Document:

EXHIBIT 10.23

  
 Exhibit 10.23

  
 QUADRAMED CORPORATION 
  
 AMENDMENT OF EMPLOYMENT AGREEMENT 
  
 THIS AGREEMENT (the “Agreement”), dated this
5th day of October, 2003, is by and between QuadraMed Corporation, a corporation organized under the laws of the
State of Delaware and having its principal place of business at 12110 Sunset Hills Road, Suite 600, Reston, Virginia 20190 (the “Company”), and Charles J. Stahl, an individual residing at (“Employee”), and

  
 WITNESSETH THAT: 
  
 WHEREAS, Employee and the Company have heretofore entered into an
employment agreement, dated as April 15, 2003 (the “Employment Agreement”); 
  
 WHEREAS, Employee and the Company desire to revise the Employment Agreement; 
  
 NOW, THEREFORE, Employee and the Company hereby agree that from and after the date of execution of this Agreement the Employment Agreement shall be
and is hereby amended as follows: 
  
 1. The Employment Agreement
and Section 10 thereof, pertaining to Employee’s severance benefits on certain terminations of his employment, is hereby amended by (i) redesignating Sections 10 C through D as Sections 10 D through E and adjusting appropriately all
cross-references to any of said Sections and (ii) adding a new Section 10 C to read in its entirety as follows: 
  
 “10 C. Option Acceleration. If Employee is terminated by reason of an Involuntary Termination of Employee’s
employment (other than a Termination for Cause), each of Employee’s Options under the Stock Option Plan and all restricted or unvested Common Stock granted by the Company will (to the extent not then otherwise exercisable or vested)
automatically accelerate and vest and any repurchase rights with respect thereto will terminate so that each such Option or share of restricted or unvested Common Stock will become immediately and fully exercisable or vested as of the date of
Involuntary Termination. Not withstanding the provisions of Section 5 of the Stock Option Plan, each such accelerated Option, together with all of Employee’s other vested Options, will remain exercisable for a period of three (3) years
following Employee’s Involuntary Termination and may be exercised for any or all of the option shares, including the accelerated shares, in accordance with the exercise provisions of the Option agreement evidencing the grant. If Employee is
terminated by reason of a Termination for Cause the provisions of this Section 10 C will not apply.” 
  

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 2. Except as provided in the preceding paragraphs of this Agreement, the provisions of the Employment
Agreement remain in full force and effect in accordance with their respective terms. 
  
 IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties hereto have caused this Agreement to be duly executed under seal as of the date first above written. 
  

			
	QUADRAMED CORPORATION
		
	By:	 	 /s/ Lawrence P. English

	 	 	

	 	 	 Lawrence P. English
 Its Chief Executive Officer

  

			
	EMPLOYEE
		
	By:	 	 /s/ Charles J. Stahl

	 	 	

	 	 	 Charles J. Stahl

  

 2EXHIBIT 10.24

  
 Exhibit 10.24

  
 QUADRAMED CORPORATION 
 STOCK ISSUANCE AGREEMENT 
  
 THIS AGREEMENT is made as of this 30th day of December, 2003, by and between QuadraMed Corporation (“Corporation”), and Lawrence P. English (“Participant”) a Participant in the Corporation’s 1996 Stock Incentive Plan. 
  
 All capitalized terms in this Agreement shall have the meaning assigned to
them in this Agreement or in the attached Appendix. 
  
 A. AWARD
OF SHARES 
  
 1. AWARD. On the terms and subject
to the conditions set forth in this Agreement, the Corporation hereby awards to the Participant, and the Participant accepts from the Corporation, a total of Six Hundred Seventy-Five Thousand (675,000) shares of Common Stock (the
“Shares”). The transfer of the Shares shall be subject to the restrictions provided in this Agreement and the transfer shall occur at the offices of the Corporation on the date set forth above or such other place and time as the parties
may agree. 
  
