Document:

Exhibit 10.2

 

ANIKA THERAPEUTICS, INC.

 

Form of Change in Control, Bonus
and Severance Agreement

 

 

AGREEMENT made as
of October 6, 2004 by and among Anika Therapeutics, Inc., a Massachusetts
corporation with its principal place of business in Woburn, Massachusetts (the “Company”),
and Carol A. Toth, of East Walpole, Massachusetts (the “Executive”), an
individual presently employed as the  Senior Vice President Marketing and Business
Development of the Company.

 

1.             Purpose.  The Company considers it essential to the
best interests of its stockholders to foster the continuous employment of key
management personnel.  The Board of
Directors of the Company (the “Board”) recognizes, however, that, as is the
case with many publicly held corporations, the possibility of a Change in
Control (as defined in Section 2 hereof) exists and that such possibility,
and the uncertainty and questions which it may raise among management, may
result in the departure or distraction of management personnel to the detriment
of the Company and its stockholders. 
Therefore, the Board has determined that appropriate steps should be
taken to reinforce and encourage the continued attention and dedication of
members of the Company’s management, including the Executive, to their assigned
duties without distraction in the face of potentially disturbing circumstances
arising from the possibility of a Change in Control.  Nothing in this Agreement shall be construed
as creating an express or implied contract of employment and, except as
otherwise agreed in writing between the Executive and the Company, the
Executive shall not have any right to be retained in the employ of the Company.

 

2.             Change in Control.  A “Change in Control” shall mean the
occurrence of any one of the following events:

 

(a)           any “person,” as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Act”)
(other than the Company, any of its subsidiaries, any trustee, fiduciary or
other person or entity holding securities under any employee benefit plan or
trust of the Company or any of its subsidiaries), together with all “affiliates”
and “associates” (as such terms are defined in Rule 12b-2 under the Act) of
such person, shall become the “beneficial owner” (as such term is defined in
Rule 13d-3 under the Act), directly or indirectly, of securities of the Company
representing 51% or more of the combined voting power of the Company’s then
outstanding securities having the right to vote in an election of the Company’s
Board of Directors (“Voting Securities”); or

 

(b)           persons who, as of the date hereof,
constitute the Company’s Board of Directors (the “Incumbent Directors”) cease
for any reason, including, without limitation, as a result of a tender offer,
proxy contest, merger or similar transaction, to constitute at least a majority
of the Board, provided that any person becoming a director of the Company
subsequent to the date hereof whose election or nomination for election was
approved by a vote of at least a majority of the Incumbent Directors shall, for
purposes of this Agreement, be considered an Incumbent Director; or

 

 

1

 

(c)           the stockholders of the Company shall
approve (A) any consolidation or merger of the Company where the shareholders
of the Company, immediately prior to the consolidation or merger, would not,
immediately after the consolidation or merger, beneficially own (as such term
is defined in Rule 13d-3 under the Act), directly or indirectly, shares
representing in the aggregate 51% of the voting shares of the corporation
issuing cash or securities in the consolidation or merger (or of its ultimate
parent corporation, if any), (B) any sale, lease, exchange or other transfer
(in one transaction or a series of transactions contemplated or arranged by any
party as a single plan) of all or substantially all of the assets of the
Company or (C) any plan or proposal for the liquidation or dissolution of the
Company.

 

Notwithstanding
the foregoing, a “Change in Control” shall not be deemed to have occurred for
purposes of the foregoing clause (a) solely as the result of an acquisition of
securities by the Company which, by reducing the number of shares of Voting
Securities outstanding, increases the proportionate voting power represented by
the Voting Securities beneficially owned by any person to 51% or more of the
combined voting power of all then outstanding Voting Securities; provided,
however, that if any person referred to in this sentence shall thereafter
become the beneficial owner of any additional shares of Voting Securities
(other than pursuant to a share split, stock dividend or similar transaction or
direct purchase from the Company), then a “Change in Control” shall be deemed
to have occurred for purposes of the foregoing clause (a).

 

3.             Terminating Event.  A “Terminating Event” shall mean any of the
events provided in this Section 3 occurring within twelve (12) months
subsequent to a Change in Control as defined in Section 2:

 

(a)           termination by the Company of the
employment of the Executive with the Company for any reason other than for
Cause or the death of the Executive.  “Cause”
shall mean, and shall be limited to, the occurrence of any one or more of the
following events:

 

(i)            a willful act of dishonesty by the
Executive with respect to any matter involving the Company;

 

(ii)           conviction of the Executive of a
crime involving moral turpitude; or

 

(iii)          the deliberate or willful failure by
the Executive (other than by reason of the Executive’s physical or mental
illness, incapacity or disability) to substantially perform the Executive’s
duties with the Company and the continuation of such failure for a period of 30
days after delivery by the Company to the Executive of written notice
specifying the scope and nature of such failure and its intention to terminate
the Executive for Cause.

 

A Terminating
Event shall not be deemed to have occurred pursuant to this Section 3(a)
solely as a result of the Executive being an employee of any direct or indirect
successor to the business or assets of the Company, rather than continuing as
an employee of the Company following a Change in Control.

 

2

 

 

(b)           termination by the Executive of the
Executive’s employment with the Company for Good Reason.  “Good Reason” shall mean the occurrence of
any of the following events:

 

(i)            a
substantial adverse change in the nature or scope of the Executive’s
responsibilities or duties from the responsibilities or duties exercised by the
Executive immediately prior to the Change in Control, it being understood by
the parties hereto, that so long as the Executive retains primary research and
development responsibilities for the business conducted by Anika immediately
prior to the Change in Control, Good Reason shall not exist under this
Section 3(b)(i); or

 

(ii)           a reduction in the Executive’s annual
base salary and/or benefits as in effect on the date hereof or as the same may
be increased from time to time except for across-the-board salary and/or
benefits reductions similarly affecting all or substantially all management
employees.

 

For purposes of
this Section 3, unless the context otherwise requires, Company shall mean the
Company or any successor thereto or to the business thereof in a transaction
involving a Change in Control.

 

4.             Special Termination Payments.  In the event a Terminating Event occurs
within twelve (12) months after a Change in Control in lieu of any payments
under the Employment Letter (as hereinafter defined),

 

(a)           the Company shall pay to the Executive,
in addition to the payment, if any, required by Section 5, an amount equal
to 100% of the Executive’s annual salary as in effect immediately prior to the
Change in Control, said amount shall be paid in one lump sum payment no later
than thirty-one (31) days following the Date of Termination (as such term is
defined in Section 9(b)); and

 

(b)           the Company shall continue to provide
health, dental, long-term disability, life insurance and other fringe benefits
to the Executive, on the same terms and conditions (including any required co­-payments)
as though the Executive had remained an active employee, for twelve (12) months; and

 

(c)           to the extent permitted under
applicable documents, the Company shall provide COBRA benefits to the Executive
following the end of the period referred to in Section 4(b) above, such
benefits to be determined as though the Executive’s employment had terminated
at the end of such period.

