Document:

exv10w1

Exhibit 10.1

SECURITIES PURCHASE AGREEMENT

     THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of April 16, 2009, by and
among Alseres Pharmaceuticals, Inc., a Delaware corporation with headquarters located at 239 South
Street, Hopkinton, MA 01748 (the “Company”) and each investor identified on the signature pages
hereto (individually, an “Investor” and collectively, the “Investors).

PREAMBLE

     A. The Company and each Investor is executing and delivering this Agreement in reliance upon
the exemption from registration afforded by Section 4(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Rule 506 of Regulation D as promulgated by the United States Securities
and Exchange Commission (the “SEC”) under the Securities Act.

     B. Each Investor, severally and not jointly, wishes to purchase, and the Company wishes to
sell, upon the terms and conditions stated in this Agreement and for a purchase price of $25 per
share, that aggregate number of shares of Series F Convertible Preferred Stock, par value $0.01 per
share, of the Company (the “Series F Stock”), set forth on such Investor’s signature page to this
Agreement (which aggregate amount for all Investors together shall be up to 100,000 shares of
Series F Stock and shall collectively be referred to herein as the “Shares”).

     NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for
other good and valuable consideration the receipt and adequacy of which are hereby acknowledged,
the Company and the Investors, severally and not jointly, agree as follows:

ARTICLE I

DEFINITIONS

     1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the
following terms have the meanings indicated:

     “Affiliate” means any Person that, directly or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with a Person, as such terms are used in
and construed under Rule 144 under the Securities Act.

     “Agreement” has the meaning set forth in the Preamble.

     “Business Day” means any day other than Saturday, Sunday, any day which shall be a federal
legal holiday in the United States or any day on which banking institutions in The State of New
York are authorized or required by law or other governmental action to close.

     “Closing” has the meaning set forth in the in Section 2.1.

 

 

     “Closing Date” has the meaning set forth in Section 2.1.

     “Company” has the meaning set forth in the Preamble.

     “Company Counsel” means Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Company.

     “Common Stock” means shares of common stock, par value $0.01 per share, of the Company.

     “Convertible Securities” means any stock or securities (other than Options) convertible into
or exercisable or exchangeable for Common Stock.

     “Disclosure Materials” has the meaning set forth in Section 3.1(e).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “FINRA” has the meaning set forth in Section 3.2(c).

     “Investor” has the meaning set forth in the Preamble.

     “Lien” means any lien, charge, claim, security interest, encumbrance, right of first refusal
or other restriction.

     “Material Adverse Effect” means (i) a material adverse effect on the results of operations,
assets, business or financial condition of the Company and its subsidiaries taken as a whole on a
consolidated basis or (ii) material and adverse impairment of the Company’s ability to perform its
obligations under this Agreement, provided, that none of the following alone shall be deemed, in
and of itself, to constitute a Material Adverse Effect: (i) a change in the market price or
trading volume of the Common Stock or (ii) changes in general economic conditions or changes
affecting the industry in which the Company operates generally (as opposed to Company-specific
changes) so long as such changes do not have a disproportionate effect on the Company and its
subsidiaries taken as a whole.

     “Options” means any outstanding rights, warrants or options to subscribe for or purchase
Common Stock or Convertible Securities.

     “Restricted Shares” has the meaning set forth in Section 4.1(a).

     “SEC” has the meaning set forth in the Preamble.

     “SEC Reports” has the meaning set forth in Section 3.1(e).

     “Series F Stock” has the meaning set forth in the Preamble.

     “Shares” has the meaning set forth in the Preamble.

     “Securities Act” has the meaning set forth in the Preamble.

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     “Short Sales” has the meaning set forth in Section 3.2(i).

     “Trading Day” means (i) a day on which the Common Stock is traded on a Trading Market (other
than the OTC Bulletin Board), or (ii) if the Common Stock is not listed or quoted on a Trading
Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in the
over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not
listed or quoted on any Trading Market, a day on which the Common Stock is quoted in the
over-the-counter market as reported by the Pink Sheets LLC (or any similar organization or agency
succeeding to its functions of reporting prices); provided, that in the event that the Common Stock
is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a
Business Day.

     “Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange,
the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or the OTC
Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question.

     “Transaction” has the meaning set forth in Section 3.2(i).

     “Transfer Agent” means Continental Stock Transfer & Trust Company, or any successor transfer
agent for the Company.

ARTICLE II

PURCHASE AND SALE

     2.1 Closing. The Closing (the “Closing”) of the sale and purchase of the Shares under
this Agreement shall take place on the date hereof (the “Closing Date”), at the offices of Company
Counsel or remotely via the exchange of documents and signatures.

     2.2 Closing Deliveries.

          (a) At the Closing, the Company shall deliver or cause to be delivered to each Investor
evidence of a direct registration account in such Investor’s name as set forth on such Investor’s
signature page to this Agreement, and the deposit, by direct registration, into such account of the
number of Shares purchased by such Investor.

          (b) At the Closing, each Investor shall deliver or cause to be delivered to the Company the
purchase price set forth on such Investor’s signature page to this Agreement in United States
dollars and in immediately available funds, by wire transfer to an account designated in writing to
such Investor by the Company for such purpose.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     3.1 Representations and Warranties of the Company. The Company hereby represents and
warrants to the Investors as follows:

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          (a) Organization and Qualification. The Company is an entity duly organized, validly
existing and in good standing under the laws of the State of Delaware, with the requisite power and
authority to own and occupy its properties and to carry on its business as currently conducted.
The Company is not in violation of any of the provisions of its certificate of incorporation or
bylaws. The Company is duly qualified to do business and is in good standing as a foreign
corporation in each jurisdiction in which the nature of the business conducted or property owned by
it makes such qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

          (b) Authorization; Enforcement. The Company has the requisite corporate authority to
enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry
out its obligations hereunder. The execution and delivery of this Agreement by the Company and the
consummation by it of the transactions contemplated hereby have been duly authorized by all
necessary corporate action on the part of the Company and no further consent or action is required
by the Company, its Board of Directors or its stockholders. This Agreement has been (or upon
delivery will be) duly executed by the Company and, assuming the due authorization, execution and
delivery by the Investors, is, or when delivered in accordance with the terms hereof, will
constitute, the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally and (ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies.

          (c) No Conflicts. The execution, delivery and performance of this Agreement by the
Company and the consummation by the Company of the transactions contemplated hereby do not, and
will not, (i) conflict with or violate any provision of the Company’s certificate of incorporation
or bylaws, (ii) conflict with, or constitute a default (or an event that with notice or lapse of
time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other
agreement to which the Company is a party or by which any property or asset of the Company is
bound, or affected, except to the extent that such conflict, default, termination, amendment,
acceleration or cancellation right would not reasonably be expected to have a Material Adverse
Effect, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company is subject
(including, assuming the accuracy of the representations and warranties of the Investors set forth
in Section 3.2 hereof, federal and state securities laws and regulations and the rules and
regulations of any self-regulatory organization to which the Company or its securities are
subject), or by which any property or asset of the Company is bound or affected, except to the
extent that such violation would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

          (d) Issuance of Shares and Common Stock. The issuance, sale and delivery of the
Shares in accordance with this Agreement, and the issuance and delivery of the shares of Common
Stock issuable upon conversion of the Shares, have been duly authorized. The Shares

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when so issued, sold and delivered against payment therefor in accordance with the provisions
of this Agreement, and the shares of Common Stock issuable upon conversion of the Shares, when
issued upon such conversion, will be duly and validly issued, fully paid and nonassessable, free
and clear of all Liens and will not be subject to preemptive or similar rights of stockholders
(other than those provided for in this Agreement). The Company has reserved from its duly
authorized capital stock the number of shares of Common Stock issuable upon conversion of the
Shares.

          (e) SEC Reports. The Company has filed all documents required to be filed by it under
the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the twelve months
preceding the date hereof on a timely basis or has received a valid extension of such time of
filing and has filed any such documents prior to the expiration of any such extension and has filed
all documents required to be filed by it under the Exchange Act, including pursuant to Section
13(a) or 15(d) thereof, for the two years preceding the date hereof, such documents, together with
any materials filed or furnished by the Company under the Exchange Act, whether or not any such
reports were required being collectively referred to herein as the “SEC Reports” and, together with
this Agreement, the “Disclosure Materials”. As of their respective dates (or, if amended or
superseded by a filing prior to the Closing Date, then on the date of such filing), the SEC Reports
filed by the Company complied in all material respects with the requirements of the Securities Act
and the Exchange Act and the rules and regulations of the SEC promulgated thereunder, and none of
the SEC Reports, when filed (or, if amended or superseded by a filing prior to the Closing Date,
then on the date of such filing) by the Company, contained any untrue statement of a material fact
or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading.