 2. STOCKHOLDER RIGHTS. Unless and
until the Shares are forfeited as hereinafter provided, the Participant (or any successor in interest) shall have all the rights of a stockholder (including voting, dividend and liquidation rights) with respect to the Shares, subject, however, to
the restrictions provided in this Agreement. 
  
 3. COMPLIANCE WITH LAW. Under no circumstances shall shares of Common Stock or other assets be issued or delivered to Participant pursuant to the provisions of this Agreement unless, in the opinion of counsel for the Corporation or its
successors, there shall have been compliance with all applicable requirements of Federal and state securities laws, all applicable listing requirements of any stock exchange (or the Nasdaq National Market, if applicable) on which the Common Stock is
at the time listed for trading and all other requirements of law or of any regulatory bodies having jurisdiction over such issuance and delivery. 
  
 B. RESTRICTIONS 
  
 1. RESTRICTIONS. Participant hereby accepts the Shares when issued and agrees with respect thereto as follows: 
  
 (a) Forfeiture Restrictions. The Shares may not be
sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of, other than by a Permitted Transfer, to the extent then subject to the Restrictions. In the event of termination of Participant’s employment
with the Corporation for any reason, Participant shall, for no consideration, forfeit to the Corporation all Shares except to the extent vesting is accelerated in accordance with Paragraph 5, 6 or 7. The prohibition against transfer and the
obligation to forfeit and surrender Shares to the Corporation upon termination of employment are 

  

 
herein referred to as “Restrictions.” The Restrictions shall be binding upon and enforceable against any transferee of the Shares. 
  
 (b) Lapse of Restrictions. 
  
 (i) The Restrictions shall lapse as to all the Shares on
April 15, 2007 provided that Participant has been continuously employed by the Corporation from the date of this Agreement through the lapse date. If the Participant’s employment is terminated for any reason prior to the lapse date, the
Participant shall forfeit all of the Shares, except to the extent vesting is accelerated in accordance with Paragraphs 5, 6 or 7. 
  
 (ii) Notwithstanding the foregoing, if the Participant terminates employment voluntarily or if the Participant’s employment is
involuntarily terminated due to Nonperformance or due to death or Permanent Disability, then upon the occurrence of such event, the Restrictions shall be deemed to have lapsed, and the Participant shall be deemed to have acquired a vested interest
in the Shares as follows: (i) twenty-five percent (25%) of the Shares shall be deemed to have vested on April 15, 2004; and (ii) the balance of the Shares shall thereafter be deemed to have vested in a series of thirty-six (36) equal monthly
installments upon the Participant’s completion of each month of Service after April 15, 2004. In addition, if the Participant terminates employment due to death or Permanent Disability, the Participant shall be credited with an additional
twelve (12) months of Service for purposes of the foregoing vesting schedule. Any shares for which the Restrictions are not deemed to have lapsed under the foregoing schedule shall be forfeited at the time of the Participant’s termination of
employment. 
  
 (c) Certificates. A
certificate evidencing the Shares shall be issued by the Corporation in Participant’s name, or at the option of the Corporation, in the name of a nominee of the Corporation, pursuant to which Participant shall have voting rights and shall be
entitled to receive all dividends unless and until the Shares are forfeited pursuant to the provisions of this Agreement. The certificate shall bear a legend evidencing the restricted nature of the Shares, as more particularly described at Paragraph
2(b), below, and the Corporation may cause the certificate to be delivered upon issuance to the Secretary of the Corporation or to such other depository as may be designated by the Corporation as a depository for safekeeping until the forfeiture
occurs or the Forfeiture Restrictions lapse pursuant to this Agreement. Upon request of the Corporation, Participant shall deliver to the Corporation a stock power, endorsed in blank, relating to the Shares then subject to the Forfeiture
Restrictions. The Corporation shall not be obligated to issue or deliver any shares of the Corporation’s stock if the issuance or delivery thereof shall constitute a violation of any provision of any law or of any regulation of any governmental
authority or any stock exchange (or Nasdaq National Market, if applicable). 
  