 

5.             Payment Upon Effective Date of
Change in Control.  Upon the
effective date of a Change in Control, regardless of whether a Terminating
Event has occurred, in addition to any other payment required by
Section 4, the Company shall pay the Executive an amount in cash
representing fifty percent (50%) of the Executive’s annual salary as in effect
immediately prior to

 

3

 

the Change in
Control.  Said amount shall be paid in
one lump sum payment no later than thirty-one (31) days following the effective
date of a Change in Control.

 

6.             Certain Limitations.  It is the intention of the Executive and of
the Company that no payments by the Company to or for the benefit of the
Executive under this Agreement or any other agreement or plan, if any, pursuant
to which the Executive is entitled to receive payments or benefits shall be
nondeductible to the Company by reason of the operation of Section 280G of the
Code relating to parachute payments or any like statutory or regulatory
provision.  Accordingly, and
notwithstanding any other provision of this Agreement or any such agreement or
plan, if by reason of the operation of said Section 280G or any like statutory
or regulatory provision, any such payments exceed the amount which can be
deducted by the Company, such payments shall be reduced to the maximum amount which
can be deducted by the Company.  To the
extent that payments exceeding such maximum deductible amount have been made to
or for the benefit of the Executive, such excess payments shall be refunded to
the Company with interest thereon at the applicable Federal rate determined
under Section 1274(d) of the Code, compounded annually, or at such other rate
as may be required in order that no such payments shall be nondeductible to the
Company by reason of the operation of said Section 280G or any like statutory
or regulatory provision.  To the extent
that there is more than one method of reducing the payments to bring them
within the limitations of said Section 280G or any like statutory or
regulatory provision, the Executive shall determine which method shall be
followed, provided that if the Executive fails to make such determination
within forty-five (45) days after the Company has given notice of the need for
such reduction, the Company may determine the method of such reduction in its
sole discretion.

 

7.             Term.  This Agreement shall take effect on the date
first set forth above and shall terminate upon the earliest of (a) the
termination by the Company of the employment of the Executive for Cause; (b)
the cessation of the Executive’s employment with the Company for any reason or
the resignation or termination of the Executive for any reason, in each case,
prior to a Change in Control; or (c) the resignation of the Executive after a
Change in Control for any reason other than for Good Reason.

 

8.             Withholding.  All payments made by the Company under this
Agreement shall be net of any tax or other amounts required to be withheld by
the Company under applicable law.

9.                       Notice
and Date of Termination; Disputes; Etc.

(a)           Notice of Termination.  After a Change in Control and during the term
of this Agreement, any purported termination of the Executive’s employment
(other than by reason of death) shall be communicated by written Notice of
Termination from one party hereto to the other party hereto in accordance with this
Section 9.  For purposes of this
Agreement, a “Notice of Termination” shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon and the Date
of Termination.  Further, a Notice of
Termination for Cause is required to include a copy of a resolution duly
adopted by the affirmative vote of not less than a majority of the entire
membership of the Board (exclusive of the Executive) at a meeting of the Board
(after reasonable notice to the Executive and an opportunity for the Executive,
accompanied by the Executive’s counsel, to be heard before

 

4

 

the Board) finding
that, in the good faith opinion of the Board, the termination met the criteria
for Cause set forth in Section 3(a) hereof.

 

(b)           Date of Termination.  “Date of Termination,” with respect to any
purported termination of the Executive’s employment after a Change in Control
and during the term of this Agreement, shall mean the date specified in the
Notice of Termination.  In the case of a
termination by the Company other than a termination for Cause (which may be
effective immediately), the Date of Termination shall not be less than 30 days
after the Notice of Termination is given. 
In the case of a termination by the Executive, the Date of Termination
shall not be less than 15 days from the date such Notice of Termination is
given.  Notwithstanding Section 3(a)
of this Agreement, in the event that the Executive gives a Notice of
Termination to the Company, the Company may unilaterally accelerate the Date of
Termination and such acceleration shall not result in a second Terminating
Event for purposes of Section 3(a) of this Agreement.

 

(c)           No Mitigation.  The Company agrees that, if the Executive’s
employment by the Company is terminated during the term of this Agreement, the
Executive is not required to seek other employment or to attempt in any way to
reduce any amounts payable to the Executive by the Company pursuant to Sections
4 and 5 hereof.  Further, the amount of
any payment provided for in this Agreement shall not be reduced by any
compensation earned by the Executive as the result of employment by another
employer, by retirement benefits, by offset against any amount claimed to be
owed by the Executive to the Company, or otherwise.

 

(d)           Mediation of Disputes.  The parties shall endeavor in good faith to
settle within 90 days any controversy or claim arising out of or relating to
this Agreement or the breach thereof through mediation with J.A.M.S./Endispute
or similar organizations.  If the
controversy or claim is not resolved within 90 days, the parties shall be free
to pursue other legal remedies in law or equity.

 

10.           Assignment; Prior Agreements; Non-Solicitation.  Except for an assignment by the Company in
connection with a Change in Control in which the successor, if other than the
Company, shall assume and agree to perform this Agreement in writing, neither
the Company nor the Executive may make any assignment of this Agreement or any
interest herein, by operation of law or otherwise, without the prior written
consent of the other party, and without such consent any attempted transfer
shall be null and void and of no effect. 
This Agreement shall inure to the benefit of and be binding upon the
Company and the Executive, their respective successors, executors,
administrators, heirs and permitted assigns. 
In the event of the Executive’s death after a Terminating Event but
prior to the completion by the Company of all payments due him under
Sections 4 and 5 of this Agreement, the Company shall continue such
payments to the Executive’s beneficiary designated in writing to the Company
prior to his death (or to his estate, if the Executive fails to make such
designation).  This Agreement supercedes
all prior Agreements, whether written or oral with respect to the subject
matter hereof.  Notwithstanding the
foregoing that certain Non-Disclosure and Non-Competition Agreement of March
17, 2003, by and between Executive and the Company shall remain in full force and
effect in accordance with its terms.

 

5

 

Executive
covenants to the Company that during his employment with the Company and until
one (1) year from the date he is no longer employed by the Company, any affiliate
thereof or any successor thereto, he will not in any manner, on his own behalf,
or as a partner, officer, director, employee, agent or entity, directly or
indirectly, induce or attempt to influence any person serving as an employee of
the Company or any successor thereto to leave its employ or hire any such
person.

