Document:

Executive Employment Agreement

 Exhibit 10.28 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This
Executive Employment Agreement between China Water and Drinks, Inc. (“Company”), a wholly-owned subsidiary of Heckmann Corporation (“Parent”) , and Jack Guo (“Executive”) is made effective on this 15th day of November 2008 (“Agreement”). Company and Executive hereby agree to the employment of Executive by Company on the following terms and
conditions: 
  

	1.	Commencement and Term of Agreement 

 Executive’s employment under this Agreement will commence on November 15, 2008, and continue unless earlier terminated pursuant to the provisions of this Agreement. The term of the Agreement shall be extended daily so that the
remainder of the term is one (1) year (the “Term”). The Term may be modified or extended by mutual agreement. 
  

	2.	Positions and Appointments 

 Executive shall serve
as Vice President, Finance and Chief Financial Officer of Company. Executive’s duties shall include, but not be limited to, those typical of the chief financial officer of a significant operating subsidiary, and such other duties as may be
required by the Company from time to time consistent therewith, or where not, by agreement between the parties hereto. Executive shall perform his duties during reasonable business hours from the Company’s offices in Kowloon, China, or with the
Company’s consent, from his home office. Executive may be required to travel occasionally and/or for extended, reasonable periods of time for business purposes, including to any other office maintained by the Company. 
  

	3.	Base Salary 

 Company will pay Executive a base
salary in cash of $150,000 per annum from which tax and other withholdings will be deducted, paid in equal bi-monthly installments. Executive’s base salary may be changed by mutual agreement at any time during the Term. 
  

	4.	Bonus and Equity Incentive Holdings 

  

	4.1	Executive shall receive a guaranteed bonus equal to 35% of base salary, payable by Company on an annual basis, from which tax and other withholdings will be deducted.

  

	4.2	Executive shall also receive a discretionary bonus equal to 25% of base salary, payable by Company on an annual basis, from which tax and other withholdings will be deducted. This
separate discretionary bonus shall be based on Executive’s individual contribution and the performance metrics determined and recommended by the Company’s President and approved by the Compensation Committee of the Board of Directors of
Parent. 

  

	4.3	Executive shall receive a grant of 125,000 restricted shares of Parent company stock, of which two-thirds shall vest on the first business day following the Parent’s 2009
annual meeting of stockholders, and the remaining one-third shall vest on April 15, 2010. Issuance of the restricted shares is subject to obtaining stockholder approval of such grant as required by the rules of the New York Stock Exchange. The
Parent’s restricted stock plan shall be approved at the Parent’s 2009 Annual Meeting of Stockholders. 

  

	4.4	 Executive shall be eligible to receive two (2) additional grants of Parent company restricted shares, as follows: (a) a grant of 125,000 restricted shares
if Parent common stock trades at or above US$12 per share for twenty (20) trading days during any thirty (30) consecutive calendar day period, and (b) a grant of 125,000 restricted shares if Parent common stock trades at or above
US$18 per share for twenty (20) trading days during any 

  

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thirty (30) consecutive calendar day period. Issuance of the restricted shares is subject to obtaining stockholder approval of such grant as required by
the rules of the New York Stock Exchange. The Parent’s restricted stock plan shall be approved at the Parent’s 2009 Annual Meeting of Stockholders, or subsequent stockholder meetings as applicable. 

  

	5.	Expenses; Housing Stipend 

 Company shall reimburse
Executive in respect of all reasonable travelling, accommodation, marketing, entertainment, and other similar out-of-pocket business expenses necessarily incurred by Executive in the performance of his duties, provided that any expense reimbursement
claims are supported by relevant documentation and are made in accordance with Company’s expense policies. For all business-related travel, Executive will be entitled to reimbursement pursuant to the Company’s travel policies. As a housing
stipend, Company shall reimburse Executive the sum of USD$5,000 per month during any Term of this Agreement, it being understood and agreed that the stipend shall not exceed USD$60,000 per annum. 
  

	6.	Benefits and Vacation 

 Executive shall be entitled
to participate in, and receive benefits as permitted by applicable law under, any pension benefit plan, welfare benefit plan (including, without limitation, health insurance), vacation benefit plan including 15 paid vacation days per annum, or other
executive benefit plan made available by Company to its senior executives. Any such plan or benefit arrangement may be amended, modified, or terminated by Company from time to time with or without notice to Executive. 
  

