Document:

exv10w1

Exhibit 10.1

WAIVER AND FORBEARANCE AGREEMENT

     THIS WAIVER AND FORBEARANCE AGREEMENT (this “Agreement”) to the Credit Agreement (as
defined below), dated as of October 5, 2009, is entered into among CHAMPION HOME BUILDERS CO., a
Michigan corporation (the “Borrower”), CHAMPION ENTERPRISES, INC., a Michigan corporation
(the “Parent”), certain of the Lenders (such capitalized term and other capitalized terms
used in this preamble and the recitals below to have the meanings set forth in, or are defined by
reference in Article I below), CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as the Administrative
Agent (in such capacity, the “Administrative Agent”), and, solely for purposes of
Articles VI and VII, each Obligor signatory hereto.

WITNESSETH:

     WHEREAS, the Borrower, the Parent, the Lenders and the Administrative Agent are all parties to
the Amended and Restated Credit Agreement, dated as of April 7, 2006 (as amended or otherwise
modified prior to the date hereof, the “Credit Agreement”);

     WHEREAS, the Borrower has requested that the Lenders waive certain provisions of the Credit
Agreement;

     WHEREAS, the Borrower has also informed the Lenders and the Administrative Agent that Events
of Default have occurred under Section 9.1.1 of the Credit Agreement by reason of the Borrower’s
failure to pay principal installments of the Loans, as well as interest with respect to the Loans
and Letter of Credit fees and Commitment Fees due with respect to the applicable payment dates as
of the end of September 2009 (the “Specified Events of Default”), and as a result of the
failure by the Borrower to be in compliance with such requirements of the Credit Agreement, the
Lenders and the Administrative Agent are entitled to exercise at any time all of their rights and
remedies and to commence enforcement and collection actions under the Credit Agreement, the other
Loan Documents and applicable law;

     WHEREAS, the Borrower has requested that the Required Lenders agree, in lieu of immediately
exercising such rights and remedies and commencing such actions, to implement a forbearance period
during which, among other things, the Borrower would be afforded an opportunity to formulate and
propose a comprehensive restructuring with respect to its Obligations; and

     WHEREAS, the Required Lenders have agreed to the requested waiver and forbearance, but only
upon the terms and subject to the conditions expressly set forth in this Agreement, and without any
advance understanding or agreement by the Required Lenders or any Lender or the Administrative
Agent to consent to, or grant a waiver to permit, the implementation of any restructuring proposal
or the consummation of any transaction for which such consent or waiver would be required under the
Credit Agreement or the other Loan Documents (including without limitation, this Agreement);

 

 

     NOW THEREFORE, in consideration of the premises and for other good and valuable consideration
the receipt of which is hereby acknowledged, the parties hereto hereby covenant and agree as
follows:

ARTICLE I

DEFINITIONS

     SECTION 1.1. Certain Definitions. The following terms when used in this Agreement
shall have the following meanings (such meanings to be equally applicable to the singular and
plural forms thereof):

     “Agreement” is defined in the preamble.

     “Borrower” is defined in the preamble.

     “Credit Agreement” is defined in the first recital.

     “Effective Date” is defined in Article IV.

     “Enforcement Actions” means, collectively, all of the rights, remedies, enforcement
actions and collection actions that the Lenders and/or the Administrative Agent are entitled to
exercise under the Credit Agreement (including, without limitation, under Sections 9.2 and 9.3
thereof) or the other Loan Documents or applicable law (including directing the Collateral Trustee
to take any of such actions).

     “Forbearance Period” means the period from and including the Effective Date to and
including the expiration time on the Forbearance Period Termination Date.

     “Forbearance Period Termination Date” means the first to occur of (a) 2:00 p.m., New
York time, on October 30, 2009, (b) the moment any representation or warranty made by any Obligor
in this Agreement shall prove to have been untrue, inaccurate or incomplete in any material respect
on or as of the date made or deemed made, (c) the moment any Obligor shall fail in any material
respect to perform, as and when required, any of their respective covenants or other obligations
set forth in this Agreement, (d) the moment any Obligor shall take any action to challenge
(including without limitation, to assert in writing any challenge to) the validity or
enforceability of this Agreement, the Credit Agreement or any other Loan Documents or any provision
hereof or thereof and (e) the moment any Default or Event of Default other than a Specified Events
of Default shall occur and be continuing.

     “Lender Party” means each Lender, the Administrative Agent, the Collateral Trustee and
any Issuer, and each of their respective present or former subsidiaries, affiliates, advisors,
employees, attorneys, agents, officers, directors and representatives and their respective
predecessors, successors, transferees and assigns.

     “Specified Events of Default” is defined in the second recital.

-2-

 

     SECTION 1.2. Other Definitions. Terms for which meanings are provided in the Credit
Agreement are, unless otherwise defined herein or the context otherwise requires, used in this
Agreement with such meanings.

ARTICLE II

LIMITED WAIVER TO CREDIT AGREEMENT

     Subject to the occurrence of the Effective Date, certain limited provisions of the Credit
Agreement are hereby waived in accordance with this Article II. Except as expressly so waived in
this Article II, the Credit Agreement shall continue in full force and effect.

     SECTION 2.1. Limited Waivers as to Section 8.4(d) and (e). The Required Lenders
hereby waive, until 2:00 p.m., New York time, on October 30, 2009, the requirement that the Parent
and the Borrower comply with the provisions of Sections 8.4(d) and 8.4(e) of the Credit Agreement
for the second and third Fiscal Quarters of 2009.

ARTICLE III

SPECIFIED EVENTS OF DEFAULT, FORBEARANCE

AND LIMITATION ON PERMITTED ACTIONS

     SECTION 3.1. Specified Events of Default. Each Obligor acknowledges and agrees that
(a) the Specified Events of Default have occurred and continue to exist as of the Effective Date,
and (b) absent the agreement of the Required Lenders to forbear from taking Enforcement Actions,
the occurrence and continuance of the Specified Events of Default entitles the Administrative
Agent, the Collateral Trustee and/or the Lenders to at any time take Enforcement Actions.

     SECTION 3.2. Forbearance Period. Subject to the terms and conditions of this
Agreement, the Lenders and the Administrative Agent agree to forbear from taking any Enforcement
Action as a result of the occurrence and continuance of the Specified Events of Default, during the
period from and including the Effective Date until the Forbearance Period Termination Date;
provided, however, that the foregoing shall not limit any action taken by the
Administrative Agent, the Collateral Trustee or the Lenders to perfect, maintain or defend the Lien
of the Collateral Trustee and the Secured Parties in the Collateral (as defined in the Pledge and
Security Agreement) against claims of third parties or any Obligor.

