Document:

Exhibit 10.6

 

EMPLOYMENT
SEPARATION AND GENERAL RELEASE AGREEMENT

 

This Employment Separation and General Release
Agreement (this “Separation Agreement”), is entered into this 10th
day of February 2005 (the “Separation Date”), by and between Frank
Perna, Jr., an individual (“Perna”), and MSC.Software Corporation, a
Delaware corporation (“MSC”).

 

WHEREAS,
Perna has been employed as the Chief Executive Officer of MSC; and

 

WHEREAS,
Perna desires to retire from active employment and, accordingly, Perna and MSC
have mutually agreed to terminate Perna’s employment relationship with MSC upon
the terms set forth herein;

 

NOW,
THEREFORE, in consideration of the covenants undertaken and
the releases contained in this Separation Agreement and the Consulting
Agreement attached as Exhibit B hereto (the “Consulting Agreement”),
Perna and MSC agree as follows:

 

I.                                    Resignation.  Perna hereby resigns as an officer,
director, employee, member, manager and in any other capacity with MSC and each
of its affiliates, effective immediately as of the Separation Date first set
forth above.  Concurrently with the
execution of this Separation Agreement, Perna shall execute the letter attached
as Exhibit A hereto and promptly deliver such letter to MSC.  MSC and its affiliates hereby accept such
resignation, effective immediately.  Perna
acknowledges and agrees that he has received all amounts owed for his regular
and usual salary (including, but not limited to, any severance, overtime, bonus,
commissions, or other wages) and usual benefits, except for accrued but unused
vacation and paid time off through the Separation Date (accrued but unused
vacation and paid time off are estimated at 143.46 hours and shall be paid at
or promptly following the Separation Date) and the amounts referred to in the
next sentence, and that all payments due to Perna from MSC after the Separation
Date shall be determined under this Separation Agreement and the Consulting
Agreement.  Perna shall be entitled to
his benefits under MSC’s 401(k) Plan in accordance with the terms of that Plan,
and MSC shall pay Perna all amounts of compensation previously deferred by him
(including deferred bonuses) pursuant to the terms of the applicable deferred
compensation plan.

 

II.                                Consulting Agreement.  Concurrently with the execution of this Separation
Agreement, and in consideration of the promises given and payments made
hereunder, Perna shall execute the Consulting Agreement attached as Exhibit
B hereto.

 

III.                            Severance Pay.  MSC shall pay as severance pay to Perna a
lump sum amount of Eight Thousand Dollars ($8,000.00), less standard
withholding and authorized deductions (the “Cash Severance Payment”).  Such severance shall be paid within thirty
(30) days following Perna’s delivery of this fully executed Separation Agreement
to MSC.  In addition, during the period
(not to exceed eighteen (18) months) following the Separation Date which MSC is
required to provide continued medical coverage to Perna pursuant to the
Consolidated Omnibus Budget Reconciliation Act (“COBRA”), MSC shall
either pay or reimburse Perna for one hundred percent (100%) of Perna’s COBRA premiums
to continue for such period the same or reasonably equivalent medical coverage
for Perna (and, if applicable, Perna’s eligible

 

1

 

dependents)
as in effect immediately prior to the Separation Date.  For each of the thirty (30) months following
the Separation Date, Perna shall also be entitled to continued supplemental
medical benefit coverage under MSC’s executive medical benefit program.  Such severance payment and benefits are for
and in lieu of any other payments or benefits (and, except as specifically
provided herein, none shall accrue) beyond the Separation Date.  Perna specifically acknowledges and agrees
that he is entitled to receive no severance pay or other benefits pursuant to
any severance plan or policy of MSC or any of its affiliates.

 

IV.                            Reimbursement of Legal Fees.  Subject to MSC’s expense reimbursement
policies in effect from time to time, MSC shall reimburse Perna for the legal
fees and other expenses incurred by him relating to the negotiation and
preparation of this Separation Agreement, provided that in no event shall MSC’s
obligation under this Section IV exceed Twenty Thousand Dollars $20,000 in
the aggregate.

 

V.                                Directors and Officers’ Liability Insurance.  MSC shall keep in place a directors and
officers’ liability insurance policy (or policies) providing comprehensive
coverage to Perna for a period of three (3) years following the Separation Date
to the extent that MSC provides such coverage for any other present or former
senior executive or director of the Corporation during such period; provided,
however, that MSC’s annual cost under such policy (or policies) shall in no
event exceed 200% of its current annual cost under such policy (or policies).

 

VI.                            Non-Disparagement.  Perna agrees that he shall not (1) directly
or indirectly, make or ratify any statement, public or private, oral or
written, to any person that disparages, either professionally or personally, MSC
or any of its affiliates, past and present, and each of them, as well as its
and their trustees, directors, officers, members, managers, partners, agents,
attorneys, insurers, employees, stockholders, representatives, assigns, and successors,
past and present, and each of them, or (2) make any statement or engage in any
conduct that has the purpose or effect of disrupting the business of MSC or any
of its affiliates.  MSC, and its officers
and directors, shall not, directly or indirectly, make or ratify any statement,
public or private, oral or written, to any person that disparages, either
professionally or personally, Perna. 
Nothing in the preceding two sentences, however, shall in any way
prohibit Perna or MSC from disclosing such information as may be required by
law, or by judicial or administrative process or order or the rules of any
securities exchange or similar self-regulatory organization applicable to such
person.

