Document:

Exhibit 10.3

2005
STOCK OPTION PLAN

for

NON-QUALIFIED STOCK OPTIONS

LPL INVESTMENT HOLDINGS INC.

(F/K/A BD INVESTMENT HOLDINGS INC.)

1.                                       Purpose.  The purpose of this 2005 Stock Option Plan
for Non-Qualified Stock Options (the “NSO Plan”) is to give LPL Investment
Holdings Inc.,  (f/k/a BD Investment
Holdings Inc.) and its subsidiaries (the “Company”) a competitive advantage in
attracting, retaining and motivating employees.

2.                                       Type
of Stock Options.  Options granted
under the NSO Plan shall be in the form of 
“Non-Qualified Stock Options,” which are not intended to meet the
requirements of Section 422 of the Internal Revenue Code of 1986, as amended
(the “Code”).

3.                                       Administration.  The Board of Directors of the Company (the “Board”),
or any committee the Board may designate, shall have plenary authority to
administer the NSO Plan.  All decisions
made by the Board or designated committee pursuant to the NSO Plan shall be
final and conclusive.  The Board or
designated committee may correct any defect or supply any omission or reconcile
any inconsistency in the NSO Plan or in any option agreement in the manner and
to the extent it shall deem appropriate to carry the same into effect.

4.                                       Eligibility.  All employees, officers and directors of the
Company and its subsidiaries who contribute to the management, growth and
profitability of the Company may be granted stock options under the NSO Plan at
the discretion of the Board (“Participants”).

5.                                       Form
of Option Agreements.  As a condition
to the grant of options under the NSO Plan, each Participant shall execute an
option agreement in such form as may be approved by the Board.  The terms and provisions of such option
agreements may differ among Participants. 
Such agreements shall become effective upon execution by the Company and
the Participant.  If requested by the
Company, each Participant shall enter into a shareholders’ agreement in such
form as may be determined by the Company prior to the issuance of any stock
under the NSO Plan and related option agreement.

6.                                       Stock
Subject to NSO Plan. Shares of stock reserved and available for grants
under the NSO Plan shall be 199,264 shares of common stock of the Company.  The Board may in its discretion make such
substitution or adjustments in the aggregate number and kind of shares reserved
for issuance under the NSO Plan.  Any
shares subject to an option that is forfeited, terminated, canceled or
unexercised shall again be available for grant under the 

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NSO Plan.

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7.                                       Purchase
Price.  The purchase price per share
of common stock purchasable under any option grant shall be determined by the
Board at the time of grant.

8.                                     Option
Term.  Options under this NSO Plan
shall not be exercisable more than 10 years after the date of grant.

9.                                     Adjustments.  The Board shall make or provide for a fair
and proportionate adjustment in the number, price and kind of common stock
underlying the option in order to maintain the proportional interests of the
Participants and preserve the value of the option herein granted in the event
of any recapitalization, stock split, reorganization, merger, consolidation,
spin-off, combination, repurchase, stock exchange or other transaction or event
in which shares are increased, decreased, changed into or exchanged for other
securities of the Company or of another entity. 
Any adjustment shall be made without changing the aggregate purchase
price of the option.  Fractional shares
will not be issued on account of any such adjustments.

10.                               Exercisability.  Options shall vest and become exercisable at
such time or times and subject to such terms and conditions as shall be
determined by the Board.  The Board may
at any time accelerate the vesting of any option.

11.                                 Method
of Exercise. Vested options may be exercised, in whole or in part, at any
time during the option term by giving written notice of exercise to the Company
in such form as provided by the Company. 
Notice shall be accompanied by full payment of the purchase price in a
form acceptable to the Company.  No
shares of common stock shall be issued until the Participant has made full
payment therefor and, if requested, has entered into a shareholders’ agreement
in such form as provided by the Company.

12.                                 Nontransferability.  No option granted under the NSO Plan shall be
assignable or otherwise transferable by the Participant other than (i) by will
or by the laws of descent and distribution, or (ii) pursuant to a qualified
domestic relations order, except that the Board may, in its discretion,
authorize transfer of an option in which event the transferee shall agree in
writing to be bound by the NSO Plan and any related option agreement.  The Company shall have no obligation to
provide notice to the transferee of the termination of an option due to
termination of employment, death, disability or retirement of the original
Participant.  No common stock purchased
under the NSO Plan or related option agreement shall be assignable or otherwise
transferable by the holder without the prior written consent of the Company.

13.                                 Termination.  If the employment of a Participant terminates
for any reason, any option held by that Participant may thereafter be exercised
only in accordance with the terms and conditions established by the applicable
option agreement.

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14.                                 Company
Call Option.  On receipt of written
notice of exercise, the Board may elect to cash out all or part of the portion
of the shares of common stock for which an option is being exercised.  In that event, the Board shall pay the
Participant an amount, in cash or common stock, at the discretion of the Board,
equal to the excess of the fair market value of the common stock over the
option price times the number of shares of common stock for which the option is
being exercised on the effective date of such cash-out. In the event the
Company makes an initial public offering under the Securities Act of 1933, as
amended, of any of its outstanding shares of common stock (a “Public Offering”),
the provisions of this Section 14 shall terminate upon the completion of the
Public Offering.

15.                                 Mergers,
Reorganizations and other Capital Transactions.

(a) Reorganization in Which
the Company Is the Surviving Corporation and in which there is no Change of
Control.  Subject to
Subsection (b) of this Section 15, if the Company shall be the surviving
corporation in any reorganization, merger or consolidation of the Company with
one or more other corporations in which a Change of Control (as defined in
Section 15(c) herein) does not occur, all outstanding options granted under the
NSO Plan shall pertain to and apply to the securities, cash or other property
(or any combination thereof) to which a holder of the number of shares of
common stock of the Company subject to such options would have been entitled
immediately following such reorganization, merger or consolidation, with a
corresponding proportionate adjustment of the purchase price per share so that
the aggregate purchase price thereafter shall be the same as the aggregate
purchase price of the shares subject to such options immediately prior to such
reorganization, merger or consolidation.

