Document:

Agreement dated January 19, 2004 between Michael E. Bray and TNP

 Exhibit 10D 
  
 November 25, 2003 
  

	
	PERSONAL AND CONFIDENTIAL
	
	 Mr. Michael Bray

	 1516 Bette Lane

	 Hellertown, PA 18055

  
 Dear Mike: 
  
 We are pleased to offer you the position of President of TNP Enterprises,
Inc. (“TNP”) under the terms and conditions herein indicated. For purposes of this agreement the term “TNP” shall also include any affiliate or subsidiary of TNP to which you are transferred during the term of this agreement with
your consent. In your position of President you will have the duties, responsibilities, and authority normally associated with such position and will report to the Chief Executive Officer of TNP. 
  
 Term of Agreement 
  
 The term of this agreement shall be for three years effective January 19,
2004 and shall expire on January 19, 2007. 
  

	Compensation	

  
 During the term of this agreement, you will be entitled to annual compensation of not less than $450,000 payable as described below. 
  

	 	1.	Your annual salary will be not less than $450,000. The amount of compensation will be reviewed by the Board of Directors at the regularly scheduled meeting immediately prior to the
effective date of this agreement and may be adjusted upward to reflect then current market compensation for an employee holding the above noted position. 

  

	 	2.	You will be eligible to receive an annual incentive bonus ranging from 0% to 37.5% of your Base Salary if you remain employed by TNP through the end of each calendar year during the
term of this agreement. The amount of your annual incentive bonus will be based on the attainment of certain pre-established financial and operational goals of TNP. Your target annual incentive bonus shall be equal to 25% of your Base Salary.
However, for 2004 your annual incentive bonus shall be not less than $150,000. 

  

	 	3.	You will be eligible for all of TNP’s benefits, including major medical, dental, life, and long-term disability insurance, pension plan participation, excess benefit plan
participation, thrift plan participation, deferred compensation plan participation, holiday pay and vacation pay, in accordance with TNP’s plans and policies as in effect from time to time. 

 Termination Without Cause 
  
 Notwithstanding any other provision of this agreement, in the event that during the term of this agreement, your employment
with TNP is terminated by you for Good Reason (as defined below) or by TNP for any reason other than for Cause (as defined below), you shall be entitled to receive the greater of either (a) a lump sum payment equal to the continuation of your then
current annual salary for a period of 18 months, plus an amount equal to the incentive compensation for the year in which the termination occurs, pro rated for the number of months employed during that year, or (b) a lump sum payment equal to the
then current annual salary divided by twelve and multiplied times the total number months between the date of termination and the date this agreement would terminate, plus an amount equal to the incentive compensation for the year in which the
termination occurs, pro rated for the number of months employed during that year. You shall also be entitled to medical insurance at a cost to you equal to that paid by employees of TNP for the greater of (a) 18 months or (b) the date this agreement
would terminate. 
  
 For the purposes of this agreement, Good
Reason shall mean any of the following (without your prior express written consent) (i) a material adverse change in your title, position, duties or responsibilities (provided, however, that a redesignation of your title, duties or responsibilities
among TNP and its subsidiaries and affiliates shall not constitute Good Reason if your overall duties and status among TNP and its subsidiaries and affiliates are not substantially adversely affected); (ii) your compensation arrangements as provided
in this agreement are decreased by TNP; (iii) your benefits under the employee benefit plans and programs of TNP are, in the aggregate, materially decreased; (iv) there is a material adverse change in your reporting rights and/or obligations; or (v)
TNP requires you to relocate to a location more than sixty-five (65) miles from the location of your office at TNP. A termination for Good Reason under this agreement must occur within thirty (30) days after the event that first provides a basis for
such termination. 
  
 Termination for Cause 
  
 In the event that during the term of this agreement, your employment with
TNP is terminated for Cause, all rights under this agreement shall cease and you shall not be entitled to any additional compensation or payments hereunder. For the purposes of this agreement, Cause shall mean (i) your willful and continued failure
to substantially perform your duties with TNP (excluding any failure resulting from your disability), subject to any appeal or grievance procedure set forth in TNP’s Personnel Policy Manual; (ii) your performance of any act or acts constituting
a felony involving moral turpitude and which results or is intended to result in damage or harm to TNP, whether monetary or otherwise, or which results in or is intended to result in improper gain or personal enrichment; or (iii) violations of
TNP’s Personnel Policy Manual, as constituted at any time prior to the expiration of this agreement, concerning personal conduct; provided, that TNP must follow its disciplinary procedures as set forth therein. 
  