     SECTION 3.3. No Waiver; Limitation on Forbearance; Limitation on Permitted Actions under
Credit Agreement and on Other Actions. Each Obligor acknowledges and agrees that,
notwithstanding the agreement of the Lenders and the Administrative Agent to forbear from taking
Enforcement Actions during the Forbearance Period in respect of the Specified Events of Default,
(a) such forbearance shall not constitute a waiver of the occurrence or the continuance of any
Event of Default, and each such Event of Default which has occurred shall continue to exist after
the Effective Date unless and until cured or waived by the Required Lenders (with the
Administrative Agent and the Lenders expressly reserving the right to exercise any and all rights
and remedies after termination of the Forbearance Period), (b) nothing contained in this

-3-

 

Agreement shall be construed to limit or affect the right of any Lender Party to bring or
maintain during the Forbearance Period any action to enforce or interpret any provision of this
Agreement, or to file or record instruments of public record (or take other action) to perfect or
further protect the liens and security interests granted by the Obligors to the Lender Parties, (c)
the Borrower’s right to obtain Borrowings pursuant to Article II of the Credit Agreement is
suspended (except the Borrower shall be permitted to continue Loans, or convert Loans into, LIBO
Rate Loans with an Interest Period of one month), and (d) no bonuses or retention payments shall be
paid to employees (other than those with respect to which the Obligors are obligated to make
payment under the Obligors’ management incentive compensation bonus plans in effect prior to
October 1, 2009 for their plant and Star Fleet operations in an amount not to exceed $700,000) and
no transfers of cash or other assets shall be made (including payments to vendors) outside the
ordinary course of business consistent with past practice.

     SECTION 3.4. Enforcement Actions After Forbearance Period. Each Obligor acknowledges
and agrees that, on the Forbearance Period Termination Date, the agreement of the Lenders and the
Administrative Agent to forbear from taking any Enforcement Action in respect of the Specified
Events of Default shall cease and be of no further force or effect, and the Lender Parties shall be
entitled to immediately take Enforcement Actions under the Credit Agreement, the other Loan
Documents and applicable law, all without further notice or demand, in respect of the Specified
Events of Default.

ARTICLE IV

CONDITIONS TO EFFECTIVENESS

     SECTION 4.1. Conditions to Effectiveness. This Agreement shall become effective upon
the prior or simultaneous satisfaction of each of the following conditions in a manner reasonably
satisfactory to the Administrative Agent (the date when all such conditions are so satisfied being
the “Effective Date”):

     SECTION 4.2. Counterparts. The Administrative Agent shall have received counterparts
hereof executed on behalf of the Borrower, each other Obligor, the Required Lenders and the
Administrative Agent.

     SECTION 4.3. Costs and Expenses, etc. The Administrative Agent shall have received
all fees, costs and expenses due and payable pursuant to Section 12.3 of the Credit Agreement
(including without limitation the fees and expenses of Willkie Farr & Gallagher LLP, special New
York restructuring counsel to the Administrative Agent), if then invoiced.

     SECTION 4.4. Certificate of Authorized Officer. The Borrower shall have delivered a
certificate of an Authorized Officer, solely in his or her capacity as an Authorized Officer of the
Borrower and not in his or her individual capacity, certifying that, both immediately before and
after giving effect to this Agreement on the Effective Date, the statements set forth in Article V
hereof are true and correct.

     SECTION 4.5. Satisfactory Legal Form. The Administrative Agent and its counsel shall
have received all information, and such counterpart originals or such certified or other copies of

-4-

 

such materials, as the Administrative Agent or its counsel may reasonably request, and all
legal matters incident to the effectiveness of this Agreement shall be satisfactory to the
Administrative Agent and its counsel. All documents executed or submitted pursuant hereto or in
connection herewith shall be reasonably satisfactory in form and substance to the Administrative
Agent and its counsel.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     To induce the Lenders to enter into this Agreement, the Obligors represent and warrant to the
Lenders as set forth below.

     SECTION 5.1. Validity, etc. This Agreement and the Credit Agreement (after giving
effect to this Agreement) each constitutes the legal, valid and binding obligation of such
applicable Obligor enforceable in accordance with its terms subject to the effects of bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors’ rights generally, general equitable principles (whether considered in a
proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

     SECTION 5.2. Representations and Warranties, etc. Both before and after giving
effect to this Agreement, the statements set forth in clause (a) of Section 5.3.1, and other than
with respect to the Specified Events of Default, the statements set forth in clause (b) of Section
5.3.1, in each case of the Credit Agreement, are true and correct.

     SECTION 5.3. Amount of Obligations. Each Obligor acknowledges, represents and agrees
that, (a) as of the close of business on September 30, 2009, the Obligations include, without
limitation, the amounts set forth on Schedule 5.3 attached hereto on account of the outstanding
unpaid amount of principal of, accrued and unpaid interest on, and fees and other obligations with
respect to or in connection with, the Loans and outstanding Letters of Credit and (b) such Obligor
is not disputing, and shall not dispute, the amount of such Obligations and has no right of setoff,
counterclaim or other defense with respect to its obligations to repay such Obligations in full in
cash.

     SECTION 5.4. Validity of Obligations. Each Obligor acknowledges and agrees that (a)
such Obligor is truly and justly indebted to the applicable Lender Parties for the Obligations,
without defense, counterclaim or offset of any kind, and such Obligor ratifies and reaffirms the
validity, enforceability and binding nature of such Obligations, (b) such Obligor has no claim,
right or cause of action of any kind against any Lender Party in connection with the Obligations,
the Credit Agreement and the other Loan Documents, or the transactions contemplated hereby or
thereby and (c) each Lender Party has heretofore properly performed and satisfied in a timely
manner all of its obligations under or in connection with the Loan Documents.

-5-

 

ARTICLE VI

CONFIRMATIONS AND COVENANTS

     SECTION 6.1. Guarantees, Security Interest, Continued Effectiveness. Each Obligor
hereby reaffirms, as of the Effective Date, that immediately after giving effect to this Agreement
(a) the covenants and agreements made by such Obligor contained in each Loan Document to which it
is a party, (b) with respect to each Obligor party to a Guaranty, its guarantee of payment of the
Obligations pursuant to such Guaranty and (c) with respect to each Obligor party to the Pledge and
Security Agreement or a Mortgage, its pledges and other grants of Liens in respect of the
Obligations pursuant to any such Loan Document, in each case, as such covenants, agreements and
other provisions are modified by and are subject to the forbearance created by this Agreement.