          (f) Capitalization. The authorized capital stock of the Company (immediately prior to
the Closing) consists of 80,000,000 shares of Common Stock, of which 23,055,645 were issued and
outstanding as of such date and 1,000,000 shares of preferred stock, $.01 par value per share, of
which 25,000 shares are designated as Series A Convertible Preferred Stock, 500,000 shares are
designated as Series D Convertible Preferred Stock, 800 shares are designated as Series E
Convertible Preferred Stock and 200,000 shares are designated as Series F Stock, of which 40,000
shares were issued and outstanding as of such date. All outstanding shares of capital stock are
duly authorized, validly issued, fully paid and nonassessable and have been issued in compliance in
all material respects with all applicable securities laws. Except as disclosed in or contemplated
the SEC Reports, the Company does not have outstanding any other Options, script rights to
subscribe to, calls or commitments relating to, or securities, rights or obligations convertible
into or exercisable or exchangeable for, or entered into any agreement giving any Person any right
to subscribe for or acquire, any shares of Common Stock, or securities or rights convertible or
exchangeable into shares of Common Stock. Except as set forth in the SEC Reports, and except for
customary adjustments as a result of stock dividends, stock splits, combinations of shares,
reorganizations, recapitalizations, reclassifications or other similar events, there are no
anti-dilution or price adjustment provisions contained in any security issued by the Company (or in
any agreement providing rights to security holders) and the issuance and sale of the Securities
will not obligate the Company to issue shares of Common Stock or other securities to any Person
(other than the Investors) and will not result in a right of

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any holder of the Company’s securities to adjust the exercise, conversion, exchange or reset
price under such securities.

          (g) Compliance. Except as would not, individually or in the aggregate, reasonably be
expected to have or result in a Material Adverse Effect, (i)  the Company is not in default under
or in violation of (and no event has occurred that has not been waived that, with notice or lapse
of time or both, would result in a default by the Company under), nor has the Company received
written notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it
or any of its properties is bound (whether or not such default or violation has been waived), (ii) 
the Company is not in violation of any order of any court, arbitrator or governmental body, and
(iii)  the Company is not in violation of any statute, rule or regulation of any governmental
authority.

     3.2 Representations and Warranties of the Investors. Each Investor hereby, as to
itself only and for no other Investor, represents and warrants to the Company as follows:

          (a) Organization; Authority. If such Investor is an entity, such Investor is an
entity duly organized, validly existing and in good standing under the laws of the jurisdiction of
its organization with the requisite corporate, partnership or other power and authority to enter
into and to consummate the transactions contemplated by this Agreement and otherwise to carry out
its obligations hereunder. The purchase by such Investor of the Shares hereunder has been duly
authorized by all necessary corporate, partnership or other action on the part of such Investor.
This Agreement has been duly executed and delivered by such Investor and constitutes the valid and
binding obligation of such Investor, enforceable against it in accordance with its terms, except
(i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of
creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and
contribution provisions may be limited by applicable law.

          (b) No Public Sale or Distribution. Such Investor is acquiring the Shares and upon
conversion of the Shares will acquire the Common Stock issuable upon conversion thereof, for its
own account for investment and not with a view towards, or for resale in connection with, the
public sale or distribution thereof, and such Investor does not have a present intention to effect
any distribution of the Shares or such Common Stock to or through any person or entity;
provided, however, that by making the representations herein, such Investor does
not agree to hold any of the Shares or such Common Stock for any minimum or other specific term and
reserves the right to dispose of the Shares and such Common Stock at any time in accordance with or
pursuant to a registration statement or an exemption under the Securities Act.

          (c) Investor Status. At the time such Investor was offered the Shares, it was, and on
the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.
Such Investor is not a registered broker dealer registered under Section 15(a) of the Exchange
Act, nor required to be registered as such, or a member of The Financial Industry Regulatory
Authority (“FINRA”) or an entity engaged in the business of being a broker dealer. Such Investor
is not affiliated with any broker dealer registered under Section 15(a) of the

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Exchange Act, or a member of FINRA or an entity engaged in the business of being a broker
dealer.

          (d) General Solicitation. Such Investor is not purchasing the Shares as a result of
any advertisement, article, notice or other communication regarding the Shares published in any
newspaper, magazine or similar media, broadcast over television or radio, disseminated over the
Internet or presented at any seminar or any other general solicitation or general advertisement.

          (e) Experience of Such Investor. Such Investor, either alone or together with its
representatives has such knowledge, sophistication and experience in business and financial matters
so as to be capable of evaluating the merits and risks of the prospective investment in the Shares,
including the risk of total loss of such Investor’s investment, and has so evaluated the merits and
risks of such investment. Such Investor understands that it must bear the economic risk of this
investment in the Shares indefinitely, and is able to bear such risk and is able to afford a
complete loss of such investment. Such Investor understands that the market price of the Common
Stock can be volatile and that no representation is being made as to the future value of the Shares
or the Common Stock.

          (f) Access to Information. Such Investor acknowledges that it has reviewed the
Disclosure Materials and has been afforded: (i) the opportunity to ask such questions as it has
deemed necessary of representatives of the Company concerning the terms and conditions of the
offering of the Shares and the merits and risks of investing in the Shares; (ii) access to
information about the Company and each of its subsidiaries and their respective financial
condition, results of operations, business, properties, management and prospects sufficient to
enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that
is necessary to make an informed investment decision with respect to the investment. Neither such
inquiries nor any other investigation conducted by or on behalf of such Investor or its
representatives or counsel shall modify, amend or affect such Investor’s right to rely on the
Company’s representations and warranties contained herein. Such Investor acknowledges that no
third party has made or will make any representation or warranty to such Investor regarding the
adequacy or completeness for such Investor’s purpose of the information such Investor has
requested. Such Investor acknowledges receipt of copies of the SEC Reports filed through the date
hereof.

          (g) No Governmental Review. Such Investor understands that no United States federal
or state agency or any other government or governmental agency has passed on or made any
recommendation or endorsement of the Shares or the fairness or suitability of the investment in the
Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.

          (h) No Conflicts. The execution, delivery and performance by such Investor of this
Agreement and the consummation by such Investor of the transactions contemplated hereby will not
(i) result in a violation of the organizational documents, if any, of such Investor or
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination, amendment,

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acceleration or cancellation of, any agreement, indenture or instrument to which such Investor
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws) applicable to such Investor, except in the case of
clauses (ii) and (iii) above, for such that are not material and do not otherwise affect the
ability of such Investor to consummate the transactions contemplated hereby.

          (i) Prohibited Transactions; Confidentiality. Such Investor, directly or indirectly,
has not and no Person acting on behalf of or pursuant to any understanding with such Investor, has
engaged in any purchases or sales in the securities, including derivatives, of the Company
(including, without limitation, any Short Sales (a “Transaction”) involving any of the Company’s
securities) since the time that such Investor was first contacted by the Company or any other
Person regarding the investment in the Company contemplated by this Agreement. Such Investor
covenants that neither it nor any Person acting on its behalf or pursuant to any understanding with
such Investor will engage, directly or indirectly, in any Transactions in the securities of the
Company (including Short Sales) prior to the time the transactions contemplated by this Agreement
are publicly disclosed. “Short Sales” include, without limitation, all “short sales” as defined in
Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and
indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps,
derivatives and similar arrangements (including on a total return basis), and sales and other
transactions through non-U.S. broker-dealers or foreign regulated brokers.

          (j) Restricted Securities. Such Investor understands that the Shares (and the shares
of Common Stock into which the Shares are convertible) are characterized as “restricted securities”
under the U.S. federal securities laws inasmuch as they are being acquired from the Company in a
transaction not involving a public offering and that under such laws and applicable regulations
such securities may be resold without registration under the Securities Act only in certain limited
circumstances and that the Company is relying upon the truth and accuracy of, and such Investor’s
compliance with, representations, warranties, agreements, acknowledgements, understandings of such
Investor set forth herein in order to determine the availability of such exemptions of such
Investor and the eligibility of such Investor to acquire the Shares.