(b) Reorganization in Which
the Company Is Not the Surviving Corporation or in which there is a Change of
Control.  Subject to the
exceptions set forth in the last sentence of this Section 15(b), fifteen days
prior to the scheduled consummation of a Change of Control, all options
outstanding hereunder shall become immediately exercisable and shall remain
exercisable for a period of fifteen days. 
Any exercise of an option during such fifteen-day period shall be
conditioned upon the consummation of the event and shall be effective only
immediately before the consummation of the event.  Upon consummation of any Change of Control,
the NSO Plan and all outstanding but unexercised options shall terminate.  The Board shall send written notice of an
event that will result in such a termination to all individuals who hold
options not later than the time at which the Company gives notice thereof to
its stockholders.  This Section 15(b)
shall not apply to any Change of Control to the extent that (i) provision is
made in writing in connection with such Change of Control for the assumption of
the options theretofore granted, or for the substitution for such options of
new options covering the stock of a successor entity, or a parent or subsidiary
thereof, with appropriate adjustments as to the number and kinds of shares and
purchase prices, in which event the NSO Plan and options theretofore granted
shall continue in the manner and under the terms so provided or (ii) a majority
of the full Board determines that such Change of Control shall not

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trigger application of the provisions of this Section
15(b).

(c)  Definition of “Change of Control.”  For purposes of this Section 15, Change of
Control means (i) the dissolution or liquidation of the Company or a merger,
consolidation, or reorganization of the Company with one or more other entities
in which the Company is not the surviving entity, (ii) a sale of substantially
all of the assets of the Company to another entity, or (iii) any transaction
(including without limitation a merger or reorganization in which the Company
is the surviving entity) which results in any person or entity (other than
persons who are stockholders or affiliates of the Company at the time the NSO
Plan is approved by the Company’s stockholders) owning 50% or more of the
combined voting power of all classes of stock of the Company.

16.                                 Term.  The NSO Plan will terminate 10 years after
the effective date thereof. Under the NSO Plan, granted stock options
outstanding as of such date shall not be affected or impaired by the
termination of the NSO Plan.

17.                                 Amendment.  The Board may amend, alter, or discontinue
the NSO Plan in its discretion.  If the
NSO Plan is discontinued, granted stock options outstanding as of the date of
such discontinuation shall not be affected or impaired.

18.                                 General
Provisions.

(a)                                  The
Board may require each person purchasing or receiving shares pursuant to an
option grant to represent to and agree with the Company in writing that such
person is acquiring the shares without a view to the distribution thereof.  The certificates for such shares, if any, may
include any legend which the Board deems appropriate to reflect any
restrictions on transfer.

(b)                                 Nothing
contained in the NSO Plan shall prevent the Company or its subsidiaries from
adopting other or additional compensation arrangements for its employees,
officers and directors.

(c)                                  Adoption
of the NSO Plan shall not confer upon any employee any right to continued
employment, nor shall it interfere in any way with the right of the Company or
its subsidiaries to terminate the employment of any employee at any time.

(d)                                 The
NSO Plan and all options granted and actions taken thereunder shall be governed
by and construed in accordance with the laws of the State of Delaware, without
reference to principles of conflict of laws that would direct the application
of the laws of any other jurisdiction.

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19.                                 Effective
Date of NSO Plan.  The NSO Plan shall
be effective as of the date it is approved by a majority of the outstanding
voting shares of common stock of the Company.

20.                                 Blue
Sky Provisions.  Notwithstanding the
foregoing sections, any option granted under the NSO Plan shall comply with
applicable state blue sky regulations.

 6Exhibit 10.4

AGREEMENT

THIS EXECUTIVE EMPLOYMENT
AGREEMENT (this “Agreement”) is entered into this 28th day of December,
2005, by and between Mark S. Casady (the “Executive”) and LPL Holdings,
Inc. (the “Company”) to be effective upon the Closing (as defined
below).

WHEREAS, BD Investment
Holdings Inc. (“Holdings”), BD Acquisition Inc. (“Merger Sub”)
and the Company have entered into an agreement captioned “Agreement and Plan of
Merger,” dated as of October 27, 2005 (the “Merger Agreement”), pursuant
to which Merger Sub will be merged with and into the Company (the “Merger”);
and

WHEREAS, in accordance
with the foregoing, the Company and the Executive desire to enter into this
Agreement to set forth the terms of the Executive’s continued employment with
the Company, effective as of the consummation of the Merger (the “Closing”).

NOW, THEREFORE, in
consideration of the foregoing premises and the mutual promises, terms,
provisions and conditions set forth in this Agreement, the parties hereby
agree:

1.             Employment.
Subject to the terms and conditions set forth in this Agreement, the Company
hereby agrees to continue to employ the Executive, and the Executive hereby
accepts the terms of continued employment with the Company.

2.             Term. Subject
to earlier termination as hereafter provided, the Executive’s employment
hereunder shall have an original term of three (3) years commencing on the date
of the Closing (the “Initial Term”) and shall automatically be renewed
thereafter for successive terms of one year each, unless the Company provides
notice to the Executive at least ninety (90) days prior to the expiration of
the Initial Term or any renewal term that the Agreement is not to be renewed,
in which event this Agreement and the Executive’s employment hereunder shall
terminate at the expiration of the then-current term. The term of this
Agreement, as from time to time renewed, is hereafter referred to as “the term
of this Agreement” or “the term hereof.” In the event that the Closing does not
occur, this Agreement shall be void ab initio and
of no force or effect.

3.             Capacity and
Performance.

a.             During the term
hereof, the Executive shall serve the Company as its President and Chief
Executive Officer, reporting to the Board of Directors of the Company (the “Board”).

b.             During the term of
this Agreement, the Company shall take all steps within its authority to ensure
that the Executive is elected and remains a member of the Board and, until the
occurrence of an IPO (as defined in Section 12 below), the Chairman of the Board.
The Company shall consult with the Executive and permit the Executive to
actively participate in the recruitment and selection of all Board members. The
Company also shall consult with the Executive with respect to the size of the
Board and the number of Board members who are independent.

c.             During the term
hereof, the Executive shall be employed by the Company on a full-time basis and
shall have such duties, authority and responsibilities as are commensurate with
his position and such other duties, consistent with his position, as may be
designated from time to time by the Board.

d.             During the term
hereof, the Executive shall devote his full business time and his best efforts
to the discharge of his duties and responsibilities hereunder; provided,
however, that, subject to Section 8 hereof, the foregoing shall not be
construed to prevent the Executive from attending to personal investments and
community and charitable service, provided that such activities do not
unreasonably interfere with the performance of Executive’s duties to the
Company. In addition, the Executive may serve on boards of directors and
similar governing bodies, and committees thereof, subject to the approval of
the Board, which approval shall not be unreasonably withheld, and subject to
Section 8 hereof. Notwithstanding the foregoing, the Executive may continue to
serve on those boards and committees on which the Executive was serving at the
time of the Closing, which boards and committees are listed on Schedule 1(A) of
this Agreement.

