as a result or his position as, an
officer or director of the Company under any such agreement or the Company’s
certificate of incorporation or bylaws.

 

(b)           Notwithstanding any other
provision of this Agreement, this Agreement shall not be deemed to limit,
release, impair or otherwise affect, in any way, Executive’s rights to
indemnification and/or defense that Executive had in connection with Executive’s
employment with the Company, whether pursuant to any certificate of
incorporation, bylaw, policy, insurance contract, or otherwise.

 

(C)           Except as modified or
contemplated to be modified hereby, the options and restricted stock unit
awards granted to Executive by the Company, and the agreements related thereto,
shall remain in full force and effect without change.

 

10.           Assistance Following Separation Date.  Executive agrees, during the 12-month period
following the Separation Date, to remain reasonably available to respond to
reasonable requests for information and assistance on an as-needed,
as-requested basis; provided that the Company shall exercise reasonable good
faith efforts to limit the extent to which its requests for such information
and assistance interfere with Executive’s personal and business commitments;
and provided further that Executive shall exercise reasonable, good faith
efforts to respond to the Company’s requests for such information and
assistance in a timely and complete fashion; provided further that the Company
shall reimburse Executive for any reasonable expenses (but shall not pay
Executive for Executive’s time following the Separation Date) that are approved
in advance and incurred by Executive in connection with the performance of such
assistance, and, provided further that if Executive is required to spend more
than forty (40) hours during the twelve-month period following the Separation
Date in the performance of such assistance, the Company shall provide Executive
with reasonable hourly compensation for any such hours in excess of such forty
(40) hour threshold.

 

11.           Cooperation in Proceedings.  The Company and Executive agree that they
shall fully cooperate with respect to any claim, litigation or judicial,
arbitral or investigative proceeding initiated by any private party or by any
regulator, governmental

 

12

 

entity, or self-regulatory
organization, that relates to or arises from any matter with which Executive
was involved during Executive’s employment with the Company, or that concerns
any matter of which Executive has information or knowledge (collectively, a “Proceeding”).  Executive’s duty of cooperation includes, but
is not limited to:  (i) meeting with
the Company’s attorneys by telephone or in person at mutually convenient times
and places in order to state truthfully Executive’s recollection of events;
(ii) appearing at the Company’s request as a witness at depositions or
trials, without the necessity of a subpoena, in order to state truthfully
Executive’s knowledge of matters at issue; and (iii) signing at the
Company’s request declarations or affidavits that truthfully state matters of
fact of which Executive has personal knowledge obtained during the course of
Executive’s relationship with the Company. 
The Company’s duty of cooperation includes, but is not limited to
providing Executive and Executive’s counsel access to documents, information,
witnesses and the Company’s legal counsel as is reasonably necessary to
litigate on behalf of Executive in any Proceeding.   In addition, Executive agrees to promptly
notify the Company’s General Counsel of any requests for information or
testimony that Executive receives in connection with any litigation or
investigation relating to the Company’s business, and the Company agrees to
notify Executive of any requests for information or testimony that it receives
relating to Executive.  Notwithstanding
any other provision of this Agreement, this Agreement shall not be construed or
applied so as to require any Party to violate any confidentiality agreement or
understanding with any third party, nor shall it be construed or applied so as
to compel any Party to take any action, or omit to take any action, requested
or directed by any regulatory or law enforcement authority.  The Company shall exercise reasonable good
faith efforts to minimize the extent to which its requests for cooperation
pursuant to this section conflict with Executive’s prior professional and
personal commitments, and shall reimburse Executive for the expenses that
Executive reasonably and necessarily incurs in honoring Executive’s duty of
cooperation under this section, provided that Executive has secured the Company’s
prior consent to incur such expenses. 
The Company shall not be required to compensate Executive for the first
forty (40) hours spent by Executive in the performance of such assistance, but
thereafter, the Company shall provide Executive with reasonable hourly
compensation for any such hours in excess of such forty (40) hour threshold.