	7.	Termination of Employment 

  

	7.1	By Executive. 

 Executive may seek to terminate his
employment by choice without any “Good Reason” by giving the Company one (1) month of notice in writing. If so, he receives only the base salary, pro rata bonus, and pro rata lapse of all restrictions on stock and vesting of equity
grants applicable through his final day of service. 
 Executive may seek to terminate his employment with “Good Reason” by giving
to Company thirty (30) days notice in writing, and Company shall have thirty (30) days after said notice to cure the problem. If uncured, Executive receives the amount of compensation reached by mutual agreement paid in a lump-sum, but no
less than an amount equal to his most recent twelve (12) months’ base salary, bonus, and pro rata vested stock. Executive shall also remain covered by the Company’s health benefits plan for twelve (12) months. 
 “Good Reason” shall mean: (a) a material change in Executive’s authority, duties, and executive responsibilities with the Company, or
(b) a material change in Executive’s authority, duties, and executive responsibilities combined with a “Change of Control” (as defined below), or (c) a change in direct reporting to the Chief Executive Officer, or (d) a
material breach of this Agreement. 
  

	7.2	By Company. 

 Company may seek to terminate
Executive’s employment by choice without “Cause” by giving Executive not less than thirty (30) days notice in writing. If so, Executive receives the amount of compensation reached by mutual agreement paid in a lump-sum, but no
less than an amount equal to his most recent twelve (12) months’ salary, bonus, and the lapse of all restrictions on stock and full vesting of all equity grants. Executive shall also remain covered by the Company’s health benefits
plan for twelve (12) months. 
 Company may seek to terminate Executive’s employment with “Cause” by giving Executive no
less than thirty (30)) days notice in writing, as well as providing Executive thirty (30) days to cure the problem. If 

  

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uncured, Executive receives the salary, bonus, and pro rata vested stock applicable through his final date of service. “Cause” shall be deemed to
exist if Executive shall at any time: (a) commit a material breach of this Agreement, or (b) be guilty of gross negligence in connection with or affecting the business or affairs of the Company, or (c) be guilty of insubordination, or
(d) be convicted of, or plead no contest to, a felony criminal offense. 
  

	7.3	Death and Disability. 

 Executive’s employment
will automatically terminate upon his death. Further, Company reserves the right to terminate Executive’s employment at any time during which Executive has a “Disability.” 
 For purposes of this Agreement, a “Disability” means a physical or mental impairment that prevents Executive from performing the essential
duties of his position, with or without reasonable accommodation, for (i) a period of sixty (60) consecutive calendar days, or (ii) an aggregate of ninety (90) work days in any six (6) month period. A determination that
Executive has incurred a Disability will be made by Company, in its sole discretion, but in consultation with a physician selected by Company and who works in Kowloon or Hong Kong, China, provided that such selected physician consults with
Executive’s physician in addition to any examination of Executive and/or other tests on Executive that such selected physician performs or orders to be performed, and Executive hereby agrees to submit to any such examinations and/or other tests
from time to time. Notwithstanding the foregoing, any termination of employment due to a “Disability” will be made in accordance with applicable local laws. 
 In the event of a termination of Executive’s employment due to death or Disability prior to full performance and receipt and exchange of all deliveries under this Agreement, Company will deliver to Executive or
his estate, as applicable, all unvested restricted stock, all stock options under the Parent 2009 Equity Incentive Plan, and a lump-sum payment equal to his most recent twelve months’ salary and bonus. 
  

	8.	Change of Control 

 In the event that the
Executive’s employment with Company is terminated (i) by Company without Cause or by the Executive with Good Reason, in either case within one year following a “Change of Control” (as defined below) or (ii) by Company
without Cause within six months prior to a “Change of Control” and such termination was in connection with the “Change of Control” then in lieu of any payments or benefits under clauses 7.1 or 7.2, as applicable, the Executive
shall be entitled to receive the following payments and benefits: 
  

	 	(a)	within thirty (30) days, or other mutually agreed date, a payment equal to two (2) times the Executive’s annual base salary as in effect as the time of termination or
immediately prior to the occurrence of the Change of Control; and 

  

	 	(b)	within thirty (30) days, or other mutually agreed date, a payment equal to two (2) times the Executive’s bonuses under clauses 4.1. and 4.2 for the year immediately
preceding the year in which the Change of Control occurs; and 

  

	 	(c)	two (2) years of continued coverage under the Company’s (or its successor’s) health insurance plan at the same rates and under the same terms and conditions that are
applicable to senior Executives of Company or its successor; and 

  

	 	(d)	 immediate lapse of restrictions and immediate vesting respecting any restricted stock and outstanding 

  

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equity incentive awards made to the Executive under clauses 4.3 and 4.4. 

