Document:

Ex10-11_Transition Agreement

		

			 

		

		
			Exhibit 10.11
		

		
			 
		

		
			April 1, 2014
		

		
			Lawrence R. Irving
		

		
			 
		

		
			Dear Larry, 
		

		
			This letter (the “Agreement”) is to confirm the agreement between you and Synchronoss Technologies, Inc. (“Synchronoss”, and together with its subsidiaries, the “Company”) regarding your resignation from the Company, effective December 31, 2014.
		

		
			1.Your resignation shall be effective, and your employment with the Company will terminate, on December 31, 2014 (“Termination Date”).  In addition, effective April 1, 2014, you will resign from your positions as Executive Vice President, Chief Financial Officer, Chief Compliance Officer and Treasurer and your new position as of April 1, 2014 shall be Executive Vice President, Business Strategy.  
		

		
			2. The Company will pay you your regular wages through December 31, 2014 in the normal course of business.  You will receive information about your right to continue your group health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) after the Termination Date.  In order to continue your coverage, you must file the required election form.  If you elect to continue group health insurance coverage, then the Company will pay the employer portion of the monthly premium under COBRA for yourself for the period of twelve months following the month in which the Termination Date occurs.  You acknowledge that you otherwise would not have been entitled to any continuation of Company-paid health insurance.  
		

		
			3.In consideration for the Company’s agreement to continue your employment through the Termination Date, to the fullest extent permitted by law, you waive, release and promise never to assert any claims or causes of action, whether or not now known, against the Company or its predecessors, successors or past or present subsidiaries, stockholders, directors, officers, employees, consultants, attorneys, agents, assigns and employee benefit plans with respect to any matter, including (without limitation) any matter related to your employment with the Company or the termination of that employment, including (without limitation) claims to attorneys’ fees or costs, claims of wrongful discharge, constructive discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract or breach of the covenant of good faith and fair dealing and any claims of discrimination or harassment based on sex, age, race, national origin, disability or any other basis under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act, the Equal Pay Act of 1963, and all other federal and state laws and regulations relating to employment.  However, this release covers only those claims that arose prior to the execution of this Agreement and only those claims that may be waived 
		

		 

		

			 

		

 

		

			 

		

		by applicable law.  Execution of this Agreement does not bar any claim that arises hereafter, including (without limitation) a claim for breach of this Agreement.
		

		
			4. The Company previously granted to you stock options and shares of restricted stock under the Company’s 2006 Equity Incentive Plan.  The Company agrees that, provided you provide the Company with an executed copy of the release attached hereto as Exhibit A (the “General Release”) signed no earlier than the Termination Date, and that you do not revoke the General Release, any stock options or shares of restricted stock granted to you on or prior to the Termination Date will be deemed, as of the Termination Date, to be vested to such extent that they would have vested had your employment continued until February 15, 2015 (“Final Vesting Date”), notwithstanding that the Final Vesting Date is after the Termination Date.   These grants are governed by the terms and conditions of such plan. You should review the terms and conditions of the plan to determine the period of time you have to exercise your stock options.  If you do not exercise your stock options during this period your stock options will be lost.  A copy of the plan is available from Human Resources.   
		

		
			5.At all times in the future, you will remain bound by the Company’s Proprietary Information and Invention Agreement (“PIIA”) signed by you on ________, a copy of which is attached and incorporated into this Agreement.  
		

		
			6. You agree that the terms of this Agreement are confidential and that you will not disclose the terms of this Agreement or the negotiations leading to this Agreement to any person or entity, including but not limited to any current or former employee of the Company, with the exception of a disclosure (a) required by law or to enforce any obligations in this Agreement; and (b) to your spouse, attorneys, accountants, immediate family, and financial advisors, who must be advised of the confidential nature of this Agreement and must agree to be bound by this confidentiality provision.  You represent that on your Termination Date you will return all property that belongs to the Company, including without limitation, company laptop and phone, copies of documents that belong to the Company and files stored on your personal computer or data storage devices that contain information belonging to the Company, that the Company has agreed to transfer your cell phone number to you for your personal use.  The Company will use commercial reasonable efforts to forward to an e-mail designated to you any non-Company-related e-mails.
		

