Document:

Prepared by R.R. Donnelley Financial -- EX-10.23

 Exhibit 10.23 

ESCROW AGREEMENT 
 This
Escrow Agreement (the “Agreement”) is made as of September 30, 2014, by and among U.S. Bank National Association (“Escrow Agent”), Good Technology Corporation, a Delaware corporation (the
“Company”) and U.S. Bank National Association, as trustee (in such capacity and together with any successors in such capacity, the “Trustee”). 

WHEREAS, this Agreement is being entered into in connection with (i) the Purchase Agreement (the “Purchase Agreement”),
dated September 24, 2014, by and among the Company, certain subsidiaries of the Company, and Oppenheimer & Co. Inc., as initial purchaser thereunder (the “Initial Purchaser”), and (ii) the Indenture, dated as of
the date hereof (the “Indenture”), among the Company, the Guarantors named therein and the Trustee, governing the Company’s 5% Senior Secured Notes due 2017 (the “Notes”); 

WHEREAS, pursuant to the Company’s final Offering Memorandum, dated September 24, 2014 (the “Offering Memorandum”),
the Company has offered and will issue and sell on the date hereof (the “Issue Date”) 80,000 units, with each unit consisting of Notes in $1,000 principal amount and Warrants to purchase 203.252 shares of the Company’s Common
Stock, for a total offering of Notes in the aggregate principal amount of $80,000,000 and Warrants to purchase up to an aggregate of 16,260,160 shares of the Company’s Common Stock (the “Offering”); and 

WHEREAS, in connection with the issuance and sale of the Notes pursuant to the Indenture, the parties have agreed to enter into this Agreement
to place in escrow certain funds and to set forth the conditions upon which, and the manner in which, funds will be held by the Escrow Agent, disbursed from the Pledged Account (as defined below) and released from the security interest and lien
hereinafter described. 
 NOW, THEREFORE, it is mutually agreed as follows: 

ARTICLE ONE 
 ESCROW DEPOSIT 

Section 1.01 Appointment of Escrow Agent; Escrow Property; Grant of Security Interest. 

(a) The Company and the Trustee hereby appoint the Escrow Agent as escrow agent, securities intermediary and depositary bank hereunder in
accordance with the terms and conditions set forth in this Agreement and the Escrow Agent hereby accepts such appointment. Concurrently with the execution and delivery hereof, (i) the Initial Purchaser has, on behalf of the Holders of the
Notes, caused to be deposited by wire transfer in accordance with the instructions on Schedule 2 into a trust account maintained at the Escrow Agent (211798001 , and the account name “Good Technology Escrow Acct.”) (such account referred
to as the “Pledged Account”), cash in the amount of $12,000,000, which amount is equal to 15% the gross proceeds from the Offering (the “Initial Deposit”) with the Escrow Agent into the Pledged Account. 

 (b) The Escrow Agent shall accept the Initial Deposit and shall hold the Initial Deposit and the
proceeds thereof in the Pledged Account for disbursement in accordance with the provisions hereof. The Pledged Account shall be under the control (within the meaning of Sections 8-106, 9-104 and 9-106 of the UCC) of the Trustee and, subject to the
provisions of this Agreement, the Escrow Agent shall comply with all entitlement orders and instructions given by the Trustee (in its capacity as a secured party) directing the disposition of the Escrow Property (as defined below) without further
consent of the Company or any other person. So long as no Event of Default exists under the Indenture, the Escrow Agent shall honor instructions issued by the Company in accordance with Sections 1.02, 1.03 and 1.04 hereof. The
Trustee agrees not to deliver any entitlement orders or instructions except as permitted by Section 1.03(d) hereof. Each party hereto confirms that the arrangements established above constitute “control” (as defined in Sections
8–106 and 9–104 of the UCC) by the Trustee of the Pledged Account. The Escrow Agent and the Company have not entered, and shall not enter into any other agreement with respect to control of the Pledged Account or purporting to limit or
condition the obligation of the Escrow Agent to comply with any entitlement orders or instructions with respect to the Pledged Account or the Escrow Property as set forth in this Section 1.01(b). 

 

	 	(i)	As security for the due and punctual payment of all obligations that may become due in respect of the Notes (including, without limitation, the payment of 100% of the Initial Deposit), the Company hereby pledges,
assigns and grants to the Trustee, for the benefit of the Holders of the Notes, a continuing security interest in, and a lien on, the Pledged Account and the Escrow Property credited thereto and all the proceeds thereof, whether now owned or
existing or hereafter acquired or arising (such security interest and lien, the “Trustee’s Security Interest”). The Trustee’s Security Interest shall at all times be valid, perfected and enforceable as a first-priority
security interest by the Trustee against the Company and all third parties in accordance with the terms of this Agreement. 

  

	 	(ii)	The Company agrees to file all financing statements and take all commercially reasonable steps as are necessary in connection with the perfection of the Trustee’s Security Interest. The Company hereby authorizes
the filing of any financing statements in any jurisdiction and in any filing office as necessary or advisable to perfect the Trustee’s Security Interest, and such financing statements may describe the collateral as “all assets” or in
the same manner described herein or in any other manner as necessary or advisable to ensure perfection of the Trustee’s Security Interest. 

  

	 	(iii)	Upon the release of any Escrow Property pursuant to Section 1.03 hereof, the Trustee’s Security Interest in the released Escrow Property shall automatically terminate without any further action. In
connection with such automatic termination, the Company shall take all steps necessary to terminate any financing statements and the Trustee shall execute such other documents without recourse, representation or warranty of any kind as the Company
shall reasonably request and otherwise cooperate, at the Company’s expense, with the Company to evidence or confirm the termination of the Trustee’s Security Interest in the released Escrow Property. 

  
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 The Initial Deposit, the Pledged Account and all funds, securities or other
property now or hereafter credited to the Pledged Account, plus all interest, dividends, investment property, and other distributions and payments on or proceeds of any of the foregoing (collectively the “Distributions”) received by
the Escrow Agent are collectively referred to herein as “Escrow Property.” 
 (c) The Company represents and warrants to the
Trustee that (i) it was duly incorporated and is validly existing as a Delaware corporation and (ii) this Agreement has been duly authorized, executed and delivered on its behalf and constitutes its legal, valid and binding obligation,
subject to (A) bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances, fraudulent
transfers, and preferential transfers) or other similar laws now or hereafter in effect relating to creditors’ rights generally, (B) the exercise of judicial discretion and the application of principles of equity, good faith, fair dealing,
reasonableness, conscionability and materiality (whether applied in a proceeding in equity or at law) and (C) federal and state securities laws and public policy considerations. 

(d) The Escrow Agent represents and warrants to the Company and the Trustee that (i) it is and has all power and authority to act as a
securities intermediary, as defined in Section 8-102 of the UCC, and it is and has all power and authority to act as a bank, as defined in Section 9-102 of the UCC, and (ii) this Agreement has been duly authorized, executed and
delivered on its behalf and constitutes its legal, valid and binding obligation, subject to (A) bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation, the
effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers, and preferential transfers) or other similar laws now or hereafter in effect relating to creditors’ rights generally, (B) the exercise of judicial
discretion and the application of principles of equity, good faith, fair dealing, reasonableness, conscionability and materiality (whether applied in a proceeding in equity or at law) and (C) federal and state securities laws and public policy
considerations. 
 (e) The Trustee represents and warrants to the Company that this Agreement has been duly authorized, executed and
delivered on its behalf and constitutes its legal, valid and binding obligation, subject to (i) bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation, the
effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers, and preferential transfers) or other similar laws now or hereafter in effect relating to creditors’ rights generally, (ii) the exercise of judicial
discretion and the application of principles of equity, good faith, fair dealing, reasonableness, conscionability and materiality (whether applied in a proceeding in equity or at law) and (iii) federal and state securities laws and public
policy considerations. 
 Section 1.02 Investments. 

(a) The Escrow Agent is authorized and directed to deposit, transfer, hold and invest the Escrow Property and any investment income thereon as
set forth in Exhibit A hereto, 

  
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or as set forth in any subsequent written instruction signed by the Company. Absent its timely receipt of instructions from the Company, the Escrow Agent shall have no duty to invest (or
otherwise pay interest on) the Escrow Property and the Escrow Property shall remain uninvested in cash. With respect to any Escrow Property received by Escrow Agent after 10:00 a.m., New York City time, Escrow Agent shall not be required to invest
such funds or to effect any investment instruction until the next Business Day. For purposes of this Agreement, “Business Day” shall mean any day that the Escrow Agent is open for business. Any investment earnings and income on the
Escrow Property shall become part of the Escrow Property, and shall be disbursed in accordance with Section 1.03 or Section 1.05 of this Agreement. The Escrow Agent hereby agrees to treat the Initial Deposit, any such investment and any
Distributions thereon as financial assets within the meaning of Section 8-102(a)(9) of the UCC. 
 (b) The Escrow Agent is hereby
authorized and directed to sell or redeem any such investments to make any payments or distributions required under this Agreement. The Escrow Agent shall have no responsibility or liability for any loss, fee, tax, penalty or other charge which may
result from any investment, reinvestment, sale or liquidation of investment made pursuant to this Agreement, unless such loss, fee, tax, penalty or other charge results from the Escrow Agent’s bad faith, gross negligence or willful misconduct.
The Escrow Agent is hereby authorized, in making or disposing of any investment permitted by this Agreement, to deal with itself (in its individual capacity) or with one or more of its affiliates, whether it or any such affiliate is acting as agent
of the Escrow Agent or for any third person or dealing as principal for its own account. The Company acknowledges that the Escrow Agent is not providing investment supervision, recommendations or advice. The Escrow Agent shall be under no duty to
afford the Escrow Property any greater degree of care than it gives its own similar property. 
 Section 1.03
Disbursements. 
 The Escrow Agent is directed to hold and distribute the Escrow Property in the following manner: 