          (k) Legends. It is understood that, except as provided in Section 4.1(b) of
this Agreement, certificates evidencing the Restricted Shares may bear the legend set forth in
Section 4.1(c).

          (l) No Legal, Tax or Investment Advice. Such Investor understands that nothing in
this Agreement or any other materials presented by or on behalf of the Company to such Investor in
connection with the purchase of the Shares constitutes legal, tax or investment advice. Such
Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has
deemed necessary or appropriate in connection with his purchase of the Shares.

          (m) Offering Documents. Such Investor understands that other than this Agreement and
the SEC Reports, no disclosure or offering document will be provided or prepared in connection with
the offer and sale of the Shares contemplated hereby.

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          (n) Restrictions on Shares. Such Investor acknowledges that the Company has
represented that no action has been or will be taken in any jurisdiction outside the United States
by the Company that would permit an offering of the Shares, or possession or distribution of
offering materials in connection with the issuance of the Shares, in any jurisdiction outside the
United States where action for that purpose is required. If such Investor is located or domiciled
outside the United States, it agrees to comply with all applicable laws and regulations in each
foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its
possession or distributes any offering material, in all cases at its own expense.

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ARTICLE IV

OTHER AGREEMENTS OF THE PARTIES

     4.1 Transfer Restrictions.

     (a) Restricted Shares. “Restricted Shares” means (a) the Shares, (b) the shares of
Common Stock issued or issuable upon conversion of the Shares, and (c) any other shares of capital
stock of the Company issued in respect of such shares (as a result of stock splits, stock
dividends, reclassifications, recapitalizations or similar events); provided,
however, that shares of Common Stock which are Restricted Shares shall cease to be
Restricted Shares (x) upon any sale pursuant to a registration statement under the Securities Act,
Section 4(1) of the Securities Act or Rule 144 under the Securities Act or (y) at such time as (i)
a period of at least one year, as determined in accordance with paragraph (d) of Rule 144 under the
Securities Act, has elapsed since the later of the date the Restricted Shares were acquired from
the Company or an Affiliate of the Company and (ii) they become eligible for sale under Rule
144(b)(1)(i) under the Securities Act.

     (b) Requirements for Transfer. Restricted Shares shall not be sold or transferred
unless either (i) they first shall have been registered under the Securities Act or (ii) the
Company first shall have been furnished with an opinion of legal counsel, reasonably satisfactory
to the Company, to the effect that such sale or transfer is exempt from the registration
requirements of the Securities Act.

     (c) Legend. Each certificate representing Restricted Shares shall bear a legend
substantially in the following form:

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SHARES ARE REGISTERED
UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY IS OBTAINED TO
THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.”

     The foregoing legend shall be removed from the certificates representing any Restricted
Shares, at the request of the holder thereof, at such time as (a) a period of at least one year, as
determined in accordance with paragraph (d) of Rule 144 under the Securities Act, has elapsed since
the later of the date the Restricted Shares were acquired from the Company or an affiliate of the
Company, and (b) the Restricted Shares become eligible for resale pursuant to Rule 144(b)(1)(i)
under the Securities Act.

     4.2 Furnishing of Information. Until the date that any Investor may sell all of its
Shares (or the shares of Common Stock into which the Shares have at such time converted) under Rule
144 of the Securities Act (or any successor provision), the Company covenants to use its reasonable
best efforts to timely file (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to the
Exchange Act. The Company further covenants that it will take such further

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action as any Investors holding shares (or the shares of Common Stock into which the Shares
have at such time converted) may reasonably request, to the extent required from time to time to
enable such Investor to sell such Shares (or the shares of Common Stock into which the Shares have
at such time converted) without registration under the Securities Act.

     4.3 Integration. The Company shall not, and shall use its reasonable best efforts to
ensure that no Affiliate thereof shall, sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be
integrated with the offer or sale of the Shares in a manner that would require the registration
under the Securities Act of the sale of the Shares to the Investors.

     4.4 Reservation of Securities. At all times during which Shares remain outstanding,
the Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance
pursuant to this Agreement in such amount as may be required to fulfill its obligations to issue
the shares of Common Stock issuable upon the conversion of the Shares. In the event that at any
time the then authorized shares of Common Stock are insufficient for the Company to satisfy its
obligations to issue such shares of Common Stock, the Company shall promptly take such actions as
may be required to increase the number of authorized shares.

     4.5 Treatment of Non-Public Information. Each Investor covenants and agrees with the
Company (a) to hold the existence, terms and conditions of the transactions contemplated by this
Agreement in confidence and not to disclose the same to any other person until such time as the
Company files with the SEC a Current Report on Form 8-K disclosing the offering or publicly
announces the offering, and (b) to hold all matters disclosed to it by the Company (other than any
matters included in the SEC Reports) in confidence and not to disclose the same to any other person
until such time as the Company files with the SEC a report publicly disclosing such information.
Each Investor understands that the federal securities laws impose restrictions on trading based on
information regarding the transactions contemplated by this Agreement.

ARTICLE V

MISCELLANEOUS

     5.1 Fees and Expenses. Each party hereto shall pay the fees and expenses of its
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this
Agreement. The Investors shall pay, and hold the Company harmless against, any liability, loss or
expense (including, without limitation, reasonable attorney’s fees and out-of-pocket expenses)
arising in connection with any claim for fees from persons engages by any Investor or their
investment advisors arising out of the issuance of the Shares pursuant to this Agreement. The
Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in
connection with the sale and issuance of the Securities.

     5.2 Entire Agreement. This Agreement contains the entire understanding of the parties
with respect to the subject matter hereof and supersedes all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into
such document. At or after the Closing, and without further consideration, the

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Company will execute and deliver to the Investors such further documents as may be reasonably
requested in order to give practical effect to the intention of the parties under this Agreement.

     5.3 Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given and effective on
the earliest of (a) the date of transmission, if such notice or communication is delivered via
facsimile or email at the facsimile number or email address specified in this Section 5.3
prior to 6:30 p.m. (Boston time) on a Trading Day, (b) the next Trading Day after the date of
transmission, if such notice or communication is delivered via facsimile or email at the facsimile
number or email address specified in this Section 5.3 on a day that is not a Trading Day or
later than 6:30 p.m. (Boston time) on any Trading Day, (c) the Trading Day following the date of
deposit with a nationally recognized overnight courier service, or (d) upon actual receipt by the
party to whom such notice is required to be given. The addresses, facsimile numbers and email
addresses for such notices and communications are those set forth on the signature pages hereof, or
such other address or facsimile number as may be designated in writing hereafter, in the same
manner, by any such Person.

     5.4 Amendments; Waivers. No provision of this Agreement may be waived or amended
except in a written instrument signed, in the case of an amendment, by the Company and the
Investors holding a majority of the shares of Common Stock issued or issuable upon conversion of
the Shares (voting as a single class and on an as-converted basis) or, in the case of a waiver, by
the party against whom enforcement of any such waiver is sought. No waiver of any default with
respect to any provision, condition or requirement of this Agreement shall be deemed to be a
continuing waiver in the future or a waiver of any subsequent default or a waiver of any other
provision, condition or requirement hereof, nor shall any delay or omission of any party to
exercise any right hereunder in any manner impair the exercise of any such right.

     5.5 Construction. The headings herein are for convenience only, do not constitute a
part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.
The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

     5.6 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties and their successors and permitted assigns. The Company may not assign this
Agreement or any rights or obligations hereunder without the prior written consent of the
Investors. Any Investor may assign its rights under this Agreement to any Person to whom such
Investor assigns or transfers any Shares (or the shares of Common Stock issued upon conversion of
the Shares), provided (a) such transferor agrees in writing with the transferee or assignee to
assign such rights, and a copy of such agreement is furnished to the Company after such assignment,
(b) the Company is furnished with written notice of (i) the name and address of such transferee or
assignee and (ii) the number of Shares (or the shares of Common Stock issued upon conversion of the
Shares) being transferred or assigned, (c) following such transfer or assignment, the further
disposition of such shares by the transferee or assignee is restricted under the Securities Act and
applicable state securities laws, (d) such transferee agrees in writing to be bound, with respect
to the transferred Shares (or the shares of Common Stock issued upon conversion of the Shares), by
the provisions hereof that apply to the “Investor” and (e) such transfer shall have been made to an
“accredited investor” as that term is defined in Rule 501(a)

-12-

 

of Regulation D of the Securities Act and in accordance with the applicable requirements of
this Agreement and with all laws applicable thereto.

