Document:

exv10w1

 

EXHIBIT 10.1

AMENDMENT NO. 18

TO THE POSTSCRIPT SOFTWARE DEVELOPMENT LICENSE

AND SUBLICENSE AGREEMENT

BETWEEN

ADOBE SYSTEMS INCORPORATED

AND

PEERLESS SYSTEMS CORPORATION

Effective Date: May 1, 2004

     This Amendment No. 18 (the “Amendment”) to the PostScript Software
Development License and Sublicense Agreement dated July 23, 1999 (the
“Agreement”) is between Adobe Systems Incorporated, a Delaware corporation
having a place of business at 345 Park Avenue, San Jose, CA 95110 (“Adobe”) and
Peerless Systems Corporation, a Delaware corporation, having a place of business
at 2381 Rosecrans Avenue, El Segundo, California 90245 (“Peerless”).

     WHEREAS, the purpose of this Amendment to the Agreement is to authorize
Peerless to use the services of Metatechno Incorporated, a Japanese corporation, as a Third Party Developer under the terms of the Agreement.

     NOW, THEREFORE, the parties agree as follows:

1.      Adobe is hereby authorizing Peerless’ use of a Third Party Developer (as
identified in the attached Exhibit C-2 (“Development Sites — Third Party
Developers”)) at the Secondary Development Site specified below in accordance
with the terms of the Agreement, including but not limited to Paragraph 2.11
(“Third Party Developer”), Exhibit N-1 (“Secure Procedures for Handling Adobe
Support Information”) and Exhibit P (“Third Party Developer Terms”).

2.      Exhibit C-2 (“Development Sites — Third Party Developers”) of the Agreement
is deleted and replaced with a new Exhibit C-2 (“Development Sites — Third Party
Developers”) to read as attached hereto.

3.      All other terms and conditions of the Agreement shall remain in full force and effect.

 

     IN WITNESS WHEREOF, each of Adobe and Peerless has executed this Amendment
No. 1 to the PostScript Software Development License and Sublicense Agreement by its duly authorized officer.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Adobe:

	 	 	 	 	 	Peerless:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	ADOBE SYSTEMS INCORPORATED	 	 	 	PEERLESS SYSTEMS CORPORATION
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 	 	 	 	 
	

	 	

	 	 	 	 	 	
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Print

Name:

	 	 	 	 	 	Print

Name:	 	 	 	 	 	 	 	 
	

	 	

	 	 	 	 	 	
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	Title:	 	 	 	 	 	 	 	 
	

	 	

	 	 	 	 	 	
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Date:	 	 	 	 	 	 	 	 
	

	 	

	 	 	 	 	 	
	 	 	 	 	 	 

 

EXHIBIT C-2

DEVELOPMENT SITES — THIRD PARTY DEVELOPERS

Peerless is authorized under the provisions in Paragraph 2.11 (“Third Party
Developers”) of the Agreement to grant access to and use of the Adobe Support
Information (except for Adobe Core Source) to Third Party Developer(s)
identified below to do development work on behalf of Peerless or for an OEM
Customer solely at the Secondary Development Site(s) specified below.

Metatechno Incorporated

Itopia Iwamoto-cho

2-chome Building

2-11-2, Iwamoto-cho

Chiyoda-ku, Tokyo, 101 JapanEXECUTIVE AGREEMENT 

        THIS
EXECUTIVE AGREEMENT (the “Agreement”) by and between Hudson Highland Group, Inc.
(the “Company”) and Richard W. Pehlke (the “Executive”) is made as of
this 14th day of June, 2005 (the “Effective Date”). 

        WHEREAS,
the Executive has advised the Board of Directors of the Company of his imminent departure
from employment as an executive of the Company, and the Board of Directors and the
Executive have mutually agreed to satisfactory transitional and post-departure consulting
arrangements. 

        NOW,
THEREFORE, in consideration of this mutual Agreement, the Company and the Executive hereby
agree as follows: 

    1.       Transition
Arrangements. Executive’s duties as Executive Vice           President and Chief
Financial Officer of the Company shall continue until the           earlier of December
31, 2005, or the date of commencement of employment of           Executive’s
successor (the “CFO Transition Date”). Except as           provided in Section
2, the Executive shall continue in the employ of the Company           through December
31, 2005, with the same compensation and benefits as in effect           immediately
preceding the Effective Date, except that the Executive’s           annual bonus for
2005 shall be paid on a prorated basis only for the period of           his employment
during 2005 prior to the Departure Date (as defined below). The           Company agrees
to determine Executive’s prorated annual bonus for 2005, in           good faith, as
if Executive had continued as the Company’s CFO and in           accordance with
Executive’s pre-existing annual bonus criteria. Executive           will assist the
Company in its search for a successor Chief Financial Officer           and provide
reasonable assistance in transitioning his duties to his successor,           as
requested by the Company’s Chief Executive Officer.  