     SECTION 6.2. Validity, etc. Each Obligor (other than the Borrower) hereby represents
and warrants, as of the Effective Date, that immediately after giving effect to this Agreement,
each Loan Document, in each case as modified by and subject to the forbearance created by this
Agreement (where applicable and whether directly or indirectly), to which it is a party continues
to be a legal, valid and binding obligation of such Obligor, enforceable against such party in
accordance with its terms subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting creditors’ rights
generally, general equitable principles (whether considered in a proceeding in equity or at law)
and an implied covenant of good faith and fair dealing.

     SECTION 6.3. Representations and Warranties, etc. Each Obligor (other than the
Borrower) hereby represents and warrants, as of the Effective Date, that before and after giving
effect to this Agreement, as modified by and subject to the forbearance created by this Agreement,
the representations and warranties set forth in each Loan Document to which such Obligor is a party
are, in each case, true and correct (a) in the case of representations and warranties not qualified
by references to “materiality” or a Material Adverse Effect, in all material respects and (b)
otherwise, in all respects, in each case with the same effect as if then made (unless stated to
relate solely to an earlier date, in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date).

ARTICLE VII

MISCELLANEOUS

     SECTION 7.1. Cross-References. References in this Agreement to any Article or
Section are, unless otherwise specified, to such Article or Section of this Agreement.

     SECTION 7.2. Loan Document Pursuant to Credit Agreement. This Agreement is a Loan
Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with all of the terms and

-6-

 

provisions of the Credit Agreement, subject to the waiver and forbearance created by this
Agreement, including Articles X and XII thereof.

     SECTION 7.3. Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns.

     SECTION 7.4. Counterparts. This Agreement may be executed by the parties hereto in
several counterparts, each of which when executed and delivered shall be an original and all of
which shall constitute together but one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile (or other electronic transmission)
shall be effective as delivery of a manually executed counterpart of this Agreement.

     SECTION 7.5. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK IN THE SAME MANNER AS PROVIDED FOR IN
THE CREDIT AGREEMENT.

     SECTION 7.6. Full Force and Effect; Limited Waiver and Forbearance. Except as
expressly so waived in Article II hereof, all of the representations, warranties, terms, covenants,
conditions and other provisions of the Credit Agreement and the Loan Documents shall remain
unchanged and shall continue to be, and shall remain, in full force and effect in accordance with
their respective terms. The waiver and forbearance set forth herein shall be limited precisely as
provided for herein to the provisions expressly waived and the defaults expressly forbeared herein
and shall not be deemed to be an amendment to, waiver of, consent to or modification of any other
term or provision of the Credit Agreement or any other Loan Document or of any transaction or
further or future action on the part of any Obligor which would require the consent of any of the
Lenders under the Credit Agreement or any of the Loan Documents.

     SECTION 7.7. No Waiver. This Agreement is not, and shall not be deemed to be, a
waiver or a consent to any Event of Default, event with which the giving of notice or lapse of time
or both may result in an Event of Default, or other non-compliance now existing or hereafter
arising under the Credit Agreement and the other Loan Documents, except as expressly provided for
in Article II hereof.

     SECTION 7.8. Obligor Releases/Damages and Liability Limitations. Although each
Lender and the Administrative Agent each regards its conduct as proper and does not believe that
any Obligor has any claim, right, cause of action, offset or defense against such Lender, the
Administrative Agent, any Issuer or any other Lender Party in connection with the execution,
delivery, performance and ongoing administration of, or the transactions contemplated by, the
Credit Agreement and the other Loan Documents, each Lender, the Administrative Agent and each
Obligor agree to eliminate any possibility that any past conduct, conditions, acts, omissions,
events, circumstances or matters of any kind whatsoever could impair or otherwise affect any
rights, interests, contracts or remedies of the Lenders, the Administrative Agent or any other
Lender Party. Therefore, each Obligor, on behalf of itself and its employees, agents, officers,
directors, representatives, predecessors, successors, transferees and assigns, unconditionally,
freely, voluntarily and, after consultation with counsel and becoming fully and adequately informed
as to the relevant facts, circumstances and consequences, knowingly releases, waives

-7-

 

and forever discharges (and further agrees not to allege, claim or pursue) (a) any and all
liabilities, indebtedness and obligations, whether known or unknown, of any kind whatsoever of any
Lender Party to any Obligor, except for any obligations remaining to be respectively performed by
the Lenders as expressly set forth in this Agreement, the Credit Agreement and the other Loan
Documents, (b) any legal, equitable or other obligations of any kind whatsoever, whether known or
unknown, of any Lender Party to any Obligor (and any rights of any Obligor against any Lender
Party) other than any such obligations expressly set forth in this Agreement, the Credit Agreement
and the other Loan Documents, (c) any and all claims, whether known or unknown, under any oral or
implied agreement with (or obligation or undertaking of any kind whatsoever of) any Lender Party
which is different from or in addition to the express terms of this Agreement, the Credit Agreement
and the other Loan Documents and (d) all other claims, rights, causes of action, counterclaims or
defenses of any kind whatsoever, in contract or in tort, in law or in equity, whether known or
unknown, direct or derivative, which such Obligor or any predecessor, successor or assign might
otherwise have or may have against any Lender Party on account of any conduct, condition, act,
omission, event, contract, liability, obligation, demand, covenant, promise, indebtedness, claim,
right, cause of action, suit, damage, defense, circumstance or matter of any kind whatsoever which
existed, arose or occurred at any time prior to the Effective Date. The Obligors further
understand and agree that none of the Lenders, the Administrative Agent, any Issuer or any other
Lender Party shall at any time, whether heretofore, on or as of the Effective Date or thereafter,
be liable or responsible for any special, consequential, punitive, incidental, exemplary or other
similar damages or claims arising in any way out of the Loan Documents, the transactions
contemplated thereby or any action taken or not taken in connection therewith. Each Lender Party
hereby further agrees that the Administrative Agent shall not have any liability or responsibility
whatsoever, and shall be fully protected and exculpated from and against, any action taken or not
taken by it at the direction of the Required Lenders.