(a) [RESERVED] 
 (b) [RESERVED]

 (c) [RESERVED] 
 (d) If an
Interest Payment Date (as defined in the Indenture) on the Notes shall occur while Escrow Property is on deposit in the Pledged Account, then no less than five Business Days prior to the Interest Payment Date, the Company shall provide the Escrow
Agent an Officer’s Certificate (as defined in the Indenture) setting forth the amount of interest due on the Notes on such Interest Payment Date (as calculated in accordance with the terms of the Indenture), and then the Escrow Agent shall
(i) two Business Days prior to such Interest Payment Date and upon receipt of such Officer’s Certificate, liquidate an amount of the Escrow Property sufficient to pay the interest then due on the Notes (as calculated in accordance with the
terms of the Indenture) and (ii) no later than 10:00 A.M. (New York time) on such Interest Payment Date release such cash amount to the Trustee for payment of such interest on the Notes. 

  
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 (e) If the Escrow Agent receives a written notice from the Trustee that the aggregate principal
amount of and accrued and unpaid interest on the Notes has become immediately due and payable pursuant to Section 6.02 of the Indenture, the Escrow Agent shall liquidate all Escrow Property then held by it, and the Escrow Agent shall, after
deducting any reasonable documented out-of-pocket fees due itself and its counsel, release (x) to the Trustee any reasonable and documented out-of-pocket fees and expenses of the Trustee owing to the Trustee and (y) to the Paying Agent for
payment to the Holders of the Notes the amount of Escrow Property sufficient to pay the accelerated aggregate principal amount of, and accrued and unpaid interest on, the Notes within one business day after receipt of such written notice.
Immediately following such releases, the Escrow Agent shall release any Escrow Property that remains in the Pledged Account as directed in written instructions from the Company. 

(f) Upon satisfaction and discharge of the Indenture pursuant to Article VIII or XII thereof, the Trustee shall provide written
notice to the Escrow Agent that the Company’s obligations under the Indenture has been satisfied and discharged in full, and the Escrow Agent shall, upon receipt of such notice, release any Escrow Property that remains in the Pledged
Account as directed in written instructions from the Company. 
 (g) Any disbursements made pursuant to Section 1.03(d), (e) or
(f) shall be made by wire transfer or via internal transfer in immediately available funds to the accounts specified on the attached Schedule 2. 

(h) Upon the release of any Escrow Property as directed by the Company, pursuant to this Section 1.03 hereof, such released Escrow
Property shall be delivered to the recipient, free and clear of any and all claim or interest of the Escrow Agent, the Trustee and the Holders of the Notes. Upon any release of any Escrow Property to the Paying Agent for distribution to the Holders
of the Notes pursuant to Section 1.03(d) or (e) hereof, the Escrow Property released in accordance with those sections shall be delivered to the recipients identified therein free and clear of any and all claim or interest of
the Company or the Escrow Agent. 
 (i) The Escrow Agent agrees to accept and act upon instructions or directions pursuant to this Escrow
Agreement sent by unsecured e-mail, PDF, facsimile transmission or other similar unsecured electronic methods. Attached as Part A of Schedule 1 hereto and made a part hereof is a list of those persons entitled to give notices, instructions,
directions and other communications to the Trustee and/or the Escrow Agent on behalf of the Company hereunder. The Escrow Agent shall confirm each funds transfer instruction received in the name of the Company by means of the security procedures as
set forth in Part B of Schedule 1 hereto. 
 (j) Once delivered to the Escrow Agent, Schedule 1 may be revised or rescinded only by a notice
in writing signed by an authorized representative of the Company. Such revisions or rescissions shall be effective only after actual receipt. If a revised Schedule 1 or a rescission of an existing Schedule 1 is delivered to the Escrow Agent by an
entity that is a successor-in-interest to the Company, such document shall be accompanied by additional documentation reasonably satisfactory to the Escrow Agent showing that such entity has succeeded to the rights and responsibilities of the
Company under this Escrow Agreement. 

  
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 (k) The parties hereto understand that the Escrow Agent’s inability to receive or confirm
transfer instructions pursuant to the security procedure selected by such party may result in a delay in accomplishing such funds transfer, and agree that the Escrow Agent shall not be liable for any loss caused by any such delay. 

(l) All disbursements of funds from the Escrow Property shall be subject to the fees and claims of Escrow Agent pursuant to Sections
3.01 and 3.02 hereof. 
 Section 1.04 Income Tax Allocation and Reporting. 

(a) The Company agrees that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the
end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by the Company, whether or not such income was disbursed during such calendar year. 

(b) Prior to closing, the Company shall provide the Escrow Agent with certified tax identification numbers by furnishing appropriate forms W-9
or W-8 and such other forms and documents that the Escrow Agent may reasonably request. The Company understands that if such tax reporting documentation is not provided and certified to the Escrow Agent, the Escrow Agent may be required by the
Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder, to withhold a portion of any interest or other income earned on the investment of the Escrow Property. 

(c) To the extent that the Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of the
Escrow Property, the Escrow Agent shall satisfy such liability to the extent possible from the Escrow Property. The Company shall indemnify, defend and hold the Escrow Agent harmless from and against any tax, late payment, interest, penalty or other
cost or expense that may be assessed against the Escrow Agent on or with respect to the Escrow Property and the investment thereof unless such tax, late payment, interest, penalty or other expense was directly caused by the bad faith, gross
negligence or willful misconduct of the Escrow Agent. The indemnification provided by this Section 1.04(c) is in addition to the indemnification provided in Section 3.02 hereof and shall survive the resignation or removal of
the Escrow Agent and the termination of this Agreement. 
 Section 1.05 Termination. 

Upon the disbursement of all of the Escrow Property, including any interest and investment earnings thereon, this Agreement shall terminate and
be of no further force and effect, except that the provisions of Sections 1.04(c), 3.01 and 3.02 hereof shall survive such termination. 

Section 1.06 Definitions. 

Capitalized terms that are used but not defined herein have the respective meanings specified in the Indenture. All references to
“UCC” shall mean the Uniform Commercial Code as in effect in the State of New York. 

  
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 ARTICLE TWO 

DUTIES OF THE ESCROW AGENT 

Section 2.01 Scope of Responsibility. 

Notwithstanding any provision to the contrary, the Escrow Agent is obligated only to perform the duties specifically set forth in this
Agreement, which shall be deemed purely ministerial in nature. Under no circumstances will the Escrow Agent be deemed to be a fiduciary to the Company or any other person under this Agreement. The Escrow Agent will not be responsible or liable for
the failure of the Company to perform in accordance with this Agreement. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of the terms and conditions of any other agreement, instrument, or document other than this
Agreement (including, without limitation, the Indenture), whether or not an original or a copy of such agreement has been provided to the Escrow Agent; and the Escrow Agent shall have no duty to know or inquire as to the performance or
nonperformance of any provision of any such agreement, instrument, or document. References in this Agreement to any other agreement, instrument, or document are for the convenience of the Company, and the Escrow Agent has no duties or obligations
with respect thereto. This Agreement sets forth all matters pertinent to the escrow contemplated hereunder, and no additional obligations of the Escrow Agent shall be inferred or implied from the terms of this Agreement or any other agreement. 

Section 2.02 Authorized Signors. 

Concurrent with the execution of this Agreement, the Company shall deliver to the Escrow Agent a list of authorized signers, together with
specimen signatures, as set forth in Part A of Schedule 1 to this Agreement. 
 ARTICLE THREE 

PROVISIONS CONCERNING THE ESCROW AGENT 

Section 3.01 Compensation. 

For services rendered hereunder, the Escrow Agent shall be entitled to such reasonable compensation as shall be agreed to in writing between
the Company and the Escrow Agent (it being hereby agreed that the compensation set forth in any fee letter between the Company and the Escrow Agent shall be deemed to be reasonable). The Company agrees to pay such compensation and to reimburse the
Escrow Agent promptly for the reasonable and documented out-of-pocket expenses (including, without limitation, attorneys’ and other professionals’ fees and expenses) incurred by it in connection with the services rendered by it hereunder.
The provisions of this Section shall survive the termination of this Agreement or the resignation or removal of the Escrow Agent. 

Section 3.02 Indemnification. 

