Document:

ex101to8k04637_12312007.htm

    Exhibit
      10.1

    

    FALCONSTOR
      SOFTWARE, INC. EMPLOYMENT AGREEMENT

    Employee:
      ReiJane Huai

    

    EMPLOYMENT
      AGREEMENT made this 31st day of December, 2007 (hereinafter referred to as
      this
      "Employment Agreement"), by FalconStor Software, Inc., a Delaware corporation
      (hereinafter referred to as the "Corporation"), and ReiJane Huai with an address
      at REDACTED (hereinafter referred to as the "Employee").

    WHEREAS,
      the Employee desires to continue to be employed by the Corporation as President
      and Chief Executive Officer (“CEO”), and the Corporation desires that the
      Employee continue to be so employed, upon the terms and conditions
      hereinafter set forth.

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants and
      agreements hereinafter set forth, the parties intending to be legally bound,
      agree as follows:

    1.
      Term of Employment. The Board hereby employs the Employee as President
      and CEO, and the Employee hereby agrees to serve the Corporation in such
      capacity for the period commencing on January 1, 2008 (the "Effective Date")
      and
      ending on December 31, 2010 (hereinafter referred to as the "Employment
      Period"), unless sooner terminated as hereinafter provided.

    2.
      Scope of Duties. The Employee shall serve as a President and CEO. The
      Employee shall report and be solely responsible to the Board of Directors of
      the
      Corporation (the “Board”). The Employee's performance shall be reviewed by the
      Board annually.

    3.
      Time To Be Devoted to Employment. The Employee shall, except during
      vacation  periods or absences due to temporary illness, devote
      substantially all of his professional and business time, attention and energies
      to his duties and responsibilities hereunder, and except for
      business trips which shall be necessary or desirable in the Corporation's
      business, shall render such services at the principal office of the Corporation.
      Nothing herein contained or in Section 10 hereof shall prevent or be construed
      as preventing the Employee from holding or purchasing five (5%) percent or
      less
      of any class of stock or securities of a corporation which is listed
      on a national securities exchange or regularly
      traded in the over-the-counter market, or making other investments or
      participating in business ventures not in competition with the business of
      the
      Corporation, as long as such investments and business ventures shall not require
      any time during normal business hours and do not conflict with his duties or
      obligations to the Corporation as provided in this Employment
      Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.
      Direct Compensation. (a) In consideration for services rendered and to be
      rendered by the Employee hereunder during the Employment Period, the Employee
      shall receive a salary for each calendar year of the Employment Period as set
      forth below, or such greater amount as the Board shall determine from year
      to
      year based on the Employee’s performance (the “Base Salary”), which shall be
      paid semi-monthly in arrears or at such other intervals as other employees
      are
      paid:

     

    
      	
              Calendar
                Year

            	
              Salary

            
	
              2008

            	
              $310,000

            
	
              2009

            	
              $341,000

            
	
              2010

            	
              $375,100

            

    

    

    (b)
      The
      Employee shall be entitled to receive a bonus (the “Bonus”) for each calendar
      year of the Employment Period in an amount equal to four percent (4%) of the
      Corporation’s net operating income for such period as determined by reference to
      the Corporation’s income statements, but without giving effect to (i) Statement
      of Financial Accounting Standard 123R, or (ii) such other extraordinary,
      non-recurring and/or other unusual items as determined by the Compensation
      Committee of the Corporation’s Board of Directors and agreed by a majority of
      the independent directors of the Corporation’s Board of Directors (hereinafter
      referred to as the “Operating Income”), provided that the Operating Income for
      the particular calendar year exceeds the Operating Income for the previous
      calendar year.  The Bonus shall be paid in shares of Restricted Stock
      of the Corporation issued in accordance with the terms of the 2006 FalconStor
      Software, Inc., Incentive Stock Plan, including Section 6
      thereof.  The Restricted Stock shall vest thirty three percent (33%)
      on January 1 of each of the first two years following the issuance of the
      Restricted Stock and thirty four percent (34%) on January 1 of the third year
      following the issuance of the Restricted Stock.  The number of shares
      of Restricted Stock to be issued shall be determined by dividing the Bonus
      amount by the average price of Corporation common stock on the Nasdaq Global
      Market (or any market on which the Corporation’s common stock is subsequently
      registered) for the calendar year for which the Bonus is being paid (the “Bonus
      Formula”).  For purposes of this Employment Agreement, the average
      price shall be the average of the daily closing prices of the Corporation common
      stock.  The Employee shall not be entitled to any fractional
      shares.  In the event the Bonus Formula results in a fractional
      number, the number of Restricted Shares to be paid shall be rounded down to
      the
      nearest whole number. The Bonus shall be paid within seventy five (75) days
      of
      the end of the applicable calendar year.