[signature pages follow]

-8-

 

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

	 	 	 	 	 
	 	CHAMPION HOME BUILDERS CO.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHAMPION ENTERPRISES, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Solely for purposes of Articles VI and
VII, each of the undersigned Obligors:

CHAMPION ENTERPRISES MANAGEMENT CO.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHAMPION RETAIL, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HIGHLAND ACQUISITION CORP.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Pages to Waiver and Forbearance Agreement

 

 

	 	 	 	 	 
	 	HIGHLAND MANUFACTURING COMPANY LLC

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HOMES OF MERIT, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NEW ERA BUILDING SYSTEMS, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NORTH AMERICAN HOUSING CORP.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	REDMAN HOMES, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SAN JOSE ADVANTAGE HOMES, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Pages to Waiver and Forbearance Agreement

 

 

	 	 	 	 	 
	 	STAR FLEET, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WESTERN HOMES CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Pages to Waiver and Forbearance Agreement

 

 

	 	 	 	 	 
	 	CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as Administrative
Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as a Lender

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Pages to Waiver and Forbearance Agreement

 

 

	 	 	 	 	 
	 	[INSERT NAME OF LENDER]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Pages to Waiver and Forbearance Agreementexv10w1

Exhibit 10.1

Execution Version

SEPARATION AGREEMENT

     This SEPARATION AGREEMENT (the “Agreement”) is entered into by and between Progress Software
Corporation (the “Company”) and Joseph W. Alsop, an individual (the “Executive”). This Agreement
shall be effective on the Effective Date, as defined in Section 6.2.

     WHEREAS, the Executive and the Company wish to terminate certain of the Executive’s
relationships with the Company amicably under the terms and conditions set forth herein;

     WHEREAS, the Company recognizes the Executive’s key role as a founder of the Company and his
twenty-seven years of loyal service; and

     WHEREAS, the Company recognizes that the Executive is receiving no monetary severance and has
resigned from his positions as President and CEO and agreed, as provided below, not to stand for
reelection to the Board of Directors.

     NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and
agreements set forth below, and intending to be legally bound, the Company and the Executive agree
as follows:

          1. Resignation from Employment; Departure from Board of Directors

          Both parties acknowledge that the Executive’s service as President and Chief Executive Officer
ended effective on March 29, 2009. The Executive shall remain employed by the Company to June 30,
2009 (the “Separation Date”) at his current base salary and with his current benefits. During the
remaining period of the Executive’s employment, he shall provide transitional assistance if
reasonably requested by the Lead Independent Director of the Board of Directors (the “Board”).
Effective on the Separation Date, the Executive resigns from his employment and resigns from and
relinquishes any right to service in or privileges relating to

 

 

any and all other positions that he holds with the Company (other than as a shareholder and
optionholder), and with any and all of the Company’s subsidiaries and/or affiliates and, further,
agrees not to stand for re-election as a member of the Board at the 2009 Annual Meeting of the
Shareholders.

          2. Severance Benefits

          The Company shall provide the following:

               2.1 Stock Options

               The Company, as of the Effective Date, shall accelerate the vesting of all of the Executive’s
unvested outstanding stock options as listed on Exhibit A attached hereto and subject to the terms
of the respective Company stock option plans with respect to treatment of options upon a sale,
merger or other acquisition of the Company, shall allow the Executive or his estate, beneficiary,
legal representative or legatee to exercise all of his outstanding stock options until the earlier
of their (a) original expiration date as set forth on Exhibit A or (b) March 31, 2014, with no
exercise to be permitted thereafter. In addition, the Company hereby acknowledges that all stock
options outstanding under all Company stock option plans other than the 1992 Incentive and
Nonqualified Stock Option Plan and the 1994 Stock Incentive Plan may be transferred by the
Executive at any time from and after the Effective Date in accordance with the applicable plan
provisions and agrees to cooperate in allowing the Executive to do so and permit any such
transferee to exercise the options during their terms as set forth in the preceding sentence;
provided that the transferee agrees in writing to be bound by the terms of the Company stock option
plans and the provisions of this Section 2.1. The Company also agrees to allow the Executive and
any such transferee to make use of its “cashless option exercise” process and any other benefits
afforded to other employees in tracking and exercising stock options.

-2-

 

     Except as provided in this Section 2.1, the Company shall not terminate or cancel the stock
options subject to this Section 2.1 (the “Options”) or otherwise restrict the Executive’s rights
thereto without an order of a court of competent jurisdiction finding that the Company has grounds
to do so and permitting such action, including, without limitation, an order of rescission or such
equitable relief as the court deems proper. In the event that the Company files an action that
alleges a breach of this Agreement, the Executive’s right to exercise the Options after such filing
shall be subject to an obligation of the Executive to place any proceeds from the sale of shares
resulting from such exercise (net of any sales commissions paid by the Executive and tax
withholding by the Company) in an interest bearing escrow account at a federally insured and
chartered bank of his choice with offices in Massachusetts that is reasonably acceptable to the
Company (the “Escrow Agent”) immediately upon such sale, with instructions to the Escrow Agent to
hold all such proceeds and interest in escrow until one of the following: (i) a final judgment,
all appeals having been exhausted, awarding payment of a specified amount or no amount to the
Company, in which event the Escrow Agent shall pay such amount, if any, to the Company and the
balance, if any, to the Executive, (ii) any final dismissal of such action with prejudice, all
appeals having been exhausted, and without the issuance of any order making any directions with
respect to such payment, in which event the Escrow Agent shall pay all such amounts to the
Executive, or (iii) a direction concerning disposition made jointly by the Executive and the
Company, in which event the Escrow Agent shall follow such direction. During the period when any
such court action is pending, the Executive also shall not have the right to transfer any Options
to any third party.

-3-

 

               2.2 Liability Insurance and Indemnification

               The Company, for a minimum of six (6) years following the Separation Date, shall maintain, for
the benefit of the Executive, director and officer liability insurance (“D&O”) in form at least as
comprehensive as, and in an amount that is at least equal to, that maintained by the Company for
its officers and directors at the same time during such period. In addition, the Executive shall
be indemnified by the Company against liability, including costs and attorneys’ fees, as a current
or former director, officer and/or employee of the Company and any subsidiary or affiliate of the
Company to the extent set forth in the Company’s By-Laws.

               2.3 Office Access 

               The Company shall permit the Executive reasonable access to his office during regular business
hours and such other times as approved by the Lead Independent Director of the Board of Directors,
and shall provide reasonable administrative support, primarily through the services of his existing
assistant, to the extent reasonably available, through the Separation Date for the purpose of
transitioning matters and property to the Company, organizing his own affairs, and removing his own
property.