The Company agrees to indemnify the Escrow Agent for, and to hold it harmless against, any and all loss, liability, damage, claim, cost or
expense, including attorneys’ fees and expenses 

  
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(including the costs and expenses of defending against any claim of liability, regardless of who asserts such claim), incurred by the Escrow Agent arising out of or in connection with its
appointment as Escrow Agent hereunder, except such losses, liabilities, damages, claims, costs or expenses as may result from the bad faith, gross negligence or willful misconduct of the Escrow Agent. The Escrow Agent shall incur no liability and
shall be indemnified and held harmless by the Company for, or in respect of, any actions taken, omitted to be taken or suffered to be taken in good faith by the Escrow Agent in reliance upon any signature, endorsement, assignment, certificate,
order, request, notice, instruction or other instrument or document believed to be valid and genuine. The Escrow Agent shall notify the Company, by letter or facsimile transmission, of a claim against the Escrow Agent or of any action commenced
against the Escrow Agent, promptly after the Escrow Agent shall have received written notice thereof. The Company shall be entitled to participate at its own expense in the defense of any such claim or other action and, if the Company so elects, the
Company shall assume the defense of any suit brought to enforce any such claim. In the event that the Company assumes the defense of any such suit, the Company shall not be liable for the fees and expenses of any additional counsel thereafter
retained by the Escrow Agent, so long as the Company shall retain counsel reasonably satisfactory to the Escrow Agent; provided, that the Company shall not be entitled to assume the defense of any such action if the named parties to such action
include both the Escrow Agent and the Company and representation of both parties by the same counsel would, in the opinion of the Escrow Agent’s counsel, be inappropriate due to actual or potential conflicting interests between the Escrow Agent
and the Company. For the avoidance of doubt, the Company shall be liable for the reasonable fees and expenses of Escrow Agent’s counsel in evaluating any actual or potential conflict and advising the Escrow Agent with respect thereto pursuant
to the prior sentence. The provisions of this Section shall survive the termination of this Agreement or the resignation or removal of the Escrow Agent. 

Section 3.03 Rights of Escrow Agent. 

The Escrow Agent: 
 (a) shall not
be liable for any act or omission by it unless such act or omission constitutes bad faith, gross negligence or willful misconduct; in no event shall the Escrow Agent be liable to any third party for special, punitive, indirect or consequential
damages, including but not limited to lost profits, irrespective of whether the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action arising in connection with this Agreement; 

(b) shall have no duties or obligations other than those specifically set forth herein or as may be subsequently agreed to in writing between
the Escrow Agent and the Company and the Escrow Agent shall have no liability under, and no duty to inquire as to, the provisions of any agreement other than this Agreement; 

(c) shall not be obligated to take any action hereunder which might in the Escrow Agent’s judgment involve any risk of expense, loss or
liability, unless it shall have been furnished with indemnity and/or security satisfactory to it; 

  
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 (d) may conclusively rely on and shall be protected in acting or refraining from acting upon any
certificate, instrument, opinion, notice, letter, or other document or security delivered to it and believed by it to be genuine and to have been signed or presented by the proper person or persons; 

(e) may conclusively rely on and shall be protected in acting or refraining from acting upon written instructions from the Company or the
Trustee; 
 (f) may consult with counsel of its selection, including its in-house counsel, with respect to any questions relating to its
duties and responsibilities and the advice or opinion of such counsel, or any opinion of counsel to the Company provided to the Escrow Agent shall be full and complete authorization and protection in respect of any action taken, suffered or omitted
to be taken by the Escrow Agent hereunder in accordance with the advice or opinion of such counsel; and 
 (g) may perform any duties
hereunder either directly or by or through agents and attorneys and the Escrow Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

Section 3.04 Waiver of Set-off. 

The Escrow Agent (i) agrees that any security interest in, lien on, encumbrance, claim or right of set-off against, any Escrow Property it
now has or subsequently obtains shall be subordinate to the security interest of the Trustee, as secured party, in the Escrow Property, and (ii) agrees not to exercise any present or future right of recoupment or set-off against the Pledged
Account or to assert against the Pledged Account any present or future security interest, banker’s lien or any other lien or claim (including claim for penalties) that it may at any time have as securities intermediary or depositary bank
against or in any of the Pledged Account or any Escrow Property therein or credited thereto (including Section 9-340(a) of the UCC). 

Section 3.05 Disagreements. 

If, at any time, (a) there shall exist any dispute with respect to the holding or disposition of all or any portion of the Escrow
Property or any other obligations of the Escrow Agent hereunder or (b) the Escrow Agent is in doubt as to the action to be taken hereunder, the Escrow Agent is authorized to retain the Escrow Property until (i) such dispute or uncertainty
shall be resolved to the satisfaction of the Escrow Agent in its sole discretion or (ii) the Escrow Agent files an interpleader action in any court of competent jurisdiction, and upon the filing thereof, the Escrow Agent shall be relieved of
all liability as to the Escrow Property and shall be entitled to recover attorneys’ fees, expenses and other costs incurred in commencing and maintaining any such interpleader action. The Escrow Agent shall be entitled to act on any court order
or arbitration decision without further question, inquiry or consent. The Escrow Agent shall have no liability to the Company or any other person with respect to any suspension of performance or disbursement into court, specifically including any
liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of the Escrow Property or any delay in or with respect to any other action required or requested of Escrow Agent.

  
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 Section 3.06 Attachment of Escrow Property; Compliance with Legal
Orders. 
 In the event that any Escrow Property shall be attached, garnished or levied upon by any court order, or the delivery thereof
shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order affecting the Escrow Property, the Escrow Agent is hereby expressly authorized, in its sole discretion, to respond as it
deems appropriate or to comply with all writs, orders or decrees so entered or issued, or which it is advised by legal counsel of its own choosing is binding upon it, whether with or without jurisdiction. In the event that the Escrow Agent obeys or
complies with any such writ, order or decree, it shall not be liable to the Company or to any other person, firm or corporation, should, such compliance notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set
aside or vacated. To the extent permissible by law, in the event that the Escrow Agent obeys or complies with any such writ, order or decree, it shall provide prompt notice to the Company of any such action. 

Section 3.07 Removal and Resignation. 

(a) The Trustee (at the direction of the Holders of a majority in aggregate principal amount of the Notes) may remove the Escrow Agent at any
time by giving to the Escrow Agent and Company thirty (30) calendar days’ prior notice in writing. The Escrow Agent may resign at any time by giving to the Company and the Trustee thirty (30) calendar days’ prior written notice
thereof. 
 (b) Within thirty (30) calendar days after receiving any notice of removal or notice of resignation from the Trustee or the
Escrow Agent, the Company shall appoint a successor Escrow Agent reasonably acceptable to the Trustee. The Company shall cause any successor Escrow Agent to assume the obligations of the Escrow Agent hereunder or to enter into such other Escrow
Agreement as may be reasonably acceptable to the Trustee. If a successor Escrow Agent has not accepted such appointment by the end of such 30-day period, the Escrow Agent may apply to a court of competent jurisdiction for the appointment of a
successor Escrow Agent or for other appropriate relief. The reasonable and documented costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Escrow Agent in connection with such proceeding shall be reimbursed by
the Company. 
 (c) Upon receipt of the identity of the successor Escrow Agent, the Escrow Agent shall deliver the Escrow Property then held
hereunder to the successor Escrow Agent. Upon delivery of the Escrow Property to the successor Escrow Agent, the Escrow Agent shall have no further duties, responsibilities or obligations hereunder. 

  
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 ARTICLE FOUR 

MISCELLANEOUS 

Section 4.01 Merger, Consolidation. 

Any entity into which the Escrow Agent may be merged or which it may be consolidated, or any entity resulting from any merger, conversion or
consolidation to which the Escrow Agent shall be a party, or any entity succeeding to all or substantially all the escrow or corporate trust business of the Escrow Agent shall be the successor Escrow Agent hereunder without the execution or filing
of any paper or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding. 

Section 4.02 Escheat. 

The Parties are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the
appropriate state. The Escrow Agent shall have no liability to the Company, its heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Property be subject to escheat. 

Section 4.03 Notices. 

Unless otherwise provided herein, all notices, requests and other communications to any party hereunder shall be in writing (including
facsimile and electronic transmission in PDF format) and shall be given to such party, addressed to it, at its address or facsimile number set forth below: 

If to the Company: 

Good Technology Corporation 

430 N. Mary Avenue, Suite 200 

Sunnyvale, CA 94085 

Attention: Senior Vice President and General Counsel 

Fax No: (408) 212-7505 

with a copy to: 

Wilson Sonsini Goodrich & Rosati, P.C 

650 Page Mill Road 

Palo Alto, CA 94304-1050 

Telephone No: (650) 493-9300 

Fax No: (650) 493-6811 

  
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 If to the Escrow Agent: 

U.S. Bank National Association 

Corporate Trust Services 

633 West 5th Street, 24th Floor 

LM-CA T24T 

Los Angeles, CA 90071 

Attention: Global Corporate Trust Services 

Facsimile No.: (213) 615-6197 

If to the Trustee: 

U.S. Bank National Association 

Corporate Trust Services 

633 West 5th Street, 24th Floor 

LM-CA T24T 

Los Angeles, CA 90071 

Attention: Global Corporate Trust Services 

Facsimile No.: (213) 615-6197 

Section 4.04 Governing Law. 