    2.       Departure
Date. The final day of the Executive’s regular employment           with the
Company is his “Departure Date” for purposes of this           Agreement. The
Executive’s Departure Date will be the first to occur of:  

		    (a)       December
31, 2005;  

		    (b)       A
date prior to December 31, 2005, that is selected by the Executive or the
          Company which is within the sixty (60) day period following the CFO Transition
          Date, and which is after the conclusion of a reasonable transition period for
          the successor Chief Financial Officer.  

		    (c)       The
date of death or incapacity of the Executive. Incapacity means that the
          Executive has, in the reasonable determination of the Company, become unable to
          perform by reason of physical or mental incompetence his obligations under this
          Agreement for a period of one hundred twenty (120) days in any three hundred
          sixty-five (365) day period.  

		    (d)       The
date on which the Company severs Executive’s employment for           “Cause,” defined
for purposes of this Agreement as acts of material           dishonesty or willful
misconduct by the Executive with respect to the Company.  

-1- 

    3.       Company
Payments at Departure Date. The Company will pay to the           Executive, in a
single lump sum amount, less such taxes and other deductions           required by
applicable law, the sum of Three Hundred Fifty Thousand Dollars           ($350,000) and
One Hundred Fifty Thousand Dollars ($150,000), as provided for in           the letter
agreement entered into between the Executive and TMP Worldwide, Inc.           dated
March 7, 2003, (the “March 7, 2003, Letter Agreement”). The           Company
will also pay to the Executive, in a single lump sum amount, less such           taxes
and other deductions required by applicable law, any unused balance of the
          Executive’s $25,000 financial planning allowance provided under the March
          7, 2003, Letter Agreement. Such payments will be made within ten (10) business
          days following the Executive’s Departure Date. No payments made to
          Executive pursuant to this Section shall be deemed to be compensation for
          purposes of any Company employee pension or welfare benefit plan.  

    4.       Obligations
of Executive at Departure Date. Executive represents and           warrants that
Executive will, on or before his Departure Date, provide           additional
resignations from such positions as the Company deems necessary,           including
positions as officer or director of the Company or any affiliated           company or as
member of any committee or administrative body relating to the           Company and its
businesses. Except as to such material that is approved by the           Company for
retention by the Executive for his use during the Consulting Period,           Executive
further represents and warrants that Executive will, on or before his           Departure
Date, deliver to the Company the original and all copies of all           documents,
records, and property of any nature whatsoever which are in           Executive’s
possession or control and which are the property of the Company           or which relate
to Confidential Information (as described below), or to the           business
activities, facilities, or customers of the Company, including any           records
(electronic or otherwise), documents or property created by the           Executive.  

    5.       Consulting
Arrangement Following Departure Date. Executive shall continue           in the
Company’s employ as a consulting employee during the period           commencing
immediately following his Departure Date and ending on the first to           occur of
December 31, 2006, the death of the Executive occurs, the Executive           elects to
resign, or the Executive is discharged by the Company for Cause, as           defined
above (the “Consulting Period”), subject to the following:  

		    (a)       The
consulting employment services to be provided by Executive will focus on
          long-range and strategic planning for the Company as reasonably directed by the
          Company’s Chief Executive Officer.  

		    (b)       During
the Consulting Period, Executive shall be considered to be a full time           employee
of the Company and shall be eligible for participation in the standard           employee
benefit plans and fringe benefits for the Company’s salaried           employees, on
the same basis as such other salaried employees.  

		    (c)       During
the Consulting Period, subject to such exceptions as are approved in           advance in
writing by the Company’s Chief Executive Officer, the Executive           may not
engage in any employment that involves any conflicting business           activities, or
have any financial interest, directly or indirectly, in any           business competing
with the Company or otherwise engaged in the business of the           Company or its
affiliates. The foregoing does not prevent Executive from           employment that does
not involve any conflicting business activity or passively           investing in
publicly traded securities; provided such investments do not           require services
on the part of the Executive which would materially impair the           performance of
the Executive’s duties pursuant to this Agreement.  

