Document:

exv10w9

 

Exhibit 10.9

EXECUTIVE EMPLOYMENT AGREEMENT

     This Executive Employment Agreement (the “Agreement”) is made as of the 1st day of July  , 2005
(the “Effective Date”), by and between Smith Micro Software, Inc., a Delaware corporation (the “
SMSI”) and Jonathan Kahn (“Executive”), an individual residing in California.

     WHEREAS, SMSI is in need of an executive with significant experience in operating a software
business to develop and sell utility and security software programs; and

     WHEREAS, Executive has experience in such fields; and

     WHEREAS, SMSI wishes to engage Executive to serve as a Sr. Vice President of SMSI,

     NOW THEREFORE, in consideration of the premises and the covenants contained herein, the
parties hereby agree as follows:

1. DUTIES AND POSITION. During the term of this Agreement, Executive agrees to be employed by and
to serve SMSI as a Senior Vice President. SMSI agrees to employ and retain Executive in such
capacity and Executive accepts and agrees to such employment, subject to the general supervision,
advice and direction of the President of SMSI. Executive shall perform such duties as are
customarily performed by an executive in a similar position. Executive’s reasonable attention to
personal investments and other business matters shall not be deemed to be a violation of this
Agreement.

2. TERM OF EMPLOYMENT.

     2.1. Term of Employment. This Agreement shall be effective as of the date first set
forth above and shall continue for a period of three (3) years (the “Term”), unless sooner
terminated pursuant to the provisions set forth herein.

     2.2. Place of Performance. Executive shall be based at the principal business offices
of Allume Systems, Inc., which are currently located at 245 Westridge Dr., Watsonville, CA 95076
(the “Principle Place of Performance”).

3. SALARY, BENEFITS AND BONUS COMPENSATION.

     3.1. Salary. As payment for the services to be rendered by Executive as provided in
Section 1 and subject to the terms and conditions of Section 4, SMSI agrees to pay to Executive a
salary equal to no less than two hundred thousand dollars ($200,000) per year, payable in such
equal increments which are in accordance with the SMSI’s regular payroll practices then in effect
(as may be adjusted from time to time, the “Base Salary”). Executive’s salary shall be reviewed by
SMSI’s Board of Directors in accordance with SMSI policies, and Executive shall be eligible for
increases in salary and benefits as determined by SMSI’s Board of Directors their sole discretion.
In no event shall Executive’s salary be reduced below the Base Salary except with

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Executive’s consent which may be withheld in Executive’s sole discretion, and except as part
of a salary reduction applicable to all senior management of SMSI.

     3.2. Bonuses. Executive shall receive a discretionary bonuses as determined by SMSI’s
Board of Directors, in accordance with SMSI’s standard bonus policies and equal to or greater than
the bonuses awarded to other similar employees of SMSI and its subsidiaries for similar
performance.

     3.3. Employee Benefits. Executive shall be eligible to participate in all benefit
plans generally available to employees who are executives of SMSI including health, dental, life
insurance, retirement, disability, stock and bonus compensation programs.

     3.4. Expenses. SMSI will pay, or reimburse the Executive for, all ordinary and
reasonable out-of-pocket business expenses incurred by Executive in connection with his performance
of services hereunder in accordance with SMSI’s expense authorization and approval procedures then
in effect upon presentation to SMSI of an itemized account and written proof of such expenses.

     3.5. Options. Executive shall receive a grant of incentive stock options to purchase
150,000 shares of SMSI’s Common Stock at the market value of such stock on the date on which the
2005 Incentive Stock Option Plan is ratified by SMSI shareholders, and which options shall vest
twenty five (25%) percent after six (6) months and the remainder monthly over the two year period
commencing upon the date of plan ratification. Executive’s incentive stock options shall be part of
SMSI’s 2005 Incentive Stock Option Plan.

