CRONOS GROUP
EXHIBIT 10.48
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<TYPE>EX-10.48
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<FILENAME>f10716exv10w48.htm
<DESCRIPTION>EXHIBIT 10.48
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;10.48



<P align="center" style="font-size: 10pt">SECOND AMENDMENT TO<BR>
EMPLOYMENT AGREEMENT



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the &#147;<U>Amendment</U>&#148;), made as of this 8th
day of July, 2005, by and between The Cronos Group, a soci&#233;t&#233; anonyme holding organized and
existing under the laws of Luxembourg (the &#147;<U>Company</U>&#148;), and Peter J. Younger
(&#147;<U>Younger</U>&#148;),


<P align="center" style="font-size: 10pt"><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U>:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Younger are parties to the 2001 Amended and Restated Employment
Agreement, dated as of December&nbsp;1, 2001, as amended by that certain Amendment to Employment
Agreement, dated as of October&nbsp;1, 2003 (the Amended and Restated Employment Agreement, as amended,
is referred to hereinafter as the &#147;<U>Employment Agreement</U>&#148;); and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Younger desire to amend the Employment Agreement to revise the
transaction bonus payable to Younger thereunder;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Younger desire to clarify the medical severance payable to Younger in
the event of his termination of employment entitling him to receive severance benefits under the
Employment Agreement;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the Company and Younger hereby agree as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U>Defined Terms</U>. All capitalized terms used herein and not defined herein shall have
the meaning given to them by the Employment Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U>Transaction Bonus.</U> Section 4(b) of the Employment Agreement is hereby amended in
its entirety to read as follows:



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(b) In the event that during the Term any &#147;Change in Control&#148; (as defined in
Exhibit&nbsp;A to this Agreement) of the Company occurs, Younger shall receive in a
single sum a cash bonus in an amount equal to (i)&nbsp;Younger&#146;s average annual
compensation for the five years ended the December&nbsp;31 prior to the date of the
event constituting a Change in Control,&#148; (ii)&nbsp;times three (3), (iii)&nbsp;minus one
dollar. For purposes of this provision, &#147;compensation&#148; shall include, and only
include, Younger&#146;s annual salary (Section&nbsp;3 of this Agreement), and bonus (Section
4(a) of this Agreement), as the same may be amended from time to time. The
foregoing sum is referred to herein as the &#147;<U>Transaction Bonus</U>&#148;. The
Company shall pay Younger the full dollar amount of the Transaction Bonus no later
than thirty (30)&nbsp;days after the date such Change in Control has occurred.
Notwithstanding any contrary provision of this Agreement,

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<P align="left" style="margin-left:2%; font-size: 10pt">payment of the Transaction Bonus shall be subject to any reduction required
by Section&nbsp;13 hereof.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U>Severance Benefit &#150; Medical</U>. (a)&nbsp;The first paragraph of Section 9(e) of the
Employment Agreement is hereby amended in its entirety to read as follows:



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(e)(1) Younger shall be entitled to medical severance as specified in
paragraphs (2)-(5) below for twelve (12)&nbsp;months after the date of termination or,
if Younger makes the election to receive the &#147;Non-Solicitation Payment&#148; referred
to in Section&nbsp;10 of this Agreement, for twenty-four (24)&nbsp;months after the date of
termination (said number of months) (twelve (12)&nbsp;or twenty-four (24)) referred to
hereinafter as the &#147;<U>Multiplier</U>&#148;).



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Medical severance shall be payable to Younger pursuant to the provisions
of paragraph (4)&nbsp;below in the event that, on or prior to the date Younger&#146;s
employment with the Company terminates under circumstances that would entitle him
to the payment of severance under this Section&nbsp;9, the Company&#146;s counsel or
independent auditors advise the Company that payment of medical severance benefits
under the provisions of paragraph (4)&nbsp;below will not be subject to the provisions
of Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (&#147;Code&#148;) or, if
subject to the provisions of Section&nbsp;409A of the Code, complies with the
requirements thereof such that the medical severance benefits payable to Younger
under paragraph (4)&nbsp;below will not be subject to the interest and additional tax
payable under Section&nbsp;409A(a)(1)(B). Otherwise the medical severance payable to
Younger shall be governed by the provisions of paragraph (3)&nbsp;below.



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) In the event that Younger&#146;s employment with the Company terminates under
circumstances that would entitle him to the payment of severance under Section&nbsp;9
of this Agreement and the condition stated in paragraph (2)&nbsp;above for the
application of paragraph (4)&nbsp;below has not been met, then and in such event
Younger shall be paid an amount equal to the product obtained by multiplying (i)
the monthly premium payable by the Company (and, for purposes of this subsection
(e) &#147;Company&#148; includes any subsidiary of the Company providing health insurance
benefits to Younger) under COBRA to continue the health insurance benefits that
were available to him at the time of his termination by (ii)&nbsp;the Multiplier. The
medical severance payable to Younger under this paragraph (3)&nbsp;shall be paid to
Younger in one lump sum, within thirty (30)&nbsp;days of his termination of employment.



