Document:

Exhibit
10.1

Candela Corporation

Amendment No. 1 to Second Amended and Restated 1998 Stock Plan

Candela
Corporation’s Second Amended and Restated 1998 Stock Plan (the “1998 Stock Plan”)
is hereby amended as follows:

1.                                       The
second sentence of Section 4 of the 1998 Stock Plan is amended and restated in
its entirety as follows:

“The aggregate
number of shares which may be issued pursuant to the Plan is 7,800,000, subject
to adjustment as provided in paragraph 13.”

2.                                       Except
as modified hereby, the 1998 Stock Plan shall remain in full force and effect.

3.                                       This
amendment may be memorialized as a separate amendment to the 1998 Stock Plan or
included in an amended and restated 1998 Stock Plan.Exhibit
10.1

OFFER OF
EMPLOYMENT

January 29, 2007

Dear
Rene:

On
behalf of ARTISTdirect, Inc., a Delaware corporation (the “Company”), I
am  pleased to confirm your offer of
employment with the Company in the capacity of Corporate Controller and
Principal Accounting Officer, which is an exempt position.  You will report directly to the Company’s
President and Chief Executive Officer and to the Chief Financial Officer.

Your
initial compensation will be at the rate of $130,000.00 per year or $10,833.33
per month.  You will be paid according to
the Company’s normal semi-monthly pay cycle, and your compensation will be
subject to applicable payroll deductions. 
Your salary will be reviewed again no later than the end of 2007.

You
will also be potentially eligible for the following:

Discretionary Bonus.  You will be eligible to receive a
discretionary bonus following your first employment review, which as set forth
below, shall be completed on or around April 30, 2007 (“Interim Bonus”).  If any such Interim Bonus is awarded, it will
be paid by May 31, 2007.  You will also
be eligible to receive a discretionary bonus at the end of the Company’s
current fiscal year (e.g., 2007), which runs from January 1 through December 31
(“Annual Bonus” and together with Interim Bonus, “Discretionary Bonus”).  If any such Annual Bonus is awarded, it will
be paid by April 30, 2008.  In order to be eligible to receive any
potential Annual Bonus, it is a condition precedent that you be continuously
employed by the Company through December 31, 2007. All such Discretionary Bonus
payments will be subject to applicable payroll deductions.  Whether any Discretionary Bonus amounts will
be paid pursuant to this paragraph, and the amount of any bonus, will be
determined at the sole discretion of the senior management of the Company,
subject to final approval by the Compensation Committee of the Company’s Board
of Directors (the “Committee”).

Stock Options.  You will be eligible to receive stock options to purchase
up to 50,000 shares of common stock during the Company’s current fiscal year
(e.g., 2007), subject to the following conditions:  (i) the per share exercise price will be
based on the closing market price of the Company’s common stock on the date of
grant; (ii) standard vesting provisions; and (iii) the final approval of the
Committee.  If you continue to be
employed by the Company in fiscal 2008, you will be eligible to receive
additional stock options, at the sole discretion of the senior management of
the Company, subject to final approval by the Committee.  Your eligibility for stock options will be
subject to the terms, conditions, and limitations of the Company’s 2006 Equity
Incentive Plan (the “2006 Plan”). 
If you would like to review the terms of the 2006 Plan, please contact
Karen Feder at karen.feder@artistdirect.com or at 310.956.3307.

Vacation.  You
will be eligible to accrue vacation at the rate of three weeks per year,
beginning on your first day of work for the Company, which vacation accrual
shall not exceed a total of six weeks at any fiscal year end.  Any excess vacation accrual at any fiscal
year end will be automatically waived, without compensation.

 1
 

Benefits.  You
will also be eligible to participate in the Company’s medical, dental, vision,
401(k), and other employee benefit plans, subject to the terms, conditions,
limitations, and exclusions contained in the applicable plan documents and
insurance policies.  Further information
regarding the plans and policies is available from the Human Resources
Department.

Perquisites.  The
Company will reimburse you for reasonable, pre-approved expenses related to
annual continuing education requirements and/or library or other publication
costs, as they relate to your responsibilities with the Company, subject to
appropriate documentation provided by you.