 

VII.                        Release.  Perna on behalf of himself, his descendants,
dependents, heirs, executors, administrators, assigns, and successors, and each
of them, hereby covenants not to sue and fully releases and discharges MSC and
each of its parents, subsidiaries and affiliates, past and present, as well as
its and their trustees, directors, officers, members, managers, partners, agents,
attorneys, insurers, employees, stockholders, representatives, assigns, and
successors, past and present, and each of them, hereinafter together and
collectively referred to as the “Releasees,” with respect to and from any and
all claims, wages, demands, rights, liens, agreements, contracts, covenants,
actions, suits, causes of action, obligations, debts, costs, expenses,
attorneys’ fees, damages, judgments, orders and liabilities of whatever kind or
nature in law, equity or otherwise, whether now known or unknown, suspected or
unsuspected, and whether or not concealed or hidden, which he now owns or holds
or he has at any time

 

2

 

heretofore owned
or held or may in the future hold as against any of said Releasees, arising out
of or in any way connected with his service as an officer, director, employee,
member or manager of any Releasee, his separation from his position as an
officer, director, employee, manager and/or member, as applicable, of any
Releasee, or any other transactions, occurrences, acts or omissions or any
loss, damage or injury whatever, known or unknown, suspected or unsuspected,
resulting from any act or omission by or on the part of said Releasees, or any
of them, committed or omitted prior to the date of this Separation Agreement
including, without limiting the generality of the foregoing, any claim under
Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act,
the Age Discrimination in Employment Act, the Family and Medical Leave Act of
1993, the California Fair Employment and Housing Act, the California Family
Rights Act, or any claim for severance pay, bonus, sick leave, holiday pay,
vacation pay, life insurance, health or medical insurance or any other fringe
benefit, workers’ compensation or disability; provided that such release
shall not apply to (1) any obligation created by or arising out of this
Separation Agreement or the Consulting Agreement for which receipt or
satisfaction has not been acknowledged, (2) any right to indemnification that Perna
may have pursuant to MSC’s Bylaws with respect to any losses that Perna may in
the future incur with respect to his past service as an officer of MSC, and (3)
with respect to any such losses, any rights that Perna may have to insurance
coverage for such losses under any MSC directors and officers liability
insurance policy.

 

VIII.                    1542 Waiver.  It is the intention of Perna in executing
this instrument that the same shall be effective as a bar to each and every
claim, demand and cause of action hereinabove specified.  In furtherance of this intention, Perna hereby
expressly waives any and all rights and benefits conferred upon him by the
provisions of SECTION 1542 OF THE CALIFORNIA CIVIL CODE and expressly
consents that this Separation Agreement shall be given full force and effect
according to each and all of its express terms and provisions, including those
related to unknown and unsuspected claims, demands and causes of action, if
any, as well as those relating to any other claims, demands and causes of
action hereinabove specified. SECTION 1542 provides:

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES
NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
DEBTOR.”

 

Perna acknowledges that he may hereafter discover
claims or facts in addition to or different from those which Perna now knows or
believes to exist with respect to the subject matter of this Separation
Agreement and which, if known or suspected at the time of executing this Separation
Agreement, may have materially affected this settlement.  Nevertheless, Perna hereby waives any right,
claim or cause of action that might arise as a result of such different or
additional claims or facts.  Perna
acknowledges that he understands the significance and consequences of such
release and such specific waiver of SECTION 1542.

 

IX.                           ADEA Waiver.  Perna expressly acknowledges and agrees that
by entering into this Agreement, he is waiving any and all rights or claims
that he may have arising under the

 

3

 

Age Discrimination
in Employment Act of 1967, as amended, which have arisen on or before the date
of execution of this Separation Agreement. 
Perna further expressly acknowledges and agrees that:

 

A.                                    In
return for this Separation Agreement, he will receive consideration beyond that
which he was already entitled to receive before entering into this Separation Agreement;

 

B.                                    He
is hereby advised in writing by this Separation Agreement to consult with an
attorney before signing this Separation Agreement;

 

C.                                    He
was given a copy of this Separation Agreement on February 10, 2005 and
informed that he had twenty-one (21) days within which to consider this Separation
Agreement; and

 

D.                                    He
was informed that he had seven (7) days following the date of execution of this
Separation Agreement in which to revoke this Separation Agreement.

 

X.                               No Transferred Claims.  Perna warrants and represents that he has not
heretofore assigned or transferred to any person not a party to this Separation
Agreement any released matter or any part or portion thereof and he shall defend,
indemnify and hold MSC and each of its affiliates harmless from and against any
claim (including the payment of attorneys’ fees and costs actually incurred
whether or not litigation is commenced) based on or in connection with or
arising out of any such assignment or transfer made, purported or claimed.

 

XI.                           Confidential Information.

 

A.                                    Perna,
in the performance of Perna’s services on behalf of MSC and its affiliates, has
had access to, received and been entrusted with confidential information, including
but in no way limited to development, marketing, organizational, financial,
management, administrative, production, distribution and sales information,
data, specifications and processes presently owned or at any time in the future
developed, by MSC, its affiliates, or its or their agents or consultants, or
used presently or at any time in the future in the course of its or their business
that is not otherwise part of the public domain (collectively, the “Confidential
Material”).  All such Confidential
Material is considered secret and was made available to Perna in
confidence.  Perna represents that he has
held all such information confidential and will continue to do so.

 

B.                                    Except
in the performance of services on behalf of MSC and its affiliates, Perna shall
not, directly or indirectly for any reason whatsoever, disclose or use any such
Confidential Material, unless such Confidential Material ceases (through no
fault of Perna’s) to be confidential because it has become part of the public
domain or he is otherwise obligated to disclose such information by the lawful
order of any competent jurisdiction.  All
records, files, drawings, documents, equipment and other tangible items,
wherever located, relating in any way to the Confidential Material or otherwise
to the business of MSC or any of its affiliates, which Perna prepares, uses or
encounters, shall be and remain the sole and exclusive property of the
appropriate entity or entities and shall be included in the Confidential
Material.  Upon the termination or
expiration, as applicable, of the Consulting Term as set forth in the
Consulting Agreement, or whenever requested by MSC, Perna shall promptly
deliver to MSC any and all of

 

4

 

the
Confidential Material, not previously delivered to MSC, that may be or at any
previous time has been in Perna’s possession or under Perna’s control.

 

C.                                    Perna
hereby acknowledges that the sale or unauthorized use or disclosure of any of
the Confidential Material by any means whatsoever and any time before, during
or after Perna’s engagement with MSC shall constitute “Unfair Competition.”  Perna agrees that Perna shall not engage in
Unfair Competition either during the time engaged by MSC or any time
thereafter.