-2- 

		    (d)       If
the Consulting Period commences prior to the end of the 2005 calendar year,           the
Company shall continue to pay Executive a salary equal to his salary in           effect
as of the Effective Date in accordance with its customary payroll           practices and
procedures. For each month of the Consulting Period during the           2006 calendar
year, the Company shall pay the Executive Twenty-thousand Dollars           ($20,000) in
accordance with its customary payroll practices and procedures.  

The availability of the Consulting
Period and the compensation and benefits associated with it are specifically agreed to be
additional consideration paid to the Executive for the covenants and releases included in
Sections 8, 9, and 10. Executive represents and warrants that Executive will, on or before
the last day of the Consulting Period, deliver to the Company the original and all copies
of all documents, records, and property of any nature whatsoever which are in
Executive’s possession or control and which are the property of the Company or which
relate to Confidential Information (as described below), or to the business activities,
facilities, or customers of the Company, including any records (electronic or otherwise),
documents or property created by the Executive. 

    6.       Certain
Group Welfare Benefit Plan Extensions. Executive shall cease to           be an
eligible employee under the Company’s employee pension and benefit           plans,
including its group medical and dental plans, effective at the end of the
          Consulting Period. If the Executive elects to exercise his rights to continue
          group medical and dental plan coverage for a limited period (commonly referred
          to as “COBRA rights”) within the statutorily prescribed time period
          commencing immediately following the end of the Consulting Period, the Company
          will waive any applicable COBRA continuation premium during the eighteen (18)
          month period following such date. Upon the expiration of the 18-month period
          described in the preceding sentence, provided Executive remains covered by the
          Company’s group medical and dental plans at the end of such period, the
          Company will, for a period of an additional six (6) months, make available to
          the Executive at no monthly premium cost to the Executive, medical and dental
          benefits comparable to those (and on substantially similar terms and
conditions)           that would have been made available to Executive had Executive
remained employed           by the Company during such period. Thereafter, for any period
that may be           remaining through December 31, 2008, the Company will make
available to           Executive, at Executive’s cost for monthly premiums, medical
and dental           benefits comparable to those (and on substantially similar terms and
conditions)           that would have been available to Executive had Executive remained
employed by           the Company during such period.  

    7.       Other
Agreements. This Agreement does not limit or restrict in any way           Executive’s
rights under the Company’s employee benefit plans,           including any
retirement plan, supplemental executive retirement plan,           nonqualified deferred
compensation plan, retirement savings plan, or group           medical plan. Any stock
options and/or restricted stock awards previously issued           to Executive shall
remain in effect according to their terms and vesting and           exercise rights
thereunder shall be determined on the basis that Executive shall           have remained
in continuous employment with the Company through the end of the           Consulting
Period. Further, the Company agrees to permit the Executive to use           any cashless
exercise method permitted under his stock option awards. Except as           set forth in
Section 1, Executive will not participate in, and no payments will           be made to
Executive pursuant to, any management incentive or other incentive           compensation
plan after the Departure Date. Executive remains subject to the           Mutual
Agreement to Arbitrate Claims entered into between the Executive and TMP
          Worldwide, Inc. dated March 12, 2003. Subject to the preceding, all the terms
of           the agreement between the Company and the Executive are embodied in this
          Agreement and it fully supersedes any and all prior agreements or
understandings           between the Executive and the Company, including, but not
limited to, the March           7, 2003, Letter Agreement.  

-3- 

    8.       Restrictive
Covenants. In consideration of Executive’s position with           the Company
immediately prior to the Effective Date, the business relationships           the
Executive has developed while employed by the Company, and the           Executive’s
knowledge of the Company’s business affairs including the           Confidential
Information (as defined below), Executive agrees to the following:  

		    (a)       No
Participation in Business Combinations with Company. In consideration           for
the payments and benefits to be provided to Executive hereunder, Executive
          agrees that during the period from the Effective Date through the date that is
          twelve (12) months after the end of the Consulting Period (the “Restricted
          Period”), regardless of whether Executive has forfeited rights under this
          Agreement due to breach of its terms, Executive will not make, or participate
          with any other person who makes, any proposal for a business combination
          involving the Company or the acquisition of the Company.  