    5.
      Fringe Benefits. (a) The Employee shall be entitled to participate in any
      and all fringe benefits and/or plans, generally afforded to other employees
      of
      the Corporation (to the extent the Employee otherwise qualifies under the
      specific terms and conditions of each such benefit), including, without
      limitation, group disability, life insurance, medical insurance and pension
      plans (401K)
      which are, or which may become available generally to senior personnel of the
      Corporation. The Employee shall be entitled to vacation time during each year
      of
      the Employment Period at the discretion of the Board.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (b)
      If
      the Corporation has a group disability plan in force at the time the Employee’s
      employment terminates, the Corporation shall offer the Employee the opportunity
      to continue disability coverage at the Employee’s own expense for such period as
      the Employee desires; provided, that the Employee shall be required to make
      all
      insurance premium contributions.

    (c)
      Upon
      termination of the Employee’s employment, the Corporation shall offer the
      Employee the opportunity to continue the Employee’s health insurance coverage in
      effect immediately prior to such termination or health insurance coverage
      generally available at such time to executives of the Corporation, at the
      Employee’s own expense, for such period as the Employee desires; provided, that
      the Employee shall be required to make all insurance premium
      contributions.

    6.
      Termination of Employment. During the Employment Period, the Employee's
      employment may be terminated by the Board on the
      occurrence of any one or more of the following events:

    (a)
      The
      death of the Employee;

    (b)
      For
      "Cause", which shall mean (i) the willful failure by the Employee to
      substantially perform his duties hereunder (including the breach of any
      provision of Section 9 and/or 10 hereof), for reasons other than death or
      disability; (ii) the willful engaging by the Employee in misconduct materially
      injurious to the Corporation; or (iii) the commission by the Employee of an
      act
      constituting (A) common law fraud against the Corporation or (B) a felony;
      or

    (c)
      If
      the Employee is unable substantially to perform the Employee’s duties and
      responsibilities hereunder to the full extent required by the Board by reason
      of
      illness, injury or incapacity for three consecutive months, or for more than
      four months in the aggregate during any period of twelve calendar months (such
      condition constituting “disability” for the purposes of this Employment
      Agreement); provided, however, that the Corporation shall continue to pay the
      Employee’s then current Base Salary until the Corporation acts to terminate the
      Employee. The Employee agrees, in the event of a dispute under this Section
      6(c), to submit to a physical examination by a licensed physician selected
      by
      the Board and consented to by the Employee.

    7.
      Death Benefit. In addition to all other insurance and similar death
      benefits generally made available to employees of the Corporation, if the
      Employee's death occurs during the term of the Employment Period,
      the Corporation shall provide a death benefit to the estate of the Employee
      equal to the Employee's then current annual Base Salary at the
      date of death. Such death benefit shall be payable as may be determined by
      the
      Corporation, but not less often than six (6) equal monthly installments, payable
      on the last day of each month, commencing in the month subsequent to the month
      in which the death occurs.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    8.
      Severance Payment. (a) If the Corporation and the Employee do not enter
      into a renewal agreement to be effective January 1, 2011, for a period of at
      least two years and containing similar terms and conditions to those set forth
      herein, then the Corporation will pay the Employee, as additional compensation,
      an amount equal to the Employee's then current annual Base Salary, as determined
      under Section 4(a), payable semi-monthly in arrears for the
      twelve  months ending December 31, 2011 such compensation is
      hereinafter referred to as the "Severance Payment".

    
      (b)
        Notwithstanding the provisions of Section 8 (a) above, the Employee will
        not
        receive the Severance Payment if,

      (i)
        the
        Corporation declines to enter into a renewal agreement with the Employee
        because
        the Employee breached the confidentiality and/or non-compete provisions of
        this
        Employment Agreement or any other material terms or conditions of his
        employment;

      (ii)
        the
        Employee has been terminated for Cause hereunder;

      (iii)
        the
        Employee declines to enter into a renewal agreement with the Corporation,
        and
        the Corporation has offered a renewal agreement for a period of
        not less than two years, containing similar terms and conditions as
        discussed herein; or

      (iv)
        the
        Employee has received a change of control payment from the Corporation that
        provides change of control benefits that are at least equal to the amount
        that
        would be received by the Employee pursuant to Section 8(a) above.

      (c)
        If
        the Employee’s employment is terminated for Cause, the Corporation’s sole
        obligation hereunder shall be to pay the Employee (i) any accrued and unpaid
        Base Salary as of the date of termination, (ii) an amount equal to such
        reasonable and necessary business expenses incurred by the Employee in
        connection with the Employee’s employment on behalf of the Corporation on or
        prior to the date of termination, but not previously paid to the Employee,
        and
        (iii) if the basis for such termination arises under clause (i) of the
        definition of “Cause,” his base Salary (at the rate in effect on the date of
        termination) through the twelve–month anniversary of the date of termination in
        accordance with the normal payroll practices of the Corporation with respect
        to
        Base Salary.

    

    (d)
      If at
      the time his employment is terminated the Employee is a “specified employee”
within the meaning of Section 409A of the Internal Revenue Code and the
      regulations thereunder, to the extent required to comply with Section 409A,
      payment of the Severance Payment and the Non-Renewal Severance, as applicable,
      shall not commence until one day after the day which is six months following
      the
      termination date, with the first payment equaling six months of Base
      Salary.  Reimbursements pursuant to this Section 8 shall be made
      on or before the last day of the Employee’s taxable year following the taxable
      year in which the expense was incurred.