 

D.                                    Soliciting
Customers.  Perna promises and
agrees that he will not, during his engagement pursuant to the Consulting
Agreement and for a period of one year following termination or expiration, as
applicable, of the Consulting Term thereunder, influence or attempt to
influence any customers of MSC or any of its affiliates, either directly or
indirectly, to divert their business to any individual, partnership, firm,
corporation or other entity which is currently or at that particular point in
time in competition with (or has plans to engage in business which would be in
competition with) the business of MSC or any of its affiliates.  (For purposes of this Separation Agreement, a
business in competition with MSC or its affiliates will be deemed to include
(without limiting any other business in competition with MSC or its affiliates)
any business which is engaged in the development, marketing and/or support of
virtual product development tools for the computer-aided engineering
marketplace (including, without limitation, simulation software and/or
professional services).)  Perna
acknowledges that during his employment with MSC, he was given access to Confidential
Material of MSC and its affiliates, and that such Confidential Material
constitutes MSC’s trade secrets.  Perna
acknowledges and agrees that this restriction is necessary in order for MSC to
preserve and protect its legitimate proprietary interest in its Confidential
Material and trade secrets.

 

XII.                       Soliciting Employees.  Perna
promises and agrees that he will not, during his engagement pursuant to the
Consulting Agreement and for a period of one year following the termination or
expiration, as applicable, of the Consulting Term thereunder, directly or
indirectly solicit any employee of MSC or any of its affiliates who earned
annually $25,000 or more as an employee of such entity during the last six
months of his or her own employment to work for any business, individual,
partnership, firm, or corporation.

 

XIII.                   Stock Options.  MSC has previously granted
options on shares of MSC common stock to Perna. 
As of the Separation Date, such options (to the extent not previously
expired, terminated, or exercised) remain outstanding as to an aggregate of 1,605,475
shares of MSC common stock, of which such options are currently vested as to 1,292,975
shares of MSC common stock (the “Vested Options”) and the balance of such
options as to 312,500 shares of MSC common stock are currently unvested (the “Unvested
Options”).  The Unvested Options are
hereby terminated and Perna shall have no further rights with respect
thereto.  Of the Vested Options, the Vested
Options referred to below are hereby terminated and Perna shall have no further
rights with respect thereto:

 

5

 

	
  Date of Grant

  	
   

  	
  Per Share Exercise Price

  	
   

  	
  Number of Shares

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  March 23, 2000

  	
   

  	
  $

  	
  25.00

  	
   

  	
  100,000

  	
   

  
	
  August 2, 2001

  	
   

  	
  $

  	
  21.95

  	
   

  	
  112,500

  	
   

  
	
  August 2, 2001

  	
   

  	
  $

  	
  27.50

  	
   

  	
  112,500

  	
   

  
	
  March 19, 2002

  	
   

  	
  $

  	
  21.96

  	
   

  	
  100,000

  	
   

  

 

This confirms that MSC has amended the balance of the Vested Options
(those not terminated pursuant to the foregoing, the “Continuing Vested
Options”) so that Perna will have until the first to occur of the following
to exercise such Continuing Vested Options: (1) the third anniversary of the
Separation Date, (2) the expiration of the maximum term of such option, (3) the
termination of the option in connection with a change in control or similar
event as provided in the applicable option agreement and/or plan under which
the option was granted, or (4) MSC’s termination of Perna’s consulting
engagement pursuant to the Consulting Agreement for Cause (as such term is
defined in the Consulting Agreement).  Except
as otherwise expressly provided above in this Section XI, the Continuing
Vested Options otherwise shall remain outstanding in accordance with their
respective terms and conditions.

 

XIV.                   Miscellaneous

 

A.                                    Successors.

 

1.                                       This
Separation Agreement is personal to Perna and shall not, without the prior
written consent of MSC, be assignable by Perna.

 

2.                                       This
Separation Agreement shall inure to the benefit of and be binding upon MSC and
its respective successors and assigns and any such successor or assignee shall
be deemed substituted for MSC under the terms of this Separation Agreement for
all purposes.  As used herein, “successor”
and “assignee” shall include any person, firm, corporation or other business
entity which at any time, whether by purchase, merger or otherwise, directly or
indirectly acquires the ownership of MSC or to which MSC assigns this Separation
Agreement by operation of law or otherwise.

 

B.                                    Waiver.  No waiver of any
breach of any term or provision of this Separation Agreement shall be construed
to be, nor shall be, a waiver of any other breach of this Separation Agreement.  No waiver shall be binding unless in writing
and signed by the party waiving the breach.

 

C.                                    Modification.  This
Separation Agreement may not be amended or modified other than by a written
agreement executed by Perna and the Chief Executive Officer of MSC or his designee.

 

D.                                    Complete Agreement. 
This Separation Agreement and the Consulting Agreement constitute and
contain the entire agreement and final understanding concerning Perna’s
relationship with MSC and its affiliates and the other subject matters
addressed herein between the parties, and supersedes and replaces all prior
negotiations and all agreements proposed or otherwise, whether written or oral,
concerning the subject matters hereof.  The

 

6

 

Employee Confidentiality
and Inventions Agreement by and between Perna and MSC and entered into on or
about March 14, 2004 (the “Confidentiality Agreement”) is outside
of the scope of the preceding sentence and shall continue in effect in
accordance with its terms.  Any representation,
promise or agreement not specifically included in this Separation Agreement,
the Consulting Agreement or the Confidentiality Agreement shall not be binding
upon or enforceable against either party. 
This Separation Agreement, along with the Consulting Agreement and the
Confidentiality Agreement, constitute an integrated agreement.

 

E.                                      Litigation and Investigation Assistance. 
Perna agrees to cooperate in the defense of MSC or any of its affiliates
against any threatened or pending litigation or in any investigation or
proceeding by any governmental agency or body that relates to any events or
actions which occurred during or prior to the term of Perna’s employment or the
Consulting Term (as defined in the Consulting Agreement).  Furthermore, Perna agrees to cooperate in the
prosecution of any claims and lawsuits brought by MSC or any of its affiliates
that are currently outstanding or that may in the future be brought relating to
matters which occurred during or prior to the term of Perna’s employment or the
Consulting Term.  From and after the
Separation Date, except as requested by MSC or as required by law, Perna shall
not comment upon any (i) threatened or pending claim or litigation (including
investigations or arbitrations) involving MSC or any of its affiliates or (ii)
threatened or pending government investigation involving MSC or any of its affiliates.

 

F.                                      Severability.  If
any provision of this Separation Agreement or the application thereof is held
invalid, the invalidity shall not affect other provisions or applications of
the Separation Agreement which can be given effect without the invalid
provisions or applications and to this end the provisions of this Separation
Agreement are declared to be severable.