		    (b)       Nonsolicitation.
Executive agrees that during the Restricted Period,           regardless of whether
Executive has forfeited rights under this Agreement due to           breach of its terms,
Executive shall not, except as provided herein, directly or           indirectly solicit
for employment or advise or recommend to any other person           that he solicit for
employment any person employed at that time by the Company           or its subsidiaries.  

		    (c)       Confidentiality.
Executive agrees that during the Restricted Period,           Executive shall maintain
the confidentiality of any and all information about           the Company which is not
generally known or available outside the Company,           including without limitation,
strategic plans, technical and operating know-how,           business strategy, trade
secrets, customer information, business operations and           other proprietary
information (“Confidential Information”), and           Executive will not
directly or indirectly, disclose any Confidential Information           to any person or
entity, or use any Confidential Information, whether for the           benefit of
Executive or the benefit of any new employer or any other person or           entity, or
in any other manner that is detrimental to or inconsistent with any           interest of
the Company. If Executive receives notice that he must disclose           Confidential
Information pursuant to a subpoena or other lawful process,           Executive must
notify the Company’s General Counsel immediately.  

		    (d)       Acknowledgement
of Reasonableness of Restrictions. Executive acknowledges           and agrees that
the scope and duration of these Restrictive Covenants are           reasonable and
necessary to protect the legitimate business interests of the           Company.
Executive acknowledges that Executive has received substantial           compensation
from the Company in consideration for these Restrictive Covenants           and that
Executive’s general skills and abilities are such that Executive           can be
gainfully employed and that this Agreement will not prevent Executive           from
earning a living following the Severance Date.  

-4- 

		    (e)       Company
Entitled to Injunctive Relief. Executive agrees that the Company           will
suffer irreparable damage in the event the provisions of this Section are
          breached and that Executive’s acceptance of the provisions of this Section
          was a material factor in Executive’s decision to enter into this
Agreement.           Executive further agrees that the Company shall be entitled as a
matter of right           to injunctive relief to prevent a breach by Executive. Resort
to such equitable           relief, however, shall not constitute a waiver of any other
rights or remedies           the Company may have. In addition to such equitable relief,
and not in           limitation of any other rights or remedies the Company may have, if
Executive           breaches the provisions of this Section during the Restricted Period
the Company           shall have the remedies set forth in Section 10 hereof. The
provisions of this           Section shall not apply to any truthful statement required
to be made by           Executive in any legal proceeding or government or regulatory
investigation,           provided, however, that prior to making such statement Executive
will give the           Company reasonable notice and, to the extent Executive is legally
entitled to do           so, afford the Company the ability to seek a confidentiality
order. Nothing           herein modifies or reduces Executive’s obligation to comply
with applicable           laws relating to trade secrets, confidential information, or
unfair competition.  

    9.       Release
and Covenants.  

		    (a)       Release
by Executive. In consideration of the substantial compensation           provided and
to be provided by the Company under this Agreement for the benefit           of the
Executive, Executive, on behalf of himself, his spouse, heirs, executors,
          administrators, agents, successors, assigns and representatives of any kind
          (hereinafter collectively referred to as the “Releasors”) confirm
that           Releasors have, as of the Effective Date, released the Company, and each
of its           subsidiaries, affiliates, their employees, successors, assigns,
executors,           trustees, directors, advisors, agents and representatives, and all
their           respective predecessors and successors (hereinafter collectively referred
to as           the “Releasees”), from any and all actions, causes of action,
charges,           debts, liabilities, accounts, demands, damages and claims of any kind
whatsoever           arising prior to the Effective Date, including, but not limited to,
those           arising out of the changes in the terms and conditions of Executive’s
          relationship with the Company described in this Agreement. Executive also
          releases and waives any claim or right to further compensation, benefits,
          damages, penalties, attorney’s fees, costs, or expenses of any kind from
          the Company or any of the other Releasees based on events occurring prior to
the           Effective Date. Executive further agrees not to file, pursue, or
participate in           any lawsuits of any kind in either state or federal court
against any of the           Releasees with respect to any claim released herein,
including any claim arising           out of or in connection with the employment of the
Executive by the Company or           the termination of such employment (other than
pursuing a claim for Unemployment           Compensation benefits to which Executive may
be entitled). This release           specifically includes, but is not limited to, a
release of any and all claims           pursuant to state or federal wage payment laws
and those arising under any           labor, employment discrimination (including,
without limitation, the Age           Discrimination in Employment Act of 1967, as
amended; Title VII of the Civil           Rights of Act of 1964, as amended; the
Rehabilitation Act of 1973; the           Reconstruction Era Civil Rights Acts, 42 U.S.C.
§ 1981—1988; the Civil           Rights Act of 1991; the Americans with
Disabilities Act; the New York Human           Rights Law, as amended; state or federal
family and/or medical leave acts),           contract or tort laws, equity or public
policy, wrongful termination,           retaliation, defamation, misrepresentation,
invasion of privacy, or negligence           standard, whether known or unknown, certain
or speculative, which against any of           the Releasees, any of the Releasors ever
had or now has.  