4. TERMINATION.

Definitions. For purposes of this Agreement, the following terms shall have the following
meanings:

          (a) “Termination For Cause” shall mean termination by SMSI of Executive’s employment by SMSI
for reasons of Executive’s conviction of, or plea of “guilty” or “no contest” to, a felony
involving moral turpitude, persistent dishonesty or fraud, persistent willful breaches of the
material terms of this Agreement, or willful neglect of the duties which he is required to perform
hereunder. No act or failure to act by Employee shall be deemed to be “willful” unless done, by
him not in good faith and without reasonable belief that his action or omission was in the best
interest of SMSI.

          (b) “Termination Other Than For Cause” shall mean termination by SMSI of Executive’s
employment by SMSI (other than a Termination For Cause, Disability, or Death) and shall include a
substantial, non-voluntary change in the duties required of Executive, or moving the principal
Place of Performance more than one hundred (100) miles from its current location.

          (c) “Voluntary Termination” shall mean termination of Executive’s employment with SMSI by
action of Executive (other than termination by reason of Executive’s disability or death as
described in Sections 4.4 and 4.5).

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     4.2. Termination For Cause.

          (a) Termination For Cause may be effected by SMSI at any time during the Term and shall be
effected by notice to Executive.

          (b) Upon Termination For Cause, Executive immediately shall be paid any accrued salary, any
bonus compensation to the extent earned, any vested deferred compensation (other than pension plan
or profit sharing plan benefits which will be paid in accordance with the applicable plan), any
benefits under any plan of SMSI in which Executive is a participant to the full extent of
Executive’s rights under such plans, any accrued vacation pay and any appropriate business expenses
incurred by Executive in connection with his duties hereunder, all to the date of termination, but
Executive shall not be paid any other compensation or reimbursement of any kind, including without
limitation, severance compensation; provided that, any of Employee’s options in SMSI which at such
time were vested, shall remain vested.

     4.3. Termination Other Than For Cause.

          (a) Notwithstanding anything else in this Agreement, SMSI may effect a Termination Other Than
For Cause, Disability, Death, or Voluntary Termination at any time by written notice to Executive
of such termination.

          (b) Upon any Termination Other Than For Cause, Executive shall be paid any accrued salary, any
bonus compensation to the extent earned, any deferred compensation (other than pension plan or
profit sharing plan benefits which will be paid in accordance with the applicable plan), any
accrued vacation pay and any appropriate business expenses incurred by Executive in connection with
his duties hereunder, all to the date of termination, and any severance compensation provided in
Section 5, but Executive shall be entitled to no other compensation or reimbursement of any kind.
In addition, Executive shall continue to participate in all medical, health and life insurance
plans and the other benefits provided the Executive (at the same benefit level at which Executive
was participating on the date of termination) at SMSI’s expense during the severance compensation
period provided for in Section 5, and all unvested stock options then held by Executive shall
immediately vest and be exercisable in full within two (2) years of termination.

          (c)

     4.4. Termination by Reason of Disability.

          (a) If, during the Term, Executive is determined by an examining physician to have failed to
perform his duties under this Agreement on account of illness or physical or mental incapacity, and
such illness or incapacity continues for a consecutive period of more than four (4) months, or an
aggregate of more than six (6) months in a twelve (12) month period, the SMSI shall have the right
to terminate Executive’s employment hereunder by notice to Executive.

          (b) Upon a termination by reason of disability SMSI shall pay to the Executive any accrued
salary, any bonus compensation to the extent earned, any vested deferred

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compensation (other than pension plan or profit sharing plan benefits which will be paid in
accordance with the applicable plan), any benefits under any plans of SMSI in which Executive is a
participant to the full extent of Executive’s rights under such plans, any accrued vacation pay and
any appropriate business expenses incurred by Executive in connection with his duties hereunder,
all to the date of termination, but no other compensation or reimbursement of any kind, except
Executive shall have the right to exercise in full any vested stock options then held by Executive.