 

G.                                    Choice of Law.  This Separation Agreement shall be deemed to
have been executed and delivered within the State of California, and the rights
and obligations of the parties hereunder shall be construed and enforced in
accordance with, and governed by, the laws of the State of California without
regard to principles of conflict of laws.

 

H.                                    Cooperation in Drafting. 
Each party has cooperated in the drafting and preparation of this Separation
Agreement.  Hence, in any construction to
be made of this Separation Agreement, the same shall not be construed against
any party on the basis that the party was the drafter.

 

I.                                         Counterparts.  This
Separation Agreement may be executed in counterparts, and each counterpart,
when executed, shall have the efficacy of a signed original.  Photographic copies of such signed
counterparts may be used in lieu of the originals for any purpose.

 

J.                                      Arbitration.  Any dispute, claim or
controversy arising out of or relating to this Separation Agreement, its
enforcement or interpretation, or because of an alleged breach, default, or
misrepresentation in connection with any of its provisions, including the
determination of the scope or applicability of this agreement to arbitrate,
shall be submitted to final and binding arbitration, to be held in Orange
County, California before a sole arbitrator; provided, however, that
provisional injunctive relief may, but need not, be sought in a court of

 

7

 

law
while arbitration proceedings are pending, and any provisional injunctive
relief granted by such court shall remain effective until the matter is finally
determined by the arbitrator.  The
arbitration shall be administered by JAMS pursuant to its Comprehensive
Arbitration Rules and Procedures. 
Judgment on the award may be entered in any court having
jurisdiction.  In the event either party
institutes arbitration under this Separation Agreement, the party prevailing in
any such proceeding, as determined by the arbitrator, shall be entitled, in
addition to all other relief, to reasonable attorneys’ fees relating to such
arbitration.  The nonprevailing party
shall be responsible for all costs of the arbitration, including but not
limited to, the arbitration fees, court reporter fees, etc.  Any dispute as to the reasonableness of costs
and expenses shall be determined by the arbitrator.

 

K.                                    Advice of Counsel.  In entering this Separation Agreement, the
parties represent that they have relied upon the advice of their attorneys, who
are attorneys of their own choice, and that the terms of this Separation
Agreement have been completely read and explained to them by their attorneys,
and that those terms are fully understood and voluntarily accepted by them.

 

L.                                     Supplementary Documents. 
All parties agree to cooperate fully and to execute any and all
supplementary documents and to take all additional actions that may be
necessary or appropriate to give full force to the basic terms and intent of
this Separation Agreement and which are not inconsistent with its terms.

 

M.                                  Headings.  The section headings contained in this Separation
Agreement are inserted for convenience only and shall not affect in any way the
meaning or interpretation of this Separation Agreement.

 

N.                                    Taxes.  Other than MSC’s right to reduce the Cash
Severance Payment for standard withholding, Perna shall be solely responsible
for any taxes due as a result of the payment of the Cash Severance Payment and
other benefits to be provided to Perna pursuant to Section III.  Perna will defend and indemnify MSC and each
of its affiliates from and against any tax liability that any of them may have
with respect to any such payment and against any and all losses or liabilities,
including defense costs, arising out of Perna’s failure to pay any taxes due
with respect to any such payment.

 

[Remainder of page intentionally left blank.]

 

8

 

I have
read the foregoing Separation Agreement and I accept and agree to the
provisions it contains and hereby execute it voluntarily with full understanding
of its consequences.

 

EXECUTED this 10th day of February 2005,
at Orange County, California.

 

	
   

  	
  “Perna”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Frank Perna,
  Jr.

  	
   

  
	
   

  	
  Frank Perna, Jr.

  
	
   

  	
   

  
	
   

  	
   

  
	
  EXECUTED this 10th day of February 2005,
  at Orange County, California.

  
	
   

  	
   

  
	
   

  	
  “MSC”

  
	
   

  	
   

  
	
   

  	
  MSC.Software
  Corporation,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/  John Laskey

  	
   

  
	
   

  	
  By:

  	
  John Laskey

  	
   

  
	
   

  	
  Its:

  	
  Senior Vice President,

  	
   

  
	
   

  	
   

  	
  Chief Financial Officer

  	
   

  

 

9

 

EXHIBIT
A

 

RESIGNATION
LETTER

 

	
  To:

  	
  The Board of Directors
  of MSC.Software Corporation

  
	
   

  	
   

  
	
  From:

  	
  Frank Perna, Jr.

  
	
   

  	
   

  

 

I hereby resign as an employee, officer, director, member,
manager and in any other capacity with MSC.Software Corporation and each of its
affiliates, effective February 10, 2005.

 

	
   

  	
  /s/ Frank
  Perna, Jr.

  	
   

  
	
   

  	
  Frank Perna, Jr.

  
	
   

  	
   

  
	
   

  	
  February 10, 2005

  	
   

  
	
   

  	
  Date

  
				

 

A-1

 

EXHIBIT
B

 

CONSULTING AGREEMENT

 

B-1

 

EXHIBIT
C

 

ENDORSEMENT

 

I, Frank Perna, Jr., hereby acknowledge that I was
given 21 days to consider the foregoing Employment Separation and General
Release Agreement and voluntarily chose to sign the Employment Separation and
General Release Agreement prior to the expiration of the 21-day period.

 

I declare under penalty of perjury under the laws of
the state of California, that the foregoing is true and correct.

 

EXECUTED this 10th day of February 2005,
at Orange County, California.

 

 

	
   

  	
  /s/ Frank Perna, Jr.

  	
   

  
	
   

  	
  Frank Perna, Jr.

  

 

C-1Exhibit 10.7

 

CONSULTING
AGREEMENT

 

This Consulting Agreement (“Consulting Agreement”)
is entered into this 10th day of February 2005 (the “Effective
Date”), by and between Frank Perna, Jr., an individual (“Consultant”),
and MSC.Software Corporation, a Delaware corporation (“MSC”).

 

WHEREAS,
Consultant has been employed as the Chief Executive Officer of MSC;

 

WHEREAS,
Consultant desires to retire from active employment and, accordingly,
Consultant and MSC have mutually agreed to terminate Consultant’s employment
relationship with MSC pursuant to an Employment Separation and General Release
Agreement of even date herewith (the “Separation Agreement”); and

 

WHEREAS,
Consultant is willing to provide advice to and consult with MSC, on an exclusive
basis, as MSC may reasonably request from time to time on matters with which
Consultant was familiar and/or about which Consultant acquired knowledge,
expertise and/or experience during the time that Consultant was employed by MSC.