 

12.        Legal Releases.

 

(a)           Executive, on behalf of
Executive and Executive’s heirs, personal representatives and assigns, and any
other person or entity that could or might act on behalf of Executive,
including, without limitation, Executive’s counsel (all of whom are collectively
referred to as “Executive Releasers”), hereby fully and forever releases and
discharges the Company, its present and future affiliates and subsidiaries, and
each of their past, present and future officers, directors, employees,
shareholders, independent contractors, attorneys, insurers and any and all
other persons or entities that are now or may become liable to any Releaser due
to any Releasee’s act or omission, (all of whom are collectively referred to as
“Executive Releasees”) of and from any and all actions, causes of action,
claims, demands, costs and expenses, including attorneys’ fees, of every kind
and nature whatsoever, in law or in equity, whether now known or unknown, that
Executive Releasers, or any person acting under any of them, may now have, or

 

13

 

claim
at any future time to have, based in whole or in part upon any act or omission
occurring on or before the Execution Date, without regard to present actual
knowledge of such acts or omissions, including specifically, but not by way of
limitation, matters which may arise at common law, such as breach of contract,
express or implied, promissory estoppel, wrongful discharge, tortious
interference with contractual rights, infliction of emotional distress,
defamation, or under federal, state or local laws, such as the Fair Labor
Standards Act, the Employee Retirement Income Security Act, the National Labor
Relations Act, Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, the Rehabilitation Act of 1973, the Equal Pay
Act, the Americans with Disabilities Act, the Family and Medical Leave Act, and
any civil rights law of any state or other governmental body; PROVIDED, HOWEVER, that notwithstanding the foregoing or
anything else contained in this Agreement, the release set forth in this Section shall
not extend to:  (i) any rights
arising under this Agreement; or (ii) any vested rights under any pension,
retirement, profit sharing or similar plan; or (iii) Executive’s rights,
if any, to indemnification, and/or defense under any Company certificate of
incorporation, bylaw and/or policy or procedure, or under any insurance
contract, in connection with Executive’s acts an omissions within the course
and scope of Executive’s employment with the Company.  Executive hereby warrants that Executive has
not assigned or transferred to any person any portion of any claim which is
released, waived and discharged above. 
Executive further states and agrees that Executive has not experienced
any illness, injury, or disability that is compensable or recoverable under the
worker’s compensation laws of any state that was not reported to the Company by
Executive before the Execution Date, and Executive agrees not to not file a
worker’s compensation claim asserting the existence of any such previously
undisclosed illness, injury, or disability. 
Executive has specifically consulted with counsel with respect to the
agreements, representations, and declarations set forth in the previous sentence.  Executive understands and agrees that by
signing this Agreement Executive is giving up any right to bring any legal
claim against the Company concerning, directly or indirectly, Executive’s
employment relationship with the Company, including Executive’s separation from
employment.  Executive agrees that this
legal release is intended to be interpreted in the broadest possible manner in
favor of the Company, to include all actual or potential legal claims that Executive
may have against the Company, except as specifically provided otherwise in this
Agreement.

 

(b)           The Company, for itself, its
affiliates, and any other person or entity that could or might act on behalf of
it including, without limitation, its 
officers, directors and attorneys (all of whom are collectively referred
to as “Company Releasers”), hereby fully and forever release and discharge
Executive, Executive’s heirs, representatives, assigns, attorneys, and any and
all other persons or entities that are now or may become liable to any Company
Releaser on account of Executive’s employment with the Company or separation
therefrom (all of whom are collectively referred to as “Company Releasees”) of
and from any and all actions, causes of action, claims, demands, costs and
expenses, including attorneys’ fees, of every kind and nature whatsoever, in
law or in equity, whether now known or unknown, that the Company Releasers, or
any person acting under any of them, may now have, or claim at any future time
to have, based in whole or in part upon any act or omission relating to
Employee’s employment with the Company or separation therefrom, without regard
to

 

14

 

present
actual knowledge of such acts or omissions; PROVIDED, HOWEVER,
that notwithstanding the foregoing or anything else contained in this
Agreement, the release set forth in this Section shall not extend to:  (i) any rights arising under this
Agreement; or (ii) a breach of fiduciary duty or other misconduct relating
to Executive’s employment with the Company that renders Executive ineligible
for indemnification by the Company under applicable law; or (iii) any
claim or claims that the Company may have against Executive as of the Execution
Date of which the Company is not aware as of the Execution Date because of
willful concealment by Executive.    The
Company understands and agrees that by signing this Agreement, it is giving up
its right to bring any legal claim against Executive concerning, directly or
indirectly, Executive’s employment relationship with the Company through the
Execution Date.  The Company agrees that
this legal release is intended to be interpreted in the broadest possible
manner in favor of Executive, to include all actual or potential legal claims
that the Company may have against Executive relating to Employee’s employment
with the Company or separation therefrom, except as specifically provided
otherwise in this Agreement.