 

11.           Enforceability.  If any portion or provision of this Agreement
shall to any extent be declared illegal or unenforceable by a court of
competent jurisdiction, then the remainder of this Agreement, or the
application of such portion or provision in circumstances other than those as
to which it is so declared illegal or unenforceable, shall not be affected
thereby, and each portion and provision of this Agreement shall be valid and
enforceable to the fullest extent permitted by law.

 

12.           Waiver.  No waiver of any provision hereof shall be
effective unless made in writing and signed by the waiving party.  The failure of any party to require the
performance of any term or obligation of this Agreement, or the waiver by any
party of any breach of this Agreement, shall not prevent any subsequent
enforcement of such term or obligation or be deemed a waiver of any subsequent
breach.

 

13.           Notices.  Any notices, requests, demands, and other
communications provided for by this Agreement shall be sufficient if in writing
and delivered in person or sent by registered or certified mail, postage
prepaid, to the Executive at the last address the Executive has filed in
writing with the Company, or to the Company at its main office, attention of
the Board of Directors.

 

14.           Effect on Other Plans.  Except as provided in Section 10 hereof,
nothing in this Agreement shall be construed to limit the rights of the
Executive under the Company’s benefit plans, programs or policies.

 

15.           Amendment.  This Agreement may be amended or modified
only by a written instrument signed by the Executive and by a duly authorized
representative of the Company.

 

16.           Governing Law.  This is a Massachusetts contract and shall be
construed under and be governed in all respects by the laws of the Commonwealth
of Massachusetts.

 

17.           Obligations of Successors.  In addition to any obligations imposed by law
upon any successor to the Company, the Company will use its commercially
reasonable efforts to require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of
the business or assets of the Company to expressly assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place.

 

 

6

 

 

IN WITNESS
WHEREOF, this Agreement has been executed as a sealed instrument by the Company
by their duly authorized officers and by the Executive, as of the date first
above written.

 

	
  :

  	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ANIKA THERAPEUTICS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles H.
  Sherwood

  
	
   

  	
   

  	
  Charles H. Sherwood, Ph.D.

  
	
   

  	
   

  	
  President and
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Carol A. Toth

  
	
   

  	
   

  	
  Carol A. Toth

  

 

 

7EXHIBIT 10.50

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

THIS AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES (“Agreement”) is
dated as of this 1st day of October, 2004 (the “Agreement Date”) by and between
VEF III Funding, LLC, a Delaware limited liability company (“Landlord”) and BroadVision, Inc., a Delaware corporation (“Tenant”).

 

RECITALS

 

A.                                    Landlord and Tenant
(as assignee of Interleaf, Inc., a Massachusetts corporation and a wholly-owned
subsidiary of Tenant (“Interleaf”)) are holders of the landlord’s and tenant’s
interests under that certain lease dated March 21, 2000, as amended by
Amendment of Lease dated as of April 26, 2000, by Second Amendment of
Lease dated as of November 14, 2000, and by Third Amendment of Lease dated
as of October 1, 2004 (collectively, the “Lease”),
for approximately 78,802 square feet in that certain building located at 400
Fifth Avenue, Waltham, Massachusetts (the “Building”).    Capitalized terms used in this Agreement
and not otherwise defined shall have the meanings assigned to them in the
Lease.  Pursuant to the Lease, Tenant has
delivered to the Landlord a security deposit in the amount of $334,829.25 (the “Lease Security Deposit”).

 

B.                                    Tenant subleased
approximately 25,233 square fee of space on the fourth and fifth floors of the
Building, access to and use of 17 racks in the computer room located on the
third floor of the Building (the “Computer Room”),
and access to the Boston Harbor Training Room comprised of approximately 1,335
square feet located on the first floor of the Building, and (collectively, the “Scansoft Subleased Premises”), pursuant to a Sublease dated January 23,
2002 as amended by letter agreement dated November 19, 2003 from Tenant to
Scansoft (collectively, the “Scansoft Sublease”)
between BroadVision and Scansoft, Inc., a Delaware corporation (“Scansoft”);  Pursuant
to the Scansoft Sublease, Scansoft delivered to Tenant a security deposit, in
the form of a letter of credit, in the amount of $277,563.00 (the “Scansoft Security Deposit”). 
A copy of the Scansoft Sublease is attached hereto as Appendix B.

 

C.                                    Tenant subleased
approximately 6,000 square feet of rentable space on the third floor of the
Building and the right to use three (3) racks in the Computer Room (the “Unveil Subleased Premises”), pursuant to a Sublease dated January 23,
2002 as amended by First Amendment to Sublease dated as of June 2, 2004
(collectively, the “Unveil Sublease”) between Tenant and Unveil Technologies,
Inc., a Delaware corporation (“Unveil”). 
Pursuant to the Unveil Sublease, Unveil delivered to Tenant a cash
security deposit in the amount of $9,000.00 (the “Unveil Security Deposit”).  A copy of the Unveil Sublease is attached
hereto as Appendix C.

 

D.                                    Tenant subleased
approximately 11,560 square fee of rentable space on the second  floor of the Building, (the “Bladelogic Subleased Premises”), pursuant to a Sublease
dated January 14, 2004, as amended by First Amendment to Sublease dated March 23,
2004 (the 

 

 

“Bladelogic Sublease”) between Tenant and Bladelogic, Inc., a
Delaware corporation (“Bladelogic”).  Pursuant to the Bladelogic Sublease,
Bladelogic delivered to Tenant a cash security deposit in the amount of
$22,302.62 (the “Bladelogic Security Deposit”).  A copy of the Bladelogic Sublease is attached
hereto as Appendix D.

 

E.                                      Scansoft, Unveil
and Bladelogic are collectively referred to herein as the “Subtenants”.  The Scansoft Sublease, the Unveil Sublease
and the Bladelogic Sublease are collectively referred to herein as the “Subleases”.  The
Scansoft Subleased Premises, the Unveil Subleased Premises and the BladeLogic
Subleased Premises are collectively referred to herein as the “Subleased Premises”. 
The Scansoft Security Deposit, the Unveil Security Deposit and the
Bladelogic Security Deposit are collectively referred to herein as the “Subtenants’  Security Deposits”.

 

F.                                      Landlord and
Tenant now desire to assign the Tenant’s interests, rights and obligations
under the Subleases to Ben II - VEF III, LLC, a Delaware corporation and an
affiliate of Landlord, according to the terms and conditions set forth herein,
to reduce the amount of square footage under the Lease that Tenant will lease
from Landlord, to terminate Tenant’s obligations under the Lease with respect
to all but the portion of the Building that the Tenant will continue to lease
under the Fourth Amendment (as hereinafter defined) (such terminated space
shall be referred to herein as the “Terminated Space”), for certain
considerations set forth herein.