     

    
      
        
        

      

      
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          9.
            Disclosure of Information. All memoranda, notes,
records or other documents made or compiled
            by the Employee or made
            available to him during the term of his employment concerning
            the business of the Corporation shall be the Corporation's property and
            shall be
            delivered to the Corporation on the termination of the Employee's employment.
            The Employee shall not use for himself or others, or divulge to others,
            any
            proprietary or confidential information of the Corporation, obtained
            by him as a
            result of his employment, unless authorized by the Corporation.  For
            purposes of this Section 9, the term "proprietary or confidential information"
            shall mean all information which is known only to the Employee or to
            the
            Employee and employees, former employees, consultants or others in a
            confidential relationship with the Corporation and relates to specific
            matters
            such as trade secrets, customers, potential customers and vendor lists,
            pricing
            and credit techniques, program codes, software design know-how, research
            and
            development activities, private processes, and books and records, as
            they may
            exist from time to time, which the Employee may have acquired or obtained
            by
            virtue of work heretofore or hereafter performed for or on behalf of
            the
            Corporation or which he may acquire or may have acquired knowledge of
            during the
            performance of said work, and which is not known to others, or readily
            available
            to others from sources other than the Employee or officers or other employees
            of
            the Corporation, or is not in the public domain. In the event of a breach
            or a
            threatened breach by the Employee of the provisions of this Section 9,
            the
            Corporation shall be entitled to an injunction restraining the
            Employee from disclosing, in whole or in part, the aforementioned proprietary
            or
            confidential information of the Corporation, or from rendering any services
            to
            any person, firm, corporation, association or other entity to whom such
            proprietary or confidential information, in whole or in part, has been
            disclosed
            or is threatened to be disclosed.  Nothing herein contained shall be
            construed as prohibiting the Corporation from pursuing any other remedies
            available to the Corporation for such breach or threatened breach, including
            the
            recovery of damages from the Employee.

        

      

    

    10.
      Restrictive Covenants. (a) The Employee hereby acknowledges and
      recognizes the highly competitive nature of the Corporation's business and
      accordingly agrees that, in consideration of the premises contained herein,
      he
      will not from and after the date hereof and during the Employment Period until
      the Designated Date (as hereinafter defined): (i) directly or indirectly engage
      in any Competitive Activity (as hereinafter defined), whether
      such engagement shall be as an officer, director, employee,
      consultant, agent, lender, stockholder, or other participant or (ii) assist
      others in engaging in Competitive Activity. As used herein, the term
      "Competitive Activity" shall mean and include the development and/or marketing
      of computer hardware and/or software for Storage Networking applications and
      other similar systems.

    
      
        
        

      

      
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    (b)
      As
      used in this Section 10, the "Designated Date" shall mean the
      following:

    (i)
      if
      the Employee terminates his employment with the Corporation prior to the
      expiration of the Employment Period (other than as a result of a breach by
      the
      Corporation of a material term or condition of this Employment Agreement),
      then
      the "Designated Date" shall mean the second (2nd) anniversary of the effective
      date of such termination;

    (ii)
      if
      the Corporation terminates the employment of the Employee under this Employment
      Agreement for Cause, then the "Designated Date" shall be the second (2nd)
      anniversary of the effective date of such termination;

    (iii)
      if
      the Corporation, during the Employment Period, terminates the
      employment of the Employee without Cause, then the "Designated Date" shall
      mean
      the effective date of such termination; or

    (iv)
      if
      the Corporation offers the Employee a renewal agreement pursuant to Section
      8(a)
      hereof and the Employee does not accept such agreement, then the "Designated
      Date" shall mean December 1, 2011.

    (c)
      It is
      the desire and intent of the parties that the provisions of this Section 10
      shall be enforced to the fullest extent permissible under the laws and public
      policies applied in each jurisdiction in which enforcement is
      sought.  Accordingly, if any particular provision of this Section 10
      shall be adjudicated to be invalid or unenforceable, such provision of this
      Section 10 shall be deemed amended to delete from the portion thus
      adjudicated to be invalid or unenforceable, such deletion to apply only with
      respect to the operation of such provisions of this Section 10 in the particular
      jurisdiction in which such adjudication is made and, further, only to the extent
      required in order for this Section 10 to be enforceable.

    (d)
      With
      respect to Inventions (including but not limited to software) made or conceived
      by the Employee, whether or not during the hours of his employment or with
      the
      use of the Corporation's facilities, materials or personnel, either solely
      or
      jointly with others during the Employee’s employment by the
      Corporation:

    (i)
      The
      Employee shall inform the Corporation promptly and fully of such Inventions
      by
      written report, setting forth in detail the procedures employed and the results
      achieved.  A report shall be submitted by the Employee upon completion
      of any studies or research projects undertaken on the Corporation's behalf
      whether or not in the Employee's opinion a given
      project has resulted in an Invention.