		

		

		 

		

			 

		

 

		

			 

		

		7.You agree that except for that certain Employment Agreement dated as of December 31, 2011 between you and the Company (the “Employment Agreement”), the PIIA as expressly provided in Paragraph 5 of this Agreement and your participation in the Company’s 2006 Equity Incentive Plan subject to Paragraph 4 of this Agreement, effective as of the Termination Date, this Agreement renders null and void any and all prior agreements between you and the Company.  You and the Company agree that, except for the Employment Agreement, the PIIA as expressly provided in Paragraph 5 of this Agreement and your participation in the Company’s 2006 Equity Incentive Plan subject to Paragraph 4 of this Agreement, this Agreement constitutes the entire agreement between you and the Company regarding the subject matter of this Agreement, and that this Agreement may be modified only in a written document signed by you and a duly authorized officer of the Company.
		

		
			8.You agree that this Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement.  Execution of a facsimile copy shall have the same force and effect as execution of an original, and a facsimile signature shall be deemed an original and valid signature.
		

		
			9. Should any provision of this Agreement be held to be illegal, void or unenforceable by a court of competent jurisdiction, such provision shall be of no force and effect.  However, the illegality or unenforceability of any such provision shall have no effect upon, and shall not impair the enforceability of, any other provision of this Agreement.
		

		
			10.You understand and agree not to engage in any act or say anything that is intended, or may reasonably be expected, to harm the reputation, business or operations of the Company, its customers, employees, officers, directors or shareholders. 
		

		
			 
		

		
			11.You have up to 21 days after receipt of this Agreement within which to review it, and to discuss it with an attorney of your own choosing regarding whether or not you wish to execute it.  Furthermore, you have seven days after you have signed this Agreement during which time you may revoke this Agreement.  If you wish to revoke this Agreement, you may do so by delivering a letter of revocation to the Company’s Senior Director of Global Human Resources.  Because of this revocation period, you understand that this Agreement shall not become effective or enforceable until the eighth day after the date you sign it.   
		

		
			 
		

		
			Please indicate your agreement with the above terms by signing below.
		

		
			Sincerely,
		

		
			_________________________________
		

		
			Stephen G. Waldis
		

		
			      Chief Executive Officer
		

		
			
		

		

		

		 

		

			 

		

 

		

			 

		

		 
		

		
			 
		

		
			My agreement with the above terms is signified by my signature below.  Furthermore, I acknowledge that I have read and understand this Agreement and that I voluntarily sign this release of all claims, known and unknown, with full understanding that at no time in the future may I pursue any of the rights I have waived in this Agreement. 
		

		
			 
		

		
			 
		

		
			Signed:  ___________________________Dated: _____________________________
		

		
			Lawrence R. Irving
		

		
			 
		

		

		

		 

		

			 

		

 

		

			 

		

		
		

		
			EXHIBIT A
		

		
			GENERAL RELEASE OF ALL CLAIMS
		

		
			In consideration for partial acceleration of stock options and shares of restricted stock to Lawrence R. Irving (“Employee”) by Synchronoss Technologies, Inc. (the “Company”), pursuant to Paragraph 5 of the letter agreement dated April 1, 2014 (the “Agreement”) to which this General Release of All Claims (“General Release”) is attached as Exhibit A, Employee, on Employee’s own behalf and on behalf of Employee’s heirs, executors, administrators and assigns, hereby fully and forever releases and discharges the Company and its directors, officers, employees, agents, successors, predecessors, subsidiaries, parent, shareholders, employee benefit plans and assigns (together called “the Releasees”), from all known and unknown claims and causes of action including, without limitation, any claims or causes of action arising out of or relating in any way to Employee’s employment with the Company, including the termination of that employment.
		

			
	
			
				 1.
			Employee understands and agrees that this General Release is a full and complete waiver of all claims, including (without limitation) claims to attorneys’ fees or costs, claims of wrongful discharge, constructive discharge, breach of contract, breach of the covenant of good faith and fair dealing, harassment, retaliation, discrimination, violation of public policy, defamation, invasion of privacy, interference with a leave of absence, personal injury, fraud or emotional distress and any claims of discrimination or harassment based on sex, age, race, national origin, disability or any other basis under Title VII of the Civil Rights Act of 1964, the Equal Pay Act of 1963, the Americans With Disabilities Act, the Civil Rights Act of 1866, the Family Medical Leave Act or any other federal or state law or regulation relating to employment or employment discrimination.  Employee further understands and agrees that this waiver includes all claims, known and unknown, to the greatest extent permitted by applicable law.

			
	
			
				 2.
			This Agreement extends to all claims of every nature and kind, known or unknown, suspected or unsuspected, past or present, arising from or attributable to Employee’s relationship with the Company or the termination of that relationship, and Employee hereby expressly waives any and all rights granted to Employee under any law or regulation that would purport to make invalid any release of claims the releaser does not know or suspect to exist in his or her favor at the time of executing the release.