               2.4 Voicemail/Email

               The Company shall maintain and permit the Executive to use his existing Company voicemail and
email accounts through March 31, 2010. The Executive agrees to promptly forward all voicemails and
emails pertaining to business of the Company to whoever is designated by the Company to receive
them. Nothing in this Agreement shall be construed to limit the Company’s right to include an
automated greeting for voicemails and an automated reply to any email that provide notice that the
Executive is no longer employed by the Company.

-4-

 

               2.5 Computer/PDA

               The Executive on request of the Company shall deliver to the Company the laptop computer and
BlackBerry PDA device (together, the “Devices”) that the Executive normally uses. The Company may
remove from the Devices any and all materials, messages and other information that the Company
reasonably and in good faith determines relate to the business of the Company. The Company shall
permit the Executive a reasonable opportunity to consult and cooperate with the Company concerning
such removal. If the Company initiates a removal process, it shall use reasonable diligence to
complete such process as promptly as can reasonably be expected under the circumstances. No later
than five (5) days after the later of (i) the Separation Date; or (ii) the completion of any
removal process that the Company undertakes, the Company shall return the Devices to the Executive
and shall transfer ownership of the Devices to the Executive.

          3. Other Compensation

          The Executive will be paid all accrued but unused vacation through the Separation Date no
later than the second normal payroll cycle following the Separation Date.

          4. Covenants of the Executive

               4.1 Return and Protection of Company Property

               The Executive agrees to return to the Company all Company documents and property (except as
set forth above) no later than seven (7) days following the Executive’s return from his current
trip, and to abide by the terms of his Employee Proprietary Information and Confidentiality
Agreement signed as of July 9, 1998 (the “Proprietary Information Agreement”).

-5-

 

               4.2 Cooperation

               The Executive agrees to make himself available to the Company after the Separation Date either
by telephone or in person upon reasonable notice and with reasonable accommodation to the
Executive’s personal and business affairs, to assist the Company (which shall include for purposes
of this Section 4.2 any subsidiary or other affiliate) in connection with any matter relating to
services performed by the Executive on behalf of the Company prior to the Separation Date,
including, without limitation, to assist in the transition of his duties to the Company’s new Chief
Executive Officer. The Executive, also upon reasonable notice and with reasonable accommodation to
his personal and business affairs, further agrees to cooperate with the Company in the defense or
prosecution of any claims or actions now in existence or which may be brought or threatened in the
future against or on behalf of the Company, its directors, shareholders, officers, or employees and
which relates to the aforesaid services, including without limitation, by meeting with the
Company’s counsel and appearing to testify truthfully in any proceeding without the necessity of a
subpoena. The Company shall reimburse the Executive for his reasonable documented travel expenses
incurred in connection with such cooperation. Notwithstanding the aforesaid, the Executive’s
obligations set forth above shall not apply to any matter in which the Executive’s interests are
materially adverse to those of the Company. To the extent that any services requested by the
Company pursuant to this Section 4.2 (“Cooperation Services”) exceed fifteen (15) hours, the
Company shall compensate the Executive at an hourly rate of $500; provided that the following
Cooperation Services shall not be subject to a compensation right nor shall they be counted toward
such fifteen (15) hours: (i) time spent testifying in any proceeding and any related travel and
waiting time; and (ii) time spent assisting the Company in connection with any then threatened or
pending litigation,

-6-

 

investigation or regulatory proceeding in which the Executive is a party, subject or target, or in
which the Executive has been informed by an adverse party or governmental agency that he will be a
party, subject or target. Reimbursements of expenses shall be paid within thirty (30) days of the
Company’s receipt of an invoice from the Executive or his designee for the same. Any reimbursement
in one calendar year shall not affect the amount that may be reimbursed in any other calendar year
and a reimbursement (or right thereto) may not be exchanged or liquidated for another benefit or
payment. Any business expense reimbursements subject to Section 409A of the Code shall be made no
later than the end of the calendar year following the calendar year in which such business expense
is incurred by Executive. The Executive shall submit any such expense requests in a sufficiently
timely manner so as to permit the Company to comply with the previous sentence.

               4.3 Non-Competition; Non-Solicitation

               The Executive recognizes the highly competitive nature of the Company’s business and that the
Executive’s position with the Company and access to and use of the Company’s confidential records
and proprietary information renders the Executive special and unique. The Executive further
acknowledges that he has the opportunity to obtain additional equity in the Company pursuant to
Section 2.1. The Executive hereby agrees that for the shorter of five (5) years from the
Separation Date or one (1) year from the exercise or termination, by voluntary relinquishing to the
Company or other cancellation or termination in accordance with the terms of the applicable Company
stock option plans (but not, for the avoidance of doubt, due to any transfer of options by the
Executive as described in Section 2.1 without the subsequent exercise or termination of such
transferred options), of all of his stock options in the Company (the “Restricted Period”), he
shall not, directly or indirectly, own, manage, operate, join, control,

-7-

 

participate in, invest in or otherwise be connected or associated with, in any manner, including as
an officer, director, employee, independent contractor, stockholder, member, partner, consultant,
advisor, agent, proprietor, trustee or investor, any Competing Business with operations in the
United States; provided, however, that (i) ownership of two percent (2%) or less of the stock or
other securities of a publicly traded corporation and (ii) passive ownership of less than a five
percent (5%) interest as a limited partner of a venture capital fund, private equity fund or
similar investment vehicle, or ownership of shares in a mutual fund shall not constitute a breach
of this Section 4.5, in each case under this clause (ii), with respect to which the Executive has
no role in the review, selection or management of any investments. For purposes hereof, the
phrase, “Competing Business,” shall mean any business or venture listed on Schedule A, or any other
business or venture that has significant product activity in any of the areas listed in Schedule B,
provided, however, that a business or venture which imbeds or resells products or technology from
the companies listed on Schedule A or from companies in the product areas listed in Schedule B but
which itself has no significant product activity in the area shall not be considered a Competing
Business.

               Notwithstanding the foregoing, if the Executive seeks employment with any subsidiary,
division, affiliate or unit of a Competing Business (a “Related Unit”) and if that Related Unit
does not compete with the Company or any subsidiary or other affiliate with respect to products and
services of the Company or any other affiliate at the times and as described above (a “Noncompeting
Related Unit”), the Executive may request a waiver of this Section 4.3 with respect to employment
with such Noncompeting Related Unit. The Company shall not unreasonably withhold its agreement to
such a waiver; provided that in no event may the Executive engage in or assist in the activities of
any Related Unit that is competitive with the

-8-

 

Company or any subsidiary or other affiliate with respect to products and services of the Company
or any other affiliate at the times and as described above.