Employment At-Will.  Employment with the Company is at the
mutual consent of each employee and the Company.  Accordingly, while
the Company has every hope that employment relationships will be mutually
beneficial and rewarding, employees and the Company retain the right to
terminate the employment relationship at will, at any time, with or without
cause or advance notice.  Please note
that the at-will nature of the employment relationship can only be altered
pursuant to a written agreement that is signed by a duly authorized corporate
officer and by you, and is approved by the Committee.  Accordingly, this constitutes a final and
fully binding, integrated agreement with respect to the at-will nature of the
employment relationship.

Review and Evaluation.  We expect that you will receive an
employment review and evaluation conducted by the Company’s Chief Financial
Officer on or around April 30, 2007.  You
may receive an additional review and evaluation every subsequent fiscal year if
you continue to be employed by the Company.

If
you have any questions, please feel free to contact me.  In the meantime, we request that you
acknowledge receipt of this offer by signing the enclosed copy of this
correspondence and returning it to me for our files.  This offer will remain open until February 9,
2007.

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  /s/ Robert N.
  Weingarten

  	
   

  
	
   

  	
  Robert N.
  Weingarten

  
	
   

  	
  Chief Financial
  Officer

  

 

This will acknowledge my acceptance of this offer
of employment.

	
  By

  	
    /s/ Rene Rousselet

  	
   

  
	
   

  	
  (Rene Rousselet)

  
	
   

  	
   

  
	
  Date:

  	
    February 2, 2007

  	
   

  

 

 2Exhibit
10.1

EMPLOYMENT
AGREEMENT

THIS
EMPLOYMENT AGREEMENT (the “Agreement”) is made as of February 1,
2007 by and between Global GP LLC, a Delaware limited liability company (the “Company”),
and Edward J. Faneuil (the “Executive”).

WHEREAS, the
Company and the Executive have agreed that the Executive will be employed as
the Company’s Executive Vice President and General Counsel; and

WHEREAS, the
Company and the Executive mutually desire to formalize the employment
arrangement of the Executive and to agree upon the terms of the Executive’s
employment by the Company and, in addition, to agree as to certain benefits of
said employment; and

NOW,
THEREFORE, for and in consideration of the mutual promises, covenants and
obligations contained herein, the Company and the Executive hereby agree as
follows:

1.             Employment and Term of
Employment.  Effective as of July 1, 2006 (the “Effective Date”)
and continuing for the period of time set forth herein, the Executive’s
employment by the Company shall be subject to the terms and conditions of this
Agreement.  Unless sooner terminated pursuant to other provisions herein,
the Company agrees to employ the Executive for the period beginning on the
Effective Date and ending on December 31, 2008 (the “Initial Term”).
In the event that the Company and the Executive renew this Agreement for one or
more additional periods, each of the Initial Term and any renewal periods shall
be referred to as the “Term.”

2.             Position and Duties. 
During the Term, the Company shall employ the Executive as the Executive Vice
President and General Counsel of the Company, or in such other positions as the
parties mutually agree.  The Executive shall have such powers and duties
and responsibilities as are customary to such position and as are assigned to
the Executive by the Board of Directors or the Chief Executive Officer and
President of the Company in connection with the Executive’s service as chief
legal officer of the Company.  The
Executive’s employment shall also be subject to the policies maintained and
established by the Company that are of general applicability to the Company’s
employees, as such policies may be amended from time to time.

3.             Other Interests. 
During the Term, the Executive shall devote such of his working time,
attention, energies and business efforts to his duties and responsibilities as
the Executive Vice President and General Counsel of the Company as are
reasonably necessary to carry out the duties and responsibilities generally
pertaining to that office.  During the Term, the Company and the Executive
agree that with the prior approval of the Board of Directors of the Company
(the “Board”), the Executive may engage in other business activities that do
not conflict with the business and affairs of the Company or interfere with the
Executive’s performance of his duties and responsibilities hereunder.