 2 

 Your employment with TNP may be terminated with Cause only if (1) you shall have received, at least 30
days prior to the date specified by TNP therein as the effective date of termination, written notice describing the basis for TNP’s determination that Cause exists and (2) you shall not have fully cured prior to such effective date each basis
for such determination that Cause exists. 
  
 Change of Control

  
 In the event a Change of Control (as defined below)
occurs and you are either (x) terminated without Cause, or (y) you terminate your employment for Good Reason, you will be entitled (a) to a lump sum payment equal to three times your then current annual salary, and (b) medical insurance for three
years at a cost to you equal to that paid by employees of TNMP. 
  
 For purposes of this Agreement a Change of Control means an event which shall be deemed to have occurred if: 
  

	 	(i)	any “person” as such term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) (other than TNP, any trustee or other
fiduciary holding securities under any employee benefit plan of TNP, or any company owned, directly or indirectly, by the stockholders of TNP in substantially the same proportions as their ownership of stock of TNP) is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of TNP representing 50% or more of the combined voting power of TNP’s then outstanding securities; 

 

	 	(ii)	during any period of two consecutive years, individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person
who has entered into an agreement with TNP to effect a transaction described in clause (iii) or (iv) herein) whose election by the Board or nomination for election by TNP stockholders was approved by a vote of at least two-thirds of the directors
then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof; 

  

	 	(iii)	the stockholders of TNP approve a merger or consolidation of TNP with any other corporation, other than a merger or consolidation that would result in the voting securities of TNP
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of TNP or such
surviving entity outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to implement a recapitalization of TNP (or similar transaction) in which no “person” (as hereinabove
defined) acquires more than 25% of the combined voting power of TNP’s then outstanding securities shall not constitute a Change of Control; or 

  

 3 

	 	(iv)	the stockholders of TNP approve a plan of complete liquidation of TNP or an agreement for the sale or disposition by TNP of, or TNP sells or disposes of, all or substantially all of
TNP’s assets. 

  
 An initial public offering by
TNP of its common stock or other equity securities will not be deemed to be a Change of Control. 
  
 The lump sum payable under this Change of Control provision shall be grossed up by the amount due in the event either of the following events occur:

  

	 	(a)	any excise tax becomes payable pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”); and 

  

	 	(g)	any additional federal, state, or local income tax liability (calculated at the highest effective rate applicable to individuals) becomes payable and the amount of any additional
excise tax liability (under Section 4999 of the Code) attributable to the foregoing payments. 

  
 Pension Benefit 
  
 Notwithstanding any other provision in this Agreement, in the event your employment is terminated for any reason other than Cause, you will be vested in the pension benefit and entitled to credit on your pension plan accruals based on your
annual salary immediately prior to termination applied to the months between your termination and January 1, 2007. 
  
 Miscellaneous Provisions 
  
 TNP’s obligation to make the payments provided for in this agreement and otherwise to perform its obligations hereunder shall not be affected by any
circumstances, including without limitation, any set-off, counterclaim, recoupment, defense or other claim, right or action which TNP may have against you or others. In the event that your employment with TNP is terminated for any reason, other than
for Cause, you shall be under no obligation to seek other employment or take any other action by way of mitigation of the amounts payable to you under any of the provisions of this agreement. 
  
 In the event that a claim for payment or benefits under this agreement is
disputed, or if TNP commences any proceedings in connection with your employment, you shall be reimbursed for all attorney fees and expenses incurred by you in pursuing such claim, provided that you are successful as to at least part of the disputed
claim by reason of litigation, arbitration or settlement. While such claim or proceeding is pending, TNP will reimburse you for such attorney fees and expenses on a regular, periodic basis, within thirty days following receipt by TNP of statements
of such counsel. However, if you are not successful as to at least part of the disputed claim by reason of litigation, arbitration or settlement, you agree to repay TNP within 30 days of such determination, an amount equal to the total amount that
TNP has previously reimbursed you for legal fees and expenses in connection with such claim or proceeding. 
  