     4.5. Death.

Upon termination by death, SMSI shall pay to Executive’s estate any accrued salary, any bonus
compensation to the extent earned, any vested deferred compensation (other than pension plan or
profit sharing plan benefits which will be paid in accordance with the applicable plan), any
accrued vacation pay and any appropriate business expenses incurred by Executive in connection with
his duties hereunder, all to the date of termination, but no other compensation or reimbursement of
any kind, except that Executive’s estate shall have the right to exercise any stock options vested
in Executive prior to Executive’s death.

     4.6. Voluntary Termination. Executive may effect a Voluntary Termination of this
Agreement at any time upon sixty (60) days notice to SMSI. In the event of a Voluntary
Termination, SMSI immediately shall pay any accrued salary, any bonus compensation to the extent
earned, any vested deferred compensation (other than pension plan or profit sharing plan benefits
which will be paid in accordance with the applicable plan), any benefits under any plans of SMSI in
which Executive is a participant to the full extent of Executive’s rights under such plans, any
accrued vacation pay and any appropriate business expenses incurred by Executive in connection with
his duties hereunder, all to the date of termination, but no other compensation or reimbursement of
any kind.

     4.7. . Good Cause for Executive to Terminate. Executive shall have the right to
terminate this Agreement for “Good Reason,” encompassing (i) any breach by SMSI or SMSI of any of
the material terms and provisions of the employment contract on its part to be observed or
performed; (ii) any material diminution in Executive’s positions, titles, authority, or status or
the assignment to Executive of duties which are materially inconsistent with his position with
SMSI; (iii) any reduction in Executive’s salary, except as part of a salary reduction applicable to
all senior management; (iv) the relocation of the Place of Performance by more than one hundred
(100) miles or (v) a “Change of Control” (i.e. a change in a majority of the membership of the
Board, the sale of all or substantially all of SMSI’s or SMSI’s assets the merger or consolidation
of SMSI or SMSI as a result of which Executive does not remain the Sr. Vice President of SMSI.)
Upon a termination by Executive for Good Cause, Executive shall be paid any accrued salary, any
bonus compensation to the extent earned, any deferred compensation (other than pension plan or
profit sharing plan benefits which will be paid in accordance with the applicable plan), any
accrued vacation pay and any appropriate business expenses incurred by Executive in connection with
his duties hereunder, all to the date of termination, and any severance compensation provided in
Section 5, but Executive shall be entitled to no other compensation or reimbursement of any kind,
except that all unvested stock options then held by Executive shall immediately vest and all
options be exercisable in full within two (2) years of termination . In

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addition, Executive shall continue to participate in all medical, health and life insurance
plans and the other benefits provided the Executive (at the same benefit level at which Executive
was participating on the date of termination) at SMSI’s expense during the severance compensation
period provided for in Section 5.

5. SEVERANCE COMPENSATION. Upon a Termination Other Than for Cause, Disability, Death, or
Voluntary Termination, Executive shall receive a severance fee equal to eighteen months at his
then-current Base Salary. Such fee shall be payable in equal monthly increments over the period
following termination.

6. PAID TIME OFF. Executive shall accrue paid time off (“PTO”), not including sick leave and
personal business days, on a monthly basis at the rate of days per month. Executive shall thereby
be entitled to not less than twenty (20) business days of PTO during each year of employment plus
the “roll over” of Executive’s accrued PTO accumulated prior to the date of this Executive
Employment Agreement. Executive is ineligible to accrue PTO benefits while Executive is absent
without pay including, but not limited to, unpaid leaves of absence. The purpose of PTO is, among
other things, to provide time for recreation and relaxation. SMSI encourages all of its employees
to take accrued PTO each year. Accordingly, the maximum PTO Executive will be permitted to accrue
is twenty (20) business days. Once this cap on the accrual of PTO has been reached, no additional
PTO will accrue until Executive has reduced the balance of her unused PTO accrued to less than
twenty (20) business days. Thereafter, PTO will accrue on a prospective basis as long as
Executive’s total accrual remains under the cap. SMSI reserves the right to compensate Executive
for earned, unused PTO at any time in its sole discretion via a “roll-over” of unused time.