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)(A) In the event that Younger&#146;s employment with the Company terminates
under circumstances that would entitle him to the payment of severance under this
Section&nbsp;9 and, by the date of Younger&#146;s

<P align="center" style="font-size: 10pt">2
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<P align="left" style="margin-left:2%; font-size: 10pt">termination, the condition stated in paragraph (2)&nbsp;above for the application
of this paragraph (4)&nbsp;has been met, then and in such event, in lieu of medical
severance payable under paragraph (3)&nbsp;above, Younger shall be entitled to
reimbursement, monthly, from the Company for the premiums paid by the Company
under COBRA to continue the health insurance benefits available generally to the
employees of the Company. The Company&#146;s obligation to reimburse Younger for COBRA
premiums shall extend for that number of months equal to the Multiplier or for as
long as COBRA coverage (including any state coverage) is available to Younger,
whichever period first expires. In the event that the Company terminates its
health plan or any benefit thereof (e.g., dental or vision) that was available to
Younger at the time Younger&#146;s employment with the Company was terminated, and for
which COBRA coverage is available to Younger, then and in such event the Company
shall pay to Younger, in one lump sum, within thirty (30)&nbsp;days of termination of
such coverage, an amount equal to the reimbursement paid by the Company to Younger
for such coverage for the month prior to its termination, multiplied by the number
of remaining months the Company would have reimbursed Younger for COBRA premiums
under this paragraph (4)&nbsp;had the Company not terminated its health plan (or any
benefit thereof). In the event that the Company does not terminate its health
plan in its entirety but only a benefit thereof (such as dental or vision), then
and in such event a lump-sum payment shall be made to Younger hereunder only if an
identifiable portion of the COBRA premium is attributable to the terminated
benefit of the Company&#146;s health plan. Nothing in this paragraph shall be
interpreted to provide assurance to Younger that, after any lump-sum payment is
made to Younger hereunder, Younger shall be capable of securing health plan
coverage or benefits thereafter.



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) If, after termination of employment by the Company, Younger is receiving
medical severance benefits under the provisions of this paragraph (4), and health
benefits are available to Younger from another company or entity, then and in such
event (i)&nbsp;Younger shall notify the Company that health benefits are available to
Younger from another company or entity, and (ii)&nbsp;the Company&#146;s obligation to
provide further medical severance benefits to Younger under this Section 9(e)
shall terminate.



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) In the event that, pursuant to Section&nbsp;10 of this Agreement, Younger, by
reason of his violation of the provisions of Section&nbsp;12 of this Agreement, is
obligated to repay to the Company the Non-Solicitation Payment, then and in such
event Younger&#146;s entitlement to medical severance under this subsection (e)&nbsp;shall
be limited to a period of twelve (12)&nbsp;months after the date of termination and
Younger shall promptly repay to the Company any reimbursement or payment made to

<P align="center" style="font-size: 10pt">3
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<P align="left" style="margin-left:2%; font-size: 10pt">him or for his benefit attributable to the second 12-month period after the
date of termination.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Nothing in Section&nbsp;9 of the Employment Agreement or in this Amendment shall require the
Company to continue to provide health insurance benefits for its employees generally, including
Younger, or to continue to maintain the current level and amount of coverage under its health
insurance plan(s).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<U>Payment of Severance Benefits Conditional Upon Release</U>. The Company&#146;s obligation
to provide severance benefits to Younger under the provisions of Section&nbsp;9 of the Employment
Agreement shall be conditioned on Younger&#146;s execution and continued compliance in all material
respects with the restrictive covenants set forth in the Release of Claims attached hereto as
Appendix&nbsp;A.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<U>Deletion of Exhibit&nbsp;B to Employment Agreement</U>. Exhibit&nbsp;B to the Employment
Agreement, &#147;Transaction Bonus,&#148; is hereby deleted from the Employment Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<U>Continuance in Force of Employment Agreement</U>. Other than as specifically amended
hereby, the terms and provisions of the Employment Agreement shall remain in full force and effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company and Younger have executed this Amendment as of the day and
year first above written.