			
	
			
				 3.
			Employee also hereby agrees that nothing contained in this General Release shall constitute or be treated as an admission of liability or wrongdoing by the Releasees or Employee.

		 

		

			 

		

 

		

			 

		

			
	
			
				 4.
			Employee represents that he has returned to the Company all property that belongs to the Company, including (without limitation) copies of documents that belong to the Company and files stored on his computer(s) that contain or embody business, technical or financial information that he has developed, learned or obtained during the term of his service to the Company that relate to the Company or the business or demonstrably anticipated business of the Company, except that he may keep his personal copies of his employment and compensation records.

			
	
			
				 5.
			If any provision of this General Release is found to be unenforceable, it shall not affect the enforceability of the remaining provisions and the court shall enforce all remaining provisions to the full extent permitted by law.

			
	
			
				 6.
			This General Release constitutes the entire agreement between Employee and Releasees with regard to the subject matter of this General Release.  It supersedes any other agreements, representations or understandings, whether oral or written and whether express or implied, which relate to the subject matter of this General Release except as otherwise set forth in the Agreement.  However, this General Release covers only those claims that arose prior to the execution of this General Release.  Execution of this General Release does not bar any claim that arises hereafter, including (without limitation) a claim for breach of the General Release.

			
	
			
				 7.
			This General Release is not to be signed, and will not become effective, prior to Employee’s cessation of employment.  Employee acknowledges that (a) his waiver and release does not apply to any claims that may arise after he signs this General Release; (b) he should consult with an attorney before executing this General Release; (c) he has had at least twenty-one (21) days from the date he first received this General Release within which to review the General Release; (d) he has seven (7) days following the execution of this General Release to revoke this General Release; and (e) this General Release shall not be effective until the eighth day after this General Release has been signed by Employee (the “Effective Date”).  To revoke this General Release, Employee must notify the Company’s Chief Executive Officer in writing of his revocation, and such written notification must be received within seven (7) days of the date Employee signs this General Release.  Employee shall not be entitled to receive any of the consideration being provided in exchange for this General Release until the Effective Date.

			
	
			
				 8.
			Employee agrees not to disclose to others the terms of this General Release, except that Employee may disclose such 
		

		 

		

			 

		

 

		

			 

		

			information to Employee’s spouse and to Employee’s attorney or accountant in order for such attorney or accountant to render services to Employee related to this General Release. Employee agrees that he will never make any negative or disparaging statements (orally or in writing) about the Company or its stockholders, directors, officers, employees, products, services or business practices, except as required by law.

			
	
			
				 9.
			Employee states that before signing this General Release, Employee:

			
	
			
				 ·
			

			
	
			
			Has read it,

			
	
			
				 ·
			

			
	
			
			Understands it,

			
	
			
				 ·
			

			
	
			
			Knows that he is giving up important rights,

			
	
			
				 ·
			

			
	
			
			Is aware of his right to consult an attorney before signing it, and

			
	
			
				 ·
			

			
	
			
			Has signed it knowingly and voluntarily.

		
			 
		

		
			Date: ____________________________________________________________________
		

		
			Signature of Lawrence R. Irving
		

		
			 
		

		
			NOT TO BE SIGNED BEFORE DECEMBER 31, 2014Ex10-15_Employment Agreement

		

			`

		

		
			Exhibit 10.15
		

		
			EMPLOYMENT  AGREEMENT
		

		
			THIS AGREEMENT is entered into as of April 1, 2014, by and between Karen Rosenberger (the “Executive”) and Synchronoss Technologies, Inc., a Delaware corporation (the “Company”).   Except as otherwise provided herein, defined terms are set forth in Section 10 below.  
		

		
			1. Duties and Scope of Employment.
		

		
			(a)Position.  For the term of her employment under this Agreement (the “Employment”), the Company agrees to continue to employ the Executive in the position of Executive Vice President, Chief Financial Officer and Treasurer.  The Executive shall report to the Company’s  President or Chief Executive Officer or his or her designee. 
		

		
			(b)Obligations to the Company.  During her Employment, the Executive (i) shall devote her full business efforts and time to the Company, (ii) shall not engage in any other employment, consulting or other business activity that would create a conflict of interest with the Company, (iii) shall not assist any person or entity in competing with the Company or in preparing to compete with the Company, and (iv) shall comply with the Company’s policies and rules, as they may be in effect from time to time.
		