 

NOW,
THEREFORE, Consultant and MSC agree as follows:

 

I.                                    Engagement.  MSC hereby engages Consultant and Consultant
hereby accepts such engagement, upon the terms and conditions hereinafter set
forth, for the period commencing February 11, 2005 and ending on February 10,
2007 unless earlier terminated by mutual agreement of the parties or as
provided in Section IV herein (such period is referred to as the “Consulting
Term”).  Notwithstanding anything
else contained herein to the contrary, this Consulting Agreement shall be null
and void if Consultant revokes the Separation Agreement during the seven (7)
day period following the execution of that agreement.

 

II.                                Service.

 

A.                                    Consultant
shall perform consulting services during the Consulting Term which shall
include providing advice to and consultation with MSC and such of its
affiliates as MSC may reasonably request from time to time on matters with
which Consultant was familiar and/or about which Consultant acquired knowledge,
expertise and/or experience during the time that Consultant was employed by MSC.

 

B.                                    Consultant
shall report exclusively to the Chief Executive Officer of MSC or his designee
(the “CEO”) and, except as expressly authorized by the CEO from time to
time, shall not have contact with any other employee of MSC or its affiliates.  Consultant shall provide in writing to and as
requested by the CEO a detailed summary of all business contacts involved in
any consulting activity performed hereunder and report on services performed.

 

C.                                    The
consulting services that Consultant may be required to perform during the
Consulting Term may include, without limiting other consulting services that
the CEO may request from time to time, advice, research, planning and similar
services as to business strategy, marketing, litigation, finance, and administration.  Consultant shall attend and participate in
such 

 

1

 

meetings with MSC customers,
employees, and/or suppliers as the CEO may reasonably request from time to
time.

 

D.                                    Consultant
agrees to devote sufficient time and energy to the business of MSC and its
affiliates to accomplish the projects assigned by MSC.

 

E.                                      Consultant
agrees to honestly and faithfully present and conduct himself at all times
during the performance of services for MSC.  Consultant agrees to perform the
responsibilities in a diligent, timely, and competent manner.  Consultant agrees to truthfully and faithfully
account for and deliver to MSC all property (including, without limitation, monies,
materials, securities, etc.) belonging to MSC or any of its affiliates which
Consultant may receive from or on account of MSC or any of its affiliates, and
that upon Consultant’s termination or MSC’s demand Consultant will immediately
deliver to MSC all such property belonging to MSC or any of its affiliates.

 

III.                            Compensation.

 

A.                                    Consulting
Fee.  As consideration for
Consultant’s services during the Consulting Term, MSC shall pay Consultant a monthly
consulting fee (the “Consulting Fee”) equal to Fourteen Thousand Dollars
($14,000).  The first month with respect
to which the Consulting Fee shall be paid is February 2005.  The last month with respect to which the
Consulting Fee shall be paid is the month in which the Consulting Term
terminates, but in all cases no later than February 2007.  MSC shall pay the Consulting Fee with respect
to any particular month during the Consulting Term no later than ten (10) days
following the end of such month.  The
Consulting Fee shall be prorated for any partial month of service during the
Consulting Term.

 

B.                                    Benefits.  Consultant shall not be entitled to
participate in any vacation, medical, retirement, or other fringe benefit of
MSC and shall not make claim of entitlement to any such employee program or
benefit.  For purposes of clarity, the
preceding sentence does not limit or supersede any express rights that
Consultant may have under and pursuant to Section IV of the Separation
Agreement.

 

IV.                            Termination.

 

A.                                    Termination. MSC may terminate Consultant’s
engagement at any time, with or without cause, upon fourteen (14) days’ written
notice.

 

B.                                    Obligations
of MSC Upon Termination.

 

1.                                       Termination
for Cause.  If Consultant’s
engagement is terminated by MSC for Cause, this Consulting Agreement, save and
except Sections VI, VII, VIII, IX, X, XI and XII, and the Consulting Term shall
terminate without further obligations to Consultant under this Consulting Agreement,
other than for payment of Consultant’s monthly Consulting Fee through the date
of termination to the extent not theretofore paid (with the Consulting Fee for
the month of such termination pro-rated for the number of days in the month
completed prior to such termination).

 

2

 

For purposes of this Consulting Agreement and except
as provided in the next sentence, “Cause” shall mean any time the MSC Board
of Directors determines, based on its reasonable belief at the time based on
the information then known to it, that any of the following events or
contingencies exists or has occurred: (i) Consultant has been negligent in the
discharge of Consultant’s responsibilities and obligations hereunder; (ii)
Consultant has refused to perform Consultant’s responsibilities and obligations
hereunder; (iii) Consultant has failed to perform his responsibilities and
obligations hereunder in a reasonably satisfactory manner; (iv) Consultant has
been dishonest or committed or engaged in an act of moral turpitude, theft,
embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure
or use of inside information, customer lists, trade secrets or other
confidential information; or (v) Consultant has breached any of the provisions
of any agreement with MSC or any of its affiliates (including, without
limitation, a breach by Consultant of any provision of this Consulting
Agreement or the Separation Agreement).  For
purposes of this Consulting Agreement upon and after the occurrence of a Change
in Control Event (as such term is defined in the MSC.Software Corporation 2001
Stock Option Plan, as amended) of MSC that occurs after the Effective Date, “Cause”
shall mean any time the MSC Board of Directors determines, based on its
reasonable belief at the time based on the information then known to it, that
any of the following events or contingencies exists or has occurred: (i)
Consultant has willfully refused to perform Consultant’s responsibilities and
obligations hereunder; (ii) Consultant has willfully been dishonest or
committed or engaged in an act of moral turpitude, theft, embezzlement or
fraud, a breach of confidentiality, an unauthorized disclosure or use of inside
information, customer lists, trade secrets or other confidential information
that, in any event either alone or together, has (or have) a material adverse
effect on MSC; or (iii) Consultant has willfully breached any of the provisions
of any agreement with MSC or any of its affiliates (including, without
limitation, a breach by Consultant of any provision of this Consulting
Agreement or the Separation Agreement) that (alone or together with any other such
breaches) has a material adverse effect on MSC. 
Notwithstanding anything in the preceding two sentences to the contrary,
if Consultant’s conduct or actions (or lack thereof) would otherwise constitute
Cause and a cure by Consultant is reasonable in the circumstances, Cause shall
not exist for purposes of this Consulting Agreement unless MSC gives notice to
Consultant of the conduct or actions (or lack thereof) at issue and, after a
reasonable period of time not to exceed thirty (30) days after the date of such
notice, Consultant has failed to remedy the situation to the reasonable
satisfaction of MSC; provided that in the case of any reoccurring conduct or
actions (or lack thereof), MSC shall be required to provide only one notice to
Consultant of the reoccurring conduct or actions (or lack thereof) at issue
during any six-month period of time.

