Document:

Adler - Severance Agreement

	

SEVERANCE AGREEMENT

September 9, 2002 

Jack P. Adler, Esq.

Executive Vice President, Secretary & General Counsel

AlphaNet Solutions, Inc.

7 Ridgedale Avenue

Cedar Knolls, New Jersey 07927

Dear Jack:

By Unanimous Written Consent dated
September 3, 2002, the Board of Directors of AlphaNet Solutions, Inc., a New Jersey
corporation (hereinafter, the “Company”), approved the issuance to Jack P. Adler (hereinafter
referred to as “you” or “Executive”) of this Severance
Agreement, detailing your rights and the Company’s obligations to you in the event
of the involuntary termination of your employment with the Company for reasons other than (a)
“Cause” (as defined below), (b) “Good Reason” (as defined
below), or (c) in connection with a Change in Control (as defined below). In
the event your employment with the Company is voluntarily or involuntarily terminated as
a result of a “Change-of-Control,” as defined in the Change-of-Control Agreement
dated September 3, 2002 by and between the Company and yourself (the “Change-of-Control
Agreement”), the Change-of-Control Agreement shall apply and this Severance
Agreement shall be null and void.

In consideration of your continued
service to the Company, in the event your employment is terminated (a) involuntarily
by the Company at any time for reasons other than Cause or (b) by your
resignation or other withdrawal from employment with Good Reason (as defined below),
the Company shall, subject to your execution of a Severance and Release Agreement in form
and substance reasonably satisfactory to the Company, (i) continue to pay your
then-current base salary (including your then-current monthly car allowance or
equivalent) for a period of one (1) year from the date of termination (the “Salary
Continuation Period”); and (ii) pay you immediately on the date of termination a
lump sum equal to your earned pro rata performance bonus for the then-current fiscal
year. For purposes of this Agreement, your earned pro rata performance bonus will be
computed as of the date of termination of employment; provided, however, if such date is
within thirty (30) days of the close of a fiscal quarter, your performance bonus will be
computed as of the close of such quarter; provided, further, if the date of termination
of employment is more than thirty (30) days prior to the close of a fiscal quarter, your
performance bonus will be computed as of the close of the immediately preceding fiscal
quarter. 

The aforementioned salary
continuation payments will be made in twenty-six (26) equal biweekly installments in the
normal payroll cycle and shall include payment to you of all vacation pay earned and
unused as of the date of termination. In addition, during the Salary Continuation Period,
the Company shall continue to include you in the Company’s medical, dental, life and
disability insurance plans on the same basis as those benefits are provided to active
employees.  

For and in consideration of
the aforementioned salary continuation payments, you agree that, during the Salary
Continuation Period, you shall not within the Restricted Territory, as hereinafter
defined, directly or indirectly, as an owner, principal, agent, servant, representative
or employee, or as a member of a partnership or as an officer, director or stockholder of
any corporation or limited liability corporation, or in any manner whatsoever, solicit,
service, have contact with or divert any entity which is, or was during the immediate one
(1) year period prior the date of termination of your employment with the Company, a
customer of the Company; provided, however, nothing contained herein shall
prohibit you from being employed by any such entity in a non-revenue-generating capacity
following the termination of your employment with the Company. In addition,
during the Salary Continuation Period, you agree to comply with all provisions of the
Employee’s Invention Assignment, Confidentiality and Non-Compete Agreement
executed by and between the Company and yourself on March 11, 1999. The
“Restricted Territory” shall mean the geographic area commonly known
as the New York-New Jersey-Philadelphia corridor, including the five boroughs of
New York City, the entire State of New Jersey, Philadelphia and the County of
Montgomery in Pennsylvania.

For purposes of this Agreement, the
following terms will have the meanings ascribed to them below:

“Change-of-Control” shall
be deemed to have occurred when: (a) there is a dissolution or liquidation of the
Company; (b) there is a merger or consolidation in which the Company is
not the surviving corporation (other than a merger or consolidation with a wholly-owned
subsidiary, a reincorporation of the Company in a different jurisdiction, or
other transaction in which there is no substantial change in the stockholders of the
Company or their relative stock holdings; (c) there is a merger in which
the Company is the surviving corporation but after which the stockholders of
the Company (other than any stockholder which merges (or which owns or
controls another corporation which merges) with the Company in such merger)
own less than 50% of the shares or other equity interests in the Company; (d)
there is a sale of substantially all of the assets of the Company; (e)
there is an acquisition, sale or transfer of a majority of the outstanding
shares of the Company by tender offer or similar transaction; (f) a new or
existing shareholder who may be a member of management or an affiliate obtains unilateral
control, directly or indirectly, of the Company or its Board of Directors, whether alone
or in concert with others; (g) a new shareholder or group of shareholders not including
current management or affiliates obtains unilateral control, directly or indirectly, of
the Company or its Board of Directors; (h) there is an involuntary change in the
composition, as of the effective date of this Agreement, of more than thirty-three
percent (33%) of the Board of Directors of the Company; or (i) any person, entity or
combination thereof controls, individually or collectively through ownership, assignment,
voting proxy or the like, fifty (50) or more percent of the outstanding voting
shares ordinarily having the right to vote for the election of the directors of the
Company or the combined voting power thereof.