		
			(c)No Conflicting Obligations.  The Executive represents and warrants to the Company that she is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with her obligations under this Agreement.  The Executive represents and warrants that she will not use or disclose, in connection with her Employment, any trade secrets or other proprietary information or intellectual property in which the Executive or any other person has any right, title or interest and that her Employment will not infringe or violate the rights of any other person.  The Executive represents and warrants to the Company that she has returned all property and confidential information belonging to any prior employer.
		

		
			(d)Commencement Date.  The Executive has previously commenced full-time Employment.  This Agreement shall govern the terms of Executive’s Employment effective as of April 1, 2014 (the “Commencement Date”) through the Term (as defined in Section 5(a) below).
		

		
			2.Compensation
		

		
			(a)Salary.    The Company shall pay the Executive as compensation for her services a base salary at a gross annual rate of not less than $300,000.  Such salary shall be payable in accordance with the Company’s standard payroll procedures.  (The annual compensation specified in this Subsection (a), together with any increases in such compensation that the Company may grant from time to time, is referred to in this Agreement as “Base Salary.”).
		

		 

		

			 

		

 

		
			(b)Incentive Bonuses.   The Executive shall be eligible for an annual incentive bonus with a target amount equal to 60% of her Base Salary (the “Target Bonus”).  The Executive’s  bonus (if any) shall be awarded based on criteria established by the Company’s Board of Directors (the “Board”) or its Compensation Committee.  The Executive shall not be entitled to an incentive bonus if she is not employed by the Company on the last day of the fiscal year for which such bonus is payable.  Any bonus for a fiscal year shall be paid within 21⁄2 months after the close of that fiscal year.  The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding.  
		

		
			3.Vacation and Employee Benefits.  During her Employment, the Executive shall be eligible for paid vacations in accordance with the Company’s vacation policy, as it may be amended from time to time, with a minimum of 20 vacation days per year.  During her Employment, the Executive shall be eligible to participate in the employee benefit plans maintained by the Company, subject in each case to the generally applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such plan.
		

		
			4.Business Expenses.  During her Employment, the Executive shall be authorized to incur necessary and reasonable travel, entertainment and other business expenses in connection with her duties hereunder.  The Company shall reimburse the Executive for such expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company’s generally applicable policies.    Notwithstanding anything to the contrary herein, except to the extent any expense or reimbursement provided pursuant to this Agreement does not constitute a “deferral of compensation” within the meaning of Section 409A of the Code, (a) the amount of expenses eligible for reimbursement provided to the Executive during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to the Executive in any other calendar year, (b) the reimbursements for expenses for which the Executive is entitled to be reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and (c) the right to payment or reimbursement hereunder may not be liquidated or exchanged for any other benefit.  
		

		
			5.Term of Employment.
		

		
			(a)Employment Term.  The Company hereby employs Executive to render services to the Company in the position and with the duties and responsibilities described in Section 1 for the period commencing on the Commencement Date and ending upon the earlier of (i) December 31, 2014, and (ii) the date Executive’s  Employment is terminated in accordance with Section 5(b) (the “Term”).  After the initial three-year term of this Agreement Executive’s Employment shall be “at will” and either Executive or the Company shall be entitled to terminate Executive’s Employment at any time and for any reason, with or without cause.  However, this Agreement will not govern the terms of Executive’s employment after the Term.
		

		
			(b)Termination of Employment.  The Company may terminate the Executive’s Employment at any time and for any reason (or no reason), and with or without Cause, by giving the Executive 30 days’ advance notice in writing.  The Executive may terminate her Employment by giving the Company 30 days’ advance notice in writing.  The Executive’s Employment shall terminate 
		

		 

		

			2

		

 

		automatically in the event of her death.  The termination of the Executive’s Employment shall not limit or otherwise affect her obligations under Section 7.
		

		
			(c)Rights Upon Termination.  Upon Executive’s termination of Employment for any reason, Executive shall be entitled to the compensation, benefits and reimbursements described in Sections 1, 2, 3, and 4 for the period preceding the effective date of such termination.  Upon the termination of Executive’s  Employment under certain circumstances, Executive may be entitled to additional severance pay benefits described in Section 6.  The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.  This Agreement shall terminate when all obligations of the parties hereunder have been satisfied.
		

		
			(d)Rights Upon Death.  If Executive’s Employment ends due to death, Executive’s estate shall be entitled to receive an amount equal to her target bonus for the fiscal year in which her death occurred, prorated based on the number of days she was employed by the Company during that fiscal year.  All amounts under this Section 5(d) shall be paid on the first regularly scheduled payroll date that occurs on or after 60 days after the Executive’s date of death.  
		