This Agreement and the Escrow Agent’s appointment hereunder shall be construed and enforced in accordance with the laws of the State of
New York applicable to agreements made and to be performed entirely within such state, and without regard to conflicts of laws principles thereof. The Escrow Agent’s jurisdiction for purposes of Sections 8-110 and 9-304 of the UCC shall be the
State of New York. This Agreement shall inure to the benefit of the parties hereto and nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or
by reason of this Agreement. The Escrow Agent may assign or transfer its rights under this Agreement to an affiliate (the “transferee”) without the prior written consent of any party hereto, provided that the Escrow Agent shall notify the
Company and the Trustee in writing at least 30 days prior to such assignment or transfer and shall provide to the Company and the Trustee prior to such assignment or transfer an agreement executed and delivered by the Escrow Agent and the transferee
indicating such assignment and the assumption by the transferee of all provisions contained in this Agreement together with all documents, filings, recordings and other action necessary to evidence the establishment of the Pledged Account and the
creation and perfection of the security interest granted in the Escrow Property. All costs and expenses related to such assignment or transfer shall be borne by the Escrow Agent. For purposes of this Section 4.04, “affiliate”
means any Person that directly or indirectly controls, or is under common control with, or is controlled by, the Escrow Agent, provided that “control” (including its correlative meanings “controlled by” and “under common
control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).

  
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 Section 4.05 Entire Agreement. 

This Agreement sets forth the entire agreement and understanding of the parties related to the Escrow Property. All prior and contemporaneous
negotiations and agreements between the parties on the matter contained in this Agreement are expressly merged into and superseded by this Agreement. 

Section 4.06 Amendment. 

This Agreement shall not be amended, in whole or in part except by a written instrument signed by the Company, the Trustee and the Escrow
Agent. This Agreement may not be modified orally or by electronic mail (other than in PDF format). 
 Section 4.07
Waivers. 
 The failure of any party to this Agreement at any time to require performance of any provision under this Agreement shall
not affect the right at a later time to enforce the same performance. A waiver by any party to this Agreement of any condition or breach of any term, covenant, representation, or warranty contained in this Agreement, in one or more instances, shall
not be construed as a further or continuing waiver of any such condition or breach or a waiver of any other condition or breach of any other term, covenant, representation, or warranty contained in this Agreement. 

Section 4.08 Headings. 

The section headings herein are for convenience only and shall not affect the construction hereof. 

Section 4.09 Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall
constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Agreement as to the parties hereto and may be used
in lieu of the original Agreement and signature pages for all purposes. 
 Section 4.10 Severability. 

In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. 
 Section 4.11 Force Majeure. 

In no event shall the Escrow Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
out of or caused, directly or indirectly, by forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and

  
 13 

 
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. The Escrow Agent shall use shall use commercially reasonable efforts, consistent
with accepted practices in the banking industry, to resume performance as soon as practicable under the circumstances. 

Section 4.12 Venue; Consent to Jurisdiction. 

(a) EACH OF THE PARTIES HEREBY EXPRESSLY AND IRREVOCABLY (I) SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS
SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AND (II) WAIVES (A) ITS RIGHT TO A TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, SUCH TRANSACTIONS, AND (B) ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY
SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. The parties also agree that service of process by certified or registered mail, return receipt requested, to the address referred to in Section 4.03 of this Agreement shall constitute
adequate service. The Company and the Escrow Agent further agree that the Escrow Agent has the right to interplead all of the assets held hereunder into a court of competent jurisdiction to determine the rights of any Person claiming any interest
herein. 
 (b) EACH PARTY, TO THE EXTENT PERMITTED BY LAW, KNOWINGLY, VOLUNTARILY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. THIS WAIVER APPLIES TO ANY ACTION OR LEGAL PROCEEDING, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. 

Section 4.13 U.S.A. Patriot Act. 

The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Escrow Agent, in order to help fight the
funding of terrorism and prevent money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Escrow Agent. The parties to this
Agreement agree that they will provide the Escrow Agent with such information as it may request in order for the Escrow Agent to satisfy the requirements of the U.S.A. Patriot Act. 

  
 14 

 Section 4.14 Security Advice. 

The Company acknowledges that regulations of the Comptroller of the Currency grant the Company the right to receive brokerage confirmations of
the security transactions as they occur. The Company specifically waives such notification to the extent permitted by law and will receive periodic cash transaction statements that will detail all investment transactions. 

Section 4.15 Benefits of the Indenture. 

In acting hereunder, the Trustee shall be entitled to all of the rights, privileges, immunities and protections given to the Trustee in the
Indenture as if such rights, privileges, immunities and protections were set forth herein. 
 [Signature pages to follow] 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers, hereunto duly authorized, as of the day and year first above written. 
  

			
	Good Technology Corporation
		
	By:	 	/s/ Ronald J. Fior
	Name: Ronald J. Fior
	Title: Chief Financial Officer

  

			
	U.S. Bank National Association, as Escrow Agent
		
	By:	 	/s/ Paula Oswald
	Name: Paula Oswald
	Title: Vice President

  

			
	U.S. Bank National Association, as Trustee
		
	By:	 	/s/ Paula Oswald
	Name: Paula Oswald
	Title: Vice President

 EXHIBIT A 

Investment Directions 

Investment Vehicles 

(limited to one fund only) 
  

					
	First American Prime Obligation Fund	  	FPZXX	  	31846V625

  

					
	Fidelity Institutional Money Market Money Market Portfolio Class I(FMPXX)	  	FMPXX	  	316175207
	Fidelity Institutional Money Market Prime Money Market Portfolio Class I(FIDXX)	  	FIDXX	  	316175405

  

					
	Goldman Sachs FSQ Money Mkt (Inst)	  	FSMXX	  	38141W232
	Goldman Sachs FSQ Prime Ob (Inst)	  	FPOXX	  	38141W364
	Goldman Sachs FSQ GOVERNMENT INST	  	FGTXX	  	38141W273

  

			
	U.S. Bank N.A. Open Commercial Paper	  	Based on term

 Investment is solely in U.S. Bank NA commercial paper, rated A1+/P1 by S&P and Moody’s. While the CP is issued with a
maturity date on or around 270 days, the funds are available at any time. You may add to or withdraw from the CP investment on any day, up to 3:00 p.m. central time. Funds are credited by the Money Center to the Trust same-day. Interest is paid
monthly on the first business day, or the next business day thereafter. 
 Investment in any of the above requires written
direction to the Escrow Agent. Please contact us for the applicable Investment form. 
 AUTOMATIC MONEY MARKET INVESTMENTS

 INVESTMENT AUTHORIZATION LETTER AND 
  

	 	1.	ACCOUNT DESCRIPTION AND TERMS 

 In the absence of specific written direction to the contrary, the
agent for the account(s) identified herein is hereby directed to invest and reinvest proceeds and other available moneys in the following fund as permitted by the operative documents on your behalf: 

U.S. Bank Money Market Deposit Account 

This account includes any and all existing and future sub-accounts, unless specific written instructions are given to exclude such accounts from this
authorization. This is a FDIC insured deposit account. 
 U.S. Bank uses the daily balance method to calculate interest on this account (actual/360). This
method applies a daily periodic rate to the principal balance in the account each day. Interest is accrued daily and credited monthly to the account. Interest rates are determined at U.S. Bank’s discretion, and may be tiered by customer deposit
amount. 

 The owner of the account is U.S. Bank as Agent for its trust customers. U.S. Bank’s trust department
performs all account deposits and withdrawals. Deposit accounts are FDIC Insured per depositor, as determined under FDIC Regulations, up to applicable FDIC limits. 

The U.S. Bank Money Market account is a U.S. Bank National Association (“U.S. Bank”) interest-bearing money market deposit account designed to meet
the needs of U.S. Bank’s Corporate Trust Services Escrow Group and other Corporate Trust customers of U.S. Bank. Selection of this investment includes authorization to place funds on deposit and invest with U.S. Bank.Exhibit 10.1

 

EXECUTION VERSION

 

EMPLOYMENT AGREEMENT

 

AGREEMENT (this “Agreement”) made as of November 2, 2014 (the “Effective Date”), by and between Fairway Group Holdings Corp., a Delaware corporation with an office at 2284 12th Avenue, New York, New York 10027 (the “Company”), and Dorothy M. Carlow (the “Executive”).

 

WITNESSETH:

 

WHEREAS, the Company and its subsidiaries (collectively, the “Fairway Group”) desire that Executive be employed to serve in an executive capacity with the Fairway Group, and Executive desires to be so employed by the Fairway Group, upon the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and of the mutual promises, representations and covenants herein contained, the parties hereto agree as follows:

 

1.                                             EMPLOYMENT.

 

The Company hereby employs Executive and Executive hereby accepts such employment, subject to the terms and conditions herein set forth.  Executive shall hold the office of Executive Vice President—Chief Merchandising Officer of the Company reporting to the Chief Executive Officer of the Company.

 

2.                                           TERM.

 

The term of employment under this Agreement began on the Effective Date and shall continue until October 31, 2016, subject to prior termination in accordance with the terms hereof (the “Initial Term”).  The Initial Term shall be automatically extended for successive additional periods of one (1) year (each such one-year period, an “Additional Term”), unless either party shall have given written notice to the other party of non-extension at least sixty (60) days prior to the end of the Initial Term or the then applicable Additional Term (any period during which Executive is employed hereunder the “Employment Term”).

 

3.                                           COMPENSATION.

 

(a)                                       As compensation for the employment services to be rendered by Executive hereunder, including all services as an officer or director of any member of the Fairway Group, the Company agrees to pay, or cause to be paid, to Executive, and Executive agrees to accept, payable in equal installments in accordance with Company payroll practices then in existence, an initial annual salary of $400,000 (the “Annual Salary”).  Executive’s Annual Salary for any year following 2015 shall be determined by the Board of Directors of the Company (the “Board”) in its sole discretion, but shall not in any year be reduced below the rate for the previous year.