 

(c)           In order to provide a full
and complete release, each of the Parties understands and agrees that this
Agreement is intended to include all claims, if any, covered under this section
entitled “Legal Releases” (“LR Section”) that such Party may have and not now
know or suspect to exist in Executive’s or its favor against any other Party
and that this Agreement extinguishes such claims.  Thus, each of the Parties expressly waives
all rights under any statute or common law principle in any jurisdiction that
provides, in effect, that a general release does not extend to claims which the
releasing party does not know or suspect to exist in Executive’s favor at the
time of executing the release, which if known by Executive must have materially
affected Executive’s settlement with the party being released.   Notwithstanding any other provision of this
LR Section, however, nothing in this LR Section is intended or shall be
construed to limit or otherwise affect in any way Executive’s rights under this
Agreement.

 

(d)           Executive agrees and
acknowledges that Executive: (i) understands the language used in this
Agreement and the Agreement’s legal effect; (ii) will receive compensation
under this Agreement to which Executive would not have been entitled without
signing this Agreement; (iii) has been advised by the Company to consult
with an attorney before signing this Agreement; and (iv) will be given up
to twenty one (21) calendar days to consider whether to sign this
Agreement.  For a period of seven days
after the Execution Date, Executive may, in Executive’s sole discretion,
rescind this Agreement, by delivering a written notice of rescission to Paul
Hilton or Paul Jacobs.  If Executive
rescinds this Agreement within seven calendar days after the Execution Date,
this Agreement shall be void, all actions taken pursuant to this Agreement
shall be reversed, and neither this Agreement nor the fact of or circumstances
surrounding its execution shall be admissible for any purpose whatsoever in any
proceeding between the Parties, except in connection with a claim or defense
involving the validity or effective rescission of this Agreement.  If Executive does not rescind this Agreement
within seven calendar days after the Execution Date, this Agreement shall
become final and binding and shall be irrevocable.

 

15

 

(e)           Notwithstanding anything to
the contrary contained herein or in the Post-Separation Release, if the Company
shall fail to make any payment required by Section 3(b), (c), (d) or
(g)(vi) other than as a result of the failure of the Conditions, then the
release provided by Executive and the Company pursuant to this LR Section and/or
the Post-Separation Release, shall be null and void, and of no further force
and effect.

 

13.           Additional Representation and Covenant.  Executive represents and warrants that as of
the Effective Date, Executive is unaware of any facts or circumstances relating
to the Company’s business that Executive believes suggest or support a claim of
wrongdoing or illegal conduct of any kind by the Company or any employee,
officer or director thereof, except as previously disclosed to the Company by
Executive in writing.  Executive
covenants that, to the extent permitted by law, following the Effective Date
Executive will not take any action, or encourage any other person to take any
action with the intent of, calculated or known to Executive to likely to result
in the initiation or an inquiry, investigation or other action concerning the
Company by any federal, state or local governmental body or agency, and that
were Executive to do so Executive would commit a material breach and default
under this Agreement, for which the Company would be entitled to all remedies
available to the Company pursuant to applicable law, including specific
performance of this covenant.

 

14.          Consequences of Not Timely
Made Payment.  If the
Company fails to make a payment to Executive when due under this Agreement on a
timely basis, and provided that Executive is not in breach of this Agreement,
the Company shall pay to Executive, in addition to such overdue payment, an
additional amount equal to 1% of such overdue payment for each month thereafter
until any such overdue payment is paid in full.