 (d) Adjustments. In the event of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or similar transaction affecting the Corporation’s outstanding
securities, any new, substituted or additional securities or other property which by reason of such transaction are distributed with respect to any Shares or into which such Shares thereby became convertible shall immediately be subject to the
restrictions described in this Paragraph 2. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of the Shares. 
  

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 2. RESTRICTIVE LEGEND. The stock certificate for the Shares shall be endorsed with the
following restrictive legend: 
  
 “The
shares represented by this certificate are unvested and subject to certain restrictions and accordingly may not be sold, assigned, transferred, encumbered, or in any manner disposed of except in conformity with the terms of a written agreement dated
December 30, 2003 between the Corporation and the registered holder of the shares (or the predecessor in interest to the shares). A copy of such agreement is maintained at the Corporation’s principal corporate offices.” 
  
 3. TRANSFEREE OBLIGATIONS. Each person (other than the
Corporation) to whom the Shares are transferred by means of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Corporation that such person is bound by the provisions of this Agreement
and that the transferred shares are subject to the Restrictions to the same extent such shares would be so subject if retained by Participant. 
  
 4. RECAPITALIZATION. Any new, substituted or additional securities or other property (including cash paid other than as a regular cash
dividend) which is by reason of any Recapitalization distributed with respect to the Shares shall be immediately subject to the Restrictions, but only to the extent the Shares are at the time covered by such Restrictions. Appropriate adjustments to
reflect such distribution shall be made to the number and/or class of securities subject to this Agreement in order to reflect the effect of any such Recapitalization upon the Corporation’s capital structure. 
  
 5. CESSATION OF SERVICE: 
  
 (a) Should the Participant’s employment be terminated
due to an Involuntary Termination, then, upon the occurrence of such event, the Restrictions shall automatically lapse in their entirety, and the Shares shall vest in full. 
  
 (b) Should the Participant’s employment terminate due to a “Termination for Cause” (as
defined in the Participant’s employment agreement), any unvested Shares shall be immediately forfeited. 
  
 6. CORPORATE TRANSACTION. 
  
 (a) Immediately prior to the consummation of any Corporate Transaction, the Restrictions shall automatically lapse in their entirety and
the Shares shall vest in full, except to the extent the Restrictions are to be assigned to the successor corporation (or parent thereof) in connection with the Corporate Transaction. 
  
 (b) To the extent the Restrictions are assigned to the successor corporation (or parent thereof) in
connection with a Corporate Transaction, no accelerated vesting of the Shares shall occur upon such Corporate Transaction, and the Restrictions shall 

  

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continue to remain in full force and effect in accordance with the provisions of this Agreement. The Participant shall, over Participant’s period of
Service following the Corporate Transaction, continue to vest in the Shares in accordance with the provisions of this Agreement. However, immediately upon an Involuntary Termination of Participant’s Service within twenty-four (24) months
following the Corporate Transaction, the Restrictions shall terminate automatically and all the Shares shall vest in full. 
  
 (c) To the extent the Restrictions remain in effect following a Corporate Transaction, such right shall apply to the new capital stock or
other property (including any cash payments) received in exchange for the Shares in consummation of the Corporate Transaction, but only to the extent the Shares are at the time covered by such right. Appropriate adjustments shall be made to reflect
the effect of the Corporate Transaction upon the Corporation’s capital structure. Notwithstanding the foregoing, however, if the Participant terminates his employment for any reason within sixty (60) days following a Corporate Transaction, the
Restrictions shall terminate with respect to fifty percent (50%) of the Shares subject to this Agreement (as adjusted, if applicable) that are not yet vested. 
  