     5.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the
parties hereto and their respective successors and permitted assigns and is not for the benefit of,
nor may any provision hereof be enforced by, any other Person.

     5.8 Governing Law; Venue; Waiver of Jury Trial. THE CORPORATE LAWS OF THE STATE OF
DELAWARE SHALL GOVERN ALL ISSUES CONCERNING THE RELATIVE RIGHTS OF THE COMPANY AND ITS
STOCKHOLDERS. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION
OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
DELAWARE. THE COMPANY AND THE INVESTORS HEREBY IRREVOCABLY SUBMIT TO THE NON-EXCLUSIVE
JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE STATE OF DELAWARE FOR THE ADJUDICATION
OF ANY DISPUTE BROUGHT BY THE COMPANY OR ANY INVESTOR HEREUNDER, IN CONNECTION HEREWITH OR WITH ANY
TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF
ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVE, AND AGREE NOT TO ASSERT IN ANY
SUIT, ACTION OR PROCEEDING BROUGHT BY THE COMPANY OR ANY INVESTOR, ANY CLAIM THAT IT IS NOT
PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, OR THAT SUCH SUIT, ACTION OR PROCEEDING
IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO
PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA
REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE
ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL
CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN
SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. THE
COMPANY AND THE INVESTORS HEREBY WAIVE ALL RIGHTS TO A TRIAL BY JURY.

     5.9 Survival. The representations and warranties, agreements and covenants contained
herein shall survive the Closing until the date that is one year after the Closing Date (at which
time they shall expire and be of no further force or effect).

     5.10 Execution. This Agreement may be executed in two or more counterparts, all of
which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature
is delivered by facsimile transmission or email attachment, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the
same force and effect as if such facsimile or email-attached signature page were an original
thereof.

-13-

 

     5.11 Severability. If any provision of this Agreement is held to be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions
of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

     5.12 Replacement of Certificates. If any certificate or instrument evidencing any
Shares or the shares of Common Stock issued upon conversion of the Shares is mutilated, lost,
stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for
and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction and the execution by the holder thereof of a customary lost certificate
affidavit of that fact and an agreement to indemnify and hold harmless the Company for any losses
in connection therewith. The applicants for a new certificate or instrument under such
circumstances shall also pay any reasonable third-party costs associated with the issuance of such
replacement.

[SIGNATURE PAGES FOLLOW]

-14-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated above.

	 	 	 	 	 
	 	ALSERES PHARMACEUTICALS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Kenneth L. Rice Jr. 	 
	 	 	Title:  	EVP & CFO 	 
	 

Address for Notice:

239 South Street

Hopkinton, MA 01748

Tel:       (508) 497-2360

Fax:      (508) 497-9964

Attn:     Chief Executive Officer

With a copy to:

Wilmer Cutler Pickering Hale and Dorr LLP

60 State Street

Boston, Massachusetts 02109

Tel       (617) 526-6439

Fax:      (617) 526-5000

Attn:     Philip Rossetti, Esq.

 

Investor Signature Page

     By its execution and delivery of this signature page, the undersigned Investor hereby joins in
and agrees to be bound by the terms and conditions of the Securities Purchase Agreement dated as of
April 16, 2009 (the “Purchase Agreement”) by and among Alseres Pharmaceuticals, Inc. and the
Investors (as defined therein), as to the number of shares of Series F Convertible Preferred Stock
(“Shares”) set forth below, and authorizes this signature page to be attached to the Purchase
Agreement or counterparts thereof.

	 	 	 
	Name of Investor:
	 
	 	 
	 
	 
	 	 
	By:
	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:

	 	 	 
	Address for Notice:
	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	 
	 
	 	 
	 
	 	 
	 

	 	 	 
	Telephone No.:
	 	 
	 

	 	 

	 	 	 
	Facsimile No.:
	 	 
	 

	 	 

	 	 	 
	Email Address:
	 	 
	 

	 	 

	 	 	 
	Number of Shares:
	 	 
	 

	 	 

	 	 	 
	Aggregate Purchase Price: $
	 	 
	 

	 	 

-2-exv10w1

EXHIBIT 10.1

RESTRICTED STOCK UNIT AWARD AGREEMENT

     THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (“Agreement”) is made as of ___,
20___ (the
“Grant Date”) by and between Orbitz Worldwide, Inc., a Delaware corporation (“Orbitz”), and the
employee whose name is set forth on the signature page hereto (“Employee”).

RECITALS

     Orbitz has adopted the Orbitz Worldwide, Inc. 2007 Equity and Incentive Plan (as may be
amended from time to time, the “Plan”), a copy of which is attached hereto as Exhibit A.

     In connection with Employee’s employment by Orbitz or one of its subsidiaries (collectively,
the “Company”), Orbitz intends concurrently herewith to grant the RSUs (as defined below) to
Employee.

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual promises set forth
in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties to this Agreement, intending to be legally bound, agree
as follows:

SECTION 1

DEFINITIONS

     1.1. Definitions. Capitalized terms not otherwise defined herein shall have the
meanings ascribed to them in the Plan. In addition to the terms defined in the Plan, the terms
below shall have the following respective meanings:

     “Agreement” has the meaning specified in the Preamble.

     “Board” means the board of directors of Orbitz (or, if applicable, any committee of the
Board).

     “Cause” shall have the meaning assigned such term in the employment agreement entered into
between Orbitz and Employee, dated January 6, 2009 (the “Employment Agreement”).

     “Code Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and
the rules, regulations and guidance promulgated thereunder.

     “Company” has the meaning specified in the Recitals.

     “Constructive Termination” shall have the meaning set forth in the Employment Agreement.

     “Disability” shall have the meaning assigned such term in the Employment Agreement.

 

 

     “Employee” has the meaning specified in the Preamble.

     “Grant Date” has the meaning specified in the Preamble.

     “Orbitz” has the meaning specified in the Preamble.

     “Plan” has the meaning specified in the Recitals.

     “Reacquisition” shall mean a reacquisition of the Company, directly or indirectly, by
Travelport Limited.

     “Share” means one share of the common stock, par value $0.01 per share, of Orbitz.

SECTION 2

GRANT OF RESTRICTED STOCK UNITS

     Subject to the terms and conditions hereof, Orbitz hereby grants to Employee, as of the Grant
Date, ________ restricted stock units (the “RSUs”). Each RSU granted hereunder shall represent the
right to receive from the Company, on the terms and conditions described herein, in the sole
discretion of the Board, either (i) one Share as of the date of vesting or (ii) cash equal to the
fair market value (as defined in the Plan) of one Share as of the date of vesting (and, as provided
herein, distributions thereon). Employee shall have no further rights with respect to any RSU that
is paid in Shares or cash, or that is forfeited or terminates pursuant to this Agreement or the
Plan.

SECTION 3

TERMS OF RESTRICTED STOCK UNITS

     3.1. Vesting Schedule.

          (a) Subject to the provisions of this Agreement and the Plan and Employee’s continued
employment with the Company on the applicable vesting dates, 25% of the RSUs (rounded up to the
next whole share) shall vest on the first, second, third and fourth anniversaries of the Grant Date
(the “Normal Vesting Dates”); provided, however, that, except as provided in
Section 3 below, no vesting shall occur in connection with or after the termination of Employee’s
employment with the Company for any reason, and any unvested RSUs shall be immediately canceled by
the Company without consideration after termination of Employee’s employment with the Company for
any reason.

          Subject to Section 5.2, settlement of vested RSUs (after giving effect to the accelerated
vesting provisions below in Section 3) shall occur on the applicable Normal Vesting Date or, if the
Employee’s “separation from service” within the meaning of Code Section 409A described in Section
3.1 below occurs earlier than an applicable Normal Vesting Date, on the 90th calendar day following
such separation.

2

 

          (b) Notwithstanding any other provision of this Agreement, in the event Employee’s employment
with the Company is terminated without Cause, or Employee resigns from the Company as a result of a
Constructive Termination, and such termination or resignation is in connection with, or within
twenty-four (24) months following a Change in Control or Employee’s employment is terminated by the
Company without Cause or if Employee resigns as a result of a Constructive Termination and a Change
in Control is consummated within ninety (90) days following such termination of employment or
resignation and such termination of employment or resignation as a result of a Constructive
Termination is in contemplation of a Change in Control, then, subject to Employee’s execution and
delivery of a separation and release agreement that is no longer subject to revocation under
applicable law, substantially in the form attached hereto as Exhibit B (the “General
Release”) and compliance with all terms and conditions contained herein, then the RSUs shall fully
vest as of the date of such termination or resignation and, subject to Section 5.2, shall be
settled on the 90th calendar day following the Employee’s “separation from service” within the
meaning of Code Section 409A.