 

15.          Miscellaneous.

 

(a)            Notwithstanding anything
herein to the contrary, this Agreement is intended to be interpreted and
operated so that the payments and benefits set forth herein shall be either
exempt from the requirements of Section 409A of the Internal Revenue Code
or shall comply with the requirements of such provision.  To the extent consistent with applicable
laws, rules and regulations, as reasonably determined by the Company and
its advisors, the Company shall (i) prepare and file its income tax
returns in a manner consistent with the foregoing sentence, except as may be
adjusted by subsequent agreement or by tax authority audit or by court
decision; and (ii) not take any other actions that would result in any of
the payments to be made hereunder to fail to be exempt from Code Section 409A
pursuant to the provisions of Reg. 1-409A-3(j)(4)(ix)(C).  To the extent that the Company takes any
action contrary to the foregoing sentence and as a result of such action, any
of the payments to Executive under this Agreement become subject to the
provisions of Code Section 409A(d)(1)(B), the Company agrees to reimburse,
on an after-tax basis, Executive for any additional taxes, penalties or
interest with respect to such payments.

 

(b)            This Agreement shall be
governed by and construed in accordance with the laws of the State of Colorado
without reference to principles of conflict of laws.

 

16

 

The captions of this
Agreement are not part of the provisions hereof and shall have no force or
effect.  This Agreement may not be
amended or modified otherwise than by a written agreement executed by the Parties
hereto or their respective successors and legal representatives.

 

(c)            All notices and other
communications hereunder shall be in writing and shall be given by hand
delivery to the other Party or by registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

 

	
  If
  to Executive:

  	
  At the most recent address
  on file at the Company,

  
	
   

  	
  cc: Cathy S. Krendl

  
	
   

  	
  Krendl Krendl
  Sachnoff & Way, P.C.

  
	
   

  	
  370 17th Street,
  Suite 5350

  
	
   

  	
  Denver, CO   80202

  
	
   

  	
   

  
	
  If
  to the Company:

  	
  CIBER, Inc.

  
	
   

  	
  6363 South Fiddler’s Green
  Circle, Suite 1400

  
	
   

  	
  Greenwood Village,
  Colorado 80111

  
	
   

  	
  Attn.: General Counsel

  
	
   

  	
   

  
	
   

  	
  cc: Paul Hilton

  
	
   

  	
  Hogan Lovells US LLP

  
	
   

  	
  1200 17th Street,
  Suite 1500

  
	
   

  	
  Denver, CO   80202

  

 

or to such other address as
either Party shall have furnished to the other in writing in accordance
herewith, Notice and communications shall be effective when actually received
by the addressee.

 

(d)            The invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement.

 

(e)            All payments made by the
Company under this Agreement will be subject to legally required tax and other
withholdings.

 

(f)             Executive’s or the Company’s
failure to insist upon strict compliance with any provision of this Agreement
or the failure to assert any right Executive or the Company may have hereunder,
shall not be deemed to be a waiver of such provision or right or any other
provision or right of this Agreement.

 

(g)            All covenants and warranties
contained in this Agreement are contractual and shall survive the closing of
the Agreement.

 

(h)            In the event of any dispute
relating to or arising from this Agreement, the Party substantially prevailing
therein shall recover the costs and 

 

17

 

expenses that it incurred in connection with
the dispute, including reasonable attorneys’ fees.

 

(i)             All disputes relating to or
arising from this agreement shall be tried only in the state or federal courts
situated in the Denver, Colorado metropolitan area.

 

(j)             This Agreement may be
executed in counterparts, or by copies transmitted by facsimile, all of which
shall be given the same force and effect as the original.

 

[SIGNATURE
PAGE FOLLOWS]

 

18

 

IN WITNESS WHEREOF,
Executive has hereunto set Executive’s hand and the Company has caused these
presents to be executed in its name on its behalf, all as of the day and year
first above written.

 

 

	
  EXECUTIVE 

  	
   

  	
  CIBER, INC. 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Mac J. Slingerlend 

  	
   

  	
  By:

  	
  /s/ Paul A. Jacobs

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  August 2, 2010

  	
   

  	
  Date:

  	
  August 2, 2010

  

 

19

 

EXHIBIT A

 

Supplemental Legal Release

 

This
Supplemental Legal Release (“Supplemental
Release”) is between CIBER, Inc. (the “Company”) and Mac J. Slingerlend (“Executive”) (each a “Party,” and together, the “Parties”).