7. CHANGE IN CONTROL. If this Agreement is not assumed or otherwise continued in full force and effect after the Change in Control, the
Restrictions shall terminate automatically and all the Shares shall vest in full. No accelerated vesting of the Shares shall occur upon a Change in Control, and the Restrictions shall continue to remain in full force and effect in accordance with
the provisions of the this Agreement provided this Agreement is assumed or otherwise continued in effect after the Change in Control. In such case, the Participant shall, over Participant’s period of Service following the Change in Control,
continue to vest in the Shares in accordance with the provisions of the this Agreement. However, immediately upon an Involuntary Termination of Participant’s Service at any time following the Change in Control, the Restrictions shall terminate
automatically and all the Shares shall vest in full. Notwithstanding the foregoing, however, if the Participant terminates his employment for any reason within sixty (60) days following a Change in Control, the Restrictions shall terminate with
respect to fifty percent (50%) of the Shares subject to this Agreement (as adjusted, if applicable) that are not yet vested. 
  
 C. SPECIAL TAX ELECTION 
  
 1. SECTION 83(b) ELECTION . Under Code Section 83, the excess of the fair market value of the Shares on the date any Forfeiture
Restrictions applicable to such shares lapse over the purchase price (if any) paid for such shares will be reportable as ordinary income on the lapse date. The Participant may elect under Code Section 83(b) to be taxed at the time the Shares are
acquired, rather than when and as such Shares cease to be subject to such forfeiture restrictions. Such election must be filed with the Internal Revenue Service within thirty (30) days after the date of this Agreement. Even if no amount is paid for
the Shares awarded hereunder (and thus no tax is payable), the election must be made to avoid adverse tax consequences in the future. THE FORM FOR MAKING THIS ELECTION IS ATTACHED AS EXHIBIT I HERETO. PARTICIPANT UNDERSTANDS THAT FAILURE TO MAKE
THIS FILING WITHIN THE APPLICABLE THIRTY (30)-DAY PERIOD WILL RESULT IN THE RECOGNITION OF ORDINARY INCOME AS THE FORFEITURE RESTRICTIONS LAPSE. 
  

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 2. FILING RESPONSIBILITY. PARTICIPANT ACKNOWLEDGES THAT IT IS PARTICIPANT’S SOLE
RESPONSIBILITY, AND NOT THE CORPORATION’S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF PARTICIPANT REQUESTS THE CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS BEHALF. 
  
 D. GENERAL PROVISIONS 
  
 1. NO RIGHT TO FUTURE AWARDS; EXTRAORDINARY ITEM OF
COMPENSATION. By entering into this Agreement, the Participant acknowledges: (i) that the award of the Shares is a one-time benefit which does not create any contractual or other right to receive future awards or benefits in lieu of such awards;
(ii) that all determinations with respect to any such future awards, including, but not limited to, the times when awards shall be granted, the number of shares subject to each award, and the terms of each award, will be at the sole discretion of
the Board; and (iii) that the award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar
payments. 
  
 2. NO EMPLOYMENT OR SERVICE
CONTRACT. Nothing in this Agreement shall confer upon Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby expressly reserved by each, to terminate Participant’s Service at any time for any reason, with or without cause. 
  
 3. NOTICES. Any notice required to be given or delivered to
QuadraMed under the terms of this Agreement shall be in writing and addressed to QuadraMed at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the most recent
address reflected in QuadraMed’s employment records. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
  
 4. NO WAIVER. The Waiver by the Corporation of a breach of
any provision of this Agreement by Participant shall not operate or be construed as a waiver of any subsequent breach of Participant. 
  
 E. MISCELLANEOUS PROVISIONS 
  
 1. PARTICIPANT UNDERTAKING. Participant hereby agrees to take whatever additional action and execute whatever additional documents the
Corporation may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either Participant or the Shares pursuant to the provisions of this Agreement. 
  

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 2. AGREEMENT IS ENTIRE CONTRACT. This Agreement constitutes the entire contract between
the parties hereto with regard to the subject matter hereof. It supersedes any other agreements, representations or understandings (whether oral or written and whether express or implied) relating to the subject matter hereof. 
  