 

4.             Duty of Loyalty; Indemnification.

(a)           The Executive acknowledges and agrees
that the Executive owes a fiduciary duty of loyalty to act at all times in the
best interests of the Company.  In keeping with such duty, the Executive
shall make full disclosure to the Company of all business opportunities that
come to his attention pertaining to the business of the Company or any of its
subsidiaries and shall not act upon or appropriate for the Executive’s own
benefit business opportunities concerning the business of the Company or any of
its subsidiaries without the express written 
permission of the Board.

(b)           The Company shall indemnify the
Executive to the extent permitted by the Company’s first amended and restated
limited liability company agreement, as may be amended from time to time, and
by applicable law, against all reasonable costs, charges and expenses,
including, without limitation, reasonable attorneys’ fees, incurred or
sustained by the Executive in connection with any action, suit or proceeding to
which the Executive may be made a party by reason of being an officer, director
or employee of the Company or its affiliates. 
In connection with the foregoing, the Executive will be covered under
any liability insurance policies that protect other officers of the Company or
its affiliates, subject to the terms and conditions of such policies.

5.             Place of Performance. 
Subject to such business travel from time to time as may be reasonably required
in the discharge of his duties and responsibilities as the Executive Vice
President and General Counsel of the Company, the Executive shall perform his
obligations hereunder in, or within forty (40) miles of, Waltham,
Massachusetts.

6.             Compensation.

(a)           Base Salary.  During the
Term, the Executive shall be entitled to a base salary as described in this
paragraph 6(a).  The Executive shall receive a base salary for the twelve
(12) month period commencing on the Effective Date (the “Initial Period”)
of Three Hundred Fifty-Eight Thousand Fifty and 00/100 ($358,050.00) Dollars.
Thereafter, the Executive’s base salary will be reviewed by the Compensation
Committee of the Board (the “Compensation Committee”) from time to time,
but no less frequently than annually, at which time the Executive’s base salary
may be adjusted in the discretion of the Compensation Committee.  The Executive’s base salary, as established
in accordance with this paragraph 6(a), is hereafter referred to as “Base
Salary”.  The Base Salary shall be paid in equal installments pursuant
to the Company’s customary payroll policies and procedures in force at the time
of payment.

(i)            Bonus.  
During the Term, the Executive shall be entitled to receive
discretionary bonuses as may be authorized by the Compensation Committee.

(ii)           All bonuses hereunder, if any, shall be paid to the
Executive no later than March 15 of the calendar year immediately
following the calendar year in which such bonuses are earned.

(iii)          Long-Term Incentive Plan/Secondary Bonus Arrangement.  As of the date hereof, the Company has not
implemented a long-term incentive plan 

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as otherwise preliminarily described in Global
Partners LP’s prospectus for its initial public offering (the “LTIP”).  If and when the LTIP is implemented, the
Executive will be eligible to participate in the LTIP on the same general basis
as the other executive officers of the Company, but the terms and the economic
level of the Executive’s participation shall be determined by the Compensation
Committee, in its discretion.

(b)           Expenses.  During the
Term, the Company shall pay or reimburse the Executive for all reasonable
expenses incurred by the Executive on business trips, and for all other
business and entertainment expenses reasonably incurred or paid by him during
the Term in the performance of his services under this Agreement, in accordance
with past practice and with the Company’s expense reimbursement policy as in
effect from time to time upon 
presentation of expense statements or vouchers or such other supporting
documentation as the Company may reasonably require.

(c)           Fringe and Employee Benefits. 
During the Term, the Executive shall be entitled to participate in the Company’s
health insurance, pension, 401(k) and other employee benefit plans (as such
plans may be amended by the Company from time to time in its discretion,
subject to any applicable laws, rules, and regulations and the terms of such
plans) in accordance with the terms of such plans and the Company’s policies
and on the same general basis as other employees of the Company.  During
the Term, the Company will also provide the Executive with additional fringe
benefits consistent with benefits provided to the Executive under prior
arrangements and in accordance with past practice, with those benefits listed
on attached Exhibit “A”, and with such other benefits as may be approved by the
Compensation Committee of the Board of Directors of the Company. Nothing in
this Agreement shall be construed as limiting the ability of the Company to
amend or terminate any employee benefit plan or Company policy.