 

2.                                       Termination
without Cause.  If Consultant’s
engagement is terminated by MSC without Cause (and other than due to Consultant’s
death), this Consulting Agreement, save and except paragraphs VI, VII, VIII,
IX, X, XI and XII, and the Consulting Term shall
terminate without further obligations to Consultant under this Consulting Agreement,
other than for payment of Consultant’s monthly

 

3

 

Consulting Fee through the date of termination to the
extent not theretofore paid (with the Consulting Fee for the month of such
termination pro-rated for the number of days in the month completed prior to
such termination); provided, however, that if the aggregate amount of the
monthly Consulting Fees paid or otherwise payable to the Consultant for his
services during the Consulting Period (including, without limitation, the
pro-rated Consulting Fee for the month of such termination) (the “Aggregate
Consulting Fee Paid”) is less than One Hundred Ninety Two Thousand Dollars
($192,000), MSC shall pay an additional termination payment to the Consultant
no later than thirty (30) days after the termination of Consultant’s engagement
equal to (i) One Hundred Ninety Two Thousand Dollars ($192,000), less (ii) the
amount of the Aggregate Consulting Fee Paid.

 

C.                                    Exclusive
Remedy.  Consultant agrees that
the payments contemplated by this Consulting Agreement shall constitute the
exclusive and sole remedy for any termination of his engagement and Consultant
covenants not to assert or pursue any other remedies, at law or in equity, with
respect to any termination of the engagement.

 

V.                                Relationship.  Consultant shall operate at all times as
an independent contractor of MSC.  This
Consulting Agreement does not authorize Consultant to act as an agent of MSC or
any of its affiliates or to make commitments on behalf of MSC or any of its affiliates.  Consultant and MSC intend that an independent
contractor relationship be created by this Consulting Agreement, and nothing
herein shall be construed as creating an employer/employee relationship,
partnership, joint venture, or other business group or concerted action.  Consultant at no time shall hold himself out
as an agent of MSC or any of its affiliates for any purpose, including
reporting to any governmental authority or agency, and shall have no authority
to bind MSC or any of its affiliates to any obligation whatsoever.

 

A.                                    Right
to Control.  Consultant shall
have the right to control and determine the method and means of performing the
above services; MSC shall not have the right to control or determine such
method or means, being interested only in the results obtained, and having the
general right of inspection and supervision in order to secure the satisfactory
completion of such services.

 

B.                                    Taxes.  Consultant and MSC agree that Consultant is
not an employee for state or federal tax purposes.  Consultant shall be solely responsible for any
taxes due as a result of the payment of the monthly Consulting Fee, and
Consultant will defend and indemnify MSC and each of its affiliates from and
against any tax liability that any of them may have with respect to any such
payment and against any and all losses or liabilities, including defense costs,
arising out of Consultant’s failure to pay any taxes due with respect to any
such payment.  If MSC reasonably
determines that applicable law requires that taxes should be withheld from any
payment of the monthly Consulting Fee, MSC reserves the right to withhold, as
legally required, and to notify Consultant accordingly.

 

C.                                    Workers’
Compensation and Unemployment Insurance.  Consultant is not entitled to worker’s
compensation benefits or unemployment compensation benefits provided by MSC.  Consultant shall be solely responsible for the
payment of his worker’s compensation,

 

4

 

unemployment
compensation, and other such payments.  MSC
will not pay for worker’s compensation for Consultant.  MSC will not contribute to a state unemployment
fund for Consultant.  MSC will not pay
the federal unemployment tax for Consultant.

 

D.                                    Employment
Policies Not Applicable.  Consultant
and MSC agree that Consultant shall not be subject to the provisions of any
personnel policy or rules and regulations applicable to employees, and
Consultant shall fulfill his duties independent of and without supervisory
control by MSC.

 

VI.                            Noncompetition.

 

A.                                    Consultant
agrees that, during the Consulting Term, he will not, directly or indirectly,
without the prior written consent of the CEO, provide consultative service with
or without pay, own, manage, operate, join, control, participate in, or be
connected as a stockholder, general partner, employee or otherwise with, any
business, individual, partner, firm, corporation, or other entity which is currently
or at that particular point in time in competition with (or has plans to engage
in business which would be in competition with) the business of MSC or any of
its affiliates.  Nothing in this section is
intended to prevent Consultant from owning up to one percent (1%) of the
publicly traded stock of any company.

 

B.                                    It
is expressly agreed that MSC and its affiliates will or would suffer
irreparable injury if Consultant were to compete with the business of any of
such entities in violation of this Consulting Agreement and that any such
entity would by reason of such competition be entitled to injunctive relief in
a court of appropriate jurisdiction. 
Consultant consents and stipulates to the entry of such injunctive
relief in such a court prohibiting him from competing with MSC or any of its affiliates
in violation of this Consulting Agreement.

 

C.                                    For
purposes of this Consulting Agreement, a business in competition with MSC or
its affiliates will be deemed to include (without limiting any other business
in competition with MSC or its affiliates) any business which is engaged in the
development, marketing and/or support of virtual product development tools for
the computer-aided engineering marketplace (including, without limitation,
simulation software and/o professional services).