 

(b)                                       During each fiscal year of the Employment Term, Executive shall be eligible for an annual performance bonus, if any, as may be determined by the Board from time to time in its sole discretion.  Such bonus will be targeted at $250,000 and will be based upon, among other things, the Executive’s performance and the Company’s financial performance.  For the fiscal year ended March 29, 2015, Executive shall receive a bonus of at least $50,000 as long as (i) the Fairway Group is in compliance with the financial covenants under its senior credit facility as of such date, (ii) Executive is an employee of the Company at March 29, 2015 and (iii) Executive’s employment is not terminated prior to the payment of such bonus (x) by the Company for “justifiable cause” (as defined in Section 7(b) below) or (y) by Executive without “good reason” (as defined in Section 7(b) below).  The bonus for the fiscal year ended March 29, 2015 shall be payable promptly after completion of the audit of the financial statements of the Fairway Group for the fiscal year ended March 29, 2015.

 

 

4.                                           EXPENSES.

 

The Company shall pay or reimburse Executive, upon presentment of suitable vouchers, for all reasonable business expenses which may be incurred or paid by Executive in connection with her employment hereunder in accordance with Company policy as established from time to time by the Board.  Executive shall comply with such restrictions and shall keep such records as the Company may reasonably deem necessary to meet the requirements of the Internal Revenue Code of 1986, as amended from time to time (the “Code”), and regulations promulgated thereunder.

 

Executive shall relocate to the New York metropolitan area in the July-August 2015 time period.  The Company shall reimburse Executive for her documented out-of-pocket expenses incurred in (i) relocating to the New York metropolitan area, including moving expenses and broker costs for the purchase or lease of a residence, up to a maximum of $25,000, and (ii) prior to her relocation to the New York metropolitan area, her cost of commuting from her home in North Carolina to New York, consistent with the Company’s travel policy.

 

5.                                           OTHER BENEFITS.

 

Executive shall be entitled to four (4) weeks paid vacation for each full calendar year, beginning with calendar year 2015 (the timing of vacations to be subject to the reasonable approval of the Chief Executive Officer), and to participate in such benefit plans and arrangements and receive other benefits on terms consistent with other officers of the Company at the same level as Executive (including short- and long-term disability insurance, 401(k) plan, hospital, major medical insurance, dental and group life insurance plans in accordance with the terms of such plans), all as determined from time to time by the Board (the “Benefit Plans”).  During the Employment Term, the Company shall provide a car allowance of $384.61 per week payable in equal installments at the same time Executive receives her salary.  During the Employment Term, the Company also agrees to provide Executive on a fully grossed-up basis, a housing allowance of $5,800 per month.  Executive shall not be entitled to rollover or otherwise accumulate unused vacation days from year-to-year without the prior consent of the Chief Executive Officer, such consent not to be unreasonably withheld.

 

6.                                             DUTIES.

 

(a)                                       Executive shall have such authority and responsibilities and shall perform such reasonable duties and functions as are typically performed by executives in her position and such other reasonable duties and functions commensurate with her position as the Chief Executive Officer and Board lawfully assign to her.  Executive shall comply in the performance of her duties with the policies of the Fairway Group and the Board, and be subject to the direction of the Chief Executive Officer and the Board.

 

(b)                                       During the Employment Term, Executive shall devote all of her business time and attention, reasonable vacation time and absences for sickness excepted, to the business of the Fairway Group, as necessary to fulfill her duties; provided, however, that Executive may engage in other activities so long as such activities do not unreasonably interfere with Executive’s performance of her duties hereunder and do not violate Section 9 hereof.  Executive shall perform the duties assigned to her in compliance in all material respects with the Company’s Code of Conduct.

 

(c)                                        Nothing contained in this Section 6 or elsewhere in this Agreement shall be construed to prevent Executive from investing or trading in non-competing investments as she sees fit for her own account, including real estate, stocks, bonds, securities, commodities or other forms of investments.

 

(d)                                       Executive shall have the right to serve on one (1) outside board of directors of Executive’s choosing.  The Chief Executive Officer shall have the right to approve of Executive’s choice, such approval not to be unreasonably withheld.  Executive’s position as a member of an outside board of directors shall not detract from her duties and responsibilities to the Fairway Group.

 

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7.                       TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION.

 

(a)                                       Executive’s employment hereunder shall terminate upon the first to occur of the following:

 

(i)                                           upon thirty (30) days’ prior written notice to Executive upon the determination by the Board that Executive’s employment shall be terminated for any reason which would not constitute “justifiable cause”;

 

(ii)                                        upon written notice to Executive from the Board of termination for “justifiable cause”;

 

(iii)                                    automatically and without notice upon the death of Executive;

 

(iv)                                    in accordance with the terms of subsection (e) hereof upon the “disability” (as defined below) of Executive;

 

(v)                                      upon thirty (30) days’ prior written notice by Executive to the Company of Executive’s voluntary termination of employment without “good reason”; or

 

(vi)                                   upon written notice by Executive to the Company of Executive’s termination of employment for “good reason” in accordance with Section 7(b)(ii).

 

Upon the Company giving notice of termination pursuant to Section 7(a)(i) or (ii), or Executive giving notice of termination pursuant to Section 7(a)(v) or (vi), the Company may require that Executive immediately leave the Company’s premises, upon being given a reasonable opportunity to collect her personal effects and belongings, but such requirement shall not affect the effective date of termination of employment.

 

(b)                                       For the purposes of this Agreement:

 

(i)                                           The term “disability” shall mean the inability of Executive, due to illness, accident or any other physical or mental incapacity, to have performed the essential functions of her duties, with or without reasonable accommodation, for a period of four (4) months (whether or not consecutive) in any twelve (12) month period during the Employment Term, as reasonably determined by the Board.

 

(ii)                                        The term “good reason” shall mean: (A) a material diminution in Executive’s level of authority, duties, responsibilities or reporting lines; (B) a material reduction in Executive’s Annual Salary or target bonus; (C) a material change to the location at which Executive must perform the duties and obligations of her employment that is more than seventy five (75) miles from the Company’s New York City office; or (D) the Company’s material breach of this Agreement.  Notwithstanding the foregoing, “good reason” shall not be deemed to exist unless, no later than ninety (90) days following the date of the “good reason” event, Executive shall have given written notice to the Company specifying in reasonable detail the Company’s acts or omissions Executive alleges would constitute “good reason” and the Company fails to rescind any such act or cure any such omission within thirty (30) days following the receipt of such notice.  If such circumstances are not fully corrected in all material respects by the Company during the thirty (30) day cure period, Executive’s employment shall terminate for “good reason” upon the expiration of the cure period.

 

(iii)                                     The term “justifiable cause” shall mean: (A) Executive’s repeated failure to attempt in good faith (other than temporarily while physically or mentally incapacitated) or refusal to attempt to perform her duties pursuant to this Agreement after her receipt of written notice from the Board of such failure or refusal specifying the details of the failure or refusal, if within ten (10) days of such notice, Executive fails to cure such failure or refusal; (B) Executive’s material breach of this Agreement (including the failure to relocate to the New York metropolitan area in the July-August 2015 time

 

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period), which breach is not cured by Executive within ten (10) days following her receipt of written notice specifying the details of such material breach; (C) Executive’s criminal act involving money or property of the Fairway Group or Executive’s breach (other than a de minimus breach) of her fiduciary duty; (D) Executive’s intentional and knowing material misrepresentation of the Company’s financial performance, operating results or financial condition to the Board; (E) any intentional unauthorized disclosure by Executive to any person, firm or corporation other than the members of the Fairway Group and their respective directors, managers, officers and employees, of any material confidential information or trade secret of the Fairway Group other than in the good faith performance of her duties; (F) Executive’s indictment or conviction of, or pleading guilty or nolo contendere to, a felony or a crime involving dishonesty, fraud or moral turpitude; (G) Executive’s willful misconduct materially damaging to the property, business or reputation of the Fairway Group (including any fraudulent act); (H) Executive’s unlawful use of controlled substances that, in the good faith judgment of the Board, impairs Executive’s ability to effectively perform her duties hereunder or while on the Company’s premises; (I) any act or omission by Executive involving gross negligence in the performance of Executive’s duties that is materially adverse to the Fairway Group; or (J) Executive’s failure to materially comply with the Fairway Group’s policies, including without limitation, the Code of Conduct; provided, however, the Company cannot terminate the Executive’s employment for “justifiable cause” unless the Board has provided the Executive with written notice of the circumstances providing grounds for “justifiable cause” and an opportunity to confront the charges (with counsel) before the Board.

 

(c)                                        Upon any termination of Executive’s employment by the Company for “justifiable cause”, or voluntarily by Executive without “good reason” (including Executive electing not to extend the Employment Term), Executive shall not be entitled to any amounts or benefits hereunder other than such portion of Executive’s Annual Salary as has been accrued through the date of her termination of employment, reimbursement of expenses pursuant to Section 4 hereof and other amounts or benefits required by law or pursuant to the terms of the Benefit Plans.