7. HOLIDAYS. Executive shall be entitled to holidays with pay during each calendar year consistent
with the holiday schedule applicable to management employees of SMSI, generally.

8. COMPLIANCE WITH EMPLOYER’S RULES. The employment relationship between the parties shall be
governed by the general employment policies and procedures of SMSI, including (but not limited to)
those relating to the protection of confidential information and assignment of inventions;
provided, however, that when the terms of this Agreement differ from or are in conflict with SMSI’s
general employment policies or procedures, this Agreement shall control. Executive agrees to abide
by all of SMSI’s policies and procedures in effect from time to time.

9. RETURN OF PROPERTY. Upon termination of Executive’s employment, Executive shall deliver all
property (including keys, records, notes, lists, data, memoranda, models, and equipment) that is in
the Executive’s possession or under the Executive’s control which is the SMSI’s property or related
to SMSI’s business.

10. INDEMNIFICATION OF EXECUTIVE. SMSI shall indemnify Executive against any direct losses
incurred by Executive to the full extent permitted under the Articles of Incorporation and By-Laws
of SMSI, and the laws of the State of Delaware in the performance of his duties to the fullest
extent permissible under applicable law.

11. MISCELLANEOUS.

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     11.1. Notice: Every notice or other communication required or contemplated by this
Agreement by either party shall be delivered to the other party at the address set forth on the
signature page below by: (i) personal delivery and deemed given upon delivery; (ii) postage
prepaid, return receipt requested, registered or certified mail and deemed given five (5) days
after deposit with the United States Postal Service or; (iii) internationally recognized express
courier, such as Federal Express, UPS or DHL and deemed given upon delivery. Either party may
change its or his address for notice from time to time by providing written notice in the manner
set forth above.

     11.2. Attorney Fees. In the event that any action, suit or other proceeding at law or
in equity is brought to enforce the provisions of this Agreement, or to obtain money damages for
the breach thereof, and such action results in the award of a judgment for money damages or in the
granting of any injunction in favor of SMSI, then all reasonable expenses, including, but not
limited to, reasonable attorneys’ fees and disbursements (including those incurred on appeal) of
SMSI in such action, suit or other proceeding shall (on demand of SMSI) forthwith be paid by
Executive. If such action results in a judgment in favor of Executive, then all reasonable
expenses, including but not limited to, reasonable attorney’s fees and disbursements (including
those incurred on appeal) of Executive in such action, suit or other proceeding shall (on demand of
Executive) forthwith be paid by SMSI.

     11.3. Entire Agreement. This Agreement supersedes all prior agreements, and the terms
set forth herein represent the entire understanding and agreement between SMSI and Executive
regarding compensation, employment, status and position. It is further understood that SMSI’s
policies, procedures and rules may be amended or changed at any time by SMSI.

     11.4. Amendment. This Agreement may be modified or amended only if the amendment is
made in writing and is signed by both parties. This Agreement cannot be altered in any way by any
oral statement(s) made by Executive or SMSI.

     11.5. Severability. If any provision(s) of this Agreement shall be held to be invalid
or unenforceable for any reason, the remaining provisions shall continue to be valid and
enforceable. If a court finds that any provision(s) of this Agreement is invalid or unenforceable,
but that by limiting such provision it would become valid or enforceable, then such provision shall
be deemed to be written, construed, and enforced as so limited.

     11.6. Waiver Of Contractual Right. The failure of either party to enforce any
provision of this Agreement shall not be construed as a waiver or limitation of that party’s right
subsequently to enforce and compel strict compliance with every provision of this Agreement.

     11.7. Applicable Law. This Agreement shall be governed by the laws of the State of
California without regard to conflict of laws principles.