               During the Restricted Period, the Executive shall not, directly or indirectly, (i) hire,
subcontract, employ, engage or solicit any person who was an employee of the Company at the
Separation Date or within six (6) months prior thereto, nor will the Executive attempt to hire or
solicit any such person, provided, however, that this subsection (i) shall not apply with respect
to any person following the expiration of one hundred eighty (180) days from his/her termination of
employment with the Company or (ii) solicit for a Competing Business or endeavor to entice away
from the Company or any of its subsidiaries, in either case with respect to products or services
described in Schedule B, any person or entity who is, or was within the then most recent 12-month
period, a customer of the Company or any of its subsidiaries.

               The Executive acknowledges that the business of the Company is worldwide in scope and
therefore understands and agrees that there is no geographic limitation on the scope of this
Section 4.3. The Executive further agrees that the nature of the Company’s confidential
information and the goodwill relationships that were developed for the Company during the
Executive’s employment support the continuation of the restrictions pursuant to this Section for
five (5) years. Notwithstanding the foregoing, if a court determines that the geographic scope of
this Section or the length of the Restricted Period is excessive, the parties agree that this
Section should be enforced to the maximum extent that the court determines to be permissible.

               4.4 Remedies for Breach of
Non-Competition/Non-Solicitation Covenants

               The parties agree that, throughout his employment with the Company, the Executive has been
obligated to render personal services of a special, unique, unusual,

-9-

 

extraordinary and intellectual character, thereby giving this Agreement special value, and, in
the event of a breach or threatened breach of the covenants of the Executive in Section 4.3 hereof,
the injury or imminent injury to the value and the goodwill of the Company’s business could not be
reasonably or adequately compensated in damages in an action at law. Accordingly, the Executive
acknowledges that, in addition to any other remedies that may be awarded, the Company shall be
entitled to specific performance, injunctive relief or any other equitable remedy against the
Executive, without the posting of a bond, in the event of any breach or threatened breach of any
provision of this Agreement by the Executive. In addition, in the event the Executive breaches or
threatens to breach Section 4.3 of this Agreement, such breach or threatened breach will entitle
the Company, without posting of a bond, to an injunction prohibiting the Executive from violating
the terms of such Section 4.3. The Company agrees that should it decide to seek injunctive relief,
it shall provide the Executive with at least three (3) business days’ advance notice of any hearing
in which it seeks such relief; provided that for the purpose of this Section 4.4 (so long as the
Company has made reasonably diligent efforts to provide actual notice by phone, email or
otherwise), receipt of such notice shall be presumed three (3) days after mailing of notice by
nationally recognized overnight delivery service if not actually received before then.

-10-

 

          5. Non-Disparagement

          The Executive agrees that, except as required by law or to enforce the terms of this
Agreement, the Executive shall not make any disparaging statements about the Company (including for
these purposes any subsidiary or affiliate), its officers, directors, employees, products or
services. The Company shall direct its directors and the Executive’s successor as Chief
Executive Officer and the Company’s other executive officers as of the Effective Date, during the
course of their status as directors and executive officers of the Company, respectively, not to
make any disparaging statements about the Executive, except as required by law or to enforce this
Agreement. For purposes of this Agreement, statements in the course of testimony in a legal or
regulatory proceeding or in response to an inquiry by a governmental or other regulatory entity
shall be considered to be “required by law.”

          6. Release of Claims by the Executive

               6.1 Release

               In consideration of the covenants set forth herein, and more particularly the terms afforded
the Executive by way of Section 2 hereof, and other good and valuable consideration, the Executive
and his agents, heirs, legatees, successors and assigns (collectively hereinafter “Executive”),
hereby unconditionally release and forever discharge the Company, its subsidiaries and other
affiliates, its and their respective predecessors, successors and assigns, its and their respective
employee benefit plans and fiduciaries of such plans and the current and former officers,
directors, shareholders, employees, attorneys, accountants and agents of each of the foregoing in
their official and personal capacities (collectively referred to as the “Released Parties”) of and
from any and all actions, causes of actions, suits, debts, charges, complaints, claims,
liabilities, obligations, promises, agreements, controversies, damages, and expenses

-11-

 

(including attorney’s fees and costs actually incurred), of any nature whatsoever, in law or
equity, known or unknown (collectively “Claims”), which, as of the date when the Executive signs
this Agreement, the Executive then has, ever had, then claims to have or ever claimed to have had
against all or any of the Released Parties. The Executive acknowledges that the termination of the
Executive’s employment and other actions that occur pursuant to this Agreement shall not give rise
to any Claims.

               Without limiting the foregoing general waiver and release of claims, the Executive
specifically waives and releases the Company from any Claim arising from or related to his
employment relationship with the Company or the termination thereof, including, without limitation:

(a) Claims under any local, state or federal discrimination, fair employment practices or
other employment related statute, regulation or executive order (as they may have been
amended through the Effective Date) prohibiting discrimination or harassment based upon any
protected status including, without limitation, race, national origin, age, gender, marital
status, disability, veteran status or sexual orientation. Without limitation, specifically
included in this paragraph are any Claims arising under the federal Age Discrimination in
Employment Act, the Older Workers Benefit Protection Act, the Civil Rights Acts of 1866 and
1871, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay
Act, the Americans With Disabilities Act, the Worker Adjustment and Retraining Notification
Act, and any similar federal, state or local statute;

(b) Claims under any other local, state or federal employment related statute, regulation or
executive order (as they may have been amended through the Effective Date) relating to
wages, hours or any other terms and conditions of employment. Without limitation,
specifically included in this paragraph are any Claims arising under the Family and Medical
Leave Act of 1993, the National Labor Relations Act, the Employee Retirement Income Security
Act of 1974, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and any
similar federal, state or local statute;

(c) Claims under any local, state or federal common law theory including, without
limitation, wrongful discharge, breach of express or implied contract, promissory estoppel,
unjust enrichment, breach of a covenant of good faith and fair dealing, violation of public
policy, defamation, interference with contractual relations, intentional or negligent
infliction of emotional distress, invasion of privacy, misrepresentation, deceit, fraud or
negligence;

-12-

 

(d) Claims under any local, state or federal securities law, including, without limitation,
the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and
any other state or local securities statutes and regulations; and

(e) Any other Claim arising under local, state or federal law.