4.             Compensation and
Benefits. As compensation for all services performed by the Executive
during the term hereof:

a.             Base Salary.
During the term hereof, the Company shall pay the Executive a base salary at
the rate per annum as set forth on Schedule 1(B) of this Agreement,
payable in accordance with the regular payroll practices of the Company for its
executives and subject to increase from time to time by the Board (or its
compensation committee). The Executive’s base salary may only be decreased with
the approval of the Executive and then only in an across-the-board salary
reduction in which all executives and other employees are subject to an equal
percentage reduction. The Executive’s base salary, as from time to time
increased or decreased in accordance with Agreement, is hereafter referred to
as the “Base Salary.”

b.             Bonus Compensation.

i.              The Executive shall
be eligible to receive a full bonus, without pro-ration, for calendar year
2005, determined in accordance with the Company’s employee cash bonus plan as
in effect immediately prior to the Closing, as set forth in Schedule 1(C)
hereto.

ii.             Each calendar year
thereafter during the term hereof, the Executive shall be eligible to
participate in the cash bonus plan in effect for employees of the Company
generally, under which, subject to the next sentence, the plan elements
described in clauses (A) and (C) below shall be not be decreased from those
applicable to the Executive under the bonus plan in effect immediately prior to
the Closing, and the plan element described in clause (B) below shall be
substantially consistent with past practice: (A) the target bonus, (B) the
level of performance required to reach target and (C) the opportunity to earn
bonus compensation in excess of target, with respect to clauses (A) and (C) as
set forth on Schedule (D) hereto. 
Neither the Executive’s target bonus nor the opportunity to earn bonus
compensation in excess of target may be subject to an adverse change and the
level of performance required to reach target may not be materially adversely
changed except with the approval of Mark S. Casady and then only in an
across-the-board change which affects equally all employees participating in
the bonus

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plan. Such cash bonus shall be in addition to
the Base Salary. The Executive’s target bonus under the executive cash bonus
plan is referred to hereafter as the “Target Bonus.” In clarification of
the foregoing, the actual bonus earned by the Executive for any given calendar
year, may be below, at or above the Target Bonus, based on actual performance.
Subject to any effective deferral election made available and elected by the
Executive, each bonus earned by the Executive hereunder shall be paid no later
than March 15 of the calendar year following the end of the calendar year for
which the bonus was earned.

c.             Stock Option
Grants. Pursuant to the following terms and conditions, the Executive shall
be eligible to participate in Holdings’ stock option plan and Holdings agrees
as follows:

i.              Holdings shall
establish a stock option plan (“Stock Option Plan”) providing for grants
of options (the “Stock Options”) to purchase the common stock of BD
Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in
amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted
post-exercise basis) in the aggregate per year for all executives, employees
and financial advisors of the Company and its subsidiaries, including the
Executive selected by the Board after consultation with, and based on the
recommendation of, the Executive, for the calendar years beginning on January
1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a
fully-diluted post-exercise basis) in the aggregate per year for all
executives, employees and financial advisors of the Company and its
subsidiaries, including the Executive, selected by the Board after consultation
with, and based on the recommendation of, the Executive for the calendar years
beginning on January 1, 2010 and January 1, 2011.

ii.             Beginning in January
2008, each annual Stock Option grant shall be made between the first and
fifteenth business day of the year, unless the Executive, in his sole
discretion, shall agree with the Board to a later date during such year (the “Default
Date”). If the Board does not approve Stock Option grants in the amounts
set forth in Section 4(c)(i) by the Default Date, then Stock Options in such
amounts shall be granted pro-rata to existing option holders and employee
stockholders as of such date of grant, except that the Executive’s share of
such Stock Option grants shall be reduced by 75% and the other four most highly
compensated executives’ share of such Stock Option grants shall be reduced by
50%.

iii.            The per share exercise
price of each Stock Option shall be equal to the Fair Market Value of a share
of Buyer Common Stock on the date of grant. Each Stock Option granted shall
vest in five equal tranches on each of the first five anniversaries of the date
of grant subject to the option holder’s continued employment as of each such vesting
date; provided, however, that all Stock Options shall automatically vest in
full upon a “change in control” (as defined in the Option Plan, it being
understood that an IPO shall in no event constitute a change in control).
Notwithstanding any provision of this Agreement to the contrary, following an
IPO, no additional Stock Options shall be granted pursuant to the Stock Option
Plan.

iv.            Upon termination of
his employment, the portion of any Stock Option granted to the Executive which
has not yet vested shall terminate. In the event the Executive’s employment
terminates for any reason other than for Cause, the Executive may

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exercise any vested portion of any Stock
Option held by him on the date of termination provided that he does so prior to
the earlier of (A) ninety (90) days following termination of employment and (B)
the expiration of the scheduled term of the Stock Option. Notwithstanding the
foregoing, if the Executive’s employment is terminated due to death or
disability (as defined in Section 5(b)), then the Executive or, as applicable
in the event of death, his beneficiary or estate, may exercise any vested
portion of any Stock Option held by the Executive on the date employment
terminates for the shorter of (A) the period of twelve (12) months following
the termination date and, (B) with respect to each Stock Option individually,
the expiration of the scheduled term of such Stock Option. Upon a termination
of the Executive’s employment by the Company for Cause, all Stock Options shall
be forfeited immediately.

v.             Holdings, the Company
and the Executive agree to cooperate to structure the Stock Option Plan so as
to minimize or avoid additional taxes and interest that would otherwise be
imposed on the Executive with respect to options granted under the Stock Option
Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”);
provided, however, that the Company shall have no obligation to
grant the Executive a “gross-up” or other “make-whole” compensation for such
purpose.

d.             Vacations.
During the term hereof, the Executive shall be eligible for the number of weeks
of vacation per year set forth on Schedule 1(E) to this Agreement,
subject to the vacation policies of the Company generally applicable to its
executives, as in effect from time to time, provided that the Executive shall
not be barred from taking up to the maximum number of weeks of vacation in any
given year solely by reason of the Executive’s failure to work for a specified
period of time during such year prior to the time of such vacation.

e.             Other Benefits.
During the term hereof, the Executive shall be entitled to participate in any
and all employee benefit plans from time to time in effect for executives
and/or employees of the Company generally, provided that the Executive
shall receive benefits pursuant to plans, programs and policies (other than any
equity based compensation plan or program) that are comparable, and no less
favorable in the aggregate, to those benefits offered to him immediately prior
to the Closing.

f.              Business Expenses.
During the term hereof, the Company shall pay or reimburse the Executive for
all reasonable business expenses incurred or paid by the Executive in the
performance of his duties and responsibilities hereunder, subject to such reasonable
substantiation and documentation as the Company may require and otherwise
consistent with the Company’s policies generally applicable to its executives,
as in effect from time to time.