     11.8. Venue. The parties agree they entered into this Agreement in Santa Cruz County
and any disputes concerning this Agreement or attempt to enforce this Agreement shall be brought in
the Superior Court of the State of California in and for the County of Orange.

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

	 	 	 
	SMSI

	 	EXECUTIVE
	 
	 	 
	/s/ Andrew C. Schmidt

Andrew C. Schmidt for William W. Smith, Jr, and on

behalf of the Board of Directors

	 	/s/ Jonathan Kahn

Jonathan Kahn

	 
	 	 
	51 Columbia 

Aliso Viejo, CA 94656

	 	608 Seacliff Drive
Aptos, CA 95003

7exv10w1

 

Exhibit 10.1

E. I. DU PONT DE NEMOURS AND COMPANY

STOCK ACCUMULATION AND DEFERRED

COMPENSATION PLAN FOR DIRECTORS

(Amended Effective January 1, 2008)

1. PURPOSE OF THE PLAN

The purpose of the DuPont Stock Accumulation and Deferred Compensation Plan for Directors (the
“Plan”) is to permit Directors to defer the payment of all or a specified part of their
compensation for services performed as Directors.

2. ELIGIBILITY

Members of the Board of Directors of the Company who are not employees of the Company or any of its
subsidiaries or affiliates shall be eligible under this Plan to defer compensation for services
performed as Directors.

3. ADMINISTRATION AND AMENDMENT

The Plan shall be administered by the Compensation Committee of the Board of Directors (the
“Committee”). The decision of the Committee with respect to any questions arising as to the
interpretation of this Plan, including the severability of any and all of the provisions thereof,
shall be final, conclusive and binding. The Board of Directors of the Company reserves the right to
modify the Plan from time to time, or to repeal the Plan entirely, provided, however, that (1) no
modification of the Plan shall operate to annul an election already in effect for the current
calendar year or any preceding calendar year; and (2) that the foregoing shall not preclude any
amendment necessary or desirable to conform to changes in applicable law, including, but not
limited to, changes in the Internal Revenue Code.

The Committee is authorized, subject to the provisions of the Plan, from time to time to establish
such rules and regulations as it deems appropriate for the proper administration of the Plan, and
to make such determinations and take such steps in connection therewith as it deems necessary or
advisable.

4. COMPLIANCE WITH SECTION 16 OF THE EXCHANGE ACT / CHANGE IN LAW

It is the Company’s intent that the Plan comply in all respects with Rule 16b-3 of the Exchange
Act, or its successor, and any regulations promulgated thereunder. If any provision of this Plan is
found not to be in compliance with such rule and regulations, the provision shall be deemed null
and void, and the remaining provisions of the Plan shall continue in full force and effect. All
transactions under this Plan shall be executed in accordance with the requirements of Section 16 of
the Exchange Act and the regulations promulgated thereunder.

The Board of Directors may, in its sole discretion, modify the terms and conditions of this Plan in
response to and consistent with any changes in applicable law, rule or regulation.

 

 

5. ELECTION TO DEFER AND FORM OF PAYMENT

On or before December 31 of any year, a Director may elect to defer, until a specified year or
retirement as a Director of the Company, the payment of all or a specified part of all fees payable
to the Director for services as a Director during the calendar year following the election in the
form of cash or stock units. Restricted stock units payable in cash may be deferred only in the
form of cash. In addition, as part of such election, a Director shall elect the form of payment
(lump sum or annual installments). Any person who shall become a Director during any calendar year,
and who was not a Director of the Company on the preceding December 31, may elect, within thirty
days after election to the Board, to defer in the same manner the receipt of the payment of all or
a specified part of fees not yet earned for the remainder of that calendar year in the form of cash
or stock units. Elections shall be made by written notice delivered to the Secretary of the
Committee. All such elections as to deferral and form of payment are irrevocable.