 

Recitals

 

A.            Executive and the Company
are parties to a Executive Transition Agreement
to which this Supplemental Release is appended as Exhibit A (the “Transition Agreement”).

 

B.            Executive wishes to receive
the benefits described in Section 3 of the Transition Agreement.

 

C.            Executive and the Company
wish to resolve, except as specifically set forth herein, all claims between
them arising from or relating to any act or omission predating the Final
Separation Date of [December 31, 2010].

 

Agreement

 

The
Parties agree as follows:

 

1.             Confirmation of
Section 3 Obligations.  The Company shall pay or provide to Executive
the payments and benefits, as, when and on the terms and conditions specified
in the Transition Agreement.

 

2.             Legal Releases

 

(a)           Executive, on behalf of
Executive and Executive’s heirs, personal representatives and assigns, and any
other person or entity that could or might act on behalf of Executive,
including, without limitation, Executive’s counsel (all of whom are
collectively referred to as “Executive Releasers”), hereby fully and forever
releases and discharges the Company, its present and future affiliates and
subsidiaries, and each of their past, present and future officers, directors,
employees, shareholders, independent contractors, attorneys, insurers and any
and all other persons or entities that are now or may become liable to any
Releaser due to any Releasee’s act or omission, (all of whom are collectively
referred to as “Executive Releasees”) of and from any and all actions, causes
of action, claims, demands, costs and expenses, including attorneys’ fees, of
every kind and nature whatsoever, in law or in equity, whether now known or
unknown, that Executive Releasers, or any person acting under any of them, may
now have, or claim at any future time to have, based in whole or in part upon
any act or omission occurring on or before the Final Separation Date, without
regard to present actual knowledge of such acts or omissions, including
specifically, but not by way of limitation, matters which may arise at common
law, such as breach of contract, express or implied, promissory estoppel,
wrongful discharge, tortious interference with contractual

 

 

rights, infliction of
emotional distress, defamation, or under federal, state or local laws, such as
the Fair Labor Standards Act, the Employee Retirement Income Security Act, the
National Labor Relations Act, Title VII of the Civil Rights Act of 1964, the
Age Discrimination in Employment Act, the Rehabilitation Act of 1973, the Equal
Pay Act, the Americans with Disabilities Act, the Family and Medical Leave Act,
and any civil rights law of any state or other governmental body; PROVIDED,
HOWEVER, that notwithstanding the foregoing or anything else contained in the
Transition Agreement or this Supplemental Release, the release set forth in
this Section shall not extend to: 
(i) any rights arising under the Transition Agreement; or; (ii) any
vested rights under any pension, retirement, profit sharing, option or
restricted stock plan or similar plan to the extent not modified or terminated
by the Transition Agreement; or (iii) Executive’s rights, if any, to
indemnification, and/or defense under any Company certificate of incorporation,
bylaw and/or policy or procedure, or under any insurance contract, in
connection with Executive’s acts an omissions within the course and scope of
Executive’s employment with the Company. 
Executive hereby warrants that Executive has not assigned or transferred
to any person any portion of any claim which is released, waived and discharged
above.  Executive further states and
agrees that Executive has not experienced any illness, injury, or disability
that is compensable or recoverable under the worker’s compensation laws of any
state that was not reported to the Company by Executive before the Final Separation
Date, and Executive agrees not to not file a worker’s compensation claim
asserting the existence of any such previously undisclosed illness, injury, or
disability.  Executive has specifically
consulted with counsel with respect to the agreements, representations, and
declarations set forth in the previous sentence.  Executive understands and agrees that by
signing this Supplemental Release Executive is giving up any right to bring any
legal claim against the Company concerning, directly or indirectly, Executive’s
employment relationship with the Company, including Executive’s separation from
employment, other than a claim for breach of the Transition Agreement.  Executive agrees that this legal release is
intended to be interpreted in the broadest possible manner in favor of the
Company, to include all actual or potential legal claims that Executive may
have against the Company, except as specifically provided otherwise in this
Supplemental Release.