 

(d)                                       If Executive should die during the Employment Term, this Agreement shall terminate immediately.  In such event, the estate of Executive shall thereupon be entitled to receive (i) such portion of Executive’s Annual Salary as has been accrued through the date of her death, (ii) any accrued annual bonus for a prior fiscal year which remains unpaid as of the date of death and a pro rata portion of any bonus that Executive would have been entitled to receive pursuant to Section 3(b) in the fiscal year in which Executive died (based on the number of days Executive was alive during such fiscal year), payable when and if such bonus would otherwise have been payable had Executive’s employment not been terminated by reason of Executive’s death and (iii) reimbursement of expenses pursuant to Section 4.  Executive’s estate also shall be entitled to any amounts or benefits required by law or payable under the terms of the Benefit Plans.

 

(e)                                        Upon Executive’s disability in accordance with Section 7(b) hereof, the Company shall have the right to terminate Executive’s employment while she remains so disabled.  Any termination pursuant to this subsection (e) shall be effective on the date thirty (30) days after which Executive shall have received written notice of the Company’s election to terminate.  In such event, Executive shall thereupon be entitled to receive (i) such portion of Executive’s Annual Salary as has been accrued through the date of the termination of employment, (ii) any accrued annual bonus for a prior fiscal year which remains unpaid as of the date of termination and a pro rata portion of any bonus that Executive would have been entitled to receive pursuant to Section 3(b) in the fiscal year in which Executive became disabled (based on the number of days during such fiscal year that this Agreement was in effect), payable when and if such bonus would otherwise have been payable had Executive’s employment not been terminated by reason of Executive’s disability and (iii) reimbursement of expenses pursuant to Section 4.  Executive shall also be entitled to any amounts or benefits required by law or payable under the terms of the Benefit Plans.

 

(f)                                         Notwithstanding any provision to the contrary contained herein, in the event that Executive’s employment is terminated during the Employment Term by the Company without “justifiable cause” (other than due to death or disability), by Executive for “good reason” or by the Company electing not to extend the

 

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Employment Term, the Company shall, as of the end of the Employment Term, (i) continue to pay Executive her then current Annual Salary (subject to applicable tax withholding), payable in equal installments in accordance with the Company’s payroll practices then in existence, for a period ending on the later of (x) October 31, 2016 or (y) one (1) year from the date of termination and (ii) pay Executive’s COBRA continuation health coverage premiums (less the normal weekly contribution rate being paid by Executive at the time of termination, the payment of which shall be Executive’s responsibility) during the Severance Period, which amounts in (i) and (ii) above shall be in lieu of any and all other payments due and owing to Executive under the terms of this Agreement (other than any payments constituting reimbursement of expenses pursuant to Section 4 hereof, any payments or benefits required by law or payable under the terms of the Benefit Plans and the accrued annual bonus for a prior fiscal year and pro rata portion of the bonus, if any, referred to in the penultimate paragraph of this Section 7(f)).

 

The period during which payments are made pursuant to clause (i) of this Section 7(f) is hereinafter referred to as the “Severance Period.”  The payments made pursuant to this Section 7(f) are collectively hereinafter referred to as the “Severance Payments.”  The Company’s obligation to make the Severance Payments shall be conditional upon (A) Executive executing and delivering to the Company within sixty (60) days after the date of her termination of employment a release (that is no longer subject to revocation under applicable law) in substantially the form of Exhibit A hereto, and (B) Executive’s compliance in all material respects with her obligations under Sections 9, 10, 11 and 12 hereof.  Notwithstanding anything to the contrary contained herein, the first Severance Payment shall be made on the sixtieth (60th) day following Executive’s “separation from service” (as defined in Section 409A of the Code) and shall include payment of all amounts that otherwise would be due prior thereto.

 

In the event the Executive is entitled to receive Severance Payments pursuant to this Section 7(f), Executive shall also be entitled to the accrued annual bonus for a prior fiscal year which remains unpaid as of the date of termination and a pro rata portion (based on the number of days during such fiscal year that this Executive was employed) of any bonus Executive would have been entitled to receive pursuant to Section 3(b) in the fiscal year in which Executive’s employment was terminated, payable when and if such bonus would otherwise have been payable had Executive’s employment not been terminated.

 

If the Company cannot provide the COBRA payments pursuant to this Section 7(f) without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or without subjecting the Executive to taxation on group health benefits, the Company will, in lieu thereof, provide to the Executive during the remainder of the Severance Period, a taxable monthly payment in an amount equal to the estimated cost of providing such benefits, calculated in good faith as of the time of commencement of such payments.

 

(g)                                        Upon any termination of Executive’s employment hereunder, Executive shall be entitled to: (i) receive such portion of Executive’s Annual Salary as has been accrued to date; (ii) reimbursement of expenses pursuant to Section 4 hereof; (iii) any payments or benefits required by law or payable under the terms of the Benefit Plans; (iv) treatment of any outstanding equity awards in conformance with the applicable equity plan(s) and/or award agreement(s); and (v) continued indemnification and coverage under directors and officers liability insurance, in each case, pursuant to Section 13 hereof.  Any termination of employment hereunder shall include termination from all applicable board and officer positions with any member of the Fairway Group.

 

8.                                              REPRESENTATIONS AND AGREEMENTS OF EXECUTIVE.

 

(a)                                       Executive represents and warrants that she is free to enter into this Agreement and to perform the duties required hereunder, and that there are no employment contracts or understandings, restrictive covenants or other restrictions, whether written or oral, preventing the performance of her duties hereunder.

 

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(b)                                       Executive agrees to submit to a medical examination and to cooperate and supply such other information and documents as may be reasonably required by any insurance company in connection with the Company’s obtaining life insurance on the life of Executive, and any other type of insurance or fringe benefit as the Company shall determine from time to time to obtain.

 

(c)                                        Executive agrees to relocate to the New York metropolitan area in the July-August 2015 time period.

 

9.                                             NON-COMPETITION.

 

(a)                                       In view of the unique and valuable services expected to be rendered by Executive to the Fairway Group, Executive’s knowledge of the trade secrets and other proprietary information relating to the business of the Fairway Group and in consideration of the compensation to be received hereunder, and Executive’s ownership interest in the Company, Executive agrees that during the period of her employment by the Company and the greater of (i) one year following her employment with the Company or (ii) the Severance Period (the “Non-Competition Period”), Executive shall not, whether for compensation or without compensation, directly or indirectly, as an owner, principal, partner, member, shareholder, independent contractor, consultant, joint venturer, investor, licensor, lender or in any other capacity whatsoever, alone, or in association with any other person, carry on, be engaged or take part in, or render services (other than services which are generally offered to third parties) or provide advice to, own, share in the earnings of, invest in the stocks, bonds or other securities of, or otherwise become financially interested in, any entity primarily engaged in the retail grocery business that has a store, or is actively considering locating a store, within a 50-mile radius of (i) any existing store operated by the Fairway Group or (ii) any location where the Fairway Group is actively considering locating a store.  The record or beneficial ownership by Executive of up to one percent (1%) of the shares of any corporation whose shares are publicly traded on a national securities exchange or in the over-the-counter market shall not of itself constitute a breach hereunder.  In addition, Executive shall not, directly or indirectly, during the Non-Competition Period, except in the good faith performance of her duties for the Fairway Group, request or cause any suppliers or customers with whom the Fairway Group has a business relationship to cancel or terminate any such business relationship with any member of the Fairway Group or solicit, interfere with, entice from or hire from any member of the Fairway Group any employee of any member of the Fairway Group.  Notwithstanding the foregoing, the provisions of this Section 9 shall not be violated by (x) general advertising or solicitation not specifically targeted at Fairway Group related persons or entities or (y) Executive’s serving as a reference upon request.  If the Company breaches its obligation to make the Severance Payments (other than in the circumstances described in the next sentence) or to comply with its obligations under Section 4 hereof, and such breach is not cured within thirty (30) days after written notice of such breach is provided to the Company by Executive, then in addition to any other remedies available to the Executive, Executive shall be released from her obligations under this Section 9.  If Executive does not comply in all material respects with her obligations under this Section 9 (other than in the circumstances described in the immediately preceding sentence), then notwithstanding anything herein to the contrary, the Company shall not be obligated to pay Executive any remaining portion of the Severance Payments.

 

(b)                                        During the Non-Competition Period:

 

(i)                                     Executive shall not make any oral or written statements, either directly or through other persons or entities, which are disparaging to any member of the Fairway Group or any of its affiliates, management, officers, directors, services, products, operations or other matters relating to the Fairway Group’s businesses; and

 

(ii)                                  The Fairway Group, formally or through its officers and directors, shall not make any oral or written statements, either directly or through other persons or entities, which are disparaging to Executive.

 

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Notwithstanding the foregoing provisions of this Section 9(b), it shall not be a violation of this Section 9(b) for Executive or the Fairway Group to (i) make truthful statements when required by order of a court or other body having jurisdiction, any governmental investigation or inquiry by a governmental entity, subpoena, court order, compulsory legal process, or as otherwise may be required by law, (ii) make traditional competitive statements in the course of promoting a competing business (except in violation of Section 9, 10 or 11 hereof), (iii) disclose that Executive is no longer employed by the Company, (iv) rebut inaccurate statements made by the other party or (v) for either party to make truthful statements to enforce her or its rights under this Agreement.