(d)            Vacation.  During the
Term, the Executive shall be eligible for four (4) weeks of paid vacation
each calendar year in accordance with the normal vacation policy or plan of the
Company.

7.             Termination.

(a)           Definitions.  For purposes of this Agreement, a “Change
in Control” shall occur on the date that any one person, entity or group
(other than Alfred Slifka, Richard Slifka or Eric Slifka, or their respective
family members or entities they control, individually or in the aggregate,
directly or indirectly (collectively referred to hereinafter as the “Slifkas”))
acquires ownership of the membership interests of the Company that, together
with the membership interests of the Company already held by such person,
entity or group, constitutes more than 50% of the total voting power of the
membership interests of the Company; provided, however, if any one person,
entity or group is considered to own more than 50% of the total voting power of
the membership interests of the Company, the acquisition of additional
membership interests by the same person, entity or group shall not be deemed to
be a Change in Control.  The definition
of “Change in Control” shall be interpreted, to the extent applicable, to
comply with Section 409A of the Internal Revenue Code of 1986 (the “Code”),
and the provisions of Treasury Notice 2005-1, Proposed Treasury Regulation
Section 1.409A and any successor statute, regulation and guidance thereto;
provided, however, an interpretation in compliance with Section 

 3
 

409A of the Code shall not expand the definition of
Change in Control in any way or cause an acquisition by the Slifkas to result
in a Change in Control.  For purposes of
this Agreement, “Constructive Termination” shall mean termination of the
Executive’s employment by the Executive as a result of (i) a breach by the
Company of a material provision of this Agreement, which breach is not cured
within thirty (30) days of the Company’s receipt of notice of such breach from
the Executive, (ii) the failure of any successor (whether direct or indirect,
by purchase, merger or otherwise) to all or substantially all of the business
and/or assets of the Company to expressly assume and agree to perform this
Agreement in accordance with the terms of paragraph 14 hereof, which failure is
not cured within thirty (30) days of the Company’s receipt of notice of such
failure from the Executive, or (iii) any material diminution, without the
Executive’s written consent, in the Executive’s working conditions consisting
of (A) a material reduction in the Executive’s duties and responsibilities as
Executive Vice-President and General Counsel of the Company, (B) any change in
the reporting structure so that the Executive no longer reports to the
President or Chief Executive Officer of the Company, or (C) a relocation of the
Executive’s place of work further than forty (40) miles from Waltham,
Massachusetts.  For purposes of
clarification, Constructive Termination shall not include a change in reporting
structure as a result of the Company becoming a subsidiary of an unrelated
entity, including, without limitation, a change whereby the Executive is not
the chief legal officer or general counsel of the acquiring or parent entity or
must report to the chief legal officer or general counsel of a currently
unaffiliated parent corporation or entity. 
For purposes of this Agreement, a “Notice of Termination” shall
mean a notice which shall (I) state the effective date of such termination, (II)
indicate the specific termination provision in this Agreement relied upon, and
(III) set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive’s employment under the
provision so indicated.

(b)           Death and Disability.  The Executive’s employment hereunder shall
terminate automatically upon his death. 
The Company, in its discretion, may terminate the Executive’s employment
hereunder due to the Executive’s Disability. 
For purposes of the Agreement, “Disability” shall mean a physical
or mental disability or impairment which renders the Executive unable, with or
without reasonable accommodation, to perform the essential functions of the
Executive’s duties to the Company for a period of at least ninety (90)
consecutive days and, following the expiration of the initial 90-day period,
the Company has received the opinion of a medical doctor or other appropriate
health care provider, in either case selected solely by the Company, that such
physical or mental disability or impairment is expected to continue for at
least an additional ninety (90) consecutive days.