-5- 

		    (b)       Preservation
of Certain Rights; Release by Company. Notwithstanding the           foregoing, this
Agreement does not waive rights, if any, Executive or his           successors and
assigns may have under or pursuant to, or release any member of           Releasees from
obligations, if any, it may have to them or to their successors           and assigns on
claims arising out of, related to or asserted under or pursuant           to, this
Agreement or any indemnity agreement or obligation contained in or           adopted or
acquired pursuant to any provision of the charter or by-laws of the           Company or
its subsidiaries or affiliates or in any applicable insurance policy           carried by
the Company or its affiliates for any matter which arises or may           arise in the
future in connection with Executive’s employment with the           Company.
Further, the Executive is not waiving, releasing or giving up any claim           for
vested benefits under any retirement plan or any right to continued benefits           in
accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985.           The
Company (and all other Releasees) hereby release the Executive (and the           other
Releasors) from all claims, whether for damages or other relief, based on           acts
or omissions prior to the Effective Date. This release does not release
          Executive from his ongoing obligations under this Agreement.  

		    (c)       Right
to Review and Revoke. Executive hereby acknowledges that he has at           least
twenty-one (21) days to review this Agreement from the date Executive           first
received it and Executive has been advised to review it with an attorney           of
Executive’s choice. Executive further understands that the twenty-one           (21)
day review period ends when Executive signs this Agreement. Executive also           has
seven (7) days after Executive’s signing of this Agreement to revoke by           so
notifying the Company in writing. Failure to provide the release without
          revocation does not extend the Executive’s regular employment date with
the           Company beyond December 31, 2005.  

		    (d)       Full
Knowledge of Agreement. Executive acknowledges that he has carefully           read
this Agreement, knows and understands the contents thereof and its binding
          legal effect. Executive signs the same of his own free will and act, and it is
          his intention that he be legally bound thereby. Executive agrees that he will
          not at any time after the Effective Date apply for a position with the Company
          or any of its subsidiaries or affiliates.  

		    (e)       Confidentiality.
Except as permitted by the Company, Executive agrees not           to discuss this
Agreement publicly and will disclose its contents only to his           attorneys,
financial consultants, and immediate family members. The provisions           of this
paragraph (e) shall not apply to any truthful statement required to be           made by
Executive in any legal proceeding or government or regulatory           investigation,
provided, however, that prior to making such statement Executive           will give the
Company reasonable notice and, to the extent he is legally           entitled to do so,
afford the Company the ability to seek a confidentiality           order.  

-6- 

    10.       Noncompliance;
No Disparagement. The additional payments provided for the           benefit of
Executive pursuant to this Agreement are conditioned upon his           compliance with
all of the terms and conditions of this Agreement, particularly           Sections 8, 9,
and 10. Each of the aforementioned provisions are material terms           of this
Agreement, and (i) in the event of any violation of any such provision           of this
Agreement by Executive, or anyone acting at his direction or (ii) in the           event
Executive or anyone acting at his direction at any time shall           substantially
disparage any of the Releasees, including without limitation by           way of news
media or the expression to news media of personal views, opinions or           judgments,
the Company shall be entitled to withhold and terminate all           aforementioned
payments provided or to be provided, above, and Executive agrees           to repay to
the Company all payments paid for his benefit under this Agreement           and/or the
Company shall be entitled to recover from him any of the amounts paid           pursuant
to this Agreement, without waiving the right to pursue any other           available
legal or equitable remedies. The Company shall not substantially           disparage the
Executive, including without limitation by way of news media or           the expression
to news media of Company views, opinions or judgments. In           addition, the
Company shall provide Executive a positive reference within five           business days
of Executive’s request in a form mutually agreed to by the           parties. 