          (c) Notwithstanding the foregoing, in the event Employee’s employment is terminated by the
Company without Cause or for Disability, terminates as a result of Employee’s death, or if Employee
resigns as a result of a Constructive Termination, subject to, except in the case of death or
Disability, Employee’s execution and delivery of the General Release, a number of previously
unvested RSUs shall vest equal to the number of RSUs that would have vested in the eighteen
(18)-month period following such termination if Employee had remained in employment and, subject to
Section 5.2, such vested RSUs shall be settled on the 90th calendar day following the Employee’s
“separation from service” within the meaning of Code Section 409A.

          (d) In the event Employee resigns his employment pursuant to Section 9(e) of the Employment
Agreement following the Reacquisition, then, subject to Employee’s execution and delivery of the
General Release, a number of previously unvested RSUs shall vest equal to the number of RSUs that
would have vested in the twelve (12)-month period following such termination if Employee had
remained in employment and, subject to Section 5.2, such vested RSUs shall be settled on the 90th
calendar day following the Employee’s “separation from service” within the meaning of Code Section
409A.

          (e) Notwithstanding the foregoing, if Executive’s employment is terminated by the Company
without Cause, or if Executive resigns as a result of a Constructive Termination (other than the
diminution of duties or responsibilities directly resulting from the Reacquisition and the Company
becoming a non-publicly traded subsidiary of Travelport Limited), and such termination or
resignation is in connection with, or within twelve (12) months following the Reacquisition or
Executive’s employment is terminated by the Company without Cause or if Executive resigns as a
result of a Constructive Termination and the Reacquisition occurs within ninety (90) days following
such termination of employment or resignation and such termination of employment or resignation is
in contemplation of the Reacquisition, then, subject to Executive’s execution and delivery of the
General Release and compliance with all terms and conditions contained herein, then the RSUs shall
fully vest as of the date of such termination or resignation and, subject to Section 5.2, shall be
settled on the 90th calendar day following the Employee’s “separation from service” within the
meaning of Code Section 409A.

3

 

          (f) The Board may determine at any time before the RSUs terminate that the RSUs or any portion
thereof shall vest at any time. In the event of such accelerated vesting, such vested RSUs shall
be settled on the Normal Vesting Dates (as if vesting had not been accelerated) or, if the
Employee’s “separation from service” within the meaning of Code Section 409A occurs earlier than an
applicable Normal Vesting Date, on the 90th calendar day following such separation.

     3.2. Dividends. Employee shall be entitled to be credited with dividend equivalents
with respect to the RSUs, calculated as follows: on each date that a cash dividend is paid by
Orbitz while the RSUs are outstanding, Employee shall be credited with an additional number of RSUs
equal to the number of whole Shares (valued at fair market value (as determined by the Board in
good faith) on such date) that could be purchased on such date with the aggregate dollar amount of
the cash dividend that would have been paid on the RSUs had the RSUs been issued as Shares. The
additional RSUs credited under this Section shall be subject to the same terms and conditions
applicable to the RSUs originally awarded hereunder, including, without limitation, for purposes of
vesting, settlement and forfeiture and crediting of additional dividend equivalents.

     3.3. Termination of Employment. Subject to Section 3.1, if Employee’s employment with
the Company terminates for any reason, the RSUs, to the extent not then vested, shall be
immediately canceled by the Company without consideration.

     3.4. Limited Transferability. The RSUs shall be neither transferable nor assignable
by Employee other than by will or the laws of inheritance following Employee’s death;
provided, however, that Employee may designate one or more persons as the
beneficiary or beneficiaries of the RSUs, in which case the RSUs shall, in accordance with such
designation, automatically be transferred to such beneficiary or beneficiaries upon Employee’s
death while holding the RSUs. Such beneficiary or beneficiaries shall take the transferred RSUs
subject to all the terms and conditions of this Agreement.

     3.5. Forfeiture. Notwithstanding anything herein to the contrary, in the event (X)
Employee is terminated for Cause pursuant to Section 9(a) of the Employment Agreement and such
termination for Cause is based on Employee’s willful misconduct involving a financial matter of the
Company, including, without limitation, Employee purposefully or knowingly making a false
certification to the Company pertaining to its financial statements, (Y) of Employee’s material
breach of the restrictive covenants set forth in Sections 10 or 11 of the Employment Agreement or
(Z) of Employee’s material violation of the Company’s Code of Conduct or Code of Ethics, the Board
may determine in good faith that:

          (i) the RSUs, to the extent not then vested, shall be immediately canceled by Orbitz without
consideration,

          (ii) Employee shall repay to Orbitz any cash received pursuant to the vesting of any RSU
within two (2) years prior to (x) such termination of employment for Cause or (y)  such breach, as
applicable,

4

 

          (iii) any Shares acquired pursuant to the vesting of any RSU within two (2) years prior to the
date of Board determination of (X), (Y), or (Z) above and then held by Employee shall be forfeited
and returned to Orbitz without consideration, and

          (iv) in the event Employee has sold or otherwise disposed of Shares acquired pursuant to the
vesting of any RSU within two (2) years prior to the date of Board determination of (X), (Y), or
(Z) above, Employee shall pay to Orbitz the greater of (x) any proceeds received from such sale or
other disposition, or (y) the fair market value (as determined by the Board in good faith) of such
Shares as of the date of such Board determination.

          Notwithstanding the foregoing, in the event Employee is terminated for Cause pursuant to
Section 9(a) of the Employment Agreement and such termination for Cause is based on conduct other
than Employee’s willful misconduct involving a financial matter of the Company, the Board may
determine in good faith that the provisions of Section 3.5(i) through (iv) shall apply to the
extent necessary for the Company to recover any damages it incurs as a result of such conduct.

SECTION 4

CERTAIN
COVENANTS 

     Employee hereby agrees and covenants to perform all of his
obligations set forth in Sections 10 and 11 of the Employment Agreement (which are incorporated by
reference hereby) and acknowledges that Employee’s obligations set forth in Sections 10 and 11 of
the Employment Agreement constitute a material inducement for the Company’s grant of the
RSUs to Employee. The provisions of this Section 4 shall survive the termination of
Employee’s employment with the Company for any reason.

SECTION 5

MISCELLANEOUS

     5.1. Tax Issues and Withholding. Employee acknowledges that he or she is relying
solely on his or her own tax advisors and not on any statements or representations of the Company
or any of its agents. Employee understands that he or she (and not Orbitz) shall be responsible
for all tax liability that shall arise as a result of the settlement of RSUs contemplated by this
Agreement. Orbitz’s obligations under this Agreement shall be subject to all applicable tax and
other withholding requirements, and Orbitz shall, to the extent permitted by law, have the right to
deduct any withholding amounts from any payment or transfer of any kind otherwise due to Employee
(including by withholding shares).

     5.2. Compliance with IRC Section 409A.

          (a) The intent of the parties is that payments under this Agreement comply with or be exempt
from Code Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be
interpreted to be in compliance therewith.

          (b) If Employee notifies the Company (with specificity as to the reason therefor) that
Employee believes that any provision of this Agreement would cause Employee to incur any
additional tax or interest under Code Section 409A and the Company concurs with

5

 

such belief or the
Company (without any obligation whatsoever to do so) independently makes such determination, the
Company shall, after consulting with Employee, reform such provision to try to comply with Code
Section 409A through good faith modifications to the minimum extent reasonably appropriate to
conform with Code Section 409A. To the extent that any provision hereof is modified in order to
comply with or be exempt from Code Section 409A, such modification shall be made in good faith and
shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit
to Employee and the Company of the applicable provision without violating the provisions of Code
Section 409A.

          (c) Notwithstanding anything herein to the contrary, if at the time of Employee’s separation
from service (within the meaning of Code Section 409A) Employee is a “specified employee” as
defined in Code Section 409A and the deferral of the commencement of any payments otherwise payable
hereunder as a result of such separation is necessary under Code Section 409A(a)(2)(B)(i) in order
to prevent any accelerated or additional tax under Code Section 409A, then the Company will defer
the commencement of the payment of any such payments hereunder (without any reduction in such
payments ultimately paid or provided to Employee) until the date that is six (6) months following
Employee’s separation from service (or the earliest date as is permitted under Code Section 409A)
(the “Delay Period”). Upon the expiration of the Delay Period, all payments delayed pursuant to
this Section 5.2 (whether they would have otherwise been payable in a single lump sum or in
installments in the absence of such delay) shall be paid or reimbursed to Employee in a lump sum on
the first business day after the end of the Delay Period, and any remaining payments due under this
Agreement shall be paid or provided in accordance with the normal payment dates specified for them
herein.