		
			(e)Rights Upon Permanent Disability.  If Executive’s Employment ends due to Permanent Disability and a Separation occurs, Executive shall be entitled to receive (i) an amount equal to her Target Bonus for the fiscal year in which her Employment ended, prorated based on the number of days she was employed by the Company during that fiscal year, and (ii) a lump sum amount equal to the product of (A) 24 and (B) the monthly amount the Company was paying on behalf of the Executive and her eligible dependents with respect to the Company’s health insurance plans in which the Executive and her eligible dependents were participants as of the date of Separation.  The amounts payable under this Section 5(e) shall be paid on the first regularly scheduled payroll date that occurs on or after 60 days after the Executive’s Separation.  
		

		
			6.Termination Benefits.
		

		
			(a)Preconditions.  Any other provision of this Agreement notwithstanding, Subsections (b) and (c) below shall not apply unless the Executive:
		

		
			(i)Has executed a general release of all claims the Executive may have against the Company or persons affiliated with the Company (substantially in the form attached hereto as Exhibit A) (the “Release”);
		

		
			(ii)Has returned all property of the Company in the Executive’s possession; and
		

		
			(iii)If requested by the Board, has resigned as a member of the Board and as a member of the boards of directors of all subsidiaries of the Company, to the extent applicable.
		

		
			The Executive must execute and return the Release within the period of time set forth in the Release (the “Release Deadline”).  The Release Deadline will in no event be later than 50 days after the Executive’s Separation.  If the Executive fails to return the Release on or before the Release Deadline or if the Executive revokes the Release, then the Executive will not be entitled to the benefits described in this Section 6.  
		

		 

		

			3

		

 

		
			(b)Severance Pay in the Absence of a Change in Control.  If, during the term of this Agreement and prior to the occurrence of a Change in Control or more than 12 months following a Change in Control, the Company terminates the Executive’s  Employment with the Company for a reason other than Cause or Permanent Disability and a Separation occurs, then the Company shall pay the Executive a lump sum severance payment equal to (i) one and one-half times her Base Salary in effect at the time of the termination of Employment, (ii) her average annual bonus based on the actual amounts received in the immediately preceding two years and (iii) the product of (A) 24 and (B) the monthly amount the Company was paying on behalf of the Executive and her eligible dependents with respect to the Company’s health insurance plans in which the Executive and her eligible dependents were participants as of the date of Separation.  If, during the term of this Agreement and prior to the occurrence of a Change in Control or more than 12 months following a Change in Control, Executive resigns her Employment for Good Reason and a Separation occurs, then the Company shall pay the Executive a lump sum severance payment equal to (i) one times her Base Salary in effect at the time of the termination of Employment (ii) her average annual bonus based on the actual amounts received in the immediately preceding two years and a lump sum amount equal to the product of (A) 24 and (B) the monthly amount the Company was paying on behalf of the Executive and her eligible dependents with respect to the Company’s health insurance plans in which the Executive and her eligible dependents were participants as of the date of Separation.   .      Notwithstanding anything herein to the contrary, in the event that the Executive Employment is terminated for a reason other than Cause or Permanent Disability or the Executive resigns her Employment for Good Reason under this Subsection (b) within two years after commencement of employment with the Company, then in lieu of using the average bonus received in the immediately preceding two years for the above calculation, such calculation shall use her Target Bonus in the year of termination if such termination under this Subsection (b) occurs in the first year of employment with the Company and the actual bonus the Executive received during the first year of employment with the Company if such termination under this Subsection (b) occurs in the second year of employment with the Company.  However, the amount of the severance payment under this Subsection (b) shall be reduced by the amount of any severance pay or pay in lieu of notice that the Executive receives from the Company under a federal or state statute (including, without limitation, the Worker Adjustment and Retraining Notification Act).  
		