 

(c)                                        If any portion of the restrictions set forth in this Section 9 should, for any reason whatsoever, be declared invalid by a court of competent jurisdiction, the validity or enforceability of the remainder of such restrictions shall not thereby be adversely affected.

 

(d)                                       Executive acknowledges that the provisions of this Section 9 were a material inducement to the Company to enter into this Agreement and to employ Executive.  Executive further acknowledges that the territorial and time limitations set forth in this Section 9 are reasonable and properly required for the adequate protection of the business of the Fairway Group.  Executive hereby waives, to the extent permitted by law, any and all right to contest the validity of this Section 9 on the ground of breadth of its geographic or product and service coverage or length of term.  In the event any such territorial or time limitation is deemed to be unreasonable by a court of competent jurisdiction, Executive agrees to the reduction of the territorial or time limitation to the area or period which such court shall deem reasonable.

 

(e)                                        The existence of any claim or cause of action by Executive against the Company or any other member of the Fairway Group shall not constitute a defense to the enforcement by the Fairway Group of the foregoing restrictive covenants, but such claim or cause of action shall be litigated separately.

 

10.                                      INVENTIONS AND DISCOVERIES.

 

(a)                                       Executive shall promptly and fully disclose to the Fairway Group, with all necessary detail for a complete understanding of the same, all developments, know-how, discoveries, inventions, improvements, concepts, ideas, writings, formulae, processes and methods (whether copyrightable, patentable or otherwise) made, received, conceived, developed, acquired or written during working hours, or otherwise, by Executive (whether or not at the request or upon the suggestion of the Fairway Group) during the Employment Term, solely or jointly with others, using the Fairway Group’s resources, or relating to any current or proposed business or activities of the Fairway Group known to her as a consequence of her employment or the rendering of services hereunder (collectively, the “Subject Matter”).

 

(b)                                       Executive hereby assigns and transfers, and agrees to assign and transfer, to the Fairway Group all her rights, title and interest in and to the Subject Matter, and Executive further agrees to deliver to the Fairway Group any and all drawings, notes, specifications and data relating to the Subject Matter, and to execute, acknowledge and deliver all such further papers, including applications for trademarks, copyrights or patents, as may be necessary to obtain trademarks, copyrights and patents for any thereof in any and all countries and to vest title thereto in the Fairway Group.  Executive shall assist the Fairway Group in obtaining such trademarks, copyrights or patents during the term of this Agreement, and any time thereafter on reasonable notice and at mutually convenient times, and Executive agrees to testify in any prosecution or litigation involving any of the Subject Matter; provided, however, that following termination of employment Executive shall be reasonably compensated for her time and reimbursed her reasonable out-of-pocket expenses incurred in rendering such assistance or giving or preparing to give such testimony if it is required after the Non-Competition Period.

 

11.                                       NON-DISCLOSURE OF CONFIDENTIAL INFORMATION.

 

(a)                                       Executive shall not, during the term of this Agreement, or at any time following expiration or termination of this Agreement, directly or indirectly, disclose or permit to be known, other than in the good faith performance of her duties (including without limitation disclosures to the Fairway Group’s advisors and

 

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consultants) or as is required by law (in which case Executive shall give the Company prior written notice of such required disclosure) or with the prior written consent of the Chief Executive Officer, to any person, firm or corporation, any confidential information acquired by her during the course of, or as an incident to, her employment hereunder, relating to the Fairway Group, any client, vendor or customer of the Fairway Group, or any corporation, partnership or other entity owned or controlled, directly or indirectly, by any of the foregoing, or in which any of the foregoing has a beneficial interest, including, but not limited to, the business affairs of each of the foregoing.  Such confidential information shall include, but shall not be limited to, proprietary technology, trade secrets, patented processes, research and development data, know-how, market studies and forecasts, competitive analyses, pricing policies, employee lists, personnel policies, the substance of agreements with customers, suppliers, landlords and others, marketing or dealership arrangements, servicing and training programs and arrangements, customer lists and any other documents embodying such confidential information.  This confidentiality obligation shall not apply to any confidential information which becomes publicly available from sources unrelated to the Fairway Group.

 

(b)                                       All information and documents relating to the Fairway Group as hereinabove described (or other business affairs) shall be the exclusive property of the Fairway Group, and Executive shall use commercially reasonable business efforts to prevent any publication or disclosure of any such information or documents in her possession or control.  Upon termination of Executive’s employment with the Company, all documents, records, reports, writings and other similar documents containing confidential information, including copies thereof, then in Executive’s possession or control shall be returned and left with the Company.  The foregoing obligations shall not extend to Executive’s rolodex, address books, or other documents to the extent such rolodex, address books or other documents contain only contact information.

 

12.                                       SPECIFIC PERFORMANCE.

 

Executive agrees that if she breaches, or threatens to commit a breach of, any of the provisions of Sections 9, 10 or 11 (the “Restrictive Covenants”), the Fairway Group shall have, in addition to, and not in lieu of, any other rights and remedies available to the Fairway Group under law and in equity, the right to injunctive relief and/or to have the Restrictive Covenants specifically enforced by a court of competent jurisdiction, without the posting of any bond or other security, it being agreed that any breach or threatened breach of the Restrictive Covenants would cause irreparable injury to the Fairway Group and that money damages would not provide an adequate remedy to the Company.  Notwithstanding the foregoing, nothing herein shall constitute a waiver by Executive of her right to contest whether a breach or threatened breach of any Restrictive Covenant has occurred.

 

13.                                      INDEMNIFICATION; D&O INSURANCE.

 

(a)                                       The Company shall indemnify Executive and hold her harmless as and to the extent provided in that certain Indemnification Agreement, dated as of November 2, 2014, by and between the Company and Executive.  This obligation shall survive the termination of Executive’s employment.

 

(b)                                        The Company shall cover Executive under directors and officers liability insurance both during and, while liability exists, after the Employment Term in the same amount and to the same extent as the Company covers its other officers and directors.

 

14.                                      AMENDMENT OR ALTERATION.

 

No amendment or alteration of the terms of this Agreement shall be valid unless made in writing and signed by both of the parties hereto.

 

15.                                    GOVERNING LAW.

 

This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed therein.

 

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16.                                    CHOICE OF FORUM; WAIVER OF JURY TRIAL.

 

Executive and the Fairway Group agree that any dispute between Executive and the Fairway Group shall be resolved exclusively in the United States District Court for the Southern District of New York or the applicable state court located in New York County, New York and Executive consents to personal jurisdiction in said courts.  EACH OF THE COMPANY AND EXECUTIVE HEREBY IRREVOCABLY WAIVES ITS RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY ACTION, PROCEEDING OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

17.                                      SEVERABILITY.

 

The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Agreement, which shall remain in full force and effect.

 

18.                                    WITHHOLDING.

 

The Company may deduct and withhold from the payments to be made to Executive hereunder any amounts required to be deducted and withheld by the Company under the provisions of any applicable statute, law, regulation or ordinance now or hereafter enacted.

 

19.                                    NOTICES.

 

Any notices required or permitted to be given hereunder shall be sufficient if in writing, and if delivered by hand or courier, or sent by certified mail, return receipt requested, to the address set forth above in the case of the Company and Executive’s address as set forth in the Company’s records, or such other address as either party may from time to time designate in writing to the other, and shall be deemed given as of the date of the delivery or at the expiration of three days in the event of a mailing.

 

20.                                    COUNTERPARTS AND FACSIMILE SIGNATURES.

 

This Agreement may be signed in counterparts with the same effect as if the signatures to each counterpart were upon a single instrument, and all such counterparts together shall be deemed an original of this Agreement.  For purposes of this Agreement, a facsimile copy of a party’s signature shall be sufficient to bind such party.

 

21.                                    WAIVER OR BREACH.

 

It is agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed, as a waiver of any subsequent breach by that same party.

 

22.                                    ENTIRE AGREEMENT AND BINDING EFFECT.

 

This Agreement contains the entire agreement of the parties with respect to the subject matter hereof, supersedes all prior and contemporaneous agreements, both written and oral, between the parties with respect to the subject matter hereof, and may be modified only by a written instrument signed by each of the parties hereto.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, heirs, distributors, successors and assigns; provided, however, that (i) Executive shall not be entitled to assign or delegate any of her rights or obligations hereunder without the prior written consent of the Company and (ii) the Company shall only be permitted to assign this Agreement to an assignee of all or substantially all of the assets of the Company and if such assignee assumes the obligation hereunder in writing.  It is intended that Sections 9, 10, 11, 12 and 16 benefit each of the Company and each other member of the Fairway Group, each of which is entitled to enforce the provisions of Sections 9, 10, 11, 12 and 16.

 

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23.                                    SURVIVAL.

 

Except as otherwise expressly provided herein, the termination of Executive’s employment hereunder or the expiration of this Agreement shall not affect the enforceability of Sections 4, 7, 9, 10, 11, 12, 13, 16, 22, 23, 24 and 25 hereof.

 

24.                                    280G.