    (ii)
      The
      Employee shall apply, at the Corporation's request and expense, for the United
      States and/or foreign letters patent or other registrations either in the
      Employee's name or otherwise, as the Corporation shall desire.

    
      
        
        

      

      
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    (iii)
      The
      Employee hereby assigns and agrees to assign to the Corporation all of his
      right
      and interest to any and all such Inventions and to make applications for United
      States and/or foreign letters patent or other registrations granted upon such
      Invention.

    (iv)
      The
      Employee shall acknowledge and deliver promptly to the Corporation, without
      charge to the Corporation, but at its expense, such written instruments and
      do
      such other acts in support of his inventorship, as may be necessary in the
      opinion of the Corporation to obtain and maintain United States and/or foreign
      letters patent or other registration and to vest the entire right in such
      Inventions, patents and patent applications in the Corporation. The Employee
      agrees that if the Corporation is unable because of the Employee’s mental or
      physical incapacity or unavailability or for any other reason to secure the
      Employee’s signature to apply for or to pursue any application for any United
      States or foreign patents or copyright registrations covering Inventions
      assigned to the Corporation as above, the Employee hereby irrevocably designates
      and appoints the Corporation and its duly authorized officers and agents as
      the
      Employee’s agent and attorney in fact, to act for and in the Employee’s behalf
      and stead to execute and file any such applications and to do all other lawfully
      permitted acts to further the application for, prosecution, issuance,
      maintenance or transfer of letters patent or copyright registrations thereon
      with the same legal force and effect as if originally executed by the
      Employee.  The Employee hereby waives and irrevocably quitclaims to
      the Corporation any and all claims, of any nature whatsoever, which the Employee
      now or hereafter may have for infringement of any and all proprietary rights
      assigned to the Corporation.

    (v)
      The
      Corporation shall also have the royalty-free right to use in its business,
      and
      to make, use, and sell products and/or services derived from any Inventions,
      discoveries, concepts and ideas, whether or not patentable, including, but
      not
      limited to applications, methods, formulas and techniques, as well as
      improvements or know-how, whether or not within the scope of Inventions, but
      which are obtained, created or made by the Employee during the Employment
      Period, without payment of any additional compensation to the
      Employee.

    (vi)
      For
      the purposes of this Employment Agreement, "Inventions" means discoveries,
      concepts and ideas, whether patentable or not, including but not limited to
      processes, methods, formulas and techniques as well as improvements or
      know-how.

    (e)
      If
      there is a breach or threatened breach by the Employee of the provisions of
      this
      Section 10, the Corporation shall be entitled to an injunction restraining
      him
      from such breach.  Nothing herein contained shall be construed as
      prohibiting the Corporation from pursuing any other remedies available for
      such
      breach or threatened breach or any other breach of this Employment
      Agreement.

    
      
        
        

      

      
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    (f)
      The
      Employee hereby warrants and represents that he is not prohibited by any
      agreement or the order of any court from entering into and carrying out the
      terms of this Employment Agreement.  In particular, the Employee
      warrants and represents that the scope of his activity is not restricted in
      any
      way with respect to the design, development, enhancement, sale, marketing and/or
      promotion of computer software and hardware.

    11.
      (a)
Notices. All notices required or permitted to be given under the
      provisions of this Employment Agreement shall be in writing and delivered
      personally or by certified or registered mail, return receipt requested, postage
      prepaid to the following persons at the following addresses, or to such other
      person at such other address as either party may request by notice in writing
      to
      the other party to this Employment Agreement:

     

    If
      to the
      Employee:

    ReiJane
      Huai

    REDACTED

     

    If
      to the
      Corporation:

    FalconStor
      Software, Inc.

    2
      Huntington Quadrangle

    Suite
      2S01

    Melville,
      New York 11747

    Attn:  Chief
      Financial Officer

    

    (b)
      Construction. This Employment Agreement shall be construed in accordance
      with, and be governed by, the laws of the State of New York for contracts
      entered into and to be performed in New York.

    
      (c)
        Successor and Assigns. This Employment Agreement and the various rights
        and obligations arising hereunder shall inure to the benefit of and be binding
        upon the Employee and his heirs, executors and administrators and upon the
        Corporation and its successors (including, without limitation, by way of
        merger)
        and assigns.  This Employment Agreement is personal in nature and may
        not be assigned or transferred by the Employee without the prior written
        consent
        of the Corporation.

      (d)
        Entire Agreement; Amendment and Restatement. This instrument contains the
        entire understanding and agreement between the parties relating to the subject
        matter hereof, and neither this Employment Agreement nor any provision hereof
        may be waived, modified, amended, changed, discharged or terminated, except
        by
        an agreement in writing signed by the party against whom enforcement of any
        waiver, modification, change, amendment, discharge or termination is
        sought.

      (e)
        Counterparts. This Employment Agreement may be executed simultaneously in
        counterparts, each of which shall be deemed an original, and both of which
        counterparts shall together constitute a single agreement.