 

(b)           The Company, for itself, its
affiliates, and any other person or entity that could or might act on behalf of
it including, without limitation, its officers, directors and attorneys (all of
whom are collectively referred to as “Company Releasers”), hereby fully and
forever release and discharge Executive, Executive’s heirs, representatives,
assigns, attorneys, and any and all other persons or entities that are now or
may become liable to any Company Releaser on account of Executive’s employment
with the Company or separation therefrom (all of whom are collectively referred
to as “Company Releasees”) of and from any and all actions, causes of action,
claims, demands, costs and expenses, including attorneys’ fees, of every kind
and nature whatsoever, in law or in equity, whether now known or unknown, that
the Company Releasers, or any person acting under any of them, may now have, or
claim at any future time to have, based in whole or in part upon any act or
omission relating to Employee’s employment with the Company or separation
therefrom, without regard to present actual knowledge of such acts or
omissions; PROVIDED, HOWEVER, that notwithstanding the foregoing or anything
else contained in the Transition Agreement or

 

 

this Supplemental Release,
the release set forth in this Section shall not extend to: (i) any
rights arising under the Transition Agreement; (ii) a breach of fiduciary
duty or other misconduct relating to Executive’s employment with the Company
that renders Executive ineligible for indemnification by the Company under
applicable law; or (iii) any claim or claims that the Company may have
against Executive as of the Final Separation Date of which the Company is not
aware as of the Final Separation Date because of willful concealment by
Executive.  The Company understands and
agrees that by signing this Supplemental Release, it is giving up its right to
bring any legal claim against Executive concerning, directly or indirectly,
Executive’s employment relationship with the Company. The Company agrees that
this legal release is intended to be interpreted in the broadest possible
manner in favor of Executive, to include all actual or potential legal claims
that the Company may have against Executive relating to Employee’s employment
with the Company or separation therefrom, except as specifically provided
otherwise in this Supplemental Release.

 

(c)           In order to provide a full
and complete release, each of the Parties understands and agrees that this
Supplemental Release is intended to include all claims, if any, covered under
this Section 2 that such Party may have and not now know or suspect to
exist in Executive’s or its favor against any other Party and that this
Supplemental Release extinguishes such claims. 
Thus, each of the Parties expressly waives all rights under any statute
or common law principle in any jurisdiction that provides, in effect, that a
general release does not extend to claims which the releasing party does not
know or suspect to exist in Executive’s favor at the time of executing the
release, which if known by Executive must have materially affected Executive’s
settlement with the party being released.  
Notwithstanding any other provision of this Section 2, however,
nothing in this Section 2 is intended or shall be construed to limit or
otherwise affect in any way Executive’s rights under the Transition Agreement.

 

(d)           Executive agrees and
acknowledges that Executive: (i) understands the language used in the
Transition Agreement and in this Supplemental Release and the legal effect
thereof; (ii) will receive compensation under the Transition Agreement in
connection with Executive’s execution and delivery of this Supplemental Release
to which Executive would not have been entitled without signing this
Supplemental Release; (iii) has been advised by the Company to consult
with an attorney before signing this Supplemental Release; and (iv) will
be given up to twenty one (21) calendar days to consider whether to sign this
Supplemental Release.  For a period of
seven days after the date the Executive executes and delivers this Supplemental
Release to the Company, Executive may, in Executive’s sole discretion, rescind
this Supplemental Release, by delivering a written notice of rescission to Paul
Hilton or Paul Jacobs.  If Executive
rescinds this Supplemental Release within seven calendar days after such date,
this Supplemental Release shall be void, all actions taken pursuant to this
Supplemental Release shall be reversed, and neither this Supplemental Release
nor the fact of or circumstances surrounding its execution shall be admissible
for any purpose whatsoever in any proceeding between the Parties, except in
connection with a claim or defense involving the validity or effective
rescission of this Supplemental Release. 
If Executive does not rescind this Supplemental Release within seven
calendar days after the day Executive signs this Supplemental Release, 

 

 

this Supplemental Release
shall become final and binding and shall be irrevocable, subject to the
provisions of clause (e) of the LR Section of the Transition
Agreement.