 

VII.                        Confidential Information.

 

A.                                    Consultant,
in the performance of Consultant’s services on behalf of MSC, may have access
to, receive and be entrusted with (and in the past has, in fact, had access to,
received and been entrusted with) confidential information, including but in no
way limited to development, marketing, organizational, financial, management,
administrative, production, distribution and sales information, data,
specifications and processes presently owned or at any time in the future
developed, by MSC or any of its affiliates or its or their agents or
consultants, or used presently or at any time in the future in the course of
its or their business that is not otherwise part of the public domain
(collectively, the “Confidential Material”).  All such Confidential Material is considered
secret and, to the extent made available to Consultant, will be available to
Consultant in confidence.  Except in the
performance of services on behalf of MSC and its affiliates, Consultant shall
not, directly or indirectly for any reason whatsoever, disclose

 

5

 

or
use any such Confidential Material, unless such Confidential Material ceases
(through no fault of Consultant’s) to be confidential because it has become
part of the public domain or he is otherwise obligated to disclose such
information by the lawful order of any competent jurisdiction.  All records, files, drawings, documents,
equipment and other tangible items, wherever located, relating in any way to
the Confidential Material or otherwise to the business of MSC or any of its
affiliates, which Consultant prepares, uses or encounters, shall be and remain the
sole and exclusive property of such entity or entities and shall be included in
the Confidential Material.  Upon the
termination or expiration, as applicable, of the Consulting Term, or whenever
requested by MSC, Consultant shall promptly deliver to MSC any and all of the
Confidential Material, not previously delivered to MSC, that may be or at any
previous time has been in Consultant’s possession or under Consultant’s
control.

 

B.                                    Consultant
hereby acknowledges that the sale or unauthorized use or disclosure of any of
the Confidential Material by any means whatsoever and any time before, during
or after Consultant’s engagement with MSC shall constitute “Unfair
Competition.”  Consultant agrees that
Consultant shall not engage in Unfair Competition either during the time
engaged by MSC or any time thereafter.

 

VIII.                    Soliciting Customers.  Consultant promises and agrees that he
will not, during the Consulting Term and for a period of one year following the
termination or expiration, as applicable, of the Consulting Term, influence or
attempt to influence any customers of MSC or any of its affiliates, either
directly or indirectly, to divert their business to any individual,
partnership, firm, corporation or other entity which is currently or at that
particular point in time in competition with (or has plans to engage in
business which would be in competition with) the business of MSC or any of its affiliates.  Consultant acknowledges that during his
engagement with MSC, he will be given access to Confidential Material of MSC
and its affiliates (and in the past has, in fact, had access to, received and
been entrusted with Confidential Material), and that such Confidential Material
constitutes MSC’s trade secrets.  Consultant
acknowledges and agrees that this restriction is necessary in order for MSC and
its affiliates to preserve and protect their legitimate proprietary interest in
the Confidential Material and trade secrets.

 

IX.                           Soliciting Employees.  Consultant promises and agrees that he
will not, during the Consulting Term and for a period of one year following the
termination or expiration, as applicable, of the Consulting Term, directly or
indirectly solicit any employee of any MSC or any of its affiliates who earned
annually $25,000 or more as an employee of such entity during the last six
months of his or her own employment to work for any business, individual,
partnership, firm, or corporation.

 

X.                               Ownership.  Consultant agrees that any
software, hardware, equipment, or records, including all copies or extracts of
them which Consultant prepares, uses or sees during the Consulting Term in
relation to the performance of services hereunder shall be and remain the sole
property of MSC (or, if applicable, any affiliate of MSC).

 

A.                                    Ownership
of Copyrights. Consultant agrees that any work product, documentation,
and improvements made by Consultant during the term of this Consulting Agreement
that relate to the business activities of MSC belong exclusively to MSC as
works made for hire under the U.S. Copyright Law when such work is within the
scope of the services

 

6

 

to
be performed under this Consulting Agreement or if they were created using any
of MSC’s facilities or resources.

 

B.                                    Invention
Assignment.  Consultant agrees,
without further compensation or consideration, to disclose promptly to MSC any
and all inventions, improvements, data, processes, products, and computer
software (hereafter “matters subject to disclosure”) which, during the term of
this Consulting Agreement, Consultant may conceive, make, develop, or work on,
in whole or in part, solely or jointly with others, whether or not during
regular working hours, and which relate to the actual or anticipated business,
research, and/or development of MSC or any of its affiliates, or which result
from tasks assigned to Consultant by MSC or its affiliates.

 

1.                                       Consultant
agrees that all matters subject to disclosure, together with all related rights
(such as patents, trademarks, copyrights, designs, and trade secrets), shall be the property of MSC.

 

2.                                       Consultant
will, without further compensation or consideration, assign any and all
worldwide rights in and to the matters subject to disclosure to MSC and assist MSC
in every proper way including, without limitation.

 

a.                                       The
execution of any and all papers, applications for patents, and assignments to MSC.

 

b.                                      The
making and keeping of proper records.

 

c.                                       The
giving of evidence and testimony.

 

3.                                       Consultant
will do all of the above, and whatever else is necessary, to assist MSC in
obtaining patent, copyright, trademark, or trade secret protection in all
countries, and to perfect MSC’s ownership of the matters subject to
disclosure.  MSC agrees to pay all
reasonable expenses incurred by Consultant in providing this assistance.

 

4.                                       Consultant’s obligation to assign inventions
shall not apply to inventions, improvements, or discoveries listed below,
patented or unpatented, which Consultant developed and owned prior to the Effective
Date of this Consulting Agreement (if “None,” so state in Consultant’s
handwriting):

 

 

 

XI.                           Freedom to Enter Agreement. 
Consultant represents and warrants that Consultant is free to enter into
this Consulting Agreement and to perform each of its terms and covenants.  Consultant’s execution and performance of
this Consulting Agreement is not a violation or breach of any other agreement
between Consultant and any other person or entity.

 

7

 

XII.                       Miscellaneous.

 

A.                                    Successors.

 

1.                                       This
Consulting Agreement is personal to Consultant and shall not, without the prior
written consent of MSC, be assignable by Consultant.

 

2.                                       This
Consulting Agreement shall inure to the benefit of and be binding upon MSC and
its respective successors and assigns and any such successor or assignee shall
be deemed substituted for MSC under the terms of this Consulting Agreement for
all purposes.  As used herein, “successor”
and “assignee” shall include any person, firm, corporation or other business entity
which at any time, whether by purchase, merger or otherwise, directly or
indirectly acquires the ownership of MSC or to which MSC assigns this Consulting
Agreement by operation of law or otherwise.