 

G.                                    Tenant is
negotiating the private placement of convertible debentures with a group of
investors with gross sales proceeds to Tenant of at least Sixteen Million
Dollars ($16 million) (the “Securities Offering”).  The closing of Securities Offering is
conditioned on Tenant having entered into written agreements with landlords,
including the Landlord, of certain of its remaining excess facilities to
restructure or terminate the underlying leases and, if applicable,
subleases.  The date on which the
Securities Offering closes and Tenant receives the proceeds of the sale of the
debentures is referred to herein as the “Effective Date”.

 

NOW, THEREFORE, in consideration
of the foregoing and the promises made herein, Landlord and Tenant hereby agree
as follows:

 

AGREEMENT

 

1.  Recitals.  The foregoing Recitals are hereby
incorporated by this reference into this Agreement.

 

2.  Amendment of Lease.  On the “Closing Date” (as such term is
defined herein), so long as Tenant’s other obligations required to be performed
on or before the Closing Date are fulfilled hereunder, Landlord and Tenant will
enter into a Fourth Amendment of Lease in the form attached hereto as Appendix
A (the “Fourth Amendment”).

 

3.  Assignment and Assumption of Subleases.

 

A.                                    Subject
to the other provisions of this Agreement, as of October 1, 2004, Tenant
hereby assigns to Ben II - VEF III, LLC, and Ben II - VEF III, LLC assumes, all

 

2

 

of Tenant’s interests,
rights and obligations as tenant under the Lease with respect to the Subleased
Premises only and as sublandlord under each of the Subleases, but only to the
extent of obligations and liabilities that first accrue as of October 1,
2004.  On the Closing Date, subject to
the prior sentence, Ben II – VEF III, LLC and Tenant shall execute a partial
assignment and assumption of the Lease with respect to the Subleased Premises
to Ben II - VEF III, LLC and a full assignment and assumption of all of Tenant’s
interests, rights and obligations under the Subleases, including all payments
thereunder for rent, additional rent, electricity, computer rack usage and any
other amounts for the period beginning October 1, 2004 to date.  On or before the Closing Date, Tenant shall
obtain the consent of each of the Subtenants to such assignment and assumption,
together with estoppel statements regarding the absence of defaults by Tenant
under the Subleases, which statements shall be in the form attached hereto as Appendix
E.  In the event that any of such
statements are not delivered in the form attached hereto as Appendix E
(showing no untoward matters or defaults) on or before the Closing Date,
Landlord shall have the right to terminate this Agreement without recourse to
the parties.  Provided that Tenant
obtains such consent and estoppel statements from each Subtenant, as of October 1,
2004, Tenant and Interleaf shall be relieved of all duties, responsibilities,
liabilities and obligations under the Subleases except for obligations that had
accrued prior to the Agreement Date under the terms of this Agreement and
except for obligations with respect to the Operations Room and the items
located therein that are set forth in the Fourth Amendment.  On the Closing Date, Tenant and BroadVision
shall deliver the Unveil and Bladelogic Security Deposits to Landlord together
with any subrent or other rental obligations of the Subtenants for the months
of October 2004 and, if applicable, November, 2004 received before, on or
after the Agreement Date.  Tenant shall
also, at Tenant’s sole cost and expense, arrange for the transfer to Landlord
as of the Closing Date of the Letter of Credit that evidences the Scansoft
Security Deposit.

 

B.                                    Indemnity.  Landlord shall not be liable for, and Tenant
shall defend, indemnify and protect Landlord from any claim, demand, judgment,
award, fine, loss, damage, expense, charge or cost of any kind or character
(including actual attorney fees and court costs) by any of the Subtenants under
any of the Subleases that may have accrued with respect to periods prior to the
Agreement Date.

 

4.  Consideration.  In full and complete settlement of all rental
and operating expense obligations that would have accrued under the Lease from
and after October 1, 2004 for the Terminated Space (and not as payment for
any rental obligations for periods prior to October 1, 2004) under the
Lease and as consideration for the Landlord’s promises hereunder, Tenant shall
pay Landlord Two Million, Five-Hundred Seventy-Six Thousand, Eight-Hundred
Seventy Dollars ($2,576,870.00) (the “Settlement Amount”) in four equal
installments as follows:

 

	
  Installment Payment Due Date

  	
   

  	
  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Closing Date

  	
   

  	
  $

  	
  644,217.50

  	
   

  
	
  January 14, 2005

  	
   

  	
  $

  	
  644,217.50

  	
   

  
	
  April 15, 2005

  	
   

  	
  $

  	
  644,217.50

  	
   

  
	
  July 15, 2005

  	
   

  	
  $

  	
  644,217.50

  	
   

  

 

3

 

The first installment of the Settlement Amount shall be paid by
conversion of the Lease Security Deposit of $334,829.25 plus delivery on the
Closing Date of a certified or cashier’s check or wire transfer in the amount
of $309,388.25.  The second, third and
fourth installments of the Settlement Amount shall be paid by drawdown under a
commercial Letter of Credit (the “Letter of Credit”), issued on or before the
Closing Date, with the following terms:

 

A.                                   The
Letter of Credit shall be issued with the Landlord named as beneficiary in the
initial aggregate face amount of One Million Nine Hundred Two Thousand, Six
Hundred Fifty-Two and Fifty-One Hundredths Dollars ($1,932,652.50) and shall be
issued by Silicon Valley Bank.

 

B.                                     The
Letter of Credit shall be issued for a term of from the date of issuance
through October 15, 2005 and shall be in the form attached hereto as Exhibit
L/C.  The Letter of Credit shall be
transferable (and must permit multiple transfers), irrevocable and
unconditional, so that Landlord, or its successor(s) in interest, may at any
time draw on the Letter of Credit against sight drafts presented by Landlord,
accompanied by Landlord’s statement, made under penalty of perjury, that said
drawing is in accordance with the terms and conditions of this Agreement; no
other document or certification from Landlord shall be required to negotiate
the Letter of Credit and the Landlord may draw on any portion of the then
uncalled upon amount thereof without regard to and without the issuing bank inquiring
as to the right or lack of right of the holder of said Letter of Credit to
effect such draws or the existence or lack of existence of any defenses by
Tenant with respect thereto.  The Letter
of Credit shall not be mortgaged, assigned or encumbered in any manner
whatsoever by Tenant.

 

C.                                     Independent
Contract.  Tenant acknowledges and
agrees that the Letter of Credit constitutes a separate and independent
contract between Landlord and the issuing bank, that Tenant is not a third
party beneficiary of such contract, and that Landlord’s claim under the Letter
of Credit for the full amount due and owing thereunder shall not be, in any
way, restricted, limited, altered or impaired by virtue of any provision of the
Bankruptcy Code.