 For purposes of this Agreement, “Change of Control” means the earliest to occur of the following events: 
  

	 	(i)	the acquisition or ownership by any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, and any successor
statute, as it may be amended from time to time (the “Exchange Act”)) (each, a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% the combined voting
power of the outstanding voting securities of Company entitled to vote generally in the election of directors (“Outstanding Voting Securities”) ; or 

  

	 	(ii)	individuals who, as of the commencement of the Executive’s employment with Company, constitute the Board of Directors of Company (the “Incumbent Board”) cease for any
reason to constitute at least a majority of the Board of Directors of Company; or 

  

	 	(iii)	consummation of a reorganization, merger or consolidation, or sale or other disposition of all or substantially all of the assets of Company (a “Corporate Transaction”):
or 

  

	 	(iv)	approval by the stockholders of Company of a complete liquidation or dissolution of Company. 

  

	9.	Confidential Information 

  

	9.1	Executive acknowledges that, during the course of his employment with Company, he will have access to confidential business information and secrets. Executive agrees, both during
the term of his employment and following its termination, that he will hold the confidential business information and secrets in the strictest confidence, and that he will not use or attempt to use or disclose any confidential information or
business secrets to any other person or entity without the prior written authorization of Company. 

  

	9.2	The restrictions of clause 9.1 do not apply to any Confidential Information that (a) has entered into the public domain other than by a breach of this Agreement or other
obligation of confidentiality of which Executive is aware, or (b) solely to the extent and for the duration required, is required to be disclosed under a validly-issued court order, pursuant to a request by government regulators, and which
disclosure Company is unable legally to prevent. 

  

	10.	Further Obligations of Executive 

  

	10.1	Executive shall comply with all applicable rules of law, securities laws, regulations, and codes of conduct of Company in effect from time to time in relation to dealings in shares,
notes, debentures, or other securities. 

  

	10.2	Executive represents that his employment with Company does not violate any prior agreement with a former employer or third party. 

  

	11.	Miscellaneous 

  

	11.1	 This Agreement constitutes the entire agreement and understanding between Company and Executive and supersedes any other agreements, whether oral or written, with
respect to the subject matter of this 

  

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Agreement. This Agreement may only be modified or amended by a further agreement in writing signed by the parties hereto. 

  

	11.2	This Agreement is governed by and shall be construed in accordance with the laws of the Hong Kong Special Administrative Region of the People’s Republic of China and the State
of California, insofar as those laws can be harmonized to realize the intent of the parties hereto, and without giving effect to conflict of law principles. 

  

	11.3	In the event the parties are unable to settle a dispute respecting this Agreement such dispute shall b referred to and finally settled by arbitration at Hong Kong International
Arbitration Centre in accordance with its commercial and employment Arbitration Rules then in effect, administered by a single experienced arbitrator selected by mutual agreement. The parties may offer any relevant materials in discovery under
volume and timescale guidelines set by the arbitrator, and may offer legal briefing and relevant precedent respecting the agreed up choice of law immediately above. 

  

	11.4	This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all such counterparts when taken together shall constitute one and the
same original. 

  

	11.5	Except to the extent that applicable law requires that any specific action be taken or performed by Parent’s Compensation Committee, or to the extent otherwise provided in this
Agreement, any action to be taken or performed, or direction to be provided, by Company under this Agreement may be taken, performed, or provided at the direction of Company’s Chief Executive Officer. 

  

	11.6	Any waiver by Company of any provision, or any breach of any provision, of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such provision or
any other provision herein. 

  

	11.7	Due to the personal nature of the services contemplated under this Agreement, this Agreement and Executive’s rights and obligations hereunder may not be assigned by Executive.
Company may assign its rights, together with its obligations hereunder, in connection with any sale, transfer, or other disposition of all or substantially all of its business and/or assets, provided that any such assignee of Company agrees to be
bound by the provisions of this Agreement. 