    11.       Expenses
and Insurance. With respect to services provided by the           Executive
pursuant to this Agreement, the Company shall (a) reimburse Executive           for
reasonable expenses incurred in the performance of his services, (b)           maintain
Director and Officer insurance coverage for the Executive consistent           with that
provided to other Company directors and officers, and (c) provide           Executive
with full indemnification as permitted by law. 

    12.       Taxes.
All payments made herein shall be subject to applicable payroll           and withholding
taxes. Further, the parties agree that Section 409A of the           Internal Revenue
Code of 1986, as amended (the “Code”) does not apply           to any such
payment or to the extent that Code Section 409A may apply, no such           payment is
subject to the adverse tax effects of Code Sections 409A(1)(A) or           (B), and the
parties hereto agree to make all filings in accordance herewith. 

    13.       Severability.
In the event any one or more of the provisions of this           Agreement (or any part
thereof) shall for any reason be held to be invalid,           illegal or unenforceable,
the remaining provisions of this Agreement (or part           thereof) shall be
unimpaired, and the invalid, illegal or unenforceable           provision (or part
thereof) shall be replaced by a provision (or part thereof),           which, being
valid, legal and enforceable, comes closest to the intention of the           parties
underlying the invalid, illegal or unenforceable provisions. However, in           the
event that any such provision of this Agreement (or part thereof) is           adjudged
by a court of competent jurisdiction to be invalid, illegal or           unenforceable,
but that the other provisions (or part thereof) are adjudged to           be valid, legal
and enforceable if such invalid, illegal or unenforceable           provision (or part
thereof) were deleted or modified, then this Agreement shall           apply with only
such deletions or modifications, or both, as the case may be, as           are necessary
to permit the remaining separate provisions (or part thereof) to           be valid,
legal and enforceable.  

-7- 

    14.       Governing
Law. This Agreement shall be governed by the substantive laws           of the State
of New York without regard to its conflict of laws provisions or           the laws of
any other jurisdiction in which the Executive resides or performs           any duties
hereunder, or where any violation of the Agreement occurs.  

    15.       Successors;
Binding Agreement. The Company shall have the right to assign           its
obligations under this Agreement to any entity that acquires all or
          substantially all of the assets of the Company and continues the Company’s
          business. The rights and obligations of the Company under this Agreement shall
          inure to the benefit of and shall be binding upon the Company and its
successors           and assigns. The Executive may not assign the Executive’s
rights or           delegate the Executive’s obligations hereunder.  

    16.       Amendment;
Waiver. This Agreement may be amended or modified only by a           written
instrument executed by the Company and the Executive. No provision of           this
Agreement may be waived, or discharged unless such waiver or discharge is           in
writing and signed by the Chief Executive Officer of the Company. Any failure
          by Executive or the Company to enforce any of the provisions of this Agreement
          shall not be construed to be a waiver of such provisions or any right to
enforce           each and every provision in the future. A waiver of any breach of this
Agreement           shall not be construed as a waiver of any other or subsequent breach.  

    17.       Attorney’s
Fees. The Company will reimburse Executive for Jenner           & Block LLP legal
fees related to this Agreement up to $15,000.  

    18.       Press
Release. Public announcement of this Agreement shall be made by the           Company
in the form of a press release that is mutually agreed to by the           Executive and
the Company.  

        THE
COMPANY AND THE EXECUTIVE ACKNOWLEDGE THAT (A) EACH HAS CAREFULLY READ THIS AGREEMENT, (B)
EACH UNDERSTANDS ITS TERMS, (C) ALL UNDERSTANDINGS AND AGREEMENTS BETWEEN THE COMPANY AND
THE EXECUTIVE RELATING TO THE SUBJECTS COVERED IN THE AGREEMENT ARE CONTAINED IN IT, AND
(D) EACH HAS ENTERED INTO THIS AGREEMENT VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES
OR REPRESENTATIONS BY THE OTHER, OTHER THAN THOSE CONTAINED IN THIS AGREEMENT ITSELF. 

-8- 

        IN
WITNESS WHEREOF, the parties hereto have executed this Agreement. 

	Richard W. Pehlke, Executive	Hudson Highland Group, Inc.
	

  /s/ Richard W. Pehlke	By  /s/ Margaretta Noonan
	  Signature of Executive	      Authorized Representative
	
 	Its  EVP, Chief Administrative Officer
	
      June 14, 2005	      June 14, 2005
	      Date	      Date

-9-

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