		
			(c)Severance Pay in Connection with a Change in Control.    If, during the term of this Agreement and within 12 months following a Change in Control, the Executive is subject to an Involuntary Termination, then (i) the Company shall pay the Executive a lump sum severance payment equal to (x) two times her Base Salary in effect at the time of the termination of Employment plus two times the Executive’s average bonus received in the immediately preceding two years and (y) a lump sum amount equal to the product of (A) 24 and (B) the monthly amount the Company was paying on behalf of the Executive and her eligible dependents with respect to the Company’s health insurance plans in which the Executive and her eligible dependents were participants as of the date of Separation , (ii) the vesting of all stock options and shares of restricted stock granted by the Company and held by the Executive shall be accelerated in full as of the date of the Involuntary Termination.  Notwithstanding anything herein to the contrary, in the event that the Executive is subject to an Involuntary Termination under this Subsection (c) within two years after commencement of employment with the Company, then in lieu of using the average bonus received in the immediately preceding two years for the above calculation, such calculation shall use her Target Bonus in the year of the Involuntary Termination if such termination under this Subsection (c) occurs in the first year of 
		

		 

		

			4

		

 

		employment with the Company and the actual bonus the Executive received during the first year of employment with the Company if such termination under this Subsection (c) occurs in the second year of employment with the Company.  However, the amount of the severance payment under this Subsection (c) shall be reduced by the amount of any severance pay or pay in lieu of notice that the Executive receives from the Company under a federal or state statute (including, without limitation, the Worker Adjustment and Retraining Notification Act).  
		

		
			(d)Commencement of Severance Payments.  Payment of the severance pay provided for under this Agreement will be made on the first regularly scheduled payroll date that occurs on or after 60 days after the Executive’s Separation, but only if the Executive has complied with the release and other preconditions set forth in Subsection (a) (to the extent applicable).  
		

		
			7.Non-Solicitation and Non-Disclosure.
		

		
			(a)Non-Solicitation.  During the period commencing on the date of this Agreement and continuing until the second anniversary of the date the Executive’s Employment terminated for any reason, the Executive shall not directly or indirectly, personally or through others, solicit or attempt to solicit (on the Executive’s own behalf or on behalf of any other person or entity) either (i) the employment of any employee or consultant of the Company or any of the Company’s affiliates or (ii) the business of any customer of the Company or any of the Company’s affiliates in a manner that could constitute engaging in sale of goods or services in or for a Restricted Business or otherwise interferes with Company’s relationship with such customer.
		

		
			(b)Non-Competition.  As one of the Company’s executive and management personnel and officer, Executive has obtained extensive and valuable knowledge and confidential information concerning the business of the Company, including certain trade secrets the Company wishes to protect.  Executive further acknowledges that during her Employment she will have access to and knowledge of Proprietary Information.  To protect the Company’s Proprietary Information, Executives agrees that during her Employment with the Company, whether full-time or half-time and for a period of 24 months after her last day of Employment with the Company, she will not directly or indirectly engage in (whether as an employee, consultant, proprietor, partner, director or otherwise), or have any ownership interest in, or participate in the financing, operation, management or control of, any person, firm, corporation or business that engages in a Restricted Business in a Restricted Territory.  It is agreed that ownership of (i) no more than one percent (1%) of the outstanding voting stock of a publicly traded corporation, or (ii) any stock she presently owns shall not constitute a violation of this provision.
		

		
			(c)Reasonable.  Executive agrees and acknowledges that the time limitation on the restrictions in this Section 7, combined with the geographic scope, is reasonable.  Executive also acknowledges and agrees that this provision is reasonably necessary for the protection of Proprietary Information, that through her Employment she shall receive adequate consideration for any loss of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting the Company’s business value which will be imparted to him.  If any restriction set forth in this Section 7 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be 
		

		 

		

			5

		

 

		interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable.
		

		
			(d)Non-Disclosure.  The Executive has entered into a Proprietary Information and Inventions Agreement with the Company, which is incorporated herein by this reference.
		

		
			8.Successors.
		

		
			(a)Company’s Successors.  This Agreement shall be binding upon any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets.  For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which becomes bound by this Agreement.
		

		
			(b)Employee’s Successors.  This Agreement and all rights of the Executive hereunder shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
		

		
			9.Taxes.
		

		
			(a)Withholding Taxes.  All payments made under this Agreement shall be subject to reduction to reflect applicable withholding and payroll taxes or other deductions required to be withheld by law.  
		

		
			(b)Tax Advice.  The Executive is encouraged to obtain her own tax advice regarding her compensation from the Company.  The Executive agrees that the Company does not have a duty to design its compensation policies in a manner that minimizes the Executive’s tax liabilities, and the Executive shall not make any claim against the Company or the Board related to tax liabilities arising from the Executive’s compensation. 
		