“Cause” shall mean (i)
conviction of, or the pleading of guilty or nolo contendere as to, any crime (whether or
not involving the Company) constituting a felony in the jurisdiction involved; (ii)
engaging in any substantiated act involving moral turpitude; (iii) gross neglect or
misconduct in the performance of Executive’s duties hereunder; (iv)
willful failure or refusal to perform such duties as may reasonably be delegated to
Executive; or (v) material breach of any provision of this Agreement by Executive;
provided, however, that with respect to clauses (iii), (iv) or (v),
Executive shall have received written notice from the Company setting forth the alleged
act or failure to act constituting “Cause” hereunder, and Executive shall not
have cured such act or refusal to act within 10 business days of his/her
actual receipt of notice.

“Good Reason” shall
mean the occurrence of any of the following: (i) any material demotion in your position
with the Company; (ii) any material diminution in your salary, benefits and eligibility
for bonus compensation, taken as a whole; (iii) any material and substantive diminution
in your duties and responsibilities for the Company (other than your Unavailability
as defined below); or (iv) any reassignment of your duties to a principal place of
employment located more than thirty (30) miles from your principal place of employment at
the date of this letter agreement, provided that Executive has given the Company written
notice of the occurrence of (i), (ii), (iii) or (iv) and provided that the Company does
not, within thirty (30) days of such written notice, return Executive to Executive’s
status before the occurrence.  

“Unavailability” shall
mean that, as a result of Executive’s incapacity due to a serious health (physical
or mental) condition or as a result of Executive’s unavailability for work for
reason other than unexcused absence, Executive shall have been absent from Executive’s
duties on a full time basis for either (i) one hundred twenty (120) days within any three
hundred sixty-five (365) day period, or (ii) ninety (90) consecutive days. In calculating
said time periods, the Company may include any time that Executive fails to perform
Executive’s duties hereunder as a result of incapacity due to a serious health
(physical or mental) condition as an absence for purposes of this agreement, even if such
time is also deemed and designated to be leave under the federal Family and Medical Leave
Act and the New Jersey Family Leave Act, which leave shall run concurrently with any time
period under this agreement, other insurance plans, or under applicable state and federal
disability programs. Executive further acknowledges and agrees that he is a “key” employee
as defined under 29 C.F.R. § 825.217(c) and that his rights, if any, to
reinstatement to his position are thereby limited.

This Severance Agreement supersedes
all prior understandings, written or oral, by and between the Company and yourself
concerning the subject matter hereof.  

Please signify your acceptance of
and agreement to the foregoing by signing in the space provided below for this purpose.  

			Very truly yours,

RICHARD G. ERICKSON
President & CEO

(By Authority of the Board of Directors)

ALL OF THE FOREGOING IS

ACCEPTED AND AGREED TO

THIS 9TH OF SEPTEMBER, 2002

JACK P. ADLER
——————————————

Jack P. AdlerPERLSTEIN - CHANGE-OF-CONTROL AGREEMENT

	

CHANGE-OF-CONTROL
AGREEMENT

September 9, 2002 

Mr. Mark Perlstein

Executive Vice President, Sales and Operations

AlphaNet Solutions, Inc.

7 Ridgedale Avenue

Cedar Knolls, New Jersey  07927

Dear Mark:

     By
Unanimous Written Consent dated September 3, 2002, the Board of Directors of AlphaNet
Solutions, Inc., a New Jersey corporation (hereinafter, the “Company”),
approved the issuance to you of this Change-of-Control Agreement, detailing your rights
and the Company’s obligations to you in the event of a “Change-Of-Control” (as
defined below) in the ownership, board of directors or management of the
Company.  

     In
consideration of your continued service to the Company, in the event there is a
Change-of-Control that results during the Protected Period (as defined
below) in either the involuntary termination of your employment with the Company or
voluntary resignation from the Company for Good Reason (as defined below), you
shall receive from the Company immediately upon the effective date of the
Change-of-Control: (i) a lump sum payment equal to one (1) year of your current base
salary (including your current monthly car allowance or equivalent and all vacation pay
earned and unused as of the date of termination/resignation); and (ii) a lump sum payment
equal to your earned pro rata performance bonus for the then-current fiscal year. For
purposes of this Agreement, your earned pro rata performance bonus will be computed as of
the effective date of the Change-of-Control; provided, however, if such date is within
thirty (30) days of the close of a fiscal quarter, your performance bonus will be
computed as of the close of such quarter; provided, further, if the effective date of the
Change-of-Control is more than thirty (30) days prior to the close of a fiscal quarter,
your performance bonus will be computed as of the close of the immediately preceding
fiscal quarter.  

     In
addition to the foregoing entitlements, for one (1) year from date of
termination/resignation, the Company shall continue, and/or require as a condition of the
Change-of-Control that any successor-in-interest continue, all of your current medical,
dental, life and disability insurance benefits. In the event of a Change-of-Control, all
stock options issued to you before the Change of Control under the Company’s
1995 Stock Plan, as the same may be amended from time to time, shall, to the extent such
stock options have not previously vested, immediately vest and become exercisable upon
the effective date of the Change-of-Control.  