 

D.                                    Transfer
of the Letter of Credit.  The Letter
of Credit shall be transferable to any of the following parties: (i) any
secured or unsecured lender of Landlord, (ii) any assignee, successor,
transferee or other purchaser of all or any portion of the Premises, or any
interest in the Premises, (iii) any partner, shareholder, member or other
direct or indirect beneficial owner in Landlord.  Further, Landlord shall have the right to
assign or transfer the Letter of Credit to its grantee, assignee or transferee
of the Premises; and in the event of any sale, assignment or transfer, the
landlord so assigning or transferring the Letter of Credit shall have no
liability to Tenant for the return of the Letter of Credit, and Tenant shall
look solely to such grantee, assignee or transferee for such return, so long as
such grantee, assignee or transferee assumes in writing all of Landlord’s
obligations with respect to the Letter of Credit.  The terms of the Letter of Credit shall
permit multiple transfers of the Letter of Credit.  Tenant shall use its best efforts to
cooperate with Landlord and the bank to effect the transfer(s) of the Letter of
Credit and Tenant shall be responsible for all costs of the bank associated
therewith.

 

4

 

E.                                      Draws
on Letter of Credit.  Landlord may
draw against the Letter of Credit for each of the second through fourth
installments of the Settlement Amount on or after the installment’s related
installment payment due date as set forth above.  If for any reason the issuing bank under the
Letter of Credit fails or is unable to make payment to Landlord of the funds
sought to be drawn by Landlord, Tenant shall pay the same to Landlord in cash
within ten (10) days of Landlord’s demand therefore.

 

5.  Transfer of Title to Certain
Property.  Effective October 1,
2004, Tenant hereby transfers all of its respective right, title and interest
in and to all furniture, the telephone equipment (including the phones and the
phone switch located in the telecommunications room on the third floor of the
Building), the Security System, the Card Key Access System, the computer racks
in the third floor server room and the two units of universal power supply
equipment located in the server room on the third floor of the Building as
shown on Appendix I to the Fourth Amendment, which items are listed on Exhibit
Transferred Property attached hereto (the “Transferred Property”).  On or before the Closing Date, the parties
shall inventory the items on Exhibit Transferred Property and compare the same
to the items located on the Premises, and shall revise the same prior to the
Closing Date.  On the Closing Date,
Tenant shall execute a bill of sale for no additional consideration to Landlord
for all of the Transferred Property on such revised Exhibit Transferred
Property.  Such bill of sale will provide
that the Transferred Property is transferred “as is” and without any warranty
of any nature whatsoever, except as to title and freedom from
encumbrances.  On or before the Closing
Date, Tenant shall deliver to Landlord written releases/waivers (including any
documentation required to release any security interests in the Transferred
Property under the Uniform Commercial Code) from any parties who hold any
portion of the Transferred Property as collateral, or who hold a security
interest therein.  Transferred Property
does not include any other real estate fixtures, non-telephone equipment,
photocopiers, printers, records, media or other property contained in the Building,
including but not by way of limitation any computer equipment in the
Building.  Landlord acknowledges and
agrees that Scansoft has exclusive use one of the universal power supplies
included in the Transferred Property and that Scansoft will continue to have
exclusive use thereof during the term of the Scansoft Sublease assumed by
Landlord.  During the terms of the Lease
and the Subleases, Landlord will permit the use by Subtenants and Tenant of the
Transferred Property (other than Transferred Property not currently being used
by the Subtenants or Tenant as of the Agreement Date), including providing
power and heating, ventilation and air conditioning being provided as of the
Agreement Date.  Except for the Security
System and the Card Key Access System, Landlord shall not have any responsibility
for maintaining the Transferred Property used by Tenant and Subtenants during
the respective terms of the Lease and the Subleases.  Scansoft is responsible for maintaining the
universal power supply of which it has exclusive use.  Tenant is responsible for maintaining the
phone switch and the other universal power supply included as part of the
Transferred Property.  Landlord is
responsible for any and all sales, use, or similar tax due as a result of such
transfer and any and all personal property taxes, if any, attributable to the
furniture so transferred to the extent applicable to periods after September 30,
2004.

 

6.  Representations and
Warranties by Tenant and BroadVision.  Tenant hereby represents and warrants to
Landlord as of the Effective Date: (a) the representing party has the legal
power, right and authority to enter into this Agreement and the instruments
referenced herein that are to

 

5

 

be executed by the
representing party, and to consummate the transactions contemplated hereby; and
the individuals executing this Agreement and the instruments referenced herein
on behalf of the representing party has the legal power, right, and actual
authority to bind the representing party to the terms and conditions hereof and
thereof; (b) any and all required consents to or approvals for the representing
party executing this Agreement, whether required by the representing party’s
internal policies, by third parties or otherwise, have been obtained; (c) this
Agreement and the Lease, as modified by the Third Amendment and the Fourth
Amendment, are binding obligations of Tenant, enforceable in accordance with
their terms; and (d) there are no defaults by Tenant under any of the Subleases
and all rent and other amounts due under the Subleases through October 31,
2004 have been received by Tenant.

 

7.  Representations and
Warranties of Landlord. 
Landlord hereby represents and warrants to Tenant as of the Effective
Date:  (a) Landlord has the legal power,
right and authority to enter into this Agreement and the instruments referenced
herein that are required to be executed by Landlord, and to consummate the
transaction contemplated hereby and the individuals executing this Agreement
and the instruments referenced herein on behalf of Landlord have the legal
power, right and actual authority to bind Landlord to the terms and conditions
hereof and thereof; (b) any and all required consents or approvals to Landlord
executing this Agreement, whether required by Landlord’s internal policies, by
third parties or otherwise, have been obtained; and (c) this Agreement and the
Lease, as modified by the Third Amendment and the Fourth Amendment, are binding
obligations of Landlord, enforceable in accordance with their terms.

