Document:

Employment offer letter of David Blumberg

 Exhibit 10.1 
 May 4, 2006 
  

	David	Blumberg 

 [Address] 
 Dear David, 
 This letter confirms our offer of a full-time exempt position as
Executive Vice President of Fulfillment Services and Vice President of Life Sciences with I-many, Inc., based in our Edison, NJ office. You will report to I-many’s President and CEO (currently John Rade on an interim basis) and be responsible
for all operations, including profit and loss, in I-many’s Professional Services, Maintenance and Support, Sustaining Engineering and Custom Engineering groups and all shared services involving the hosting and deployment of our products for use
internally and externally. You will also be responsible for determining strategy, managing product marketing, and going to market in I-many’s Life Sciences sector. You will be a member of the Executive Management Team of the Company and
considered an officer of the Company for SEC reporting purposes. 
 Your annualized base salary will be $200,000, paid bi-weekly. An annual variable
compensation plan will potentially give you an additional $200,000 (annualized in the first year) in cash compensation. Details of this bonus plan will be provided under separate cover. 
 You will receive an option to purchase 500,000 shares of I-many, Inc. common stock, pursuant to I-many’s 2001 or 2003 Stock Incentive Plan, subject to Board of Directors approval. The exercise price of the option
will be the closing market price of I-many’s common stock on the date of Board approval, which is expected to be your first day of employment. Of the total, 250,000 shares will vest on a four-year, calendar-based schedule. The remaining 250,000
will vest on your fifth anniversary of employment, subject to accelerated vesting upon achievement of individual and company performance milestones to be determined. 
 You will be eligible to receive benefits that include but are not limited to health and dental insurance, short and long term disability insurance, and participation in the company’s 401(k) plan, which currently
has a matching company contribution. 
 As to home office expenses, I-many will reimburse you for monthly charges for a cell phone for company use and will
provide you with a Blackberry. One telephone line for both voice and facsimile transmission is suggested, and monthly charges will be reimbursed. A home Internet connection will be reimbursed up to $50 monthly. 
 You will be eligible for a car allowance of $6,000 per year, payable bi-weekly. 
 Upon completion of six months of service, the Company will enter into a severance agreement with you (in the same form recently used with our general counsel and filed
with the SEC on Form 8-K) providing that, if the Company terminates your employment for any reason other than for “cause” (defined below), then you will receive severance compensation equal to six months of your base salary at the time of
termination, payable in the Company’s normal bi-weekly payroll cycles, provided that you sign a release of claims against the Company. “Cause” for termination shall be deemed to exist upon (a) a good faith finding by the Company
that you refused to perform your assigned duties, consistent with Company policies, (b) your material dishonesty, (c) a good faith finding by the Company that you have engaged in gross negligence or gross misconduct in a manner that
materially interferes with your job performance, or (d) your conviction, or your entry of a pleading of guilty or nolo contendre, for any crime involving moral turpitude or any felony. 
 In addition, if the Company is consolidated with or merged into another entity (other than a consolidation or merger in which the stockholders of the Company immediately
prior to the consolidation or merger own a majority of the issued and outstanding shares of stock of the survivor corporation, or of an entity owning the survivor corporation, immediately after the consolidation or merger); or if the business of the
Company is acquired by another entity in an acquisition of all or substantially all of the Company’s assets; or an 

 
entity acquiring in a transaction or series of related transactions in a three month period from the then-existing stockholders, more than 50 % of the
Company’s issued and outstanding shares of capital stock (each a “Company Sale”); then fifty percent (50%) of your unvested stock options on the date of the Company Sale shall become exercisable in full immediately prior to the
closing of such Company Sale. 
 No provision of this offer should be construed as a guaranty of continued employment, and all employees are employed at
will. Any contrary agreement must be in writing and must be signed by the President of I-many, Inc. Moreover, this letter does not create any such contrary agreement. 
 This offer of employment is contingent upon certain conditions being fulfilled including your agreement to and execution of I-many, Inc.’s standard Nondisclosure, Developments and Noncompete Agreement,
included with this letter. You must sign this Agreement prior to beginning your employment with us. In addition, this offer is contingent on I-many receiving satisfactory references. 
 Finally, by signing this letter, you are representing to I-many, Inc. that you are not subject to any agreement that precludes you from accepting this offer. We are looking forward to having you join our team and
believe you will find the experience a rewarding one. Welcome! 
 Sincerely, 
  

	
	 /S/ STEPHEN VAN HOUTEN

	Stephen Van Houten
	Director of Human Resources
	
	Accepted by:
	
	 /S/ DAVID BLUMBERG

	David BlumbergSummary of 2006 Executive Bonus Plans

 Exhibit 10.2 
 Summary of Terms of 2006 Executive Bonus Plans 
 Overview of Plans.