5.             Termination of
Employment and Severance Benefits. Notwithstanding the provisions of
Section 2 hereof, the Executive’s employment hereunder shall terminate prior to
the expiration of the term hereof under the following circumstances:

a.             Termination due to
Death. In the event of the Executive’s death during the term hereof, the
Executive’s employment hereunder shall immediately and automatically terminate.
In such event, the Company shall pay to the Executive’s designated beneficiary
or, if no beneficiary has been designated by the Executive, to his estate, “Final
Compensation” which shall include all of the following: (i) the Base Salary
earned but not paid through the date of 

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termination, (ii) pay for any vacation time
earned but not used through the date of termination, (iii) payment of any
annual bonus earned but not paid for the year preceding that in which the date
of termination occurs, (iv) reimbursement for any business expenses incurred by
the Executive and reimbursable pursuant to Section 4(f) hereof but unreimbursed
on the date of termination (clauses (i), (ii), (iii) and (iv), collectively,
the “Termination Entitlements”); (v) a bonus for the year in which the date of
termination occurs determined by multiplying the Target Bonus for that year by
a fraction, the numerator of which is the number of days the Executive was
employed during the year in which the date of termination occurs, through the
date of termination, and the denominator of which is 365, (vi) a single
lump-sum payment equal to the premium (including the additional amount (if any)
charged for administrative costs as permitted by the Federal law known as “COBRA”)
of continued health and dental plan participation under COBRA for the Executive
(in the event of a termination other than as a result of death) and for the
Executive’s qualified beneficiaries (as that term is defined under COBRA) for
the one (1) year period immediately following the date of termination and the
Company shall have no further obligation to the Executive hereunder, other than
(A) obligations due to the Executive as of the date of termination but not yet
satisfied, such as, by way of example but not limitation, an uncorrected error
in Base Salary or an outstanding claim under one of the welfare plans or an
uncorrected error in the Executive’s retirement plan account, and (B)
obligations which, whether or not due to the Executive as of the date of
termination, survive termination, such as, by way of example but not
limitation, rights to exercise vested stock options (all of the foregoing,
under clauses (A) and (B) hereof, the “Surviving Company Obligations”).

b.             Termination due to
Disability. The Company may terminate the Executive’s employment hereunder,
upon notice to the Executive, in the event that the Executive becomes disabled
through any illness, injury, accident or condition of either a physical or
psychological nature and, as a result, is unable to perform substantially all
of his duties and responsibilities hereunder, notwithstanding the provision of
any reasonable accommodation, for any period of six (6) consecutive months.
During any period in which the Executive is disabled but prior to the Executive’s
date of termination, the Executive shall continue to receive all compensation
and benefits under Section 4 hereof while his employment continues. If any
question shall arise as to whether during any period the Executive is disabled
through any illness, injury, accident or condition of either a physical or
psychological nature so as to be unable to perform substantially all of his
duties and responsibilities hereunder, the Executive may, and at the request of
the Company shall, submit to a medical examination by a physician selected by
the Company to whom the Executive has no reasonable objection to determine
whether the Executive is so disabled and such determination shall for the
purposes of this Agreement be conclusive of the issue. In the event of
termination by the Company due to the Executive’s disability, the Company shall
provide the Executive with the Final Compensation and the Company shall have no
further obligation to the Executive hereunder, other than the Surviving Company
Obligations.

c.             Retirement.
The Executive may elect to retire voluntarily on thirty (30) days’ notice to
the Company, provided that the Executive is then at least 65 years of
age. In such event, the Company shall pay to the Executive the Final
Compensation (other than the benefits under clause (v) of the definition
thereof (the “Accrued Compensation”)) and the Company shall have no
further obligation to the Executive hereunder, other than the Surviving Company
Obligations.

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d.             Termination by the
Company for Cause. The Company may terminate the Executive’s employment at
any time for “Cause,” which shall mean only (i) the intentional failure
to perform (excluding by reason of disability) or gross negligence or willful
misconduct in the performance of regular duties or other breach of fiduciary
duty or material breach of this Agreement which remains uncured after thirty
(30) days’ notice specifying in reasonable detail the nature of the failure, negligence,
misconduct or breach and what is required of the Executive to cure, (ii)
conviction or plea of nolo contendere
to a felony or (iii) fraud or embezzlement or other dishonesty which has a
material adverse effect on the Company. Before terminating the Executive for
Cause, (A) at least two-thirds (2/3) of the members of the Board (excluding the
Executive, if a Board member) must conclude in good faith that, in their view,
one of the events described in subsection (i), (ii) or (iii) above has occurred
and (B) such Board determination must be made at a duly convened meeting of the
Board (X) of which the Executive received written notice at least ten (10) days
in advance, which notice shall have set forth in reasonable detail the facts
and circumstances claimed to provide a basis for the Company’s belief that one
of the events described in subsection (i), (ii) or (iii) above occurred and, in
the case of an event under subsection (i), remains uncured at the expiration of
the notice period, and (Y) at which the Executive had a reasonable opportunity
to make a statement and answer the allegations against the Executive. In the
event of the termination of the Executive’s employment by the Company for
Cause, the Company shall pay to the Executive the Termination Entitlements and
the Company shall have no further obligation to the Executive hereunder, other
than the Surviving Company Obligations. The parties acknowledge and agree that
this definition of “Cause” shall be applicable and controlling with respect to
the option agreements executed by the Executive under the 1999 Stock Option
Plan for Incentive Stock Options and/or 1999 Stock Option Plan for
Non-Qualified Options, pursuant to the terms of Section 14 of each such option
agreement.

e.             Termination by the
Company other than for Cause. The Company may terminate the Executive’s
employment hereunder other than for Cause at any time upon ten (10) days notice
to the Executive. Termination by the Company on or following expiration of the
term hereof (other than a termination due to the Executive’s death or
disability or under circumstances that would constitute “Cause” if this
Agreement were still in effect) will be treated as a termination other than for
Cause under this Section 5(e). In the event of termination under this Section
5(e), the Executive shall be entitled to receive (i) the Accrued Compensation,
and, (ii) subject to Executive’s continued compliance with his obligations
under Sections 6, 7 and 8 hereof, (x) an amount equal to the applicable
Severance Multiplier multiplied by the sum of the Executive’s Base Salary and
Target Bonus for the year in which the date of termination occurs (or if no
such Target Bonus has been established for the Executive for the year in which
the date of termination occurs, the Target Bonus for the year immediately
preceding the year in which the date of termination occurs) and (y) for two
years following the date of termination, continued participation of the
Executive and his qualified beneficiaries, as applicable, under the Company’s
group life, health, dental and vision plans in which the Executive was
participating immediately prior to the date of termination, subject to any
premium contributions required of the Executive at the rate in effect on the
date of termination of his employment and the Company shall have no further
obligation to the Executive hereunder, other than the Surviving Company
Obligations. For purpose of this Agreement, the “Severance Multiplier”
shall be (A) two (2) in the event of termination under Section 5(e) or Section
5(f) (other than due to Good Reason resulting solely from notice of non-renewal
of the term of this Agreement), in each case, prior to the expiration of the
Initial Term; (B) one and one half (1.5) in the event of a termination under
Section 5(e) or 