  

									
	Company	 		 	
					
	By:	 	/s/ Richard J. Heckmann	 		 		 	Date: December 11, 2008
		 	Name: Richard J. Heckmann	 		 		 	
		 	Title: Chairman of the Board	 		 		 	
			
	Executive	 		 	
				
	/s/ Jack Guo	 		 		 	Date: December 11, 2008
	Jack Guo	 		 		 	

  

 5Form of Notice of Exercise (Net)

 Exhibit 10.01 
 NOTICE OF NET EXERCISE 
  

					
	 Serena Software, Inc.
 1900 Seaport Blvd., 2
nd Floor
 Redwood City, CA 94063
	 		 	
	 	 
	 	Date of Exercise:                                   
                                        

 Ladies and Gentlemen: 
 This constitutes notice under my stock option described below (“Option”) that I elect to purchase the number of Shares for the consideration set forth below. 
 Stock Option Dated: 
 Vested Rollover Options
To Expire: 
 Exercise Price Per Share: 
 Fair Market Value Per Share As Of [            ]: 
 Aggregate Fair
Market Value Of Shares: 
 Aggregate Exercise Price: 
 Intrinsic Value/Taxable Income: 
 Estimated Taxes/Withholdings At [    ]%: 
 Shares To Cover Exercise Price: 
 Shares To
Cover Taxes/Withholdings: 
 Shares To Be Issued To Employee: 
 Certificates To Be Issued In Name Of: 
 By this exercise, I agree (i) to execute or provide such
additional documents as Serena Software, Inc. (the “Company”) may reasonably require pursuant to the terms of this Notice of Exercise and the Company’s Amended and Restated 1997 Stock Option and Incentive Plan (the “Plan”)
and the Management Stockholders Agreement dated March 7, 2006 (“Management Stockholders Agreement”), (ii) to provide for the payment by me to the Company of the Company’s withholding obligation, if any, relating to the
exercise of this Option through the net exercise of the Option as set forth herein, and (iii) to such other terms and conditions set forth in this Notice of Exercise. 
 I hereby make the following certifications and representations with respect to the number of shares of Common Stock of the Company listed above (the
“Shares”): 
 I am aware that my investment in the Company is a speculative investment that has limited liquidity and is subject to
the risk of complete loss. I am able, without impairing my financial condition, to hold the Shares for an indefinite period and to suffer a complete loss of my investment in the Shares. 
 I represent and warrant to the Company that I am acquiring and will hold the Shares for investment for my account only, and not with a view to, or for
resale in connection with, any “distribution” of the Shares within the meaning of the Securities Act of 1933 (the “Securities Act”) or the similar laws of any state or foreign jurisdiction. 
 I understand that the Shares have not been registered under the Securities Act, the Securities Exchange Act of 1934, or under the similar laws of any
state or foreign jurisdiction (collectively, “Applicable Securities Laws”) by reason of a specific exemption therefrom and that the Shares must be held indefinitely, unless they are subsequently registered under the Applicable Securities
Laws or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required. 
 I acknowledge that the Company is under no obligation to register the Shares under Applicable Securities Laws. 

 I am aware of the adoption of Rule 144 by the Securities and Exchange Commission under the Securities
Act, which permits limited public resales of securities acquired in a non-public offering, subject to the satisfaction of certain conditions. These conditions may include (without limitation) that certain current public information about the issuer
is available, that the resale occurs only after the holding period required by Rule 144 has been satisfied, that the sale occurs through an unsolicited “broker’s transaction” and that the amount of securities being sold during any
three-month period does not exceed specified limitations. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future. 

I will not sell, transfer or otherwise dispose of the Shares in violation of the Plan, the agreement under which my right to acquire the Shares was
granted, Applicable Securities Laws, or the rules promulgated thereunder, including Rule 144 under the Securities Act. 
 I acknowledge that
I have received and had access to such information as I consider necessary or appropriate for deciding whether to invest in the Shares, and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the issuance of the Shares. 
 I acknowledge that the fair market value of the shares described above was determined pursuant
to an independent valuation of the Company’s common stock as of [            ] and has not been updated to reflect changes in valuation that may have occurred from such date. I further
acknowledge that I am not relying on any representation from the Company that such fair market value per share reflects the actual fair market value per share of the common stock of the Company as of the exercise date of the Option. I agree to the
use of the fair market value per share set forth above for purposes of paying the aggregate exercise price of the Option, determining applicable payroll taxes and withholdings and determining the amount of shares that are to be issued to me as a
result of the net exercise of my Option. 
 I acknowledge that the Shares will be subject to certain significant encumbrances, including, but
not limited to, drag along rights in favor of certain stockholders of the Company, repurchase rights in favor of the Company and certain stockholders of the Company, limitations on transfer, and other encumbrances set forth in the Plan, Stock Option
Agreement, Management Stockholders Agreement and other applicable agreements and/or described in the Company’s bylaws or certificate of incorporation in effect at such time as the Company or such other person elects to exercise its or his
right. 
 I acknowledge that I am acquiring the Shares subject to all other terms of the Plan, the Stock Option Grant Notice, the Stock
Option Agreement and the Management Stockholders Agreement. 
 I further agree that if required by the Company (or a representative of the
underwriter(s)) in connection with the first underwritten registration of the offering of any equity securities of the Company under the Securities Act (or any underwritten registration of any securities of the Company prior to that time), for a
specified period of time, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Shares or other securities
of the Company held by me. I further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect
thereto. In order to enforce the foregoing covenant, the Company may impose stop transfer instructions with respect to my Shares until the end of such period. 
 I agree, and as a condition of exercise if I am married I will obtain the agreement of my spouse, that prior to the effectiveness of the first underwritten registration of the Company’s equity securities under
the Securities Act, I will not transfer any or all of the Shares unless pursuant to an exception provided in the Plan or the Stock Option Agreement. 
 I agree that as a condition to this exercise, the certificates evidencing the Shares shall remain in the physical custody of the Company or its designee at all times prior to the last to occur of (i) the date on
which all 