 3. GOVERNING LAW. This Agreement shall be governed by, and
construed in accordance with, the laws of the Commonwealth of Virginia without resort to its conflict-of-laws rules. 
  
 4. COUNTERPARTS. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which
together shall constitute one and the same instrument. 
  
 5. SUCCESSORS AND ASSIGNS. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Participant, Participant’s assigns and the legal representatives,
heirs and legatees of Participant’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the terms hereof. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
year first indicated above. 
  

			
	QUADRAMED CORPORATION
		
	By:	 	 
	 	 	

		
	Title:	 	 
	 	 	

			
		
	Address:	 	 
	 	 	

		
	 	 	 
	

		
	 	 	 
	

	Lawrence P. English

			
		
	Address:	 	 
	 	 	

		
	 	 	 
	

  

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 EXHIBIT I 
  
 SECTION 83(b) TAX ELECTION 
  
 This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2. 
  
 (1) The taxpayer who performed the services is: 
  
 Name: 
 Address: 
 Taxpayer Ident. No.: 
  
 (2) The property with respect to which the election is being made is
                 shares of the common stock of QuadraMed Corporation 
  
 (3) The property was issued on                 , 200  .

  
 (4) The taxable year in which the election is being made is the calendar year
200  . 
  
 (5) The property is subject to a restriction pursuant
to which the taxpayer shall forfeit his interest with property if for any reason taxpayer’s employment with the issuer is terminated. The issuer’s repurchase right lapses at the expiration of a three (3) year period ending on
                , 200  . 
  
 (6) The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$                 per share. 
  
 (7) The amount paid for such property is $                 per share. 

 
 (8) A copy of this statement was furnished to QuadraMed Corporation for whom taxpayer
rendered the services underlying the transfer of property. 
  
 (9) This statement
is executed on                 , 200  . 
  

					
			
	  	 	 	 	  
	
	 	 	 	

	 Spouse (if any)
	 	 	 	 Taxpayer

  
 This election must be filed with the
Internal Revenue Service Center with which taxpayer files his or her Federal income tax returns and must be made within thirty (30) days after the execution date of the Stock Issuance Agreement. This filing should be made by registered or certified
mail, return receipt requested. Participant must retain two (2) copies of the completed form for filing with his or her Federal and state tax returns for the current tax year and an additional copy for his or her records. 
  

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 APPENDIX 
  
 The following definitions shall be in effect under the Agreement: 
  
 A. AGREEMENT shall mean this Stock Issuance Agreement. 
  
 B. BOARD shall mean the Corporation’s Board of Directors. 
  
 C. CHANGE IN CONTROL shall be deemed to occur in the event of a change in
ownership or control of the Corporation effected through either of the following transactions: 
  
 (i) the direct or indirect acquisition by any person or related group of persons (other than the Corporation or a person that directly or
indirectly controls, is controlled by, or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended) of securities possessing more than fifty percent
(50%) of the total combined voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s stockholders which the Board does not recommend such stockholders to accept, or

  
 (ii) a change in the composition of the Board
over a period of thirty-six (36) months or less such that a majority of the Board members ceases by reason of one or more contested elections for Board membership, to be comprised of individuals who either (A) have been Board members continuously
since the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time such election or
nomination was approved by the Board. 
  
 D. CODE shall mean the
Internal Revenue Code of 1986, as amended. 
  
 E. COMMON STOCK
shall mean the Corporation’s common stock. 
  
 F. CORPORATE
TRANSACTION shall mean either of the following stockholder-approved transactions: 
  
 (i) a merger or consolidation in which securities possessing more than fifty percent (50%) of the total combined voting power of the
Corporation’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or 
  
 (ii) the sale, transfer or other disposition of all or substantially all of the Corporation’s assets in
complete liquidation or dissolution of the Corporation. 
  