 6
 

Section 5(f), in each case, on or following
the expiration of the Initial Term; (C) one and one half (1.5) in the event of
a termination at any time during the term of this Agreement for Good Reason
resulting solely from the provision by the Company of notice of non-renewal of
the term of this Agreement; and (D) one (1) in the event of a termination of
the Executive under Section 5(g) and pursuant to which the Company makes the
election under Section 8(b) hereof. Any payments due under Section 5(e),
Section 5(f), Section 5(g) or Section 8(b), as applicable, shall be payable in
equal monthly installments over the number of years and/or portions thereof
equal to the applicable Severance Multiplier; and, subject to Section 5(h),
shall begin at the Company’s next regular payday following the effective date
of termination.

f.              Termination by
the Executive for Good Reason. The Executive may terminate his employment
hereunder for Good Reason and, in that event, subject to Executive’s continued
compliance with his obligations under Sections 6, 7 and 8 hereof, shall be
entitled to all payments and benefits which the Executive would have been
entitled to receive under Section 5(e) hereof as if termination had occurred
thereunder and the Company shall have no further obligation to the Executive
hereunder, other than the Surviving Company Obligations. “Good Reason”
shall mean only (A) the occurrence, without the Executive’s express written
consent (which may be withheld for any or no reason) of any of the events or
conditions described in the following subsections (i) through (ix), provided
that, except with respect to the event described in subsection (viii), the
Executive gives written notice to the Company of the occurrence of Good Reason
within ninety (90) days following the date on which the Executive first knew or
reasonably should have known of such occurrence and the Company shall not have
fully corrected the situation within thirty (30) days following such notice or
(B) termination (for any or no reason) by written notice from the Executive
given within the thirty day period immediately following the twelve month
anniversary of a Change of Control occurring after the effective date of this
Agreement. The following occurrences shall constitute Good Reason for purposes
of clause (A) of this Section 5(f): (i) a reduction in the Executive’s Base
Salary (other than as expressly permitted under Section 4(a) hereof); (ii) an
adverse change in the Executive’s bonus opportunity through reduction of the
Target Bonus or the maximum available bonus or a material adverse change in the
goals or level of performance required to achieve the Target Bonus (other than
as expressly permitted under Section 4(b) hereof); (iii) a failure by the
Company to pay or provide to the Executive any compensation or benefits to
which the Executive is entitled hereunder; (iv) (A) a material adverse change
in the Executive’s status, positions, titles, offices, duties and
responsibilities, authorities or reporting relationship from those in effect
immediately before such change; (B) the assignment to the Executive of any
duties or responsibilities that are substantially inconsistent with the
Executive’s status, positions, titles, offices or responsibilities as in effect
immediately before such assignment; or (C) any removal of the Executive from or
failure to reappoint or reelect the Executive to any of such positions, titles,
or offices; provided that termination of the Executive’s employment by
the Company for Cause, by the Executive other than for Good Reason pursuant to
Section 5(g) hereof, or a termination as a result of the Executive’s death or
disability shall not be deemed to constitute or result in Good Reason under
this subsection (iv); (v) (A) if the Executive was based at the Company’s
headquarter offices in Boston, Massachusetts as of the day immediately prior to
the Closing, the Company’s changing the location of such headquarter offices to
a location more than twenty-five (25) miles from the location of such offices,
or the Company’s requiring the Executive to be based at a location other than
the Company’s Boston headquarter offices; (B) if the Executive was based at the
Company’s headquarter offices in San Diego, California as of 

 7
 

the day immediately prior to the Closing, the
Company’s changing the location of such headquarter offices to a location more
than twenty-five (25) miles from the location of such offices, or the Company’s
requiring the Executive to be based at a location other than the Company’s San
Diego headquarter offices; or (C) if the Executive was not based at the Company’s
headquarter offices in Boston, the Company’s requiring the Executive to be
based at any location which results in the Executive’s regular commuting
distance being twenty-five (25) or more miles greater than the Executive’s
regular commuting distance immediately prior to such relocation; provided that
in all such cases the Company may require the Executive to travel on Company
business including being temporarily based at other Company locations as long
as such travel is reasonable and is not materially greater or different than
the Executive’s travel requirements before the Closing; (vi) any material
breach by the Company of this Agreement, the Stockholders’ Agreement, dated as
of the Closing, by and among the Company, BD Investment Holdings Inc and the
stockholder signatories thereto (the “Stockholders’ Agreement”), the
Indemnification Agreement, dated as of the Closing, by and among the Executive
and the Company (the “Indemnification Agreement”), any option agreements
entered into by and between the Company and/or Holdings and the Executive;
(vii) the failure by the Company to obtain, before completion of a Change in
Control, an agreement in writing from any successor or assign to assume and
fully perform under this Agreement; (viii) the provision of notice by the
Company of non-renewal of this Agreement; or (ix) the failure to elect the
Executive to, or the removal of the Executive from, the Board.

g.             By the Executive
Other than for Good Reason. The Executive may terminate his employment
hereunder at any time upon thirty (30) days’ notice to the Company. In the
event of termination by the Executive pursuant to this Section 5(g), the Board
may elect to waive the period of notice, or any portion thereof, and, if the
Board so elects, the Company will pay the Executive his Base Salary and
prorated Target Bonus for the notice period (or for any remaining portion of
the period). The Company shall also provide the Employee the Accrued
Compensation and the Company shall have no further obligation to the Executive
hereunder, other than the Surviving Company Obligations. At the election of the
Company, in accordance with and subject to the provisions of Section 8(b)
hereof and subject to the Executive’s continued compliance with his obligations
under Sections 6, 7 and 8 hereof, the Executive shall be entitled to all
payments and benefits which the Executive would have been entitled to receive
under Section 5(e) hereof as if termination had occurred thereunder, but with a
Severance Multiplier of one (1).