(c)           Termination by the Company for
Cause.  The Company may terminate the Executive’s employment hereunder
for Cause following (i) reasonable notice to the Executive setting forth
in detail the nature of such Cause and the date and time established for a
hearing before the Board of Directors of the Company, (ii) an opportunity
to be heard before the Board of Directors of the Company at the conclusion of
such notice period, at which the Executive shall be entitled to representation
by counsel and (iii) a determination by a majority vote of the Board that the
Company has Cause to terminate Executive’s employment.   For the purposes
of this Agreement, “Cause” shall mean the Executive (i) has engaged
in gross negligence or willful misconduct in the performance of his duties,
(ii) has committed an act of fraud, embezzlement or willful breach of a
fiduciary duty to the Company or any of its subsidiaries (including the
unauthorized disclosure of any material secret, confidential and/or proprietary
information, 

 4
 

knowledge or data of the Company or any of its
subsidiaries); (iii) has been convicted of (or pleaded no contest to) a
crime involving fraud, dishonesty or moral turpitude or any felony or
(iv) has breached any material provision of this Agreement, which breach
is not cured within thirty (30) days of Executive’s receipt of written notice
of such breach; provided, however, there shall be no opportunity to cure a
breach of either Section 11 or 12 of this Agreement.

(d)           Termination by the Company Without
Cause.  The Company may immediately terminate the Executive’s
employment hereunder without Cause, by giving a sixty (60)-day Notice of
Termination to the Executive.

(e)           Termination by the Executive. 
The Executive may terminate his employment hereunder at any time for any reason
whatsoever, in the sole discretion of the Executive, by giving a sixty (60)-day
Notice of Termination to the Company.

(f)            Constructive Termination; Breach
by the Company.  Notwithstanding any other provision hereof, the
Executive may terminate his employment hereunder for Constructive Termination
if the Executive gives Notice of Termination, and the Company does not take the
actions necessary to eliminate the circumstances constituting the basis for
Constructive Termination within thirty (30) days after receipt of such Notice
of Termination.

(g)           Deemed Resignation.  If
the Executive’s employment is terminated for any reason, then such termination
shall constitute an automatic resignation of the Executive as an officer of the
Company and each affiliate of the Company, and, if applicable, an automatic
resignation of the Executive from the Board of Directors of the Company and
from the board of directors of any affiliate of the Company and from the board
of directors or similar governing body of any corporation, limited liability
company or other entity in which the Company or any of its affiliates holds an
equity interest and with respect to which board or similar governing body the
Executive serves as the Company’s or such affiliate’s designee or other
representative.

(h)           Return of Company Property.
All documents, records and files, in any media of whatever kind and
description, relating to the business, present or otherwise, of the Company or
any of its affiliates, whether or not prepared by the Executive, and any
copies, in whole or in part thereof, and other Company property, including
without limitation, computers, cell phones, other electronic devices, discs and
customer lists (the “Property”) shall be the exclusive property of the Company.
Executive agrees to safeguard all Property and to surrender to the Company upon
termination of his employment or at such earlier time or times as the Company’s
Chief Executive Officer or his designee may specify, all Property then in his
possession or control.

8.             Compensation Upon Termination.  Upon termination of the Executive’s
employment for any reason, the Executive shall receive payment of (i) the
Executive’s Base Salary, as then in effect, through the date of termination of
employment (the “Date of Termination”), (ii) all the Executive’s earned,
but unpaid, bonuses, and (iii) all accrued vacation, expense reimbursements and
any other benefits (other than severance benefits, except as provided below)
due to the Executive through the Date of Termination in accordance with
established Company plans and policies or applicable law (the “Accrued
Obligations”).  In addition, the
following shall apply:

 5
 

 

(a)           Termination for Cause; Voluntary
Termination; Termination Due to Death. 
If the Executive’s employment is terminated by the Company for Cause, by
the Executive voluntarily (for reasons other than Constructive Termination), or
by reason of the Executive’s death, then the Executive (or his estate, if
applicable) will receive payment of the Accrued Obligations, but Executive
shall not be entitled to any other compensation or benefits from the Company,
except to the extent provided under any Company benefit and/or compensation
plan or as may be required by law.