 

3.       Executive acknowledges that
Executive has received all compensation to which Executive is entitled for
Executive’s work up to Executive’s last day of employment with the Company, and
that Executive is not entitled to any further pay or benefit of any kind, for
services rendered or any other reason, other than the payments and benefits, to
the extent not already paid, described in Section 3 of the Transition
Agreement.

 

4.       Executive agrees that the
only thing of value that Executive will receive by signing this Supplemental
Release is the payments and benefits described in Section 3 of the
Transition Agreement.

 

5.       The Parties agree that their
respective rights and obligations under the Transition Agreement shall survive
the execution of this Supplemental Release.

 

[SIGNATURES FOLLOW]

 

 

NOTE:  DO NOT SIGN THIS
SUPPLEMENTAL LEGAL RELEASE UNTIL AFTER EXECUTIVE’S FINAL DAY OF EMPLOYMENT.

 

 

	
  EXECUTIVE 

  	
   

  	
  CIBER, INC. 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 

EXHIBIT B

 

OPTIONS
AND RESTRICTED STOCK UNITS

 

	
   

  	
   

  	
  OPTIONS

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Option

  Award #

  	
   

  	
  #
  of Shares

  Granted

  	
   

  	
  #
  of Shares

  Vested as of

  the Date of

  the

  Agreement

  	
   

  	
  Additional

  Shares to

  Vest upon

  Satisfaction

  of Conditions

  	
   

  	
  Expiration

  Date

  	
   

  	
  Exercise

  Price

  	
   

  	
  Action
  to be

  taken pursuant to

  Agreement

  	
   

  
	
  22746

  	
   

  	
  200,000

  	
   

  	
  200,000

  	
   

  	
  —

  	
   

  	
  2/21/2017

  	
   

  	
  $

  	
  7.2000

  	
   

  	
  CANCELED

  	
   

  
	
  21659

  	
   

  	
  200,000

  	
   

  	
  200,000

  	
   

  	
  —

  	
   

  	
  2/23/2016

  	
   

  	
  $

  	
  5.8600

  	
   

  	
  CANCELED

  	
   

  
	
  20123

  	
   

  	
  400,000

  	
   

  	
  400,000

  	
   

  	
  —

  	
   

  	
  3/30/2015

  	
   

  	
  $

  	
  7.1800

  	
   

  	
  CANCELED

  	
   

  
	
  20125

  	
   

  	
  200,000

  	
   

  	
  200,000

  	
   

  	
  —

  	
   

  	
  3/30/2015

  	
   

  	
  $

  	
  7.1800

  	
   

  	
  CANCELED

  	
   

  
	
  19748

  	
   

  	
  25,000

  	
   

  	
  25,000

  	
   

  	
  —

  	
   

  	
  12/20/2014

  	
   

  	
  $

  	
  9.4000

  	
   

  	
  CANCELED

  	
   

  
	
  19318

  	
   

  	
  12,000

  	
   

  	
  12,000

  	
   

  	
  —

  	
   

  	
  11/4/2014

  	
   

  	
  $

  	
  8.9200

  	
   

  	
  CANCELED

  	
   

  
	
  18436

  	
   

  	
  20,000

  	
   

  	
  20,000

  	
   

  	
  —

  	
   

  	
  6/9/2014

  	
   

  	
  $

  	
  8.7800

  	
   

  	
  CANCELED

  	
   

  
	
  25897

  	
   

  	
  69,600

  	
   

  	
  23,200

  	
   

  	
  46,400

  	
   

  	
  3/3/2014

  	
   

  	
  $

  	
  2.1500

  	
   

  	
  ACCELERATED*

  	
   

  
	
  16504

  	
   

  	
  15,000

  	
   

  	
  15,000

  	
   

  	
  —

  	
   

  	
  5/29/2013

  	
   

  	
  $

  	
  6.0000

  	
   

  	
  CANCELED

  	
   

  
	
  24882

  	
   

  	
  125,000

  	
   

  	
  83,334

  	
   

  	
  —

  	
   

  	
  4/29/2013

  	
   

  	
  $

  	
  6.0000

  	
   

  	
  CANCELED

  	
   

  
	
  15452

  	
   

  	
  200,000

  	
   

  	
  200,000

  	
   