h.             Timing of Payments.
In the event that at the time the Executive employment terminates the Company’s
shares are publicly traded (as defined in Section 409A of the Code) or the
limitation on payments or provision of benefits imposed by Section
409A(a)(2)(B) would otherwise be applicable, any amounts payable or benefits
provided under Section 5 that would have been payable during the six (6) months
following the date of termination of employment with the Company and would
otherwise be considered deferred compensation subject to the additional twenty
percent (20%) tax imposed by Section 409A if paid within such six (6) month
period shall be paid, in a lump sum on the business day after the date that is
the earlier of (x) six (6) months following the date of termination, or (y) at
such time as otherwise permitted by law that would not result in such
additional taxation and penalties under Section 409A; provided, however,
that the Company shall have no obligation to grant the 

 8
 

Executive a “gross-up” or other “make-whole”
compensation for any tax imposed under Section 409A.

i.              No Duty to
Mitigate. The Executive shall not be required to mitigate the amount of any
cash payment or the value of any benefit provided for in this Agreement by
seeking other employment, by seeking benefits from another employer or other
source, or by pursuing any other type of mitigation. No payment or benefit
provided for in this Agreement shall be offset or reduced by the amount of any
cash compensation or the value of any benefit provided to the Executive in any
subsequent employment or from any other source. Notwithstanding the foregoing,
if the Executive begins to participate in the group health plan of another
employer which provides benefits substantially similar to those provided by the
Company pursuant to this Section 5, then the Executive shall promptly notify
the Company and the Company may discontinue the health plan participation being
provided the Executive pursuant to this Section 5.

6.             Confidential
Information.

a.             The Executive
acknowledges that the Company continually develops Confidential Information (as
defined in Section 12); that the Executive may develop Confidential Information
for the Company; and that the Executive may learn of Confidential Information
during the course of employment. The Executive shall not disclose to any Person
or use, other than as required by applicable law or for the performance of his
duties and responsibilities to the Company, any Confidential Information
obtained by the Executive incident to his employment with the Company. The
Executive understands that this restriction shall continue to apply after his
employment terminates, regardless of the reason for such termination.

b.             All documents,
records, tapes and other media of every kind and description containing
Confidential Information, and all copies, (the “Documents”), whether or not
prepared by the Executive, shall be the sole and exclusive property of the
Company. The Executive shall return to the Company no later than the time his
employment terminates all Documents then in the Executive’s possession or
control.

7.             Assignment of
Rights to Intellectual Property. The Executive shall promptly and fully
disclose all Intellectual Property (as defined in Section 12) to the Company.
The Executive hereby assigns and agrees to assign to the Company (or as
otherwise directed by the Company) the Executive’s full right, title and
interest in and to all Intellectual Property. The Executive agrees to execute
any and all applications for domestic and foreign patents, copyrights or other
proprietary rights and to do such other acts (including without limitation the
execution and delivery of instruments of further assurance or confirmation)
requested by the Company to assign the Intellectual Property to the Company and
to permit the Company to enforce any patents, copyrights or other proprietary
rights to the Intellectual Property. All copyrightable works that the Executive
creates in the performance of his duties hereunder shall be considered “work
made for hire.”

 9
 

8.             Restricted
Activities.

a.             While the Executive
is employed by the Company and, except as otherwise provided in Section 8(b) or
8(c) below, for the period of two (2) years following the termination of the Executive’s
employment for any reason (including retirement) or, in the event of a
termination for which the Executive is entitled to severance pay calculated
with a Severance Multiplier of 1.5, for a period of eighteen (18) months
following such termination, (as applicable, the “Non-Competition Period”),
subject to the Company’s compliance with the post-employment terms of this
Agreement, the Executive will not engage or participate in, directly or
indirectly, alone or as principal, agent, employee, employer, consultant,
investor or partner of, or assist in the management of, or provide advisory or
other services to, or own any stock or any other ownership interest in, or make
any financial investment in, any business or entity which is Competitive with
the Company (as defined below); provided,
however, that it shall not be a
violation of the foregoing (i) for the Executive to own not more than two
percent (2%) of the outstanding securities of any class of securities listed on
a national exchange or inter-dealer quotation system or (ii) following
termination of the Executive’s employment with the Company, for the Executive
to provide services to any business or entity that has a line of business,
division, subsidiary or other affiliate that is Competitive with the Company if
the Executive is not employed in such line of business or division or by such
subsidiary or other affiliate and is not involved, directly or indirectly, in
the management, supervision or operations of such line of business, division,
subsidiary or affiliate that is Competitive with the Company. For purposes of
this Agreement, a business or entity shall be considered “Competitive with the
Company” if such business or entity provides or is engaged in, at any time
during the Non-Competition Period (A) asset management, brokerage, investment
advisory and insurance services, including services related to financial
advisors for open end and closed end public mutual funds, or (B) any other
businesses in which the Company and its subsidiaries were engaged, or any
material products and/or services that the Company or its subsidiaries were
actively developing or designing, in each case under this clause (B) as of the
date the Executive’s employment with the Company terminated, provided that,
prior to such termination, the Executive knew of such other business or such
material product or such service under active development or design. In
addition, during the Non-Competition Period, the Executive will not (other than
when acting on behalf of the Company during the Executive’s employment) (i)
solicit, or attempt to solicit, any existing or prospective customers, targets,
suppliers, financial advisors, officers or employees of the Company or any of
its subsidiaries to terminate their relationship with the Company or any of its
subsidiaries or (ii) divert, or attempt to divert, from the Company or any of
its subsidiaries any of its customers, prospective customers, targets,
suppliers, financial advisors, officers or employees or (iii) hire or engage or
otherwise contract with, or attempt to hire or engage or otherwise contract
with, any officers, employees or financial advisors of the Company, whether to
be an employee, officer, agent, consultant or independent contractor; provided, however,
that nothing in this Section 8(a) shall be deemed to prohibit the
Executive from soliciting a customer, prospective customer, target or supplier
of the Company or any of its subsidiaries during the Non-Competition Period if
such action relates solely to a business which is not Competitive with the
Company. A customer, prospective customer, target, supplier, financial advisor,
officer or employee of the Company or any of its subsidiaries is any one who
was such within the preceding twelve months, excluding, however, any prospective
customer or target which was solicited solely by mass mailing or general
advertisement during that period and any officer, employee or financial advisor
whose relationship with the Company