  

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contractual restrictions set forth in the Plan, the Company’s Articles of Incorporation and/or bylaws, or in the documents evidencing the Stock Option
Agreement lapse, or (ii) the date on which all contractual requirements set forth in the Plan, the Company’s Articles of Incorporation and/or bylaws, or in the documents evidencing the Stock Option Agreement are satisfied. As a condition
to this exercise I agree to execute the Assignment Separate From Certificate (with date and number of Shares blank) substantially in the form attached to this Notice of Exercise as Attachment A, and the Joint Escrow Instructions substantially in the
form attached to this Notice of Exercise as Attachment B, and to deliver the same to the Company, along with such additional documents as the Company may require. 
 I further acknowledge that all certificates representing any of the Shares subject to the provisions of my Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any
legends reflecting restrictions pursuant to the Company’s Certificate of Incorporation, by-laws, and/or Applicable Securities Laws. 
 I
agree to seek the consent of my spouse to the extent required by the Company to enforce the foregoing. 
  

	
	 Very truly yours,
  
  

 ATTACHMENTS: 
 A. Form of Assignment Separate from Certificate 
 B. Form of Joint Escrow Instructions 
  

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 ATTACHMENT A 
 FORM OF ASSIGNMENT SEPARATE FROM CERTIFICATE 

 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED and pursuant to that certain Stock Option Grant Notice and Stock
Option Agreement,                      hereby sells, assigns and transfers unto
                                         
                        (“Assignee”)
                                        ( 
                   ) shares of the Common Stock of Serena Software, Inc. (“Shares”), standing in the undersigned’s name on the books of said
corporation represented by Certificate No.              herewith and do hereby irrevocably constitute and appoint
                                        as
attorney-in-fact to transfer the said stock on the books of the within named issuer with full power of substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Stock Option
Agreement and the Plan, in connection with the reacquisition or transfer of the Shares issued to the undersigned pursuant to the Stock Option Agreement, and only to the extent that such Shares remain subject to the transferee’s rights to
acquire the Shares and other restrictions applicable under the Stock Option Agreement and the Plan. 
  

									
	Dated:	 	  
	 		 	Signature:	 	  

	 	 	 	  
 Print Name:
	 	  

 ATTACHMENT B 
 FORM OF JOINT ESCROW INSTRUCTIONS 

 JOINT ESCROW INSTRUCTIONS 
 [Date] 
 Edward Malysz 
 SVP,
General Counsel and Secretary 
 Serena Software, Inc. 
 1900 Seaport Blvd., 2nd Floor 
 Redwood City, CA 94063-5587 
 Dear Sir/Madam:

 As Escrow Agent for both Serena Software, Inc. (the “Company”), and the undersigned recipient of stock of the Company
(“Recipient”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of the “Plan” and “Stock Option Agreement” (as referenced in the Notice of Exercise to which this
document is attached), in accordance with the following instructions: 
 1. In the event that (i) certain stockholders of the Company
exercise their drag-along rights, (ii) the Company exercises its repurchase rights, (iii) the Company exercises its rights to require that the Shares be contributed to a trust as set forth in Section 13(b) of the Plan, or
(iv) the Company or any other Person exercises other contractual rights applicable to the Shares and in effect as of the date hereof, the Company or its assignee will give to Recipient and you a written notice specifying that the Shares of
stock shall be transferred as described in the Plan, the Recipient’s Stock Option Agreement, or other applicable governing documents. Recipient and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by
such notice in accordance with the terms of said notice. 
 At the closing, you are directed (a) to date any stock assignments necessary
for the transfer in question, (b) to fill in the number of Shares being transferred, and (c) to deliver same, together with the certificate evidencing the Shares of stock to be transferred, to the Company or other proper transferee.