  	
  —

  	
   

  	
  12/20/2012

  	
   

  	
  $

  	
  5.4500

  	
   

  	
   

  	
   

  
	
  15019

  	
   

  	
  100,000

  	
   

  	
  100,000

  	
   

  	
  —

  	
   

  	
  7/29/2012

  	
   

  	
  $

  	
  5.0200

  	
   

  	
   

  	
   

  
	
  14483

  	
   

  	
  100,000

  	
   

  	
  100,000

  	
   

  	
  —

  	
   

  	
  1/22/2012

  	
   

  	
  $

  	
  10.1800

  	
   

  	
  CANCELED

  	
   

  
	
  12214

  	
   

  	
  20,000

  	
   

  	
  20,000

  	
   

  	
  —

  	
   

  	
  1/9/2011

  	
   

  	
  $

  	
  4.6250

  	
   

  	
   

  	
   

  
	
  12215

  	
   

  	
  10,000

  	
   

  	
  10,000

  	
   

  	
  —

  	
   

  	
  1/9/2011

  	
   

  	
  $

  	
  4.6250

  	
   

  	
   

  	
   

  
	
  12233

  	
   

  	
  570,000

  	
   

  	
  570,000

  	
   

  	
  —

  	
   

  	
  1/9/2011

  	
   

  	
  $

  	
  4.6250

  	
   

  	
   

  	
   

  
	
  2010 LTIP

  	
   

  	
  118,800

  	
   

  	
  —

  	
   

  	
  118,800

  	
   

  	
  2/1/2015

  	
   

  	
  $

  	
  3.2300

  	
   

  	
  ACCELERATED*

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Restricted Stock Units

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Award #

  	
   

  	
  Remaining

  Unvested

  Shares

  	
   

  	
  Original Per

  Share Cost

  to CIBER

  	
   

  	
  Additional

  Shares to

  Vest upon

  Satisfaction

  of Conditions

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Action To Be

  Taken Pursuant

  to Agreement

  	
   

  
	
  24639

  	
   

  	
  16,000

  	
   

  	
  $

  	
  4.91

  	
   

  	
  16,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  ACCELERATED*

  	
   

  
	
  24889

  	
   

  	
  10,416

  	
   

  	
  $

  	
  6.00

  	
   

  	
  10,416

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  ACCELERATED*

  	
   

  
	
  25006

  	
   

  	
  16,000

  	
   

  	
  $

  	
  2.11

  	
   

  	
  16,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  ACCELERATED*

  	
   

  
	
  25947

  	
   

  	
  15,466

  	
   

  	
  $

  	
  2.15

  	
   

  	
  15,466

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  ACCELERATED*

  	
   

  
	
  2010 LTIP

  	
   

  	
  39,600

  	
   

  	
  $

  	
  3.23

  	
   

  	
  39,600

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  ACCELERATED*

  	
   

  
	
   

  	
   

  	
  97,482

  	
   

  	
   

  	
   

  	
  97,482

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

* Subject to satisfaction of
the Conditions.

 

 

EXHIBIT C-1

 

TRANSFERRED
LIFE INSURANCE

 

	
  John Hancock

  	
  Policy No.

  	
  Term Life

  	
   

  	
   

  
	
  John Hancock

  	
  Policy No.

  	
  Term Life

  	
   

  	
   

  
	
  John Hancock

  	
  Policy No.

  	
  Term Life

  	
   

  	
   

  
	
  John Hancock

  	
  Policy No.

  	
  Term Life

  	
   

  	
   

  
	
  John Hancock

  	
  Policy No.

  	
  Term Life

  	
   

  	
   

  

 

 

EXHIBIT C-2

 

OTHER
LIFE INSURANCE

 

A.            Cancelled
Policy

 

	
  Pac Life

  	
  Policy No.

  	
  Split Dollar

  

 

B.            Transferred
Policy Following Cash Withdrawal

 

	
  ING

  	
  Policy No.

  	
  Whole Life

  

 

 

EXHIBIT D

 

LONG-TERM
CARE INSURANCE

 

	
  John Hancock

  	
  Policy No.

  
	
  Lincoln Benefit Life

  	
  Policy No.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]