 10
 

was terminated by the Company or any of its
subsidiaries other than for circumstances that would constitute “cause” (within
the meaning of any such definition applicable to such officer, employee or
financial advisor, or, if no such definition is applicable, “cause” as defined
in Section 14 of the form of option agreements under the 1999 Stock Option Plan
for Incentive Stock Options and/or 1999 Stock Option Plan for Non-Qualified
Options) and provided further, with respect to the Company’s subsidiaries, that
the Executive during his employment with the Company was introduced to, or
otherwise knew of or should have known of the relationship of, such customer,
prospective customer, target, supplier, financial advisor or employee to the
subsidiary.

b.             Notwithstanding
anything herein to the contrary, in the event that the Executive terminates his
employment hereunder without Good Reason, the Executive shall, at the Company’s
election, which election shall be provided to the Executive prior to the date
of termination, (1) receive the payments and benefits specified in Section 5(e)
with a Severance Multiplier of one (1) and be subject to a Non-Competition
Period which shall continue for two (2) years following the date of termination
of the Executive’s employment, or (2) receive no payments and benefits
specified in Section 5(e) and be subject to a Non-Competition Period which
shall continue for one (1) year following the date of termination of the
Executive’s employment.

c.             The Executive may
seek a waiver from the Company of his obligations pursuant to this Section 8,
which waiver shall not be unreasonably withheld or delayed. As of the date of
the grant of such waiver by the Company, all payments and benefits under the
applicable provision of Section 5 shall cease (other than the payment of Final
Compensation, excluding the payments and benefits under clause (v) of the
definition thereof which shall cease or be reimbursed by the Executive on a
pro-rata basis for the waived time period of the one (1) year Non-Competition
Period, as applicable or Accrued Compensation, as applicable).

9.             Reasonableness;
Enforcement. The Company and the Executive acknowledge that the time,
scope, geographic area and other provisions of Sections 6, 7 and 8 (the “Covenants”)
have been specifically negotiated by sophisticated parties and agree that all
such provisions are reasonable under the circumstances of the activities
contemplated by this Agreement. The Executive acknowledges and agrees that the
terms of the Covenants: (i) are reasonable in light of all of the
circumstances, (ii) are sufficiently limited to protect the legitimate
interests of the Company, (iii) impose no undue hardship, (iv) are not
injurious to the public, and (v) are essential to protect the business and
goodwill of the Company and its affiliates and are a material term of this Agreement
which has induced the Company to agree to provide for the payments and benefits
described in this Agreement and induced Holdings to enter into the Merger
Agreement. The Executive further acknowledges and agrees that the Executive’s
breach of the Covenants will cause the Company and Holdings irreparable harm,
which cannot be adequately compensated by money damages. The Executive and the
Company agree that, in the event of an actual or threatened breach of Section
8, the Company shall be entitled to injunctive relief for any actual or
threatened violation of any of the Covenants in addition to any other remedies
it may have at law or equity, including money damages.

10.           Survival.
Provisions of this Agreement shall survive any termination if so provided
herein or if necessary or desirable to accomplish the purposes of other
surviving

 11
 

provisions, including
without limitation the obligations of the Executive under Sections 6, 7, 8 and
9 hereof and the obligations of the Company pursuant to Section 5 hereof.

11.           Conflicting
Agreements. The Executive hereby represents and warrants that the execution
of this Agreement and the performance of his obligations hereunder will not
breach or be in conflict with any other agreement to which the Executive is a
party or is bound and that the Executive is not now subject to any covenants
against competition or similar covenants or any court order or other legal
obligation that would affect the performance of his obligations hereunder. The
Executive will not disclose to or use on behalf of the Company any proprietary
information of a third party without such party’s consent.

12.           Definitions.
Words or phrases which are initially capitalized or are within quotation marks
shall have the meanings provided in this Section and as provided elsewhere
herein. For purposes of this Agreement, the following definitions apply:

a.             “Change in Control”
means the consummation, after the date of Closing, of (i) any consolidation or
merger of the Company with or into any other Person, or any other corporate
reorganization, transaction or transfer of securities of the Company by its
stockholders, or series of related transactions (including the acquisition of
capital stock of the Company), whether or not the Company is a party thereto,
in which the stockholders of the Company immediately prior to such
consolidation, merger, reorganization or transaction, own, directly or
indirectly, capital stock either (A) representing directly or indirectly
through one or more entities, less than fifty percent (50%) of the equity
economic interests in or voting power of the Company or other surviving entity
immediately after such consolidation, merger, reorganization or transaction or
(B) that does not directly, or indirectly through one or more entities, have
the power to elect a majority of the entire board of directors or other similar
governing body of the Company or other surviving entity immediately after such
consolidation, merger, reorganization or transaction, (ii) any transaction or
series of related transactions, whether or not the Company is party thereto,
after giving effect to which in excess of fifty percent (50%) of the Company’s
voting power is owned directly, or indirectly through one or more entities, by
any person and its “affiliates” or “associates” (as such terms are defined in
the Exchange Act Rules) or any “group” (as defined in the Exchange Act Rules)
other than, in each case, the Company or an Affiliate of the Company
immediately following the Closing, or (iii) a sale or other disposition of all
or substantially all of the consolidated assets of the Company (each of the
foregoing, a “Business Combination”), provided that, notwithstanding the
foregoing, the following transactions shall in no event constitute a Change in
Control: (A) a Business Combination following which the individuals or entities
who were beneficial owners of the outstanding securities entitled to vote
generally in the election of directors of the Company immediately prior to such
Business Combination beneficially own, directly or indirectly, 50% or more of
the outstanding securities entitled to vote generally in the election of
directors of the resulting, surviving or acquiring corporation in such
transaction or (B) an IPO.

b.             “Confidential
Information” means any confidential proprietary information relating to the
business of the Company or its affiliates or their respective customers or
clients which has an economic value to the Company or its affiliates.
Confidential Information does not include any information that enters the
public domain other than through a breach by

 12
 

the Executive of his duties to the Company
hereunder or which is obtained by the Executive from a third party which has no
obligation of confidentiality to the Company.

c.             “Fair Market Value”
means, as of any date, the Board of Directors’ good faith determination of the
fair market value, taking into an account the most recent annual valuation
(which shall be required to be conducted by an independent appraiser at least
annually) and updated by the Company in good faith for the most recently ended
quarter.

d.             “Initial Public
Offering” or “IPO” means the initial offering of stock to the public by the
Company or stockholders of the Company or Holdings requiring registration under
the Securities Act.

e.             “Intellectual
Property” means any invention, formula, process, discovery, development,
design, innovation or improvement (whether or not patentable or registrable
under copyright statutes) made, conceived, or first actually reduced to
practice by the Executive solely or jointly with others, during his employment
by the Company; provided, however, that, as used in this Agreement, the term “Intellectual
Property” shall not apply to any invention that the Executive develops on his
own time, without using the equipment, supplies, facilities or trade secret
information of the Company, unless such invention relates at the time of
conception or reduction to practice of the invention (a) to the business of the
Company, (b) to the actual or demonstrably anticipated research or development
of the Company or (c) results from any work performed by the Executive for the
Company.

f.              “Person”
means an individual, a corporation, a limited liability company, an
association, a partnership, an estate, a trust and any other entity or
organization, other than the Company or any of its subsidiaries.