 

8.  Mutual Releases.   Each party hereby releases, discharges and
acquits the other party, and the other party’s members, partners, affiliates,
subsidiaries, officers, directors, agents, attorneys, employees, successors,
and assigns; from and of any and all debts, claims, liabilities, demands,
damages, actions and causes of action of any kind and of all kinds whatsoever,
whether known or unknown, suspected or unsuspected, that either party has or
could have had against the other as of the date hereof, arising out of or
relating in any way to the Lease and the occupancy or use of the Premises prior
to the Agreement Date, except for: (i) a party’s obligations to pay or to
refund or credit underpayments or overpayment, as the case may be, by Tenant of
Additional Rent after actual amounts of Additional Rent have been determined;
(ii) any indemnification obligations of Tenant under the Lease which are
covered by Tenant’s insurance; (iii) Tenant’s obligations and liabilities under
the Subleases that accrued prior to the Agreement Date; and (iv) any
obligations or liabilities with respect to space being retained by Tenant,
including as described in the Fourth Amendment. 
This limited release shall be governed by the laws of the State of
California.  It is understood by the
undersigned Landlord and Tenant that the facts with respect to which this
limited release is given may hereafter turn out to be other than or different
from the facts in that connection now known to it or believed by it to be true,
and that each of Landlord and Tenant therefore expressly assumes the risk of
the facts turning out to be different and agrees that the foregoing limited
release shall be in all respects effective and not subject to termination or
rescission as a result of such difference in facts.  This limited release shall bind all persons
or entities claiming any rights under or through Landlord or Tenant, whether as
stockholders or otherwise.

 

6

 

Waiver of 
California Civil Code § 1542.  Each party has read and understands the
contents of section 1542 of the Civil Code of the State of California,
and, to the extent of the releases provided herein, Tenant and Landlord each
hereby expressly waive that section and the benefits thereof.  Section 1542 reads as follows:

 

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.

 

	
  /s/ BSB

  	
   

  	
  /s/ WEM

  	
   

  
	
  Initials of Landlord

  	
  Initials of Tenant

  

 

9.  Condition Precedent to Effectiveness of
Agreement; Closing Date. 
Notwithstanding anything to the contrary contained herein, this
Agreement and the parties’ respective obligations hereunder are subject to the
closing of the Securities Offering. Tenant will provide Landlord with immediate
written notice when the Securities Offering has closed.  The date on which the Securities Offering
closes and Tenant receives the proceeds of the sale of the debentures is
referred to in this Agreement as the “Effective Date”.  If the Effective Date does not occur within
ten (10) working days after the date (the “Execution Date”) that both parties
execute and deliver this Agreement, then this Agreement shall automatically
terminate and be of no force or effect. 
Provided that the closing of the Securities Offering occurs and Tenant
receives the proceeds of the sale of the debentures within ten (10) working
days after the Execution Date, the Closing Date shall be the date which is five
(5) working days after the “Effective Date” occurs.

 

10.   Miscellaneous.

 

10.1                        Reimbursement
of Landlord’s Attorney’s Fees and for Estimated Costs To Construct Multi-Tenant
Floor Improvements on Second Floor. 
In addition to the amounts payable by Tenant to Landlord under Section 4
hereof, Tenant shall pay Landlord an amount, not to exceed Ten Thousand Dollars
($10,000.00), for reimbursement of the reasonable fees and expenses incurred by
Landlord’s legal counsel in connection with the preparation, review,
negotiation and modification of this Agreement Tenant will pay such amount to
Landlord on or before the Closing Date.

 

10.2                        Notices.  Unless otherwise expressly provided herein,
all notices or other communications required or permitted hereunder shall be in
writing, and shall be personally delivered (including by means of professional
messenger service) or sent by reputable overnight courier service or certified
mail, postage prepaid, return receipt requested, and shall be deemed received
upon the date of receipt thereof at the address set forth below the signature
of the appropriate party.  Notices of
change of address shall be given by written notice as described in this
subparagraph.

 

7

 

 

	
  If to Landlord:

  	
  VEF III Funding, LLC

  
	
   

  	
  c/o VEF Advisors, LLC

  
	
   

  	
  3340 Peachtree Rd, NE

  
	
   

  	
  Tower Place 100, Suite 1660

  
	
   

  	
  Atlanta, GA 30326-1000

  
	
   

  	
   

  
	
  with a copy to:

  	
  Kestrel Management, L.P.

  
	
   

  	
  7 Bulfinch Place, Suite 500

  
	
   

  	
  Boston, MA 02114-9507

  
	
   

  	
  Attn: Henry E. Wyner

  
	
   

  	
  and

  
	
   

  	
  Nutter, McClennen & Fish, LLP

  
	
   

  	
  155 Seaport Blvd.

  
	
   

  	
  Boston, MA 02210-2604

  
	
   

  	
  Attn: Timothy M. Smith, Esq.

  
	
   

  	
   

  
	
  If to Tenant:

  	
  BroadVision, Inc.

  
	
   

  	
  585 Broadway

  
	
   

  	
  Redwood City, California 94063

  
	
   

  	
  Attention: Chief Financial Officer

  
	
   

  	
   

  
	
  with a copy to:

  	
  BroadVision, Inc.

  
	
   

  	
  585 Broadway

  
	
   

  	
  Redwood City, California 94063

  
	
   

  	
  Attention: Legal Department

  

 

10.3 
Voluntary Agreement. 
The parties have read this Agreement, and on the advice of counsel they
have freely and voluntarily entered into this Agreement.

 

10.4 
Attorneys’ Fees. 
If either party commences an action against the other party arising out
of or in connection with this Agreement, the prevailing party shall be entitled
to recover from the losing party reasonable attorneys’ fees and costs of suit,
but not the fees paid by Tenant under Section 9.1.

 

10.5 
Successors. 
This Agreement shall be binding on and inure to the benefit of the
parties and their successors.

 

10.6 
Headings.  The
headings contained in this Agreement are for convenience of reference only,
shall not be deemed to be a part of this Agreement and shall not be referred to
in connection with the construction or interpretation of this Agreement.

 

10.7 
Counterparts. 
This Agreement may be signed in two or more counterparts.  When at least one such counterpart has been
signed by each party, this Agreement shall be deemed to

 

8

 

have been fully executed, each counterpart shall be deemed to be an
original, and all counterparts shall be deemed to be one and the same
agreement.

 

10.8                        Governing
Law.  Except to the extent provided
in Section 8 hereof, this Agreement shall be governed by the laws of the
Commonwealth of Massachusetts without regard to conflicts of laws principles.

 

10.9                        Entire
Agreement.  This Agreement (including
all Appendices attached hereto) is the final expression of, and contains the
entire agreement between, the parties with respect to the subject matter hereof
and supersedes all prior understandings with respect thereto.  This Agreement may not be modified, changed,
supplemented or terminated, nor may any obligations hereunder be waived, except
by written instrument signed by the parties. 
The parties do not intend to confer any benefit hereunder on any person,
firm or corporation other than the parties hereto.