          (d) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a “separation from service” within the
meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references
to a “termination,” “termination of employment” or like terms shall mean “separation from service.”

     5.3. Employment of Employee. Nothing in this Agreement confers upon Employee the
right to continue in the employ of the Company, entitles Employee to any right or benefit not set
forth in this Agreement or interferes with or limits in any way the right of the Company to
terminate Employee’s employment.

     5.4. Stockholder Rights. Employee shall not have any stockholder rights (including
the right to distributions or dividends) with respect to the Shares subject to the RSUs until
Employee has become a holder of record of the Shares issued upon vesting; provided that
Employee may be entitled to the benefits set forth in Section 3.2 of this Agreement.

     5.5. Equitable Adjustments. The RSUs shall be subject to adjustment as provided in
Section 5 of the Plan.

     5.6. Calculation of Benefits. Neither the RSUs nor any Shares issued pursuant to the
vesting of the RSUs shall be deemed compensation or taken into account for purposes of determining
benefits or contributions under any retirement or other qualified or nonqualified 

6

 

plans of the
Company or any employment/severance or change in control agreement to which Employee is a party and
shall not affect any benefits, or contributions to benefits, under any other benefit plan of any
kind or any applicable law or regulation now or subsequently in effect under which the availability
or amount of benefits or contributions is related to level of compensation. It is specifically
agreed by the parties that any benefits that Employee may receive or derive from this Agreement
will not be considered as salary for calculating any severance payment that may be payable to
Employee in the event of a termination of his or her employment.

     5.7. Remedies.

          (a) The rights and remedies provided by this Agreement are cumulative and the use of any one
right or remedy by any party shall not preclude or waive its right to use any or all other
remedies. These rights and remedies are given in addition to any other rights the parties may have
at law or in equity.

          (b) Except where a time period is otherwise specified, no delay on the part of any party in
the exercise of any right, power, privilege or remedy hereunder shall operate as a waiver thereof,
nor shall any exercise or partial exercise of any such right, power, privilege or remedy preclude
any further exercise thereof or the exercise of any right, power, privilege or remedy.

     5.8. Waivers and Amendments. The respective rights and obligations of Orbitz and
Employee under this Agreement may be waived (either generally or in a particular instance, either
retroactively or prospectively, and either for a specified period of time or indefinitely) by such
respective party. This Agreement may be amended only with the written consent of a duly authorized
representative of Orbitz and Employee.

     5.9. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Illinois.

     5.10. CONSENT TO JURISDICTION.

          (a) EACH OF THE PARTIES HERETO HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ALL STATE AND
FEDERAL COURTS LOCATED IN THE STATE OF ILLINOIS, AS WELL AS TO THE JURISDICTION OF ALL COURTS TO
WHICH AN APPEAL MAY BE TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER
PROCEEDING ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREBY, INCLUDING, WITHOUT LIMITATION, ANY PROCEEDING RELATING TO ANCILLARY MEASURES
IN AID OF ARBITRATION, PROVISIONAL REMEDIES AND INTERIM RELIEF, OR ANY PROCEEDING TO ENFORCE ANY
ARBITRAL DECISION OR AWARD. EACH PARTY HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY
SUIT, ACTION OR OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE COURTS
DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO RESOLVE ANY DISPUTE

7

 

OTHER
THAN AS SET FORTH IN THIS SECTION 5.10 OR TO CHALLENGE OR SET ASIDE ANY DECISION, AWARD OR JUDGMENT
OBTAINED IN ACCORDANCE WITH THE PROVISIONS HEREOF.

          (b) EACH OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY HAVE TO
VENUE, INCLUDING, WITHOUT LIMITATION, THE INCONVENIENCE OF SUCH FORUM, IN ANY OF SUCH COURTS. IN
ADDITION, EACH OF THE PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY MANNER
IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION 5.14 OF THIS AGREEMENT.

     5.11. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY VOLUNTARILY AND
IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS
AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY.

     5.12. Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors, permitted
assigns, heirs, executors and administrators of the parties hereto.

     5.13. Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties hereto with respect to the subject matter contained herein and
supersedes all prior communications, representations and negotiations in respect thereto.

     5.14. Notices. All demands, notices, requests, consents and other communications
required or permitted under this Agreement shall be in writing and shall be personally delivered or
sent by facsimile machine (with a confirmation copy sent by one of the other methods authorized in
this Section 5.14), reputable commercial overnight delivery service (including Federal Express and
U.S. Postal Service overnight delivery service) or, deposited with the U.S. Postal Service and
mailed first class, registered or certified mail, postage prepaid, as set forth below:

          If to Orbitz, addressed to:

Orbitz Worldwide, Inc.

Legal Department

500 W. Madison Street

Chicago, Illinois 60661

Attention: General Counsel

Fax: (312) 894-4856

          If to Employee, to the address set forth on the signature page of this Agreement or at the
current address listed in the Company’s records.

Notices shall be deemed given upon the earlier to occur of (i) receipt by the party to whom such
notice is directed; (ii) if sent by facsimile machine, on the day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) such notice is sent if sent (as

8

 

evidenced by the facsimile confirmed receipt) prior to 5:00 p.m. Eastern Time and, if sent after
5:00 p.m. Eastern Time, on the day (other than a Saturday, Sunday or legal holiday in the
jurisdiction to which such notice is directed) after which such notice is sent; (iii) on the first
business day (other than a Saturday, Sunday or legal holiday in the jurisdiction to which such
notice is directed) following the day the same is deposited with the commercial courier if sent by
commercial overnight delivery service; or (iv) the fifth day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) following deposit thereof with
the U.S. Postal Service as aforesaid. Each party, by notice duly given in accordance therewith,
may specify a different address for the giving of any notice hereunder.

     5.15. No Third Party Beneficiaries. There are no third party beneficiaries of this
Agreement.

     5.16. Incorporation of Plan and Employment Agreement; Acknowledgment. The Plan and
Employment Agreement are hereby incorporated herein by reference and made a part hereof, and the
RSUs and this Agreement are subject to all terms and conditions of the Plan and the Employment
Agreement. In the event of any inconsistency between the Plan or the Employment Agreement and this
Agreement, the provisions of the Plan or Employment Agreement shall govern. By signing this
Agreement, Employee acknowledges having received and read a copy of the Plan.

     5.17. Consent. In the course of Employee’s employment with the Company, the Company
may obtain or have access to certain information about Employee and Employee’s employment with the
Company, such as information about Employee’s job, appraisals, performance, health, compensation,
benefits, training, absence, education, contact details, disabilities, social security number (or
equivalent) and information obtained from references or background checks (collectively, “Personal
Information”). The Company will use Personal Information in connection with Employee’s employment
with the Company, to provide Employee with health and other benefits, and in order to fulfill its
legal and regulatory obligations. Due to the global nature of the Company’s business and the need
to centralize the Company’s information and technology storage systems, the Company may transfer,
use or store Employee’s Personal Information in a country or continent outside the country where
Employee works or lives, and may also transfer Employee’s Personal Information to its other group
companies, to its insurers and service providers as necessary or appropriate, and to any party that
it merges with or which purchases all or a substantial portion of its assets, shares, or business
(any of which may also be located outside the country or continent where Employee works or lives).
The Company may also disclose Employee’s Personal Information when it is legally required to do so
or to governmental, fiscal or regulatory authorities (for example, to tax authorities in order to
calculate Employee’s appropriate taxation, compensation or salary payments). The Company may
disclose Personal Information as noted above, including to any of the third parties and for any of
the reasons listed above, without further notice to Employee. By signing below, Employee consents
to the Company collecting, retaining, disclosing and using Personal Information as outlined above,
and to transfer such information internationally and/or to third parties for these purposes.

9

 

     5.18. Severability; Titles and Subtitles; Gender; Singular and Plural; Counterparts;
Facsimile.

          (a) In case any provision of this Agreement shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions of this Agreement shall not in
any way be affected or impaired thereby.

          (b) The titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement.