 G.
CORPORATION shall mean QuadraMed Corporation, a Delaware corporation. 
  

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 H. INVOLUNTARY TERMINATION shall mean the termination of Participant’s Service by reason of:

  
 (i) Participant’s involuntary dismissal
or discharge by the Corporation for reasons other than a Termination for Cause (as defined in the Participant’s employment agreement with the Corporation), or 
  
 (ii) Participant’s voluntary resignation following (A) a change in Participant’s position with the
Corporation (or Parent or Subsidiary employing Participant) which materially reduces Participant’s level of responsibility, (B) a reduction in Participant’s level of compensation (including base salary, fringe benefits and participation in
any corporate-performance based bonus or incentive programs) by more than fifteen percent (15%) or (C) a relocation of Participant’s place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is
effected by the Corporation without Participant’s consent. 
  
 I. NONPERFORMANCE shall mean a determination by the Board, in its reasonable good faith judgment after notice to the Optionee and a hearing at which the Optionee shall be entitled to present evidence, that (i) the Corporation has failed in
a material respect to achieve the financial and other objectives established in the Corporation’s then-applicable operating budget and business plan, and (ii) such failure is demonstrably the result of the Optionee’s non-performance of his
duties and responsibilities. 
  
 J. OWNER shall mean Participant
and all subsequent holders of the Shares who derive their chain of ownership through a Permitted Transfer from Participant. 
  
 K. PARENT shall mean any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation, provided each
corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such
chain. 
  
 L. PARTICIPANT shall mean the person to whom the Shares
are issued under the Stock Issuance Program. 
  
 M. PERMANENT
DISABILITY shall mean the inability of Optionee to perform his or her usual duties as an executive officer of the Corporation by reason of any medically determinable physical or mental impairment which is expected to result in death or has lasted or
can be expected to last for a continuous period of twelve (12) months or more. 
  
 N. PERMITTED TRANSFER shall mean (i) a gratuitous transfer of the Shares, provided and only if Participant obtains the Corporation’s prior written consent to such transfer, (ii) a transfer of title to the Shares
effected pursuant to Participant’s will or the laws of intestate succession following Participant’s death or (iii) a transfer to the Corporation in pledge as security for any purchase-money indebtedness incurred by Participant in
connection with the acquisition of the Purchased Shares. 
  

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 O. PLAN shall mean the Corporation’s 1996 Stock Incentive Plan. 
  
 P. PLAN ADMINISTRATOR shall mean either the Board or a committee of the Board
acting in its administrative capacity under the Plan. 
  
 Q.
RECAPITALIZATION shall mean any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the Corporation’s outstanding Common Stock as a class without the Corporation’s receipt of
consideration. 
  
 R. REORGANIZATION shall mean any of the
following transactions: 
  
 (i) a merger or
consolidation in which the Corporation is not the surviving entity, 
  
 (ii) a sale, transfer or other disposition of all or substantially all of the Corporation’s assets, 
  
 (iii) a reverse merger in which the Corporation is the surviving entity but in which the Corporation’s outstanding voting securities
are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to the merger, or 
  
 (iv) any transaction effected primarily to change the state in which the Corporation is incorporated or to create a holding company
structure. 
  
 S. RESTRICTIONS shall mean the restrictions imposed
on the Shares as described in Paragraph B.1. 
  
 T. SHARES shall
have the meaning assigned to such term under Paragraph B.1. 
  
 U.
SERVICE shall mean the Participant’s performance of services for the Corporation (or any Parent or Subsidiary) in the capacity of an employee, subject to the control and direction of the employer entity as to both the work to be performed and
the manner and method of performance, a non-employee member of the board of directors or a consultant. 
  
 V. STOCK ISSUANCE PROGRAM shall mean the Stock Issuance Program under the Plan. 
  
 W. SUBSIDIARY shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with
the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain. 
  

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 X. VESTING SCHEDULE shall mean the vesting schedule specified in Paragraph B.1, subject to the
acceleration provisions of Paragraphs B.5 and B.6. 
  
 Y. UNVESTED
SHARES shall have the meaning assigned to such term in Paragraph C.1 
  

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