(b)           Termination by the Company Without
Cause; Constructive Termination.  If
the Executive’s employment is terminated by the Company without Cause or by the
Executive for Constructive Termination, then the Company shall pay to the
Executive an amount equal to the Base Salary as in effect on the Date of
Termination, multiplied by two (2) (the “Severance Amount”).  The Executive shall be paid the Severance
Amount in twenty-four (24) equal monthly installments commencing on the first
day of the month following the Date of Termination. In addition, the Company
shall provide health care continuation coverage benefits to the Executive
pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)
and shall continue to pay the applicable percentage of the medical insurance
premium the Company pays for active employees towards Executive’s COBRA
coverage during the Executive’s applicable COBRA coverage period not to exceed
a maximum of eighteen (18) months following the Date of Termination.  The Company’s obligation to provide COBRA
benefits to the Executive shall be subject to the Executive making an effective
election in accordance with COBRA. Notwithstanding the foregoing, in no event
may the Executive terminate his employment for Constructive Termination
pursuant to circumstances described in paragraph 7(a)(iii) until after a Change
in Control occurs.  In exchange for and
as a requirement to receive the compensation set forth in this Section 8(b) of
this Agreement, the Executive and Company (and its affiliates) shall negotiate,
in good faith, and enter into a general release of claims accrued as of the
date thereof in favor of the Company and its affiliates.  The form and scope of such release shall be
acceptable to the Company and its affiliates, the approval of which shall not
be unreasonably withheld by the Company and its affiliates.

(c)           Delay in Payments.  Notwithstanding any other provision with
respect to the timing of payments under paragraph 8(b) or other payments
subject to Section 409A(a)(2)(B) of the Code, if, at the time of the Executive’s
termination, the Executive is deemed to be a “specified employee” (within the
meaning of Section 409A of the Code, and any successor statute, regulation and
guidance thereto) of the Company, then only to the extent necessary to comply
with the requirements of Section 409A of the Code, any payments to which the
Executive may become entitled under paragraph 8 which are subject to Section
409A of the Code (and not otherwise exempt from its application) or other
payments subject to Section 409A(a)(2)(B) of the Code will be withheld until
the first business day of the seventh month following the Date of Termination,
at which time the Executive shall be paid an aggregate amount equal to six (6)
months of payments otherwise due to the Executive, as applicable.  After the first business day of the seventh
month following the Date of Termination and continuing each month thereafter,
the Executive shall be paid the regular payments otherwise due to the Executive
in accordance with the terms of paragraph 8(b) or other payment arrangements
subject to Section 409A(a)(2)(B) of the Code, as applicable.

 6

 

9.             Gross Up Payments.  The Company will reimburse the Executive for
any and all federal excise taxes and penalties (other than penalties imposed as
a result of the Executive’s actions), and any taxes imposed upon such
reimbursement amounts, including, but not limited to, any federal, state and
local income taxes, employment taxes, and other taxes, if any, which may become
due pursuant to the application of Sections 4999 of the Code on any payments to
the Executive in connection with this Agreement.

10.           Section 409A.  The
parties hereto intend that this Agreement comply with the requirements of
Section 409A of the Code and related regulations and Treasury
pronouncements (“Section 409A”).  If any provision provided
herein results in the imposition of an additional tax under the provisions of
Section 409A, the Executive and the Company agree that any such provision will
be reformed to avoid imposition of any such additional tax in the manner that
the Executive and the Company mutually agree is appropriate to comply with
Section 409A.  Notwithstanding the
foregoing, and other than as set forth in Section 9 of this Agreement, the
Company makes no guarantee of any tax consequences under any Section of the
Code or state tax laws, including, without limitation, Section 409A of the
Code.

11.           Non-competition; Nonsolicitation.

(a)           During the Term and, in the event
that the Executive’s employment is terminated for any reason, then for a period
of two (2) years following the Date of Termination the Executive shall be prohibited
from working (as an employee, consultant, advisor, director or otherwise) for,
engaging in or acquiring or investing in any business having assets engaged in
the following businesses in New England and other jurisdictions in which the
Company is conducting business as of the Date of Termination (the “Restricted
Businesses”):  (i) wholesale
marketing, sale, distribution and transportation of petroleum products; (ii)
the storage of petroleum products in connection with any of the activities
described in (i); (iii) bunkering; and (iv) the wholesale or retail sale or
distribution of petroleum or gasoline products, unless the Chief Executive
Officer of the Company and the Board approve such activity. Notwithstanding any
provision of this paragraph 11 to the contrary, the Executive may (x) own up to
3% of a publicly traded entity that is engaged in one or more of the Restricted
Businesses and (y) with the prior consent of the Company, may serve as a
director of an entity that is engaged in one or more of the Restricted
Businesses.  If any court determines that
any of the provisions of this paragraph 11 are invalid or unenforceable, the
remainder of such provisions shall not thereby be affected and shall be given
full effect without regard to the invalid provisions.  If any court construes any of the provisions
of this paragraph 11, or any part thereof, to be unreasonable because of the
duration of such provision or the geographic scope thereof, such court shall
have the power to reduce the duration or restrict the geographic scope of such
provision and to enforce such provision as so reduced or restricted.