6. DIRECTORS’ ACCOUNTS

Fees deferred in the form of cash shall be held in the general funds of the Company and shall be
credited to an account in the name of the Director. Deferred cash will bear interest at a rate
corresponding to the average 30-year Treasury securities rate applicable for the quarter (or at
such other rate as may be specified by the Committee from time to time). Interest will be
compounded quarterly and will also be deferred. If the rate changes, the new rate will apply to all
deferred cash amounts beginning with the following quarter. Fees deferred in the form of stock
units shall be allocated to each Director’s account based on the closing price of the Company’s
common stock as reported on the Composite Tape of the New York Stock Exchange (“Stock Price”) on
the date the fees would otherwise have been paid. The Company shall not be required to reserve or
otherwise set aside shares of common stock for the payment of its obligations hereunder, but shall
make available as and when required a sufficient number of shares of common stock to meet the needs
of the Plan. An amount equal to any cash dividends (or the fair market value of dividends paid in
property other than dividends payable in common stock of the Company) payable on the number of
shares represented by the number of stock units in each Director’s account will be allocated to
each Director’s account in the form of stock units based upon the Stock Price on the dividend
payment date. Any stock dividends payable on such number of shares will be allocated in the form of
stock units. If adjustments are made to outstanding shares of common stock as a result of
split-ups, recapitalizations, mergers, consolidations and the like, an appropriate adjustment shall
also be made in the number of stock units in a Director’s account. Stock units shall not entitle
any person to rights of a stockholder unless and until shares of Company common stock have been
issued to that person with respect to stock units as provided in Article 7.

7. PAYMENT FROM DIRECTORS’ ACCOUNTS

The aggregate amount of deferred fees, together with interest and dividend equivalents accrued
thereon, shall be paid in accordance with the deferral and form of payment election made by the
Director under paragraph 5. Amounts deferred to a specified year shall only be paid in a lump sum
and shall be paid promptly at the beginning of that specified year. Amounts deferred to retirement
payable in a lump sum shall be paid, promptly at the beginning of the calendar year following a
Director’s retirement. Installment payments with respect to amounts deferred to retirement shall be
paid

 

 

promptly at the beginning of the calendar year after a Director’s retirement and promptly after the
beginning of each succeeding calendar year until the entire amount credited to the Director’s
account shall have been paid. With respect to directors fees, amounts credited to a Director’s
account in cash shall be paid in cash and amounts credited in stock units shall be paid in one
share of common stock of the Company for each stock unit, except that a cash payment will be made
with any final installment for any fraction of a stock unit remaining in the Director’s account.
Such fractional share shall be valued at the closing Stock Price on the date of settlement.
Restricted stock units payable in cash, and the dividend equivalents associated with such deferred
units, shall be paid in cash, each unit to equal the value of one share of DuPont common stock
based on the average of the high and low prices of DuPont common stock as reported on the Composite
Tape of the New York Stock Exchange as of the effective date of payment.

8. PAYMENT IN EVENT OF DEATH

A Director may file with the Secretary of the Committee a written designation of a beneficiary for
his or her account under the Plan on such form as may be prescribed by the Committee, and may, from
time to time, amend or revoke such designation. If a Director should die before all deferred
amounts credited to the Director’s account have been distributed, the balance of any deferred fees
and interest and dividend equivalents then in the Director’s account shall be paid promptly to the
Director’s designated beneficiary. If the Director did not designate a beneficiary, or in the event
that the beneficiary designated by the Director shall have predeceased the Director, the balance in
the Director’s account shall be paid promptly to the Director’s estate.

9. NONASSIGNABILITY

During a Director’s lifetime, the right to any deferred fees, including interest and dividend
equivalents thereon, shall not be transferable or assignable, except as may otherwise be provided
in rules established by the Committee.

10. GOVERNING LAW

The validity and construction of the Plan shall be governed by the laws of the State of
Delaware.

11. EFFECTIVE DATE

This Plan, as amended, shall become effective as of January 1, 2008, and shall continue in full
force and effect until amended or terminated by the Board of Directors.

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