 

10.10                 Bankruptcy.  In the event that any bankruptcy filings are
made against Tenant or any of its affiliates or by Tenant or any of its
affiliates on or after the Agreement Date, and the provisions of this Agreement
or the Third Amendment to Lease or the Fourth Amendment to Lease and/or the
making of any of the payments hereunder (or portions thereof) are rescinded as
a result thereof, Landlord shall have the right to reinstate the rescinded
portions of the Lease as if this Agreement, the Third Amendment To Lease and
the Fourth Amendment To Lease were never entered into upon: 1) written notice
to Tenant provided within thirty (30) days of receiving notice of such filing,
and 2) reimbursement to Tenant of all rescinded amounts paid under the
provisions of this Agreement.

 

9

 

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

 

	
  LANDLORD:

  	
  TENANT:

  
	
  VEF III Funding, LLC,

  a Delaware limited liability corporation

  	
  BroadVision, Inc.,

  a Delaware corporation

  
	
   

  	
   

  
	
  By:

  	
  /s/B. Stanton Breon

  	
   

  	
  By:

  	
  /s/William E. Meyer

  	
   

  
	
  Name:

  	
  B. Stanton Breon

  	
   

  	
  Name:

  	
  William E. Meyer

  	
   

  
	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Chief Financial Officer

  	
   

  
										

 

10

 

APPENDIX A TO

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

 

FOURTH AMENDMENT TO LEASE

 

 

FOURTH AMENDMENT TO LEASE

 

THIS FOURTH AMENDMENT OF
LEASE (the “Fourth Amendment”) dated as of October 1, 2004 (the “Fourth
Amendment Date”), is made between VEF III FUNDING, LLC, a Delaware limited
liability company having an office c/o VEF Advisors, LLC, Tower Place 100,
Suite 1600, 3340 Peachtree Rd., N.E., Atlanta, GA 30326-1000 (“Landlord”), and
BROADVISION, INC., a Delaware corporation, having its principal executive
office at 585 Broadway, Redwood City, CA 94063 (“Tenant”).

 

BACKGROUND

 

A.  Landlord and Tenant (as successor to
Interleaf, Inc., a Delaware corporation and a wholly-owned subsidiary of Tenant
(“Interleaf”)) are holders of the landlord’s and tenant’s interests,
respectively, under a Lease dated March 21, 2000 as amended by Amendment
of Lease dated as of April 26, 2000, by Second Amendment of Lease dated as
of November 14, 2000, and by Third Amendment of Lease dated as of October 1,
2004 (collectively, the “Lease”), covering certain space in the Building
located at 400 Fifth Avenue, Waltham, MA (the “Premises”).

 

B.  The parties
desire to further amend the Lease to reduce the space leased thereunder, the
rental rate thereunder and to reduce Tenant’s obligations thereunder to reflect
the reduced space and rent.

 

C.  This Fourth
Amendment is being delivered concurrently with the execution and delivery of
that certain Agreement to Restructure Lease and to Assign Subleases between the
parties (the “Restructure Agreement”). 
Pursuant to that Restructure Agreement, Tenant is assigning to Ben II -
VEF III LLC, a Delaware corporation and an affiliate of Landlord (“Ben II — VEF
III, LLC”), and Ben II - VEF III, LLC is assuming Tenant’s rights, title,
interest and obligations under three Subleases (as defined in the Restructure
Agreement).

 

D.  All
capitalized terms used herein shall, unless ascribed a different meaning
herein, have the same respective meanings ascribed to them in the Lease.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereby agree as follows:

 

1.  Effective October 1,
2004, the portions of Section 1.1 of the Lease named “Premises Square
Footage”, “Annual Rent”, “Tenant’s Estimated Electrical Charge”, Tenant’s
Proportionate Fraction”, and “Security Deposit” are modified to read as
follows:

 

	
  Premises Square Footage:

  	
  For the First Revised Term: 7,611 rentable square
  feet on the third floor (the “Main Premises”) plus the “Operations Rooms” (as
  defined herein), all as shown on Appendix 1 to the Fourth Amendment.

  

 

 

	
   

  	
  For the Second Revised Term: 5,768 rentable square
  feet on the third floor (the “Reduced Main Premises”) plus the “Operations
  Rooms”, all as shown on Appendix 1 to the Fourth Amendment.

  	 

	
   

  	
   

  	 

	
  Annual Rent:

  	
  For the First Revised Term:

  	
  $152,220 per annum

  	 

	
   

  	
   

  	
  ($12,685 per month)

  
	
   

  	
   

  	 

	
   

  	
  For the Second Revised Term:

  	
  $115,360 per annum

  	 

	
   

  	
   

  	
  ($9,613 per month)

  	 

	
   

  	
   

  	 

	
  Tenant’s Estimated Electrical Charge:

  	
  $1.25 per rentable square foot of the Main Premises
  per annum for the First Revised Term and $1.25 per rentable square foot of
  Reduced Main Premises per annum for the Second Revised Term.

  	 

	
   

  	
   

  	 

	
  Tenant’s Proportionate Fraction:

  	
  For the First Revised Term: 6.6454%

  	 

	
   

  	
  For the Second Revised Term: 5.0362%

  	 

	
   

  	
   

  	 

	
  Security Deposit:

  	
  $28,840.

  	 

					

 

In addition, the follow
sections of the Lease are hereby deleted: Sections 2.2, 2.3, 2.4 and 2.5 and
the last paragraph of Section 12.9.

 

As used herein, the term “First
Revised Term” means the period commencing on October 1, 2004 and ending December 31,
2004 and the term “Second Revised Term” means the period commencing January 1,
2005 and ending September 30, 2006.

 

2.  Except as provided herein, Tenant shall
continue to have use of the “Transferred Property” (defined herein) being used
by it as of the Fourth Amendment Date, including access to and use of the
computer (server), telecommunications (phone) and network rooms (as shown on
Exhibit 1 hereto) (collectively, the “Operations Rooms”) and the equipment
located therein during the term of the Lease for the purpose of operating its
computer network, phone system and servers. 
Pursuant to the Restructure Agreement, Tenant has transferred to
Landlord the “Transferred Property” (as such term is defined in the Restructure
Agreement) including certain equipment and fixtures contained in the Operations
Rooms.  With respect to the use of the
computer/server room, Tenant shall have a license to use the 25 racks it is
currently using through the end of the First Revised Term and up to five (5)
racks during the Second Revised Term. At least ten (10) days before the
beginning of the Second Revised Term, Tenant will notify Landlord of the actual
number of racks it will use starting January 1, 2005.  Effective at the beginning of any month
thereafter (i.e., after January 2005), Tenant may modify the number of
racks it will use in that month by giving Landlord written notice thereof at
least ten days before the beginning of such month.  Tenant uses the Card Key Access System that
is part of the Transferred Property for Tenant’s facility in McLean, Virginia
and Landlord will permit Tenant to continue such use through the end of the
First Revised Term.  In consideration of
Tenant’s use of the racks in the computer/server room, Tenant will pay Landlord
$300.00 per

 

 

month per rack
used by Tenant on or before the first day of each month during the First
Revised Term and the Second Revised Term.