(b)           During the Term and, in the event
that the Executive’s employment is terminated pursuant for any reason, then for
a period of two (2) years following the Date of Termination, the Executive
shall not, without the prior written consent of the Company:

(i)            Either individually or on behalf of or through any third
party, solicit, divert or appropriate or attempt to solicit, divert or
appropriate, for the purpose of engaging in any Restricted Business, any
customers of the Company, 

 7
 

or any prospective customers with respect to which
the Company has made a sales presentation (or similar offering of services).

(ii)           Either individually or on behalf of or through any third
party, directly or indirectly, solicit, entice or persuade or attempt to
solicit, entice or persuade any other employees of or consultants to the
Company within the immediately preceding 12-month period or any parent or
affiliate of the Company to leave the services of the Company or any parent or
affiliate for any reason.

12.           Confidential Information;
Unauthorized Disclosure.

(a)           During the Term and for the period
ending two (2) years following the Date of Termination, the Executive shall
not, without the written consent of the Board of Directors of the Company or a
person authorized thereby, disclose to any person, other than an employee of
the Company or a person to whom disclosure is reasonably necessary or
appropriate in connection with the performance by the Executive of his duties
as the Executive Vice President and General Counsel of the Company, any secret,
confidential and/or proprietary information, knowledge or data obtained by him
while in the employ of the Company or any of its affiliates with respect to the
Company or any of its subsidiaries and their respective businesses, the
disclosure of which he knows or should know will be damaging to the Company or
any of its subsidiaries; provided however, that such information, knowledge or
data shall not include (i) any information, knowledge or data known
generally to the public (other than as a result of unauthorized disclosure by
the Executive) or (ii) any information, knowledge or data which the
Executive may be required to disclose by any applicable law, order, or judicial
or administrative proceeding.

(b)           The Executive acknowledges that money
damages would not be sufficient remedy for any breach of this paragraph 12 by
the Executive, and the Company or its subsidiaries shall be entitled to enforce
the provisions of this paragraph 12 by seeking specific performance and
injunctive relief as remedies for such breach or any threatened breach. 
Such remedies shall not be deemed the exclusive remedies for a breach of this
paragraph 12 but shall be in addition to all remedies available at law or in
equity, including the recovery of damages from the Executive and his agents.

13.           Payment Obligations Absolute. 
Except as specifically provided in this Agreement, the Company’s obligation to
pay the Executive the amounts and to make the arrangements provided herein
shall be absolute and unconditional and shall not be affected by any
circumstances, including, without limitation, any set-off, counterclaim,
recoupment, defense or other right which the Company (including its
subsidiaries) may have against him or anyone else.  All amounts payable by
the Company shall be paid without notice or demand.  The Executive shall
not be obligated to seek other employment in mitigation of the amounts payable
or arrangements made under any provision of this Agreement, and the obtaining
of any such other employment shall in no event effect any reduction of the
Company’s obligations to make the payments and arrangements required to be made
under this Agreement.

14.           Successors.  This
Agreement shall inure to the benefit of and be binding upon the Company and its
successors and permitted assigns and any such successor or permitted assignee 

 8
 

shall be deemed
substituted for the Company under the terms of this Agreement for all purposes.
As used herein, “successor” and “assignee” shall be limited to
any person, firm, corporation or other business entity which at any time,
whether by purchase, merger or otherwise, directly or indirectly acquires a
majority of the equity interests of the Company or to which the Company assigns
this Agreement by operation of law or otherwise in connection with any sale of
all or substantially all of the assets of the Company, provided that any
successor or permitted assignee promptly assumes in a writing delivered to the
Executive this Agreement and, in no event, shall any such succession or
assignment release the Company from its obligations thereunder. As used in this
Agreement, “Company” shall mean the Company as herein before defined and
any successor to all or substantially all of its business and/or assets as
aforesaid which assumes and agrees to perform this Agreement by operation of
law, or otherwise.