 

B.                                    Waiver.  No waiver of any
breach of any term or provision of this Consulting Agreement shall be construed
to be, nor shall be, a waiver of any other breach of this Consulting Agreement.  No waiver shall be binding unless in writing
and signed by the party waiving the breach.

 

C.                                    Modification.  This
Consulting Agreement may not be amended or modified other than by a written
agreement executed by Consultant and the CEO.

 

D.                                    Complete Agreement. 
This Consulting Agreement and the Separation Agreement constitute and
contain the entire agreement and final understanding concerning Consultant’s
relationship with MSC and its affiliates and the other subject matters
addressed herein between the parties, and supersedes and replaces all prior
negotiations and all agreements proposed or otherwise, whether written or oral,
concerning the subject matters hereof.  The
Employee Confidentiality and Inventions Agreement by and between Consultant and
MSC and entered into on or about March 14, 2004 (the “Confidentiality
Agreement”) is outside of the scope of the
preceding sentence and shall continue in effect in accordance with its
terms.  Any representation, promise or
agreement not specifically included in this Consulting Agreement, the
Separation Agreement or the Confidentiality Agreement shall not be binding upon
or enforceable against either party.  This
Consulting Agreement, along with the Separation Agreement and the
Confidentiality Agreement, constitute an integrated agreement.

 

E.                                      Litigation and Investigation Assistance. 
In addition to the consulting services described in Section II,
Consultant agrees to cooperate in the defense of MSC or any of its affiliates
against any threatened or pending litigation or in any investigation or
proceeding by any governmental agency or body that relates to any events or
actions which occurred during or prior to the term of Consultant’s employment
or which relate to any events or actions which occur during the Consulting Term.  Furthermore, Consultant agrees to cooperate
in the prosecution of any claims and lawsuits brought by MSC or any of its
affiliates that are currently outstanding or that may in the future be brought
relating to matters which occurred during or prior to the term of Consultant’s
employment or which relate to any events or actions which occur during the
Consulting Term.  Except as requested by MSC
or as required by law,

 

8

 

Consultant shall
not comment upon any (i) threatened or pending claim or litigation
(including investigations or arbitrations) involving MSC or any of its
affiliates, or (ii) threatened or pending government investigation
involving MSC or any of its affiliates.

 

F.                                      Severability.  If
any provision of this Consulting Agreement or the application thereof is held
invalid, the invalidity shall not affect other provisions or applications of
the Consulting Agreement which can be given effect without the invalid
provisions or applications and to this end the provisions of this Consulting
Agreement are declared to be severable.

 

G.                                    Choice of Law.  This Consulting Agreement shall be deemed to
have been executed and delivered within the State of California, and the rights
and obligations of the parties hereunder shall be construed and enforced in
accordance with, and governed by, the laws of the State of California without
regard to principles of conflict of laws.

 

H.                                    Cooperation in Drafting. 
Each party has cooperated in the drafting and preparation of this Consulting
Agreement.  Hence, in any construction to
be made of this Consulting Agreement, the same shall not be construed against
any party on the basis that the party was the drafter.

 

I.                                         Counterparts.  This
Consulting Agreement may be executed in counterparts, and each counterpart,
when executed, shall have the efficacy of a signed original.  Photographic copies of such signed
counterparts may be used in lieu of the originals for any purpose.

 

J.                                      Arbitration.  Any dispute, claim or
controversy arising out of or relating to this Consulting Agreement, its
enforcement or interpretation, or because of an alleged breach, default, or
misrepresentation in connection with any of its provisions, including the
determination of the scope or applicability of this agreement to arbitrate,
shall be submitted to final and binding arbitration, to be held in Orange
County, California before a sole arbitrator; provided, however, that
provisional injunctive relief may, but need not, be sought in a court of law
while arbitration proceedings are pending, and any provisional injunctive
relief granted by such court shall remain effective until the matter is finally
determined by the arbitrator.  The
arbitration shall be administered by JAMS pursuant to its Comprehensive
Arbitration Rules and Procedures. 
Judgment on the award may be entered in any court having
jurisdiction.  In the event either party
institutes arbitration under this Consulting Agreement, the party prevailing in
any such proceeding, as determined by the arbitrator, shall be entitled, in
addition to all other relief, to reasonable attorneys’ fees relating to such
arbitration.  The nonprevailing party
shall be responsible for all costs of the arbitration, including but not
limited to, the arbitration fees, court reporter fees, etc.  Any dispute as to the reasonableness of costs
and expenses shall be determined by the arbitrator.

 

K.                                    Advice of Counsel.  In entering this Consulting Agreement, the
parties represent that they have relied upon the advice of their attorneys, who
are attorneys of their own choice, and that the terms of this Consulting
Agreement have been completely read and explained to them by their attorneys,
and that those terms are fully understood and voluntarily accepted by them.

 

9

 

L.                                     Supplementary Documents. 
All parties agree to cooperate fully and to execute any and all
supplementary documents and to take all additional actions that may be
necessary or appropriate to give full force to the basic terms and intent of
this Consulting Agreement and which are not inconsistent with its terms.

 

M.                                  Headings.  The section headings contained in this Consulting
Agreement are inserted for convenience only and shall not affect in any way the
meaning or interpretation of this Consulting Agreement.

 

10

 

I have
read the foregoing Consulting Agreement and I accept and agree to the
provisions it contains and hereby execute it voluntarily with full
understanding of its consequences.

 

EXECUTED this 10th day of February 2005,
at Orange County, California.

 

	
   

  	
  “Consultant”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Frank Perna, Jr.

  	
   

  
	
   

  	
  Frank Perna, Jr.

  
	
   

  	
   

  
	
   

  	
   

  
	
  EXECUTED this 10th day of February 2005,
  at Orange County, California.

  
	
   

  	
   

  
	
   

  	
  “MSC”

  
	
   

  	
   

  
	
   

  	
  MSC.Software
  Corporation,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ John Laskey

  	
   

  
	
   

  	
  By:

  	
  John Laskey

  	
   

  
	
   

  	
  Its:

  	
  Senior Vice President,

  	
   

  
	
   

  	
   

  	
  Chief Financial Officer

  	
   

  

 

11

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