 4 

 TNP shall require any successor to all or substantially all of its business and/or assets, whether direct
or indirect, by purchase, merger, consolidation, acquisition of stock, or otherwise, to expressly assume and agree to perform this agreement in the same manner and to the same extent as TNP would be required to perform if no such succession had
taken place. For purposes of this paragraph, “TNP” shall mean both TNP 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. 
  
 The Executive shall not, during the Term of
Employment and thereafter, without the prior express written consent of TNP, disclose any confidential information, knowledge or data relating to TNP, TNMP or any Affiliate and their respective businesses, which (a) was obtained by the Executive in
the course of the Executive’s employment with TNP, and (b) which is not information, knowledge or data otherwise in the public domain (other than by reason of a breach of this provision by the Executive), unless required to do so by a court of
law or equity or by any governmental agency or other authority. In no event shall an asserted violation of this paragraph constitute a basis for delaying or withholding the payment of any amounts otherwise payable to the Executive under this
Agreement. 
  
 The respective rights and obligations of the
parties hereunder shall survive any termination of this agreement for any reason to the extent necessary to the intended provision of such rights and the intended performance of such obligations. 
  
 No provisions of this agreement may be modified, waived or discharged unless
such waiver, modification or discharge is agreed to in writing signed by you and TNP. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set
forth expressly in this agreement. This agreement shall be governed by and construed in accordance with the laws of the State of Texas. 
  
 If the above terms and conditions meet with your approval, please so indicate by countersigning this letter in the space provided below, returning on copy
to me. We would be extremely pleased and proud to have you as a member of our TNP team. 
  

			
	 Sincerely,

	
	 TNP Enterprises, Inc.

		
	 By:
	 	  

	 	 	 William J. Catacosinos

  
 Agreed to and accepted this
             day of             , 2003. 
  

 Michael Bray 
  

 5Resignation Agreement between Sohu.com Inc and Derek Palaschuk

 Exhibit 10.28 
  
 Address: Suite 1519 Tower 2 
 Bright China Chang An Building 
 7 Jianguomen Nei Avenue, Beijing 100005 
  
 Derek Palaschuk 
  
 Box 580 
 Raymore, Sask, Canada 
 SOA 3GO 
  
 Dear Derek; 
 You have indicated to me your intention to resign from your position as the Chief Financial Officer of Sohu.com Inc.
(“Sohu”). You have kindly offered to delay your departure in order to permit us to find a suitable replacement for you as Chief Financial Officer. This letter (“Letter Agreement”) confirms our agreement as to your resignation
from employment with Sohu and the terms and conditions of your agreement, at the request of Sohu’s Board of Directors, to remain with Sohu for a suitable transition period. For good and valuable consideration, we have agreed as follows:

  
 1.    Resignation from
Employment. Sohu’s Board of Directors has accepted your resignation from employment with Sohu effective as of June 30, 2004 (the “Effective Date”). Subject to possible earlier termination of your employment as described
below, you will receive through the Effective Date all amounts due to you under your January 1, 2003 Employment Agreement with Sohu (the “Employment Agreement”), and you will continue to serve as Sohu’s Chief Financial Officer and
have full responsibility for overseeing Sohu’s finance function, including but not limited to the preparation of financial statements for the year ended December 31, 2003 and the first quarter of 2004. 
  
 2.    Early Termination. You and Sohu understand
and acknowledge that (a) Sohu may chose to terminate your employment at any time after January 31, 2004 and prior to the Effective Date if a new Chief Financial Officer is hired and commences work with Sohu or for any other reason without Cause (as
defined in the Employment Agreement) at the Board of Directors’ sole discretion, subject to the continued vesting of your options and payments to you of severance as set forth in paragraphs 3 and 4 below, and (b) you may chose to terminate your
employment with Sohu at any time after January 31, 2004 and prior to the Effective Date voluntarily, provided that if you terminate your employment voluntarily other than with “Good Reason” (as defined in the Employment Agreement) you
would forfeit continued vesting of your options and receipt of a severance as set forth in paragraphs 3 and 4 below and (c) you may terminate your employment with Sohu at any time after January 31, 2004 and prior to the Effective Date with Good
Reason, and in such case you would receive continued vesting of your options and payments to you of severance as set forth in paragraphs 3 and 4 below. 
  