               Notwithstanding the foregoing, this Section shall not release the Company from any obligation
set forth in this Agreement, nor shall it affect the Executive’s vested rights under the Company’s
Section 401(k) plan or the Executive’s rights to continue group medical and dental plan benefits in
the future to the extent authorized by COBRA, any obligations of the Company to provide
indemnification to the Executive under the Company’s By-Laws, and any obligation of the Company
under any joint defense agreement between the Executive and the Company.

               The Executive agrees that he shall not seek or accept damages of any nature, other equitable
or legal remedies for his own benefit, attorneys’ fees or costs from any of the Released Parties
with respect to any Claim released by this Agreement. The Executive further represents that he has
not assigned to any third party any Claim released by this Agreement.

               6.2 OWPBA

               The Executive explicitly acknowledges that because he is over forty (40) years of age, he has
specific rights under the Older Workers Benefits Protection Act (“OWBPA”), which prohibits
discrimination on the basis of age, and that the releases set forth in this section are intended to
release any right that the Executive may have to file a claim against the Company alleging
discrimination on the basis of age.

               It is the Company’s desire and intent to make certain that the Executive fully understands the
provisions and effects of this Agreement. To that end, the Executive has

-13-

 

been advised, encouraged and given the opportunity to consult with legal counsel for the purpose
of reviewing the terms of this Agreement, which the Executive has done. Consistent with the
provisions of OWBPA, the Executive has the opportunity to consider a proposed agreement between the
Executive and the Company for more than twenty-one (21) days before signing it. The Executive
acknowledges that he received a proposed agreement on or before March 27, 2009. To accept this
Agreement, the Executive must return a signed original of this Agreement so that it is received by
the undersigned representative of the Company or the Company’s counsel on or before July 15, 2009.
If the Executive signs this Agreement before July 15, 2009, the Executive acknowledges by signing
this Agreement that such decision was entirely voluntary and that he had the opportunity to
consider this Agreement until July 15, 2009. The parties further agree that in the event that
there are any modifications, regardless of whether or not material, from the form of agreement
originally proposed by the Company, such modifications shall not restart the period for
consideration or otherwise affect the deadline for signing of July 15, 2009. For a period of seven
(7) days from the date when this Agreement is signed by the Executive, the Executive has the right
to revoke this Agreement by written notice to the undersigned representative of the Company or the
Company’s counsel. For such a revocation to be effective, it must be delivered so that it is
received by the undersigned representative of the Company or the Company’s counsel at or before the
expiration of the seven (7) day revocation period. This Agreement shall not become effective or
enforceable during the revocation period. This Agreement shall become effective on the first
business day following the expiration of the revocation period (the “Effective Date”).
Notwithstanding the foregoing, if the Executive engages in any conduct during the period before the
Effective Date that would

-14-

 

have violated this Agreement if it had then been in effect, the Company shall have the right to
void this Agreement by notice to the Executive.

          7. Release of Claims by the Company

          The Company, on behalf of itself and its affiliates, hereby releases and forever discharges
the Executive, his heirs, estate, trustees, representatives, attorneys, accountants and agents from
any and all Claims, that, as of the date when the Company signs this Agreement, the Company or any
of its affiliates then has, ever had, then claims to have or ever claimed to have had against the
Executive; provided, however, that this Section shall not release the Executive from (i) any
obligation set forth in this Agreement, (ii) any repayment obligation set forth in any affirmation
or undertaking provided to the Company in connection with indemnification claims by the Executive
or any obligation in a joint defense agreement between the Executive and the Company, (iii) Claims
based on conduct that satisfies the elements of a criminal offense and for which the Executive is
determined not to be entitled to indemnification pursuant to Massachusetts General Laws c. 156D,
Section 8.55, or (iv) Claims based on acts or omissions that constitute a breach of fiduciary duty
(without prejudice to any rights of indemnification that the Executive may have under the Company’s
By-Laws).

          8. Absence of Reliance

          In signing this Agreement, each party represents that he or it is not relying upon any
promises or representations made by the other party.

          9. Assignment and Transfer

               9.1 The Company

               This Agreement shall inure to the benefit of and be enforceable by, and may be assigned by the
Company to, any purchaser of all or substantially all of the Company’s

-15-

 

business or assets, and any successor to the Company or any assignee thereof (whether direct
or indirect, by purchase, merger, consolidation or otherwise).

               9.2 The Executive

               The Executive’s rights and obligations under this Agreement shall not be transferable by the
Executive by assignment or otherwise, and any purported assignment, transfer or delegation thereof
shall be void; provided, however, that if the Executive shall die, amounts then payable to or on
behalf of the Executive or rights which he may have hereunder shall be paid and provided to his
heirs and/or beneficiaries in accordance with the terms of this Agreement.

          10. Notices

               All notices required or permitted under this Agreement shall be in writing and delivered by
any method providing for proof of delivery. Any notice shall be deemed to have been given on the
date of receipt. Notices shall be delivered to the parties at the following addresses until a
different address has been designated by written notice to the other party:

If to the Executive:

Joseph W. Alsop

16 Thissell Street, Box 76

Prides Crossing, MA 10965-0076

jwa@alsop.com

With a copy to:

R. Robert Popeo, Esquire

Robert M. Gault, Esquire

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

One Financial Center

Boston, MA 02111

-16-

 

If to the Company:

Progress Software

14 Oak Park

Bedford, MA 01730

Attention: General Counsel

With a copy to:

Anthony J. Medaglia, Jr., P.C.

Goodwin Procter LLP

53 State Street

Boston, MA 02109

          11. Miscellaneous

               11.1 Amendment

               No amendments, modifications or waivers to this Agreement shall be valid unless in writing and
signed by all parties to the Agreement.

               11.2 Severability

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

-17-

 

               11.3 Recitals & Headings

               The recitals herein constitute an integral part of the Agreement. The captions and headings
contained in this Agreement have been inserted for reference and convenience only and in no way
define or limit the intent of any provision.

               11.4 Counterparts

               This Agreement may be executed in one or more counterparts, each of which shall be deemed to
be an original, but all of which together will constitute one and the same instrument.

               11.5 Facsimiles

               A telecopy or facsimile transmission of a signed counterpart of this Agreement shall be
sufficient to bind the party or parties whose signature(s) appear thereon.