15.           Assignment.  The
Executive shall not have any right to pledge, hypothecate, anticipate or assign
this Agreement or the rights hereunder, except by will or the laws of descent
and distribution, or delegate his duties or obligations hereunder.

16.           Governing Law.  The
provisions of this Agreement shall be construed in accordance with, and
governed by, the laws of the Commonwealth of Massachusetts without regard to
principles of conflict of laws.

17.           Entire Agreement.  This
Agreement and the Deferred Compensation Agreement between the parties dated as
of the date hereof constitute the entire agreement of the parties with regard
to the subject matter hereof, and contain all the covenants, promises,
representations, warranties and agreements between the parties with respect to
such subject matter.  Without limiting the scope of the preceding sentence,
all understandings and agreements preceding the date of execution of this
Agreement and the Deferred Compensation Agreement and relating to the subject
matter hereof are hereby null and void and of no further force and effect,
including, without limitation, all prior employment and severance agreements,
if any, by and between the Company and the Executive.

18.           Modification.  Any
modification of this Agreement will be effective only if it is in writing and
signed by the parties hereto.

19.           No Waiver.  No failure by
either party hereto at any time to give notice of any breach by the other party
of, or to require compliance with, any condition or provision of this Agreement
shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time.

20.           Severability.  Any
provision in this Agreement which is prohibited or unenforceable in any
jurisdiction by reason of applicable law shall, as to such jurisdiction, be
ineffective only to the extent of such prohibition or unenforceability without
invalidating or affecting the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

21.           Counterparts.  This Agreement may be executed
in one or more counterparts, each of which shall be deemed to be an original,
but all of which together will constitute one and the same Agreement.

 9
 

 

22.           Withholding of Taxes and Other
Employee Deductions.  The Company may withhold from any benefits and
payments made pursuant to this Agreement all federal, state, city and other
taxes as may be required pursuant to any law or governmental regulation or
ruling and all other normal employee deductions made with respect to the Company’s
employees generally.

23.           Headings.  The paragraph
headings have been inserted for purposes of convenience and shall not be used
for interpretive purposes.

24.           Notice.  For the purpose
of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given when
delivered or mailed by U.S. registered mail, return receipt requested, postage
prepaid, addressed to the parties at their addresses set forth below, or to
such other addresses as either party may have furnished to the other in writing
in accordance herewith except that notices of change of address shall be
effective only upon receipt.

If to
the Company:

Global GP LLC

P.O. Box 9161

800 South St.

Waltham, Massachusetts 02454-9161

Attention: President and Chief Executive Officer and the Chairman of the Board

with
a copies to:

Alan P. Baden

Vinson & Elkins L.L.P.

666 Fifth Avenue

25th Floor

New York, New York 10103

Thomas M. Greene

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 

One Financial Center 

Boston, MA 02111

If to
the Executive:

Edward J. Faneuil

56 Gatewood Drive

Needham, Massachusetts 02492

with
a copy to:

Michael A. Hickey

Kirkpatrick & Lockhart Preston Gates Ellis LLP

One Lincoln Street

Boston, Massachusetts 02111

 10
 

 

IN WITNESS WHEREOF, the parties have executed this
Agreement as of February 1, 2007.

 

	
  

  	
   

  	
  GLOBAL GP LLC

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Eric Slifka

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Eric Slifka

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  President & CEO

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EDWARD J. FANEUIL

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/Edward J. Faneuil

  	
   

  	
   

  

 

 11
 

 

EXHIBIT A

ADDITIONAL BENEFITS

The Company shall reimburse
Executive for all dues, fees and assessments in connection with Executive’s
golf club membership at Pine Brook Country Club.

 12

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