      (f)
        Illegality. Without limitation of Section 10(c)
        hereof, if any one or more of the provisions of this Employment Agreement
        shall
        be invalid, illegal or unenforceable in any respect, the validity, legality
        and
        enforceability of the remaining provisions contained herein shall not in
        any way
        be affected or impaired thereby.

      
        (g)
          Captions. The captions of the sections hereof are for convenience only
          and shall not control or affect the meaning or construction of any of the
          terms
          or provisions of this Employment Agreement.

      

      
        
                            

        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have set their hands and executed this
      Employment Agreement the day and year first above written.

    
      

      
        	 	
                FalconStor
                  Software, Inc.

              
	 	
                By:

              	
                
                  /s/
                    Jim Weber

                

              
	 	 	
                Jim
                  Weber

              
	 	 	
                Vice
                  President and Chief Financial Officer

              
	 	 
	 	 
	 	 
	 	
                By:

              	
                
                  /s/
                    ReiJane Huai

                

              
	 	 	
                ReiJane
                  Huai

              
	 	 

      

      
 

      
        
          
          

        

        
          8exhibit109.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.9

LICENSE AGREEMENT

This LICENSE AGREEMENT (“Agreement”) dated as of December 31, 2007 is entered into by and among Trian Fund Management, L.P., a
Delaware limited partnership (“Licensor”), Trian Acquisition I Corp., a Delaware corporation (“Trian Acquisition”), and Trian Acquisition I, LLC, a Delaware limited liability company (“Trian Acquisition LLC” and, together with Trian Acquisition, “Licensees”) (each of the Licensor and each Licensee a “Party” and collectively, the “Parties”). 

WHEREAS, Licensor is the owner of the service mark, corporate and trade name “Trian” and the logo associated therewith (the “Mark”); 

WHEREAS, Trian Acquisition is a newly-organized special purpose acquisition company formed for the purpose of effecting a business combination and Trian Acquisition LLC is a newly-formed limited
liability company formed for the purpose of investing in Trian Acquisition (such businesses, the “Licensee Businesses”); and 

WHEREAS, Licensees desire to use the Mark in connection with the operation of their businesses in the United States, and Licensor is willing to permit Licensees to use the Mark, subject to the terms
and conditions herein; 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
Parties hereto agree as follows: 

ARTICLE I

GRANT OF RIGHTS

Subject to the terms and conditions herein, Licensor hereby grants to Licensees a paid-up, non-exclusive, non-transferable right and license, in all of its right, title and interest, to use the Mark
in the United States in connection with the Licensee Businesses, solely as part of the entity names “Trian Acquisition I Corp.” and “Trian Acquisition I, LLC” as a whole (the “Corporate
Names”) and as a trade name or domain name. Licensees may not use the Mark standing alone, use any variation, derivative or stylization of the Corporate Names, or use the Mark in connection or combination with any
other name, term or logo (either of their own or a third party) other than as part of the Corporate Names. Licensor acknowledges that Licensees may make investments or have shareholders or members outside the United States, and any implied
“use” of the Corporate Names due to this fact shall not violate this Agreement, but is subject to Article VII. All rights not expressly granted to Licensees in this Article I are reserved to Licensor.

ARTICLE II

OWNERSHIP

The Parties agree that Licensor is the sole owner of the Mark. Licensees agree not to directly or indirectly challenge or contest the validity of, or Licensor’s rights in, the Mark (and the
associated goodwill), including without limitation, in connection with any third-party claim, allegation, action, demand, proceeding or suit regarding enforcement of this Agreement. The Parties intend that any and all goodwill in the Mark arising
from Licensees’ use of the Corporate Names shall inure solely to the benefit of the Licensor. Notwithstanding the foregoing, in the event that either Licensee is deemed to own any rights in the Mark (or the Mark’s portion of its Corporate
Name), such Licensee hereby assigns such rights to Licensor.

ARTICLE III

USE OF THE MARKS

Section 3.1. Licensees agree to maintain and preserve the quality of the Mark, and to use the Corporate Names in good faith and in a dignified manner, in a manner
consistent with Licensor’s high standards of and reputation for quality, and in accordance with good trademark practice wherever the Corporate Names are used. Licensees shall not take any action that could be detrimental to the Mark, the
Corporate Names or their associated goodwill. If Licensor decides in its sole discretion to register the Mark or the Corporate Names, Licensees agree to affix all such trademark notices as may be requested by Licensor or required under applicable
laws. 

Section 3.2. Upon request by Licensor, Licensees shall furnish to Licensor representative samples of all advertising and promotional materials in any media that are
used in connection with the Corporate Names. Licensees shall make any changes to such materials that Licensor requests to comply with Section 3.1, or to preserve the validity of, or
Licensor’s rights in, the Mark. 

Section 3.3. Licensees shall, at their sole expense, comply at all times with all applicable laws, regulations, stock exchange and other rules and reputable industry
practice pertaining to the Licensee Businesses and the use of the Corporate Names. 