		
			(c)Parachute Taxes.  Notwithstanding anything in this Agreement to the contrary, if  it shall be determined that any payment or distribution by the Company to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (“Total Payments”) to be made to Executive would otherwise exceed the amount (the “Safe Harbor Amount”) that could be received by Executive without the imposition of an excise tax under Section 4999 of Code, then the Total Payments shall be reduced to the extent, and only to the extent, necessary to assure that their aggregate present value, as determined in accordance the applicable provisions of Section 280G of the Code and the regulations thereunder, does not exceed the greater of the following dollar amounts (the “Benefit Limit”): (i) the Safe Harbor Amount, or (ii) the greatest after-tax amount payable to Executive after taking into account any excise tax imposed under section 4999 of the Code on the Total Payments.  All determinations to be made under this subparagraph (c) shall be made by an independent public accounting firm selected by the Company before the date of the Change of Control (the “Accounting Firm”).  In determining whether such Benefit Limit is exceeded, the Accounting Firm shall make a reasonable determination of the value to be assigned to the restrictive covenants in effect for Executive pursuant to Section 7 of this Agreement, and the amount of her potential parachute payment under Section 280G of the Code shall reduced by the value of those restrictive covenants to the extent consistent with Section 280G of the Code and the 
		

		 

		

			6

		

 

		regulations thereunder. To the extent a reduction to the Total Payments is required to be made in accordance with this subparagraph (c), such reduction and/or cancellation of acceleration of equity awards shall occur in the order that provides the maximum economic benefit to Executive.  In the event that acceleration of equity awards is to be reduced, such acceleration of vesting also shall be canceled in the order that provides the maximum economic benefit to Executive.  Notwithstanding the foregoing, any reduction shall be made in a manner consistent with the requirements of section 409A of the Code and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but not below zero.  All of the fees and expenses of the Accounting Firm in performing the determinations referred to in this subparagraph (c) shall be borne solely by the Company.  The Company agrees to indemnify and hold harmless the Accounting Firm from any and all claims, damages and expenses resulting from or relating to its determinations pursuant to this subparagraph (c), except for claims, damages or expenses resulting from the gross negligence or willful misconduct of the Accounting Firm. 
		

		
			(d)Section 409A.  Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.  If the Company determines that the Executive is a “specified employee” under Section 409A(a)(2)(B)(i) of the Code at the time of her Separation, then (i) the severance payments under Section 6, to the extent that they are subject to Section 409A of the Code, shall commence on the first business day following (A) expiration of the six-month period measured from the Executive’s Separation, or (B) the date of the Executive’s death, and (ii) the installments that otherwise would have been paid prior to such date will be paid in a lump sum when such payments commence.  
		

		
			10.Definitions.
		

		
			(a)Cause.  For all purposes under this Agreement, “Cause” shall mean: 
		

		
			(i)An unauthorized use or disclosure by the Executive of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company;
		

		
			(ii)A material breach by the Executive of any material agreement between the Executive and the Company;
		

		
			(iii)A material failure by the Executive to comply with the Company’s written policies or rules;
		

		
			(iv)The Executive’s conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State thereof;
		

		
			(v)The Executive’s gross negligence or willful misconduct which causes material harm to the Company;
		

		
			(vi)A continued failure by the Executive to perform reasonably assigned duties after receiving written notification of such failure from the Board; or
		

		
			(vii)A failure by the Executive to cooperate in good faith with a governmental or internal 
		

		 

		

			7

		

 

		investigation of the Company or its directors, officers or employees, if the Company has requested the Executive’s cooperation.  
		

		
			(b)Change of Control.  For all purposes under this Agreement, “Change of Control” shall mean the occurrence of:
		

		
			(i)The acquisition, by a person or persons acting as a group, of the Company's stock that, together with other stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the Company;
		

		
			(ii)The acquisition, during a 12-month period ending on the date of the most recent acquisition, by a person or persons acting as a group, of 30% or more of the total voting power of the Company;
		

		
			(iii)The replacement of a majority of the members of the Board, during any 12-month period, by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of such appointment or election; or
		

		
			(iv)The acquisition, during a 12-month period ending on the date of the most recent acquisition, by a person or persons acting as a group, of the Company's assets having a total gross fair market value (determined without regard to any liabilities associated with such assets) of 80% or more of the total gross fair market value of all of the assets of the Company (determined without regard to any liabilities associated with such assets) immediately prior to such acquisition or acquisitions.
		

		
			Notwithstanding the foregoing, a Change of Control shall not be deemed to occur unless such transaction also qualifies as an event under Treas. Reg. §1.409A-3(i)(5)(v) (change in the ownership of a corporation), Treas. Reg. §1.409A-3(i)(5)(vi) (change in the effective control of a corporation), or Treas. Reg. §1.409A-3(i)(5)(vii) (change in the ownership of a substantial portion of a corporation's assets).
		