13.           Withholding. All
payments, or other benefits, to the extent required by law, made by the Company
under this Agreement shall be reduced by any tax or other amounts required to
be withheld by the Company under applicable law.

14.           Legal Fees. The
Company shall at its election either pay directly the joint legal expenses
incurred by the Executive and the other executives of the Company with whom the
Company is entering into employment agreements effective as of the Closing in
the negotiation and preparation of their employment agreements or reimburse the
Executive for his portion of such joint legal expenses. In addition, all
reasonable costs and expenses that are reasonably documented (including court
and arbitration costs and reasonable legal fees and expenses that reflect
common practice with respect to the matters involved) incurred by the Executive
as a result of any claim, action or proceeding arising out of this Agreement or
the contesting, disputing or enforcing of any provision; right or obligation
under this Agreement shall be paid, or reimbursed to the Executive, if, in the
final resolution of the dispute, the Executive either recovers material
monetary damages (in cash or in kind, such as benefits) or is the prevailing
party on a material non-monetary claim (such as a dispute regarding a
restrictive covenant).

15.           Dispute
Resolution.

a.             Except as provided in
Section 9, any dispute, controversy or claim between the parties arising out of
this Agreement or the Executive’s employment with the 

 13
 

Company or termination of employment shall be
settled by arbitration conducted in the city in which the Executive is located
administered by the American Arbitration Association under its Employment
Dispute Resolution Rules then in effect (except as modified by b. below).

b.             In the event that a
party requests arbitration (the “Requesting Party”), it shall serve upon
the other party (the “Non-Requesting Party”), within one hundred and
eighty (180) days of the date the Requesting Party knew, or reasonably should
have known, of the facts on which the controversy, dispute or claim is based, a
written demand for arbitration stating the substance of the controversy,
dispute or claim, the contention of the party requesting arbitration and the
name and address of the arbitrator appointed by it. The Non-Requesting Party,
within sixty (60) days of such demand, shall accept the arbitrator or appoint a
second arbitrator and notify the other party of the name and address of this
second arbitrator so selected, in which case the two arbitrators shall appoint
a third who shall be the sole arbitrator to hear the case. In the event that
the two arbitrators fail in any instance to appoint a third arbitrator within
thirty (30) days of the appointment of the second arbitrator, either arbitrator
or any party to the arbitration may apply to the American Arbitration
Association for appointment of the third arbitrator in accordance with the
Rules, which arbitrator shall be the sole arbitrator to hear the case. Should
the Non-Requesting Party (upon whom a demand for arbitration has been served)
fail or refuse to accept the arbitrator appointed by the other party or to
appoint an arbitrator within sixty (60) days, the single arbitrator shall have
the right to decide alone, and such arbitrator’s decision or award shall be
final and binding upon the parties.

c.             The decision of the
arbitrator shall be in writing; shall set forth the basis for the decision; and
shall be rendered within thirty (30) days following the bearing. The decision
of the arbitrator shall be final and binding upon the parties and may be
enforced and executed upon in any court having jurisdiction over the party
against whom enforcement of such award is sought.

16.           No Withholding of
Undisputed Payments. During the pendency of any dispute or controversy, the
Company shall not withhold any payments or benefits due to the Executive,
whether under this Agreement or otherwise, except for the specific portion of
any payment’ or benefit that is the subject of a bona fide dispute between the
parties.

17.           Assignment.
Neither the Company nor the Executive may make any assignment of this Agreement
or any interest herein, by operation of law or otherwise, without the prior
written consent of the other. This Agreement shall inure to the benefit of and
be binding upon the Company and the Executive, their respective successors,
executors, administrators, heirs and permitted assigns.

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

 14
 

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

20.           Notices. Any and
all notices, requests, demands and other communications provided for by this
Agreement shall be in writing and shall be effective when delivered in person
or the next business day following consignment for overnight delivery to a
reputable national overnight courier service or five business days following
deposit in the United States mail, postage prepaid, registered or certified,
and addressed to the Executive at his last known address on the books of the
Company or, in the case of the Company, at its principal place of business,
attention of the Chairman of the Board, or to such other address as a party may
specify by notice to the other actually received. Copies of any notices,
requests, demands and other communication to the Company by the Executive shall
be sent by the to the Investors at the following address: c/o Texas Pacific
Group, 301 Commerce Street, Suite 3300, Fort Worth, TX 76102, Attn: Richard
Schifter (Fax: 415-743-1501) and c/o Hellman & Friedman LLC, One Maritime
Plaza, 12th Floor, San Francisco, CA 94111, Attn: Jeffrey Goldstein (Fax:
415-835-5408)

21.           Entire Agreement.
This Agreement and the Indemnification Agreement constitute the entire agreement
between the parties and supersede all prior communications, agreements and
understandings, written or oral, with respect to the terms and conditions of
the Executive’s employment including without limitation the Management
Arrangements — Summary of Key Terms.

22.           Amendment. This
Agreement may be amended or modified only by a written instrument signed by the
Executive and by an authorized representative of the Company subject to prior
approval by the Board.

23.           Headings. The
headings and captions in this Agreement are for convenience only and in no way
define or describe the scope or content of any provision of this Agreement.

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

25.           Governing Law.
This is a Massachusetts contract and shall be construed and enforced under and
be governed in all respects by the laws of the Commonwealth of Massachusetts,
without regard to the conflict of laws principles thereof.

[Remainder of page
intentionally left blank]

 15

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

	
  THE EXECUTIVE

  	
  THE COMPANY

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ Mark S.
  Casady

  	
   

  	
  By:

  	
  /s/ Stephanie L. Brown

  	
   

  
	
   

  	
  Name:  Mark S.
  Casady

  	
   

  	
  Name:  Stephanie
  L. Brown

  
	
   

  	
   

  	
   

  	
  Title:  Secretary

  
						

 

In addition, BD Investment Holdings Inc. agrees to be
bound by the terms of Section 4(c) of the Employment Agreement which is
expressly applicable to BD Investment Holdings Inc.

	
  BD INVESTMENT HOLDINGS INC.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ Allen R.
  Thorpe

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Allen R. Thorpe

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
						

 

 16

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