ARTICLE IV

TERMINATION

Section 4.1. The term of this Agreement commences on the date hereof and continues until the earlier of (i) consummation by Trian Acquisition of a business combination
in accordance with the terms of its Registration Statement on Form S-1 (File No. 333-147094), as amended, or (ii) liquidation of Trian Acquisition in accordance with the terms of its certificate of incorporation, as amended and restated, in each
case, unless otherwise terminated pursuant to the other provisions of this Article IV. 

2

Section 4.2. If Licensor materially breaches one or more of its obligations hereunder, either Licensee may terminate this Agreement, effective upon written notice, if
Licensor does not cure such breach within 30 days of written notice thereof (or any mutually-agreed extension). If either Licensee materially breaches one or more of its obligations hereunder, Licensor may terminate this Agreement solely with
respect to the breaching Licensee, effective upon written notice, if such Licensee does not cure such breach within 30 days of written notice thereof (or any mutually-agreed extension). In addition, Licensor may terminate this Agreement solely with
respect to the breaching Licensee immediately, effective upon written notice, if either Licensee violates Article VII. 

Section 4.3. Licensor may terminate this Agreement with respect to either Licensee if an affiliate of Licensor is no longer a director, officer, key employee or
beneficial owner of in excess of 10% of the outstanding equity interests of such Licensee.

Section 4.4. Licensor has the right to terminate this Agreement with respect to either Licensee immediately upon written notice to such Licensee if (i) such Licensee
makes an assignment for the benefit of creditors, (ii) such Licensee admits in writing its inability to pay debts as they mature, (iii) a trustee or receiver is appointed for a substantial part of such Licensee’s assets or (iv) a proceeding in
bankruptcy is instituted against such Licensee which is acquiesced in, is not dismissed within 60 days, or results in an adjudication of bankruptcy. 

Section 4.5. If an event described in Article V occurs, Licensor shall have the right, in addition to its
other rights and remedies, to suspend a Licensee’s rights regarding the Corporate Names while such Licensee attempts to remedy the situation. 

Section 4.6. Upon termination of this Agreement for any reason, (i) Licensees shall immediately cease all use of the Corporate Names (except for limited transitional
use, for a period of 30 days if Licensor consents), (ii) the Parties shall cooperate so as to best preserve the value of the Corporate Names and (iii) Sections 6.4, 6.5, 6.6 and 6.7 shall survive any such event. 

ARTICLE V

INFRINGEMENT, PROTECTION AND QUALITY CONTROL

Section 5.1. Licensees agree to notify Licensor promptly after a Licensee becomes aware of any actual or threatened infringement, imitation, dilution, misappropriation
or other unauthorized use or conduct in derogation (“Infringement”) of the Mark. Licensor shall have the sole right to bring any action to remedy the foregoing (or to refrain from
taking any action in its sole discretion), and Licensees shall cooperate with Licensor in the same, at Licensor’s expense. 

Section 5.2. Licensees shall, at their expense, cooperate fully and in good faith with Licensor for the purpose of securing, preserving and protecting Licensor’s
rights in and to the Mark. At the request of Licensor, and at each Licensee’s expense, Licensees shall execute and deliver to Licensor any and all documents and do all other acts and things that Licensor deems necessary or appropriate to make
fully effective or to implement the provisions of this 

3

Agreement relating to the ownership, registration, maintenance or renewal of the Mark. Licensees hereby appoint Licensor and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact
with irrevocable power and authority in place and stead of Licensees and in the name of Licensees or in its own name, for the purposes of carrying out the terms of this Agreement with respect to the Mark. Licensor shall have sole control and
discretion over the prosecution and maintenance of the Mark and shall take or refrain from taking all actions it deems necessary and/or reasonable to protect the Mark. 

Section 5.3. Licensees acknowledge that all services provided under the Mark pursuant to the terms of this Agreement must be of sufficiently high quality to protect
the Mark and the goodwill symbolized thereby. In order to preserve the inherent value of the Mark, Licensees shall ensure that they maintain the quality of the Licensee Businesses and the operation thereof at least equal to the standards prevailing
in the operation of Licensor’s business and the Licensee Businesses as of the date of this Agreement. Licensees further agree to use the Mark in accordance with such quality standards as may be reasonably established by Licensor and
communicated to Licensees from time to time in writing, or as may be agreed to by Licensor and Licensees from time to time in writing. Licensees shall obtain Licensor’s prior written approval over the style and manner in which the Mark is used
and shall use the Mark only in a style and manner commensurate with the current standards and reputation for quality associated with the Mark. Upon Licensor’s request, Licensees shall submit to Licensor, for Licensor’s review, a
representative number of samples of materials used by Licensees bearing the Mark. If Licensor requests any modifications to such materials, Licensees shall make all such modifications specified by Licensor within a reasonable period of time
thereafter and shall provide Licensor with samples of such materials for Licensor’s review. Licensees agree not to register in any jurisdiction any trademark or service mark that could reasonably be deemed to resemble or be confusingly similar
to the Mark or that could reasonably be deemed to dilute the Mark, including without limitation any trademark or service mark that incorporates the Mark. 