     12. Governing Law

               This Agreement and all performance under the terms of this Agreement shall be governed by the
laws of Massachusetts without regard to conflict-of-law principles, and Massachusetts shall be the
sole and exclusive forum for the resolution of all disputes arising under or relating to this
Agreement and arising under or relating to the performance of its terms. The parties agree to
submit to the jurisdiction of the state and federal courts of Massachusetts for purposes of
enforcement of this Agreement.

     13. Entire Agreement

               This Agreement sets forth the entire agreement and understanding between the parties hereto
and supersedes and extinguishes all prior discussions, agreements, and understandings between the
parties except as set forth herein. By executing this Agreement, the Executive specifically
acknowledges that he has been afforded sufficient time to understand the

-18-

 

terms and effects of this Agreement, that his agreements and obligations hereunder are made
voluntarily, knowingly and without duress, and that neither the Company nor its agents or
representatives have made any representations inconsistent with the provisions of this Agreement.

          14. Warranty of Authority

          Each of the undersigned hereby personally warrants that he has the full authority to execute
and enter into this Agreement and has obtained all consents, approvals and authorities of any
person, committee or entity necessary to make this Agreement binding and fully enforceable against
the party for which he signs.

[Signature Page Follows]

-19-

 

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

	 	 	 	 	 	 	 	 	 	 	 
	EXECUTIVE	 	 	 	PROGRESS SOFTWARE CORPORATION  
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Joseph W. Alsop

	 	 	 	By:
	 	/s/ Michael L. Mark	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Joseph W. Alsop

	 	 	 	 	 	NAME:  Michael L. Mark	 	 	 	 
	 

	 	 	 	 	 	TITLE:  Lead Independent Director	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	June 30, 2009	 	 	 	June 26, 2009	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Date Signed	 	 	 	Date Signed

-20-

 

EXHIBIT A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Option	 	 
	 	 	Number of Securities	 	Exercise	 	Option
	 	 	Underlying	 	Price	 	Expiration
	Name	 	Unexercised Options (#)	 	($)	 	Date
	 	 	Exercisable	 	Unexercisable1	 	 	 	 	 	 	 	 
	Joseph W. Alsop
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	125,000	 	 	 	0	 	 	$	21.86	 	 	 	11/10/2013	 
	 
	 	 	37,000	 	 	 	23,000	 	 	$	23.07	 	 	 	05/21/2013	 
	 
	 	 	24,500	 	 	 	5,500	 	 	$	23.07	 	 	 	05/21/2013	 
	 
	 	 	37,000	 	 	 	23,000	 	 	$	25.01	 	 	 	09/19/2013	 
	 
	 	 	24,500	 	 	 	5,500	 	 	$	25.01	 	 	 	09/19/2013	 
	 
	 	 	10,200	 	 	 	0	 	 	$	23.00	 	 	 	02/18/2010	 
	 
	 	 	89,800	 	 	 	0	 	 	$	23.00	 	 	 	02/18/2010	 
	 
	 	 	150,000	 	 	 	0	 	 	$	14.94	 	 	 	10/06/2010	 
	 
	 	 	100,000	 	 	 	0	 	 	$	14.30	 	 	 	04/02/2011	 
	 
	 	 	25,000	 	 	 	0	 	 	$	14.30	 	 	 	04/02/2011	 
	 
	 	 	75,000	 	 	 	0	 	 	$	17.42	 	 	 	10/09/2011	 
	 
	 	 	50,000	 	 	 	0	 	 	$	17.42	 	 	 	10/09/2011	 
	 
	 	 	229,000	 	 	 	0	 	 	$	13.50	 	 	 	08/01/2012	 
	 
	 	 	21,000	 	 	 	0	 	 	$	13.50	 	 	 	08/01/2012	 
	 
	 	 	125,000	 	 	 	0	 	 	$	16.99	 	 	 	02/23/2013	 
	 
	 	 	75,000	 	 	 	0	 	 	$	18.75	 	 	 	05/23/2014	 
	 
	 	 	124,500	 	 	 	0	 	 	$	21.45	 	 	 	09/26/2014	 
	 
	 	 	500	 	 	 	0	 	 	$	21.45	 	 	 	09/26/2014	 
	 
	 	 	27,396	 	 	 	38,354	 	 	$	31.18	 	 	 	04/25/2014	 
	 
	 	 	24,500	 	 	 	5,500	 	 	$	31.18	 	 	 	04/25/2014	 
	 
	 	 	6,250	 	 	 	8,750	 	 	$	32.25	 	 	 	10/15/2014	 
	 
	 	 	21,146	 	 	 	29,604	 	 	$	32.25	 	 	 	10/15/2014	 
	 
	 	 	24,500	 	 	 	5,500	 	 	$	32.25	 	 	 	10/15/2014	 
	 
	 	 	18,959	 	 	 	68,541	 	 	$	29.94	 	 	 	04/23/2015	 
	 
	 	 	18,850	 	 	 	68,150	 	 	$	19.51	 	 	 	10/15/2015	 
	 
	 	 	109	 	 	 	391	 	 	$	19.51	 	 	 	10/15/2015	 

 

			
	1	 	As of March 16, 2009

-21-

 

SCHEDULE A

Core Competitors

Tibco

Software AG

SAP

Mega-Vendors

IBM

Oracle

Microsoft

Event Processing

Streambase

Aleri

Systar

SL

Agent Logic

SAS

Capital Markets Expansion

Flextrade

Trading Screen

Vhayu

Kx Systems

Portware

Pat Systems

Orc Software

FTEN

SOA and Data Integration

Mulesource

SpringSource

Red Hat

Amberpoint

Pervasive

GoldenGate

Cast Iron

Composite Software

Gigaspaces

BPM

Lombardi

Pegasystems

Savvion

Appian

Metastorm

Global 360

Intalio

Ultimus

Other

Sybase (just announced CEP product)

Versant (object databases)

iNet (database drivers)

Altova (XML/XQuery tools and processing)

Corticon (rules)

-22-

 

SCHEDULE B

          Any other company that has significant product activity in any of the areas of:

	 	•	 	Transaction processing languages
	 
	 	•	 	Event processing infrastructure
	 
	 	•	 	Service oriented architecture infrastructure
	 
	 	•	 	Data integration infrastructure
	 
	 	•	 	Business process monitoring infrastructure
	 
	 	•	 	Algorithmic trading infrastructure

-23-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]