 2. In the event that all applicable restrictions lapse, and when certain requirements are satisfied, the Company or its assignee will give
to Recipient and you a written notice specifying that the appropriate number of Shares shall be transferred to the Recipient along with any cash or in-kind dividends declared subsequent to the date hereof and which relate to such Shares. Recipient
and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 
 At the closing, you are directed to deliver a certificate evidencing the appropriate number of Shares, together with any cash or in-kind dividends declared subsequent to the date hereof and which relate to such
Shares, to the Recipient. 
 3. Recipient irrevocably authorizes the Company to deposit with you any certificates evidencing Shares of stock
to be held by you hereunder and any additions and substitutions to said Shares as specified in the Stock Option Grant Notice or the Stock Option Agreement. Recipient does hereby irrevocably constitute and appoint you as Recipient’s
attorney-in-fact and agent for the term of this escrow to execute with respect to such securities and other property all documents of assignment and/or transfer and all stock certificates necessary or appropriate to make all securities negotiable
and to complete any transaction herein contemplated. 
 4. This escrow shall terminate upon the date on which all contractual restrictions or
requirements set forth in the Plan or in the documents evidencing the restrictions applicable to the Shares lapse or are satisfied as determined by the Company. 
 5. If at the time of termination of this escrow you should have in your possession any documents, securities, or other property belonging to Recipient, you shall deliver all of same to any pledgee entitled thereto or,
if none, to Recipient and shall be discharged of all further obligations hereunder. 

 6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of
the parties hereto. 
 7. You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely
and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties or their assignees. You shall not be personally liable for any
act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Recipient while acting in good faith and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith.

 8. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or
corporation, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court,
you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or
found to have been entered without jurisdiction. 
 9. You shall not be liable in any respect on account of the identity, authority or rights
of the parties executing or delivering or purporting to execute or deliver the Stock Option Grant Notice or any documents or papers deposited or called for hereunder. 
 10. You shall not be liable for the outlawing of any rights under any statute of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 
 11. You shall be entitled to employ such legal counsel, including but not limited to Simpson Thacher & Bartlett LLP, and other experts as you
may deem necessary to advise you in connection with your obligations hereunder, and you may rely upon the advice of such counsel, and may pay such counsel reasonable compensation for such advice. 
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be SVP, General Counsel and Secretary of the Company or if you
shall resign by written notice to each party. In the event of any such termination, the Company may appoint any officer or assistant officer of the Company as successor Escrow Agent and Recipient hereby confirms the appointment of such successor or
successors as his attorney-in-fact and agent to the full extent of your appointment. 
 13. If you reasonably require other or further
instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
 14. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the securities, you may (but are not obligated to) retain in your possession
without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after
the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 
  

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 15. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively
given upon personal delivery or upon deposit in the United States mail (or upon deposit with another delivery service), with postage and fees prepaid, addressed to each of the other parties hereunto entitled at the following addresses, or at such
other addresses as a party may designate by ten (10) days’ written notice to each of the other parties hereto: 
  

			
	 COMPANY:
	  	Serena Software, Inc.
		  	 1900 Seaport Blvd., 2nd Floor
 Redwood City, CA 94063-5587

		  	Attn: General Counsel
	RECIPIENT:	  	
		
		  	
		
	ESCROW AGENT:	  	 Edward Malysz
 SVP, General Counsel and
Secretary
 Serena Software, Inc.
 1900 Seaport Blvd.,
2nd Floor
 Redwood City, CA
94063-5587

 16. By signing these Joint Escrow Instructions you become a party hereto only for the purpose of
said Joint Escrow Instructions; you do not become a party to the Notice of Exercise. 
 17. This instrument shall be binding upon and inure
to the benefit of the parties hereto, and their respective successors and permitted assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent and to any and all successor
Escrow Agents. It is understood and agreed that the Company may at any time or from time to time assign its rights under the Stock Option Agreement, the Notice of Exercise and these Joint Escrow Instructions in whole or in part. 
  

			
	
	Very truly yours,
	 SERENA SOFTWARE, INC.

		
	 By:
	 	  

	
	 RECIPIENT

	  
 [Participant’s Name]

  

			
	 ESCROW AGENT:

		
	 BY:
	 	  

		
	 NAME:
	 	  

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}]]