 During 2006, Kevin M. Harris, Chief Financial Officer; David Blumberg, Executive Vice President, Fulfillment Services; and Robert G.
Schwartz, Jr., Vice President and General Counsel (each, an “Executive”) and other management-level employees will operate under individual bonus plans that provide the potential for an annual cash bonus based on objective performance
criteria approved by the Compensation Committee of the Board of Directors. In addition, each Executive will receive a non-refundable, quarterly advance against his annual cash bonus if quarterly targets based on the same criteria are achieved.
Quarterly advances are based on cumulative progress towards annual targets. If a quarterly target is missed and made up on a cumulative basis in a future period, any previously missed advances will be paid. Finally, each Executive is eligible to
receive a semi-annual cash bonus based on satisfaction of individual performance criteria measured over six-month periods. 
 Company-Wide Performance Metrics. 
 Each Executive’s annual bonuses and quarterly advances will consist of separate
payouts for attaining targeted company-wide metrics in two areas: 
 (1) Company revenue bookings (including the license fees from new license
and subscription contracts signed during the period and up to one year of maintenance and support fees associated with new licenses), and 
 (2) Adjusted cash operating expenses (with targeted metrics that rewarded lower expenses). 
 The annual bonuses (but not the
quarterly advances) will be subject to downward adjustment for underperformance and upward adjustment for performance that exceeds targets, as described more fully below. 
 (1) Company revenue bookings component: 
  

	 	•	 	For performance at less than 80% of target, no award will be paid. 

  

	 	•	 	From 80% to 100% of target, 40% to 100% of the annual award will be paid, calculated roughly on a sliding scale. 

  

	 	•	 	From 101% to 120% of target or greater, 107% to 250% of the annual award will be paid, calculated roughly on a sliding scale. 

 (2) Cash operating expenses component: 
  

	 	•	 	For cash operating expenses greater than 105% of target,* no award will be paid. 

  

	 	•	 	From 105% to 100% of target,* 50% to 100% of the annual award will be paid, calculated roughly on a sliding scale. 

  

	 	•	 	From 99% to 90% of target or less,* 110% to 200% of the annual award will be paid, calculated roughly on a sliding scale 

  

	*	For periods in which revenue bookings exceed targets, operating expense targets are adjusted upward 1% for every 2% increase in revenue performance above 100%.

 Individual Performance Metrics. 
 The Chief Executive Officer will determine whether an Executive has achieved the pre-defined goals for the semi-annual, individual performance component
of his bonus. These goals vary for each Executive and are, to the greatest extent possible, quantifiable. 
 If less than 80% of an
Executive’s individual performance goals are achieved, no bonus will be paid for this component. If 80% but less than 100% of individual performance goals are achieved, then 50% of this component will be paid. If 100% or more of individual
performance goals are achieved, then 100% of this component will be paid. No more than 100% of this component will be paid. 
 Payouts for Each Executive. 
 Kevin M. Harris, CFO 
 If the Company attains 100% of its annual revenue bookings and adjusted cash operating expense targets, and if Mr. Harris achieves 100% of his
individual performance goals, then Mr. Harris would receive an annual cash bonus, including quarterly advances, of $95,000. This would consist of 
  

			
	Revenue Bookings Component	 	 $6,365 per quarter

	Revenue Bookings Component	 	 $25,460 at year-end (in addition to quarterly payments)

	Cash Operating Expense Component	 	 $3,135 per quarter

	Cash Operating Expense Component	 	 $12,540 at year-end (in addition to quarterly payments)

	Individual Performance Metrics	 	 $9,500 per six-month period

 Annual payouts are subject to adjustment as described above. 
 David Blumberg, EVP, Fulfillment Services 
 If
the Company attains 100% of its 2006 revenue bookings and adjusted cash operating expense targets, and if Mr. Blumberg achieves 100% of his individual performance goals, then Mr. Blumberg would receive a prorated annual cash bonus,
including quarterly advances, of $125,000. These amounts reflect the pro-rated portion of annual targets following the commencement of Mr. Blumberg’s employment in May 2006. The target bonus for full-year 2007 will be larger. The 2006
bonus would consist of 
  

			
	Revenue Bookings Component	 	 $13,400 per quarter (partial second quarter; full third and fourth quarters)

	Revenue Bookings Component	 	 $33,500 at year-end (in addition to quarterly payments)

	Cash Operating Expense Component	 	 $6,600 per quarter (partial second quarter; full third and fourth quarters)

	Cash Operating Expense Component	 	 $16,500 at year-end (in addition to quarterly payments)

	Individual Performance Metrics	 	 $20,000 per six-month period

 Annual payouts are subject to adjustment as described above. 

 Robert G. Schwartz, Jr., VP and General Counsel 
 If the Company attains 100% of its annual revenue bookings and adjusted cash operating expense targets, and if Mr. Schwartz achieves 100% of his
individual performance goals, then Mr. Schwartz would receive an annual cash bonus, including quarterly advances, of $85,000. This would consist of 
  

			
	Revenue Bookings Component	 	$5,695 per quarter
	Revenue Bookings Component	 	$22,780 at year-end (in addition to quarterly payments)
	Cash Operating Expense Component	 	$2,805 per quarter
	Cash Operating Expense Component	 	$11,220 at year-end (in addition to quarterly payments)
	Individual Performance Metrics	 	$8,500 per six-month period

 Annual payouts are subject to adjustment as described above.

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