 

Notwithstanding anything set forth herein to the contrary, if any payment or benefit Executive would receive from the Company pursuant to this Agreement or otherwise (“Payment”) would constitute a “parachute payment” within the meaning of Section 280G of the Code and, but for this Section 24, would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall equal the Revised Amount which may under clause (a) in the following sentence be a lesser amount than the full Payment.  The “Revised Amount” shall be either (a) or (b) whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the payment may be subject to the Excise Tax and where: (a) is the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax and (b) is the full, unreduced, total Payment.  If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment is reduced to the amount in clause (a) above, unless to the extent permitted by Code Section 280G and 409A Executive designates another order, the reduction shall occur in the following order: (A) cash payments shall be reduced first and in reverse chronological order such that the cash payment owed on the latest date following the occurrence of the event triggering such excise tax will be the first cash payment to be reduced; (B) accelerated vesting of equity awards shall be cancelled/reduced next and in the reverse order of the date of grant for such equity awards (i.e., the vesting of the most recently granted stock awards will be reduced first), with full-value awards reversed before any stock option or stock appreciation rights are reduced; and (C) employee benefits shall be reduced last and in reverse chronological order such that the benefit owed on the latest date following the occurrence of the event triggering such excise tax will be the first benefit to be reduced.  Except as set forth in the next sentence, all determinations to be made under this Section 24 shall be made by the Company’s independent registered public accounting firm immediately prior to the event giving rise to the Payment (or if such firm cannot make such determination, an independent accounting firm selected by the Company (and reasonably acceptable to Executive)), which accounting firm shall provide its determinations and any supporting calculations and documentation to the Company and Executive promptly after the change in ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of Code Section 280G).  In making its determination, the accounting firm shall take into account (if applicable) the value of Executive’s non-competition covenant set forth in Section 9 of this Agreement.  The costs and expenses of the accounting firm and, if a valuation firm is required by the accounting firm to perform its calculations, such valuation firm shall be borne by the Company.

 

25.                                     409A COMPLIANCE.

 

If Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-l(i) as of the date of the Executive’s separation from service, then Executive shall not be entitled to any Severance Payments or other benefits pursuant to Section 7 of this Agreement until the earlier of (a) the date which is six (6) months after the date of Executive’s separation from service or (ii) the date of Executive’s death.  This paragraph shall only apply if, and to the extent, required in order to comply with Section 409A of the Code.  Any amounts otherwise payable to Executive upon or in the six-month period following Executive’s separation from service that are not so paid by reason of this paragraph shall be paid to Executive (or Executive’s estate, as the case may be) as soon as practicable (and in all events within twenty (20) days) after the expiration of such six-month period or (if applicable, the date of Executive’s death), and any remaining payments due to the Executive under this Agreement shall be paid as otherwise provided herein.

 

For the purposes of this Agreement, a “termination of employment” or words of like import shall mean a “separation from service” within the meaning of Section 409A of the Code and the regulations

 

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issued thereunder.  Any taxable reimbursements pursuant to Section 4 shall be paid to Executive on or before the last day of Executive’s taxable year following the taxable year in which the related expense was incurred.  Reimbursements pursuant to Section 4 are not subject to liquidation or exchange for another benefit and the amount of such benefits that Executive receives in one taxable year shall not affect the amount of such reimbursements or benefits that Executive may receive in any other taxable year.  Each of the payments that may be made under this Agreement following Executive’s termination of employment shall be deemed to be a separate payment for purposes of applying Section 409A.

 

It is intended that any amounts payable under this Agreement and the Company’s and Executive’s exercise of any authority or discretion hereunder shall comply with, and avoid the imputation of any tax, penalty or interest under Section 409A of the Code.  This Agreement shall be construed and interpreted consistent with that intent.  Notwithstanding the foregoing, Executive shall bear the cost of any failure to comply with Section 409A of the Code, unless and except to the extent that such tax, penalty or interest is incurred by reason of the Company’s willful breach of the provisions of this Agreement.

 

26.                                      FURTHER ASSURANCES.

 

The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.

 

27.                                    CONSTRUCTION OF AGREEMENT.

 

No provision of this Agreement or any related document shall be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured or drafted such provision.

 

28.                                      HEADINGS.

 

The Section headings appearing in this Agreement are for the purposes of easy reference and shall not be considered a part of this Agreement or in any way modify, demand or affect its provisions.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written.

 

	
 
    	
FAIRWAY   GROUP HOLDINGS CORP.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John E. Murphy
    
	
 
    	
 
    	
Name:   John E. Murphy
    
	
 
    	
 
    	
Title:   Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Dorothy M. Carlow
    
	
 
    	
Dorothy   M. Carlow
    

 

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EXHIBIT A

 

FORM OF RELEASE

 

In exchange for the payments and benefits set forth in the Employment Agreement between Fairway Group Holdings Corp. (the “Company”) and me dated                      2014 (the “Agreement”), and to be provided following the Effective Date (as defined below) of this Release and subject to the terms of the Agreement, and my execution (without revocation) and delivery of this Release:

 

1. (a) On behalf of myself, my agents, assignees, attorneys, heirs, executors and administrators, I hereby release the Company and its predecessors, successors and assigns, their current and former parents, affiliates, subsidiaries, divisions and joint ventures (collectively, the “Fairway Group”), and all of their current and former officers, directors, employees, and agents, in their capacity as Fairway Group representatives (individually and collectively, “Releasees”) from any and all controversies, claims, demands, promises, actions, suits, grievances, proceedings, complaints, charges, liabilities, damages, debts, taxes, allowances, and remedies of any type, including but not limited to those arising out of my employment with the Fairway Group (individually and collectively, “Claims”) that I may have by reason of any matter, cause, act or omission.  This release applies to Claims that I know about and those I may not know about occurring at any time on or before the date of execution of this Release.

 

(b) This Release includes a release of all rights and Claims under, as amended, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Rehabilitation Act of 1973, the Civil Rights Acts of 1866 and 1991, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Equal Pay Act of 1963, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act of 1938, the Older Workers Benefit Protection Act of 1990, the Occupational Safety and Health Act of 1970, the Worker Adjustment and Retraining Notification Act of 1989, the Sarbanes-Oxley Act of 2002, the New York State Human Rights Act, and the New York City Human Rights Act, as well as any other federal, state, or local statute, regulation, or common law regarding employment, employment discrimination, termination, retaliation, equal opportunity, or wage and hour.  I specifically understand that I am releasing Claims based on age, race, color, sex, sexual orientation or preference, marital status, religion, national origin, citizenship, veteran status, disability and other legally protected categories.

 

(c) This Release also includes a release of any Claims for breach of contract, any tortious act or other civil wrong, attorneys’ fees, and all compensation and benefit claims including without limitation Claims concerning salary, bonus, and any award(s), grant(s), or purchase(s) under any equity and incentive compensation plan or program.

 

(d) In addition, I am waiving my right to pursue any Claims against the Company and Releasees under any applicable dispute resolution procedure, including any arbitration policy.

 

I acknowledge that this Release is intended to include, without limitation, all Claims known or unknown that I have or may have against the Company and Releasees through the Effective Date of this Release.  Notwithstanding anything herein, I expressly reserve and do not release pursuant to this Release (and the definition of “Claims” will not include) (i) my rights with respect to the enforcement of the right to receive the payments (including without limitation the Severance Payments (as such term is defined in the Agreement) and benefits specified in the Agreement, (iii) any rights or interest under any Benefit Plan (as such term is defined in the Agreement), (iii) any right to indemnification pursuant to the Company’s Certificate of Incorporation and By-Laws and any indemnification agreement as in effect on the date hereof or otherwise, or the protections of the Company’s directors and officers liability insurance, (iv) any right to purchase shares of the Company’s stock after the date hereof under any stock option or restricted stock agreement between me and the Company, or (v) my rights as a stockholder of the Company.

 

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2. I acknowledge that I have had at least 21(1) calendar days from the date of my termination of employment with the Company (the “Termination Date”) to consider the terms of this Release, that I have been advised to consult with an attorney regarding the terms of this Release prior to executing it, that I have consulted with my attorney, that I fully understand all of the terms and conditions of this Release, that I understand that nothing contained herein contains a waiver of claims arising after the date of execution of this Release, and I am entering into this Release knowingly, voluntarily and of my own free will.  I further understand that my failure to sign this Release and return such signed Release to the Company, 2284 12th Avenue, New York, New York 10027 (attention: General Counsel) by 5:00 pm on the 22nd(2) day after the Termination Date will render me ineligible for the payments and benefits described herein and in the Agreement.

 

3. I understand that once I sign and return this Release to the Company, I have 7 calendar days to revoke it.  I may do so by delivering to the Company, 2284 12th Avenue, New York, New York 10027 (attention: General Counsel) written notice of my revocation within the 7-day revocation period (the “Revocation Period”).  This Release will become effective on the 8th day after I sign and return it to the Company (“Effective Date”) provided that I have not revoked it during the Revocation Period.

 

YOU ARE HEREBY ADVISED BY THE COMPANY TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE.

 

I HAVE READ THIS RELEASE AND UNDERSTAND ALL OF ITS TERMS. I SIGN AND ENTER THIS RELEASE KNOWINGLY AND VOLUNTARILY, WITH FULL KNOWLEDGE OF WHAT IT MEANS.

 

	
By:
    	
 
    	
 
    
	
 
    	
 
    
	
Date:
    	
 
    

 

(1)  Change to 45 days in the case of a group termination under the ADEA

(2)  If 21 days changed to 45 days, change to 46th

 

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