 3.    Continued Vesting of Options. In consideration of your agreement in this Letter Agreement to delay the effectiveness of
your resignation, and notwithstanding anything to the contrary in Sohu’s 2000 Stock Incentive Plan (“Incentive Plan”) or the applicable agreements and 

 certificates, your options to purchase common stock of Sohu (the “Options”) will continue to vest until
December 31, 2004 and will be exercisable to the extent vested as of December 31, 2004 in accordance with the Incentive Plan. Notwithstanding the foregoing, should you leave the employ of Sohu prior to the Effective Date voluntarily other than with
Good Reason, the vesting and exercisability of your Options will terminate as of the date of the termination of your employment. If you leave with Good Reason, your options to purchase common stock of Sohu will continue to vest until December 31,
2004 and will be exercisable to the extent vested as of December 31, 2004 in accordance with the Incentive Plan. 
  
 4.    Severance. In consideration of your agreement in this Letter Agreement to delay the effectiveness of your resignation,
and notwithstanding anything to the contrary in the Employment Agreement, you will be entitled to receive those benefits listed in Section 6(d) of your Employment Agreement after the effective date of the termination of your employment with Sohu.
Notwithstanding the foregoing, should you leave the employ of Sohu prior to the Effective Date of Sohu voluntarily other than with Good Reason, you will be entitled to such salary and benefits as defined in Section 6(b) of the Employment Agreement.

  
 5.    Resignation. By signing
below, you hereby confirm that you resign, effective as of June 30, 2004 from all officer, manager and director positions you hold in Sohu and all affiliated and related entities (collectively with Sohu, the “Sohu Group”), and that you
will at such time cease having any rights to use any titles in such entities or with respect to any of the businesses operated thereby. 
  
 6.    Termination of Employment Agreement. Except for Section 7(c) and Sections 9, 10, 11 and 12 of the Employment Agreement,
which will survive indefinitely, you and Sohu hereby agree that the Employment Agreement will be terminated effective as of the Effective Date or such earlier date as your employment with Sohu may be terminated in accordance with the terms of this
Letter Agreement. You agree that the Employee Non-Competition, Non-Solicitation, Confidential Information and Work Product Agreement (the “Employee Obligations Agreement”) you entered into with Sohu will survive the termination of your
employment in accordance with its terms. Sohu and you agree that your employment with or provision of services to a person or entity that provides on-line games or operates an on-line travel Website will not constitute a violation of Section 1 of
the Employee Obligations Agreement, except that without the written approval of Sohu, your engaging, directly or indirectly, in any business relationship with any existing partners of any member of the Sohu Group, including without limitation
Wizgate, Pixel and Blizzard, will be considered to be such a violation. 
  
 7.    Release of Sohu Group. In exchange for Sohu’s promises and agreements contained herein, and subject in all events to the effectiveness of this Letter Agreement, you hereby agree, on your own behalf, and
on behalf of your heirs, successors and assigns, that the terms of this Letter Agreement will be in complete and final settlement of any and all claims, rights, interests, demands, compensation and damages (“Claims”), whether known or
unknown, of every name and nature, both in law and equity, you have or may have, or have ever had from the beginning of the world to this date, against Sohu or any other member of the Sohu Group, or any director, officer, employee, independent
contractor, consultant, stockholder, manager, member, partner, trustee, beneficiary or agent of any of the foregoing through the date hereof, in 

 any way relating to or arising out of your employment with Sohu, and the termination of such employment. This release
does not release Sohu from any of its obligations under this Letter Agreement. 
  