          (c) The use of any gender in this Agreement shall be deemed to include the other genders, and
the use of the singular in this Agreement shall be deemed to include the plural (and vice versa),
wherever appropriate.

          (d) This Agreement may be executed in any number of counterparts, each of which shall be an
original, but all of which together constitute one instrument.

          (e) Counterparts of this Agreement (or applicable signature pages hereof) that are manually
signed and delivered by facsimile transmission shall be deemed to constitute signed original
counterparts hereof and shall bind the parties signing and delivering in such manner.

10

 

          IN WITNESS WHEREOF, Orbitz and Employee have executed this Agreement as of the day and year
first written above.

	 	 	 	 	 	 	 
	 	 	ORBITZ WORLDWIDE, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

	 	 	 	 	 
	 

	 	EMPLOYEE:
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name: Barnaby Harford	 	 
	 
	 	 	 	 
	 

	 	Number of RSUs:	 	 

 

 

Exhibit A – 2007 Equity and Incentive Plan

(Distributed Separately)

 

 

Exhibit B – Form Agreement and General Release

Orbitz Worldwide, Inc. (“Orbitz Worldwide”) and Orbitz, L.L.C. (collectively with their
subsidiaries, the “Company”) and _________ (hereinafter collectively with his heirs, executors,
administrators, successors and assigns, “EXECUTIVE”), mutually desire to enter into this Agreement
and General Release (“Agreement” or “Agreement and General Release”) and agree that:

     The terms of this Agreement are the products of mutual negotiation and compromise between
EXECUTIVE and the Company; and

     The meaning, effect and terms of this Agreement have been fully explained to EXECUTIVE; and

     EXECUTIVE is hereby advised, in writing, by the Company that he should consult with an
attorney prior to executing this Agreement; and

     EXECUTIVE is being afforded at least twenty-one (21) days from his Last Day of Employment to
consider the meaning and effect of this Agreement; and EXECUTIVE may execute this Agreement
after the Last Day of Employment but may not execute it more than
twenty-one (21) days after the Last Day of Employment; and

     EXECUTIVE understands and acknowledges that, if he executes this Agreement before the Last Day
of Employment, it shall be null and void and of no effect; and

     EXECUTIVE understands that he may revoke this Agreement for a period of seven (7) calendar
days following the day he executes this Agreement and this Agreement shall not become effective or
enforceable until the revocation period has expired, and no revocation has occurred (“the Effective
Date”). Any revocation within this period must be submitted, in writing, to the Company’s
Human Resources Department and state, “I hereby revoke my acceptance of your Agreement and General
Release.” Said revocation must be personally delivered to the Company’s Human Resources
Department, or mailed to the Company’s Human Resources Department and postmarked within seven (7)
calendar days of execution of this Agreement; and

     EXECUTIVE has carefully considered other alternatives to executing this Agreement and General
Release.

     THEREFORE, EXECUTIVE and the Company, for the full and sufficient consideration set forth
below, agree as follows:

     1. EXECUTIVE’s employment with the Company is terminated [without Cause] (as defined in the
Employment Agreement) as of [DATE], which shall be his Last Date of Employment. EXECUTIVE shall
receive all wages earned through his Last Date of Employment, less applicable taxes, withholding
and other lawful deductions. Other than as set forth below, EXECUTIVE shall not be eligible for
any other payments from the Company.

 

 

     2. In consideration for the execution by EXECUTIVE of this Agreement and compliance with the
promises made in this Agreement, pursuant to the employment agreement between EXECUTIVE and the
Company (the “Employment Agreement”) that EXECUTIVE signed on January 6, 2009, the Company agrees:

	 	a.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	b.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	c.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	d.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	e.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	f.	 	[INSERT APPLICABLE SEVERANCE TERMS]
	 
	 	g.	 	to provide EXECUTIVE with vesting of any equity-based
awards held by EXECUTIVE with respect to Orbitz Worldwide, Inc. as, and to
the extent, described in the definitive documentation related to such
awards.
	 
	 	h.	 	[to provide EXECUTIVE with a neutral reference to any
entity other than the Released Parties. Upon inquiry to the Human
Resources department, prospective employers (other than the Released
Parties) will be advised only as to the dates of EXECUTIVE’s employment
and his most recent job title. Last salary will be provided if EXECUTIVE
has provided a written release for the same.]

Except as set forth in the Restricted Stock Unit Agreement between EXECUTIVE and the Company dated
April [16], 2009, the payments herein will be made as soon as reasonably practicable once this
Agreement has taken effect, but in no case more than sixty (60) days after EXECUTIVE’s Last Date of
Employment. This Agreement is intended to comply with the requirements of Section 409A of the
Internal Revenue Code (“Section 409A”) and regulations promulgated thereunder.  To the extent that
any provision in this agreement is ambiguous as to its compliance with Section 409A, the provision
shall be read in such a manner so that all payments under this agreement shall not incur an
“additional tax” within the meaning of Section 409A(a)(1)(B) of the Code.

     3. EXECUTIVE is obligated to pay any local, state or federal taxes that may become due and
owing from the payment recipient on the payments and benefits provided under this Agreement.

     4. EXECUTIVE understands and agrees that he would not receive the monies and/or benefits
specified in paragraph 2 above, except for his execution of this Agreement, and the
fulfillment of the promises contained herein, and that such consideration is greater than any

 

 

amount to which he would otherwise be entitled as an employee of the Company.

     5. Except as otherwise expressly provided by this Agreement or the right to enforce the terms
of this Agreement, EXECUTIVE, of his own free will knowingly and voluntarily releases and forever
discharges the Company, their current and former parents, and their shareholders, affiliates,
subsidiaries, divisions, predecessors, successors and assigns and the employees, officers,
directors, advisors and agents thereof (collectively referred to throughout this Agreement as the
“Released Parties”, or a “Released Party”), of and from any and all actions or causes of action,
suits, claims, charges, complaints, promises demands and contracts (whether oral or written,
express or implied from any source), or any nature whatsoever, known or unknown, suspected or
unsuspected, which against the Released Parties EXECUTIVE or EXECUTIVE’S heirs, executors,
administrators, successors or assigns ever had, now have or hereafter can shall or may have by
reason of any matter, cause or thing whatsoever arising any time prior to the time EXECUTIVE
executes this Agreement, including, but not limited to:

	 	a.	 	any and all matters arising out of EXECUTIVE’s employment by the Company or any
of the Released Parties and the termination of that employment, and that includes but
is not limited to any claims for salary, allegedly unpaid wages, bonuses, commissions,
retention pay, severance pay, vacation pay, or any alleged violation of the National
Labor Relations Act, any claims for discrimination of any kind under the Age
Discrimination in Employment Act of 1967 as amended by the Older Workers Benefit
Protection Act, Title VII of the Civil Rights Act of 1964, Sections 1981 through 1988
of Title 42 of the United States Code, any claims under the Employee Retirement Income
Security Act of 1974 (except for vested benefits which are not affected by this
Agreement), the Americans With Disabilities Act of 1990, the Fair Labor Standards Act
(to the extent such claims can be released), the Occupational Safety and Health Act,
the Consolidated Omnibus Budget Reconciliation Act of 1985, the Federal Family and
Medical Leave Act (to the extent such claims can be released);
	 
	 	b.	 	Illinois Human Rights Act; Minimum Wage Law; Equal Wage Act; Equal Pay Act of
2003; Wages for Women and Minors Act; Religious Freedom Restoration Act Statutory
Provision Regarding Retaliation/Discrimination for Filing a Worker’s Compensation
Claim; Equal Pay Laws; School Visitation Rights Act; AIDS Confidentiality Act; Right to
Privacy Law; Genetic Information Privacy Act; the Cook County Human Rights Ordinance;
the Chicago Human Rights Ordinance, as amended; and
	 
	 	c.	 	any other federal, state or local civil or human rights law, or any other
alleged violation of any local, state or federal law, regulation or ordinance, and/or
public policy, implied or expressed contract, fraud, negligence, estoppel, defamation,
infliction of emotional distress or other tort or common-law claim having any bearing
whatsoever on the terms and conditions and/or termination of his employment with the
Company including, but not limited to, any statutes or claims providing for the award
of costs, fees, or other expenses, including reasonable attorneys’ fees, incurred in
these matters.