 

3.  Notwithstanding any terms or provisions of
the Lease (as amended) to the contrary, Tenant shall have the sole and
exclusive liability and responsibility, at its sole cost and expense, for the
maintenance, cleaning, and repair of the Operations Rooms, and for the
operation, functionality, maintenance, repair, replacement and upkeep of its
own computer network, servers and equipment and other items of its equipment
located in the Operations Rooms. 
Further, during the term of the Lease (as amended), Tenant shall have
the sole and exclusive liability and responsibility for the operation,
functionality, maintenance, repair, replacement and upkeep of the phone system
and the uninterruptible power system, both of which are currently being
utilized by Tenant and other tenants of the building.  Landlord shall be solely liable and
responsible for the maintenance, repair and operation of the HVAC systems that
serve, and for the delivery of HVAC services for, the Operations Rooms on a 24
hour-7 day basis, and Landlord shall provide electricity service to the
Operations Rooms.  Tenant shall indemnify
and hold harmless Landlord from and against any and all loss, cost, liabilities
and expenses, including reasonable attorneys’ fees, incurred by Landlord
and/or, claimed by any of such subtenants and/or Tenant with respect to its
continuing obligations associated with the Operations Rooms as included in this
Fourth Amendment.

 

4.  Notwithstanding any terms or provisions of
the Lease (as amended) to the contrary, Tenant hereby consents to the entry by
Landlord onto any portion of the Main Premises, the Reduced Main Premises or
the Operations Rooms for the purposes of installing and constructing any
necessary tenant improvements that are required, in Landlord’s sole discretion,
to cause the third floor of the Building to become a multi-tenant floor
including, without limitation, the construction of any necessary demising
walls, common corridors, utility lines, sprinkler or other mechanical systems,
lighting, security systems and any necessary wiring or cabling associated
therewith, and Tenant agrees that the construction of any such improvements
shall not require that Landlord provide any rent abatement or credit to Tenant
as a result of any loss of use of any square footage of the Main Premises, the
Reduced Main Premises or the Operations Rooms resulting from such improvements.

 

5.  To the extent provisions of the Lease contain
obligations or rights of the Tenant that relate to or are made with reference
to the square footage of the premises leased under the Lease or the rent
payable by Tenant, then for periods from and after October 1, 2004, the
square footage leased and the rent payable by Tenant shall be as modified by
this Fourth Amendment.

 

6.  Tenant hereby surrenders all of its prior
rights to any other space in the Premises other than the portion of the
Premises shown in Exhibit 1 hereto (which non-surrendered portion includes the
Operations Rooms), and the Lease with respect to such surrendered space shall
be deemed to be terminated with respect to Tenant but shall be not be deemed
terminated for purposes of the Subleases (as defined in the Restructure
Agreement) assumed by VEF III LLC pursuant to the Restructure Agreement and the
space subleased under the Subleases. 
Within thirty (30) days after the Fourth Amendment Date, the Tenant
shall deliver all of the Premises other than the portions of the Premises being
leased by Tenant by virtue of

 

 

this Fourth
Amendment and subleased pursuant to such Subleases in broom clean condition,
but with the Transferred Property (as defined in the Restructure Agreement) in
place.  In addition, within thirty (30)
days after the Fourth Amendment Date, Tenant will, at its own expense, remove
the signage on the facade of the Building in accordance with the provisions of
the Lease.  If Tenant does not fulfill
its obligations under this Section 4, Landlord shall have the right, but
not the obligation, to perform such work and present to Tenant a valid
invoice(s) for the actual costs incurred, plus an administrative fee of ten
percent (10%) of the costs incurred. 
Tenant shall pay such valid invoice within ten (10) days of Tenant’s
receipt.

 

7.  Landlord shall have no responsibility to
Tenant or Unveil Technologies, Inc. to construct any demising partitions,
hallways, doorways, access/egress passageways or other improvements on the
third floor of the Building to cause the same to be a multi-tenant floor, and
Landlord shall have no obligations to maintain, repair, replace or secure the
areas shared by Unveil Technologies, Inc. and Tenant on the third floor of the
Building.  Tenant shall indemnify and
hold Landlord and VEF III LLC harmless from and against any and all damages,
costs, liabilities, expenses (including reasonable attorneys’ fees) incurred by
Landlord and/or VEF III LLC or by any third parties (including Unveil
Technologies, Inc. or any of the employees, agents, or contractors of Unveil
Technologies, Inc.), including damage to property or harm to persons, arising
out of (a) the absence of any demising partitions or common corridors or other
multi-tenant floor improvements on the third floor of the Building or (b) the
common usage by Unveil Technologies, Inc. and Tenant of certain portions of the
third floor of the Building for access/egress and restroom facilities.  Such indemnity and hold harmless agreement
shall include any claims made by Unveil Technologies, Inc. or Tenant or any of
the employees, agents or contractors of Unveil Technologies, Inc. or Tenant and
any claims or assertions made by any governmental officials.

 

8.  Except as
modified hereby, the lease remains unchanged and in full force and effect.

 

IN WITNESS WHEREOF, the parties have caused this
Fourth Amendment to be signed by their respective duly authorized officers as
of the date first above written.

 

	
  LANDLORD:

  	
  TENANT:

  
	
  VEF III Funding, LLC,

  	
  BroadVision, Inc.,

  
	
  a Delaware limited liability corporation

  	
  a Delaware corporation

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   William E. Meyer

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
    Chief Financial Officer

  	
   

  
										

 

 

APPENDIX 1

TO FOURTH AMENDMENT TO LEASE

 

Revised Premises Floor Plan Showing

“Main Premises,” “Reduced Main
Premises” and “Operations Rooms”

 

In the attached floor
plan, the Main Premises are comprised of the diagonally hashed areas labeled A
and B, the Reduced Main Premises is the diagonally hashed area labeled B, and
the Operations Rooms are the horizontally hashed area labeled “Operations Room.

 

 

APPENDIX B TO

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

 

SCANSOFT SUBLEASE

 

 

APPENDIX C TO

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

UNVEIL SUBLEASE

 

 

APPENDIX D TO

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

BLADELOGIC SUBLEASE

 

 

APPENDIX E TO

 

AGREEMENT TO RESTRUCTURE LEASE AND TO ASSIGN
SUBLEASES

 

FORMS OF ESTOPPEL STATEMENT

 

 

EXHIBIT TRANSFERRED PROPERTY

 

 

EXHIBIT L/C

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