		
			(c)Code.  For all purposes under this Agreement, “Code” shall mean the Internal Revenue Code of 1986, as amended. 
		

		
			(d)Good Reason.  For all purposes under this Agreement, “Good Reason” shall mean: 
		

		
			(i)a change in the Executive’s position with the Company that materially reduces her level of authority or responsibility;
		

		
			(ii)a reduction in the Executive’s base salary by more than 10% unless pursuant to a Company-wide salary reduction affecting all Executives proportionately; 
		

		
			(iii)relocation of the Executive’s principal workplace by more than 50 miles;
		

		
			(iv)a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Executive immediately prior to such reduction; or
		

		
			(v)a material reduction in the kind or level of employee benefits to which the Executive is entitled 
		

		 

		

			8

		

 

		immediately prior to such reduction with the result that the Executive’s overall benefits package is significantly reduced, unless such reduction is made in connection with a reduction in the kind or level of employee benefits of employees of the Company generally.
		

		
			A condition shall not be considered “Good Reason” unless the Executive gives the Company written notice of such condition within 90 days after such condition comes into existence and the Company fails to remedy such condition within 30 days after receiving the Executive’s written notice.  In addition, the Executive’s resignation must occur within 12 months after the condition comes into existence.
		

		
			(e)Involuntary Termination.  For all purposes under this Agreement, “Involuntary Termination” shall mean either (i) the Company terminates the Executive’s Employment with the Company for a reason other than Cause or Permanent Disability and a Separation occurs, or (ii) the Executive resigns her Employment for Good Reason and a Separation occurs. 
		

		
			(f)Permanent Disability.  For all purposes under this Agreement, “Permanent Disability” shall mean the Executive’s inability to perform the essential functions of the Executive’s position, with or without reasonable accommodation, for a period of at least 120 consecutive days because of a physical or mental impairment.
		

		
			(g)Proprietary Information.  For all purposes under this Agreement, “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge, data or information of the Company.  By way of illustration but not limitation, Proprietary Information includes (i) trade secrets, inventions, mask works, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know‐how, improvements, discoveries, developments, designs and techniques; and (ii) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (iii) information regarding the skills and compensation of other employees of the Company.  
		

		
			(h)Restricted Business.  For all purposes under this Agreement, “Restricted Business” shall mean the design, development, marketing or sales of software, or any other process, system, product, or service marketed, sold or under development by the Company at the time Executive’s Employment with the Company ends. 
		

		
			(i)Restricted Territory.  For all purposes under this Agreement, “Restricted Territory” shall mean any state, county, or locality in the United States in which the Company conducts business.
		

		
			(j)Separation.  For all purposes under this Employment Agreement, “Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Code.
		

		
			11.Miscellaneous Provisions.
		

		
			(a)Notice.  Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered, when delivered by FedEx with delivery charges prepaid, or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid.  In the case of the Executive, mailed notices shall be addressed 
		

		 

		

			9

		

 

		to him at the home address that she most recently communicated to the Company in writing.  In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary.
		

		
			(b)Modifications and Waivers.  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
		

		
			(c)Whole Agreement.  This Agreement and the Proprietary Information and Inventions Agreement supersede and replace any prior agreements, representations or understandings (whether oral or written and whether express or implied) between the Executive and the Company and constitute the complete agreement between the Executive and the Company regarding the subject matter set forth herein.  
		

		
			(d)Choice of Law and Severability.  This Agreement shall be interpreted in accordance with the laws of the State of New Jersey (except their provisions governing the choice of law).  If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect.  If any provision of this Agreement is rendered illegal by any present or future statute, law, ordinance or regulation (collectively the “Law”), then such provision shall be curtailed or limited only to the minimum extent necessary to bring such provision into compliance with the Law.  All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation.
		

		
			(e)No Assignment.  This Agreement and all rights and obligations of the Executive hereunder are personal to the Executive and may not be transferred or assigned by the Executive at any time.  The Company may assign its rights under this Agreement to any entity that assumes the Company’s obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to such entity.
		

		
			(f)Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
		

		 

		

			10

		

 

			
					
						 

					
					
						 

					
					
						 

				
	
					
						IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Karen Rosenberger

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						SYNCHRONOSS TECHNOLOGIES, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Stephen G. Waldis

				
	
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				

		
			 
		

		
			its duly authorized officer, as of the day and year first above written.
		

		
			 
		

		 

		

			11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}]]