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

Section 6.1. Licensor represents and warrants to Licensees that:

(a) This Agreement is a legal, valid and binding obligation of Licensor, enforceable against Licensor in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to the effect of general principles of equity (regardless of whether enforcement is considered in a proceeding at
law or in equity); 

(b) Licensor is not subject to any judgment, order, injunction, decree or award of any court, administrative agency or governmental body that would or might interfere with its performance of any of
its material obligations hereunder; and 

(c) Licensor has full power and authority to enter into and perform its obligations under this Agreement in accordance with its terms. 

4

Section 6.2. Each Licensee represents and warrants to Licensor that:

(a) This Agreement is a legal, valid and binding obligation of such Licensee, enforceable against such Licensee in accordance with its terms, subject to the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to the effect of general principles of equity (regardless of whether enforcement is considered in a
proceeding at law or in equity); 

(b) It is not subject to any judgment, order, injunction, decree or award of any court, administrative agency or governmental body that would or might interfere with its performance of any of its
material obligations hereunder; and 

(c) It has full power and authority to enter into and perform its obligations under this Agreement in accordance with its terms. 

Section 6.3. Except as expressly set forth in Section 6.4, Licensor makes no
representations or warranties, express or implied, with respect to this Agreement, the Mark or the Corporate Names, and expressly disclaims all such representations and warranties, including any with respect to title, non-infringement,
merchantability, value, reliability or fitness for use. Licensees’ use of the Mark and the Corporate Names is on an “as is” basis and is at Licensees’ own risk (i) outside the United States and (ii) except as expressly set forth
herein, within the United States. 

Section 6.4. Licensor will defend at Licensor’s expense, indemnify and hold harmless Licensees and their affiliates and respective directors, officers, employees,
agents and representatives (“Related Parties”) from any loss, liability, damage, award, settlement, judgment, fee, cost or expense (including reasonable attorneys’ fees and
costs of suit) (“Losses”) arising out of or relating to (i) any breach by Licensor of this Agreement or its warranties, representations, covenants and undertakings hereunder or
(ii) any third-party action against any Related Party that arises out of or relates to any claim that Licensees’ use of the Corporate Names as expressly authorized hereunder infringes the rights of a third party within the United States.

Section 6.5. Each Licensee will severally and not jointly defend at such Licensee’s expense, indemnify and hold harmless Licensor and its affiliates and their
respective Related Parties from any Losses arising out of or relating to any third-party action against any of them that arises out of or relates to (i) any breach by such Licensee of this Agreement or its warranties, representations, covenants and
undertakings hereunder; (ii) such Licensee’s operation of the Licensee Businesses; or (iii) any claim that such Licensee’s use of the Corporate Names, other than as explicitly authorized by this Agreement, infringes the rights of a third
party anywhere in the world. 

Section 6.6. The indemnified Party will promptly notify the indemnifying Party in writing of any indemnifiable claim and promptly tender its defense to the
indemnifying Party. Any delay in such notice will not relieve the indemnifying Party from its obligations to the extent it is not prejudiced thereby. The indemnified Party will cooperate with the indemnifying Party at the indemnifying Party’s
expense. The indemnifying Party may not settle any indemnified claim 

5

in a manner that adversely affects the indemnified Party without its consent (which shall not be unreasonably withheld or delayed). The indemnified Party may participate in its defense with counsel of its own choice at its own
expense. 

Section 6.7. No Party will be liable to another Party for special, indirect, consequential, exemplary, punitive or incidental damages (including lost profits
or goodwill, business interruption and the like) relating to this Agreement, even if it has been advised of the possibility of such damages. 

ARTICLE VII

ASSIGNMENTS

Licensees may not assign, sublicense, pledge, mortgage or otherwise encumber this Agreement or its right to use the Mark or the Corporate Names, in whole or in part, without the prior written consent
of Licensor in its sole discretion. For the avoidance of doubt, a change of control of a Licensee shall be deemed an “assignment” requiring such consent, regardless of whether such Licensee is the surviving entity. Pursuant to 11 U.S.
365(c)(1)(A) (as it may be amended from time to time, and including any successor to such provision), in the event of bankruptcy of a Licensee, this Agreement may not be assigned or assumed by such Licensee (or any successor thereto) and Licensor
shall be excused from rendering performance to, or accepting performance from, such Licensee or any successor thereto. Licensees acknowledge that their identity is a material condition that induced Licensor to enter into this Agreement. Any
attempted action in violation of the foregoing shall be null and void ab initio and of no force or effect, and shall result in immediate termination of this Agreement. For purposes of this agreement, the term “change of control” means the
occurrence of any of the following: (i) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of a Licensee, taken as a whole, to any Person other than, in the case of Trian Acquisition
LLC, an affiliate of Licensor; or (ii) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”), or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1)
under the Exchange Act), other than Licensor and its affiliates, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of
Rule 13d-3 under the Exchange Act, or any successor provision) of 50% or more of the total voting power of the voting capital interests of a Licensee. For purposes of this Agreement, the term “Person” means any individual, corporation, partnership, joint venture, limited liability company, estate, trust, unincorporated association, any federal, state, county or municipal government or any bureau, department or agency thereof
and any fiduciary acting in such capacity on behalf of any of the foregoing. For the avoidance of doubt, Licensor may assign its rights and obligations under the agreement without the consent of either Licensee. 