     You
agree that, for one (1) year following the termination of your employment in connection
with a Change of Control, you shall not within the Restricted Territory, as hereinafter
defined, directly or indirectly, as an owner, principal, agent, servant, representative
or employee, or as a member of a partnership or as an officer, director or stockholder of
any corporation or limited liability corporation, or in any manner whatsoever, solicit,
service, have contact with or divert any entity which is, or was during the immediate one
(1) year period prior to the date of termination of your employment with the
Company, a customer of the Company. The “Restricted Territory” shall
mean the geographic area commonly known as the New York-New Jersey-Philadelphia corridor,
including the five boroughs of New York City, the entire State of New Jersey,
Philadelphia and the County of Montgomery in Pennsylvania. In
addition, during one (1) year following the termination of your employment in connection
with a Change of Control, you agree to comply with all provisions of the Confidentiality/Non-Solicitation
Agreement executed by and between the Company and yourself on June 7, 2002 and
any other Confidentiality/Non-Solicitation Agreement thereafter executed by and between
the Company and yourself.

     The
receipt of lump sum payments and the receipt of any and all other benefits hereunder (with
the exception of the immediate vesting of all stock options upon the occurrence of a
Change-of-Control) are also contingent upon your execution of a Severance and Release
Agreement in form and substance reasonably satisfactory to the Company.

     The
salary and bonus payments, as well as the benefit continuation and other provisions
referenced in the immediately foregoing paragraphs, shall be applicable for a period of
one (1) year from the date of any Change-of-Control, said period being the “Protected
Period” under this Agreement. If within such one-year period a
Change-of-Control has not resulted in either the involuntary termination of your
employment with the Company or any successor-in-interest to the Company or voluntary
resignation from the Company or any successor-in-interest to the Company for Good
Reason, this Agreement and the terms hereof shall be null and void and have no
further force or effect. Similarly, in the event your employment with the Company or any
successor-in-interest to the Company is voluntarily or involuntarily terminated in the
absence of a Change-of-Control, this Change-of-Control Agreement shall be null and void.  

     For
purposes of this Agreement, the following terms will have the meanings ascribed to
them below:

     “Change-of-Control”
shall be deemed to have occurred when: (a) there is a dissolution or liquidation of the
Company; (b) there is a merger or consolidation in which the Company is
not the surviving corporation (other than a merger or consolidation with a wholly-owned
subsidiary, a reincorporation of the Company in a different jurisdiction, or
other transaction in which there is no substantial change in the stockholders of Company
or their relative stock holdings; (c) there is a merger in which the Company
is the surviving corporation but after which the stockholders of the Company
(other than any stockholder which merges (or which owns or controls another corporation
which merges) with the Company in such merger) own less than 50% of the shares
or other equity interests in the Company; (d) there is a sale of
substantially all of the assets of the Company; (e) there is an acquisition,
sale or transfer of a majority of the outstanding shares of  the Company by
tender offer or similar transaction; (f) a new or existing shareholder who may be a
member of management or an affiliate obtains unilateral control, directly or indirectly,
of the Company or its Board of Directors, whether alone or in concert with others; (g) a
new shareholder or group of shareholders not including current management or affiliates
obtains unilateral control, directly or indirectly, of the Company or its Board of
Directors; (h) there is an involuntary change in the composition, as of the effective
date of this Agreement, of more than thirty-three percent (33%) of the Board of Directors
of the Company; or (i) any person, entity or combination thereof controls, individually
or collectively through ownership, assignment, voting proxy or the like, fifty (50) or
more percent of the outstanding voting shares ordinarily having the right to vote for the
election of the directors of the Company or the combined voting power thereof.

     “Good
Reason” shall mean the occurrence of any of the following within one (1) year of a
Change of Control: (i) any material demotion in your position with the Company;
(ii) any material diminution in your salary, benefits and eligibility for bonus
compensation, taken as a whole; (iii) any material and substantive diminution in your
duties and responsibilities for the Company; or (iv) any reassignment of your duties to a
principal place of employment located more than thirty (30) miles from your principal
place of employment at the date of this letter agreement, provided that Executive has
given the Company written notice of the occurrence of (i), (ii), (iii) or (iv) and
provided that the Company does not, within thirty (30) days of such written notice,
return Executive to Executive’s status before the occurrence.

     This
Change-of-Control Agreement supersedes all prior understandings, written or oral, by and
between the Company and yourself concerning the subject matter hereof.  

     Please
signify your acceptance of and agreement to the foregoing by signing in the space
provided below for this purpose.  

			Very truly yours,

RICHARD G. ERICKSON
President & CEO

(By Authority of the Board of Directors)

ALL OF THE FOREGOING IS

ACCEPTED AND AGREED TO

THIS 9TH  OF SEPTEMBER, 2002

MARK PERLSTEIN
——————————————

Mark Perlstein

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