 8.    Release of You. In exchange for your promises and agreements contained herein, and subject in all events to the effectiveness of this Letter Agreement, Sohu agrees that the terms of
this Letter Agreement will be in complete and final settlement of any and all Claims, whether known or unknown, of every name and nature, both in law and equity, it has or may have, or has ever had from the beginning of the world to this date,
against you through the date it has signed this Letter Agreement, in any way related to or arising out of your employment with Sohu and the termination of such employment. This release does not release you from, or waive any of the rights of Sohu or
any other member of the Sohu Group with respect to, (a) any of your obligations under this Letter Agreement or (b) any act or omission that constitutes gross negligence, intentional misconduct, fraud, bad faith or a knowing material violation of
law. 
  
 9.    Non-Disparagement. Sohu
hereby agrees that it will not, directly or indirectly, disparage, harass, or defame, or instigate, request, encourage, suggest, support or assist any person in disparaging, harassing or defaming (the foregoing, collectively, “Disparage”),
you. You hereby agree that you will not, directly or indirectly, Disparage any member of the Sohu Group or the directors, officers, employees, consultants, products or services of any member of the Sohu Group. 
  
 10.    Miscellaneous. 
  
 (a)    Governing Law. This Letter Agreement will
be governed by and construed and enforced in accordance with the laws of the State of Delaware if the dispute is resolved therein, and in accordance with the laws of the People’s Republic of China (“China”) if the dispute is resolved
therein or in any other jurisdiction other than the State of Delaware, in each case exclusive of such jurisdiction’s principles of conflicts of law. 
  
 (b)    Notices. All notices, requests and other communications under this Letter Agreement will be in writing and will be given
in accordance with the notice provisions in Section 10 of the Employment Agreement. 
  
 (c)    Entire Agreement. This Letter Agreement constitutes the entire understanding between Sohu and you relating to the subject matter hereof and supersedes and cancels all prior and
contemporaneous written and oral agreements and understandings with respect to the subject matter of this Letter Agreement. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been
made by either party which are not set forth expressly in this Letter Agreement. 
  
 (d)    Modification: Waiver. No provision of this Letter Agreement may be modified, waived or discharged unless modification, waiver or discharge is agreed to in writing signed by you and
such officer of Sohu as may be specifically designated by its Board of Directors. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Letter Agreement to be performed by
such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

 (e)    Validity. The invalidity or unenforceability of any provision or
provisions of this Letter Agreement will not affect the validity or enforceability of any other provision of this Letter Agreement, which will remain in full force and effect. Sohu confirms that the terms of this Letter Agreement have been
appropriately approved by the Sohu Compensation Committee and the Sohu Board of Directors. 
  
 (f)    Language. This Letter Agreement is written in the English language only. The English language also will be the controlling language for all future communications between the parties
hereto concerning this Letter Agreement. 
  
 (g)    Counterparts. This Letter Agreement may be signed in any number of counterparts, each of which will be deemed an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument. 
  
 (h)    Dispute
Resolution. Either party may bring a legal action arising out of, or relating to this Letter Agreement in any forum or jurisdiction permitted in Section 12 of the Employment Agreement with respect to legal actions arising out of the Employment
Agreement. 
  
 (i)    Further
Assurances. Each party agrees to execute, acknowledge and deliver such further instruments as may be deemed necessary or desirable to confirm and carry out the intent of the foregoing undertakings set forth herein, including without limitation,
so as to terminate any signature authority you may have had relating to any bank account of Sohu or any other member of the Sohu Group. 
  
 (j)    Injunctive Relief. Each party agrees and acknowledges that any breach of the provisions of this Letter Agreement may
cause irreparable harm and significant injury to the other to an extent that may be extremely difficult to ascertain. Accordingly, each party agrees that the other party will have, in addition to any other rights or remedies available to it at law
or in equity, the right to seek injunctive relief to enjoin any breach or violation of this Letter Agreement. 
  
 (k)    Representation. In signing this Letter Agreement, you represent that you understand its terms and are entering into it
knowingly and voluntarily. You acknowledge that you have been advised by Sohu that you may seek legal counsel of your choice to review it. You further acknowledge that the drafters of this Letter Agreement, attorneys at Goulston & Storrs, P.C.,
represent Sohu and not you. 
  
 If the foregoing is agreeable to
you, please sign, date and return the enclosed copy of this Letter Agreement. 
  
 Very truly yours, 
  
 

 
 Chief Executive Officer 
  
 

 
 DEREK PALASCHUK

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}]]