 

 

Nothing in the general release of claims shall affect (i) any vested equity granted to EXECUTIVE
under the Orbitz Worldwide, Inc. 2007 Equity and Incentive Plan (“the Orbitz Plan”) and any vested
equity granted to EXECUTIVE under the TDS Investor (Cayman) L.P. 2006 Interest Plan (“the
Travelport Plan”), as amended and/or restated from time to time, and the award agreements issued
under the Orbitz Plan and the Travelport Plan, (ii) rights to the Accrued Rights (as defined in the
Employment Agreement), (iii) rights under Section 13(p), (q) and (r) of the Employment Agreement or
any additional rights to indemnification, advancement of legal fees or directors and officers
liability insurance, (iv) rights to receive severance payments and benefits and other rights as
provided in this general release and (v) any rights as a shareholder of the Company.

     6. EXECUTIVE also acknowledges that he does not have any current charge, claim or lawsuit
against one or more of the Released Parties pending before any local, state or federal agency or
court regarding his employment and his separation from employment. EXECUTIVE understands that
nothing in this release prevents him from filing a charge or complaint with or from participating
in an investigation or proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”)
or any other federal, state or local agency charged with the enforcement of any employment or labor
laws, although by signing this Agreement EXECUTIVE is giving up any right to monetary recovery that
is based on any of the claims he has released. EXECUTIVE also understands that if he files such a
charge or complaint, he has, as part of this Agreement, waived the right to receive any
remuneration beyond what EXECUTIVE has received in this Agreement.

     7. EXECUTIVE shall not seek or be entitled to any personal recovery, in any action or
proceeding that may be commenced on EXECUTIVE’s behalf in any way arising out of or relating to the
matters released under this Agreement.

     8. EXECUTIVE agrees that for the one (1) year period following the Last Day of Employment he
will not in any way disparage the Company, its current officers, directors and employees, or make
or solicit any comments, statements, or the like to the media or to others that are intended to be
derogatory or detrimental to the good name or business reputation of any of the aforementioned
parties or entities. The Company on behalf of itself and its directors and officers agrees that
for the one (1) year period following the Last Day of Employment the Company and its directors and
officers will not in any way disparage EXECUTIVE or make or solicit any comments, statements, or
the like to the media or to others that are intended to be derogatory or detrimental to the good
name or business reputation of EXECUTIVE. Nothing herein shall prohibit any party (i) from
disclosing that EXECUTIVE is no longer employed by the Company, (ii) from responding truthfully to
any governmental investigation or inquiry related thereto, whether by the Securities and Exchange
Commission or other governmental entity or any other law, subpoena, court order or other compulsory
legal process or any disclosure requirement of the Securities and Exchange Commission, (iii) from
making any good faith comment or statement to the extent necessary to rebut any public statements
made by the other party; or (iv) from making traditional competitive statements in the course of
promoting a competing business, so long as any statements do not refer to EXECUTIVE’S former
employment with the Company.

 

 

     9. EXECUTIVE understands that if this Agreement were not signed, he would have the right to
voluntarily assist other individuals or entities in bringing claims against Released Parties.
EXECUTIVE hereby waives that right and agrees that he will not provide any such assistance with
regard to matters related to his employment with the Company other than assistance in an
investigation or proceeding conducted by the United States Equal Employment Opportunity Commission
or other federal, state or local agency, or pursuant to a valid subpoena or court order. EXECUTIVE
agrees that if such a request for assistance if by any agency of the federal, state or local
government, or pursuant to a valid subpoena or court order, he shall advise the Company in writing
of such a request promptly, to the extent he is legally permitted to do so.

     10. EXECUTIVE acknowledges and confirms that he has returned all company property to the
Company, including his identification card, and computer hardware and software, all paper or
computer based files, business documents, and/or other records as well as all copies thereof,
credit cards, keys and any other Company supplies or equipment in his possession. In addition, any
business related expenses for which he seeks reimbursement have been documented and submitted to
the Company or will be within thirty (30) days.

     11. The parties acknowledge and confirm that Sections 10, 11, 12 and 13 shall survive
termination of EXECUTIVE’S termination of employment.

     12. This Agreement is made in the State of [Illinois] and shall be interpreted under the laws
of said State. Its language shall be construed as a whole, according to its fair meaning, and not
strictly for or against either party. Should any provision of this Agreement be declared illegal
or unenforceable by any court of competent jurisdiction and cannot be modified to be enforceable,
including the general release language, such provision shall immediately become null and void,
leaving the remainder of this in full force and effect.

     13. EXECUTIVE agrees that neither this Agreement nor the furnishing of the consideration for
this Agreement shall be deemed or construed at any time for any purpose as an admission by the
Company of any liability or unlawful conduct of any kind, all of which the Company denies.

     14. This Agreement may not be modified, altered or changed except upon express written consent
of both parties wherein specific reference is made to this Agreement.

     15. This Agreement sets forth the entire agreement between the parties hereto, and fully
supersedes any prior agreements or understandings between the parties, with the exception of any
non-compete, non-solicit or confidentiality agreement between EXECUTIVE and the Company or one of
their affiliates, which agreement(s) shall survive the termination of EXECUTIVE’s employment in
accordance with its own terms.

     16. EXECUTIVE agrees to reasonably cooperate with and make himself reasonably available (with
regard to his other commitments) to Orbitz Worldwide and its General Counsel, as the Company may
reasonably request, to assist it in any matter regarding the Company or their affiliates,
subsidiaries, and predecessors, including giving truthful testimony in any litigation or potential
litigation involving the Company and their affiliates, subsidiaries, and their predecessors, over
which EXECUTIVE has knowledge or information as a result of his

 

 

employment with the Company. The Company will reimburse EXECUTIVE for any and all reasonable
expenses reasonably incurred in connection with EXECUTIVE’s compliance with this paragraph.

     17. At the same time EXECUTIVE executes this Agreement, EXECUTIVE agrees to execute and return
with this Agreement the attached resignation letter concerning his appointment as director,
officer, and/or any other position of responsibility requiring notification to a public registrar,
or regulatory or governing body.

     THE PARTIES HAVE READ AND FULLY CONSIDERED THIS AGREEMENT AND GENERAL RELEASE AND ARE MUTUALLY
DESIROUS OF ENTERING INTO SUCH AGREEMENT AND GENERAL RELEASE. EXECUTIVE UNDERSTANDS THAT THIS
DOCUMENT SETTLES, BARS AND WAIVES ANY AND ALL CLAIMS HE HAD OR MIGHT HAVE AGAINST THE COMPANY; AND
HE ACKNOWLEDGES THAT HE IS NOT RELYING ON ANY OTHER REPRESENTATIONS, WRITTEN OR ORAL, NOT SET FORTH
IN THIS DOCUMENT. HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE
PROMISES SET FORTH HEREIN, AND TO RECEIVE THEREBY THE SUMS AND BENEFITS SET FORTH IN PARAGRAPH 2
ABOVE, EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND
GENERAL RELEASE. IF THIS DOCUMENT IS RETURNED EARLIER THAN [21] DAYS FROM THE LAST DATE OF
EMPLOYMENT, THEN EXECUTIVE ADDITIONALLY ACKNOWLEDGES AND WARRANTS THAT HE HAS VOLUNTARILY AND
KNOWINGLY WAIVED THE [21] DAY REVIEW PERIOD, AND THIS DECISION TO ACCEPT A SHORTENED PERIOD OF TIME
IS NOT INDUCED BY THE COMPANY THROUGH FRAUD, MISREPRESENTATION, A THREAT TO WITHDRAW OR ALTER THE
OFFER PRIOR TO THE EXPIRATION OF THE [21] DAYS, OR BY PROVIDING DIFFERENT TERMS TO EMPLOYEES WHO
SIGN RELEASES PRIOR TO THE EXPIRATION OF SUCH TIME PERIOD.

 

 

     THEREFORE, the parties to this Agreement and General Release now voluntarily and knowingly
execute this Agreement.

EXECUTIVE

                                                            

Signed and sworn before me

this       day of                     , 200_.

                                                            

Notary Public

	 	 	 
	 

	 	ORBITZ WORLDWIDE, INC.
	 
	 	 
	 

	 	By:
	 

	 	Name:
	 

	 	Title:

Signed and sworn to before me

this       day of                     , 200_.

                                                            

Notary Public

	 	 	 
	 

	 	ORBITZ, L.L.C.
	 
	 	 
	 

	 	By:
	 

	 	Name:
	 

	 	Title:

Signed and sworn to before me

this       day of                     , 200_.

                                                            

Notary Public

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