ARTICLE VIII

MISCELLANEOUS

6

Section 8.1. Notices. All notices hereunder shall be in writing and hand
delivered or mailed by registered or certified mail (return receipt requested) or nationally recognized overnight courier service or facsimile with delivery confirmed to the following addresses (or at such other addresses as shall be specified by
like notice) and will be deemed given on the date received: 

LICENSOR:

Trian Fund Management, L.P.

280 Park Avenue, 41st Floor

New York, NY 10017

Attention: General Counsel

Facsimile: (212) 451-3134 

LICENSEES:

Trian Acquisition I Corp.

280 Park Avenue, 41st Floor

New York, NY 10017

Attention: Chief Legal Officer

Facsimile: (212) 451-3216 

Trian Acquisition I, LLC

280 Park Avenue, 41st Floor

New York, NY 10017

Attention: Edward P. Garden

Facsimile: (212) 451-3024 

Section 8.2. Further Assurances. Licensor and Licensees agree to execute such further documentation and
perform such further actions, including the recordation of such documentation with appropriate authorities, as may be reasonably requested by the other Party hereto to evidence and effectuate further the purposes and intents set forth in this
Agreement. 

Section 8.3. Entire Agreement/Construction. This Agreement shall constitute the entire agreement among the
Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. 

Section 8.4. Amendments. This Agreement, including this provision of this Agreement, may not be modified or
amended except by an agreement in writing signed by each of the Parties hereto. 

Section 8.5. Cumulative Rights; Waiver. All rights and remedies that Licensor or Licensees may have
hereunder or by operation of law are cumulative, and the pursuit of one right or remedy shall not be deemed an election to waive or renounce any other right or remedy. The failure of Licensor or Licensees to require strict performance by the other
Party of any provision 

7

in this Agreement will not waive or diminish that Party’s right to demand strict performance thereafter of that or any other provision hereof. 

Section 8.6. Severability. The Parties agree that each provision of this Agreement shall be construed as
separable and divisible from every other provision. The unenforceability of any one provision shall not limit the enforceability, in whole or in part, of any other provision hereof. If any term or provision of this Agreement (or the application
thereof to any Party or set of circumstances) shall be held invalid or unenforceable in any jurisdiction and to any extent, it shall be ineffective only to the extent of such invalidity or unenforceability and shall not invalidate or render
unenforceable any other terms or provisions of this Agreement (or such applicability thereof). In such event, the Parties shall negotiate in good faith a valid, enforceable, applicable substitute provision that attempts as closely as possible to
achieve the intended purpose of the previous term or provision and has an effect as comparable as possible on the Parties’ respective positions. 

Section 8.7. Governing Law/Jurisdiction. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be performed entirely in the State of New York. The Parties agree, for the purposes of any action arising out of or related to this Agreement, to commence any such action
solely in the state or federal courts located in the State of New York, Borough of Manhattan. 

Section 8.8. Construction. Titles and headings to sections herein are inserted for the convenience of
reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. This Agreement shall be construed as if drafted jointly by the Parties. 

Section 8.9. Separate Counterparts. This Agreement may be executed in one or more counterparts, all of which
shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties. Delivery of an executed signature page of this Agreement by
facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. 

[Remainder of Page Intentionally Left Blank]

8

  IN WITNESS WHEREOF, the Parties hereto have executed this Agreement, effective as of the date first above written. 

						
	 	TRIAN FUND MANAGEMENT, L.P.
	 	 	 	 	 	 
	 	By: 	 	Trian Fund Management GP, LLC,
	 	 	 	Its General Partner
	 	 	 	 	 	 
	 	 		 	 	 	 
	 	 		 	 	 	 
	 	
By: 	 	/s/
        EDWARD P.
    GARDEN
	 	 	 	Name:	 	Edward P. Garden
	 	 	 	Title:	 	Member
	 	 	 	 	 	 
	 	 		 	 	 	 
	 	TRIAN ACQUISITION I CORP.
	 	 		 	 	 	 
	 	 		 	 	 	 
	 	
By: 	 	/s/
        EDWARD P.
    GARDEN
	 	 	 	Name:	 	Edward P. Garden
	 	 	 	Title:	 	President, Chief Executive Officer
    and
	 	 	 	 	 	Director
	 	 	 	 	 	 
	 	 		 	 	 	 
	 	TRIAN ACQUISITION I, LLC
	 	 		 	 	 	 
	 	 		 	 	 	 
	 	
By: 	 	/s/
        EDWARD P.
    GARDEN
	 	 	 	Name:	 	Edward P. Garden
	 	 	 	Title:	 	Member

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