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    <TD colspan="3" valign="top" align="left">&#147;COMPANY&#148;</TD>
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    <TD colspan="3" valign="top" align="left">THE CRONOS GROUP</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Dennis J. Tietz</TD>
    <TD>&nbsp;</TD>
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</DIV></TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dennis J. Tietz<BR>
Chief Executive Officer</TD>
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    <TD colspan="3" valign="top" align="left">&#147;YOUNGER&#148;</TD>
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    <TD colspan="3" valign="top" align="left">/s/ Peter J. Younger</TD>
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    <TD colspan="3" valign="top" align="left">Peter J. Younger</TD>
    <TD>&nbsp;</TD>
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<P align="center" style="font-size: 10pt">4
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<P align="center" style="font-size: 10pt"><B>Appendix&nbsp;A</B>



<P align="center" style="font-size: 10pt"><B>Form of Release of Claims</B>



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<P align="center" style="font-size: 10pt"><B>RELEASE OF CLAIMS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U>Release of Claims (&#147;Release&#148;)</U>. In consideration of the payments and benefits to be
made by &#95;&#95;&#95;, a &#95;&#95;&#95; corporation (&#147;<U>Employer</U>&#148;) to
&#95;&#95;&#95; (&#147;<U>Employee</U>&#148;) under that certain Employment Agreement, dated as of
&#95;&#95;&#95;, as amended &#95;&#95;&#95; (hereinafter, &#147;<U>Employment Agreement</U>&#148;), and with the
intention of binding Employee and Employee&#146;s heirs, executors, administrators and assigns, Employee
does hereby release, remise, acquit and forever discharge Employer and each of its subsidiaries and
affiliates (the &#147;<U>Employer Affiliated Group</U>&#148;), their present and former officers, directors,
executives, agents, attorneys, employees and employee benefits plans (and the fiduciaries thereof),
and the successors, predecessors and assigns of each of the foregoing (collectively, the
&#147;<U>Employer Released Parties</U>&#148;), of and from any and all claims, actions, causes of action,
complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial
obligations, suits, expenses, attorneys&#146; fees and liabilities of whatever kind or nature in law,
equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether
now known or unknown, suspected or unsuspected which Employee, individually or as a member of a
class, now has, owns or holds, or has at any time heretofore had, owned or held, against any
Employer Released Party in any capacity, including, without limitation, any and all claims (i)
arising out of or in any way connected with Employee&#146;s service to any member of the Employer
Affiliated Group (or the predecessors thereof) in any capacity, or the termination of such service
in any such capacity, (ii)&nbsp;for severance or vacation benefits, unpaid wages, salary or incentive
payments, (iii)&nbsp;for breach of contract, wrongful discharge, impairment of economic opportunity,
defamation, intentional infliction of emotional harm or other tort, and (iv)&nbsp;for any violation of
applicable state and local labor and employment laws (including, without limitation, all laws
concerning unlawful and unfair labor and employment practices), any and all claims based on the
Employee Retirement Income Security Act of 1974 (&#147;<U>ERISA</U>&#148;), any and all claims arising under
the civil rights laws of any federal, state or local jurisdiction, including, without limitation,
Title VII of the Civil Rights Act of 1964 (&#147;<U>Title VII</U>&#148;), the Americans with Disabilities
Act (&#147;<U>ADA</U>&#148;), Sections&nbsp;503 and 504 of the Rehabilitation Act, the Family and Medical Leave
Act, the Age Discrimination in Employment Act (&#147;<U>ADEA</U>&#148;), the California Labor Code, and any
and all claims under any whistleblower laws or whistleblower provisions of other laws, excepting
only:



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) rights of Employee under this Release and the Employment Agreement;



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) rights of Employee relating to equity awards held by Employee as of his or her
termination date;



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the right of Employee to receive COBRA continuation coverage in accordance with
applicable law;



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) rights to indemnification Employee may have (i)&nbsp;under applicable corporate law,
(ii)&nbsp;under the bylaws or articles of incorporation of any


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<P align="left" style="margin-left:2%; font-size: 10pt">Employer Released Party, or (iii)&nbsp;as an insured under any director&#146;s and officer&#146;s
liability insurance policy now or previously in force;



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) claims (i)&nbsp;for benefits under any health, disability, retirement, deferred
compensation, life insurance or other similar employee benefit plan or arrangement of the
Employer Affiliated Group, and (ii)&nbsp;for earned but unused vacation pay through the
termination date in accordance with applicable Employer policy; and



<P align="left" style="margin-left:2%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) claims for the reimbursement of unreimbursed business expenses incurred prior the
date (&#147;<U>Termination Date</U>&#148;) of Employee&#146;s termination of employment by Employer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U>Waiver of Unknown Claims</U>. In connection with this Release, and subject to
exceptions (a)-(f) of Section&nbsp;1 of this Release, Employee acknowledges that he or she is aware that
he or she may later discover facts in addition to or different from those which he or she currently
knows or believes to be true with respect to the subject matters of this Release, but that it is
Employee&#146;s intention hereby fully, finally, and forever, to settle and release all of these matters
which now exist, may exist, or previously existed between Employee and the Employer Released
Parties, whether known or unknown, suspected or unsuspected. In furtherance of such intent, the
releases given herein shall be and shall remain in effect as full and complete releases,
notwithstanding the discovery or existence of such additional or different facts. In this regard,
and subject to the exceptions (a)-(f) of Section&nbsp;1 of this Release, Employee specifically waives
the benefits of the provisions of Section&nbsp;1542 of the Civil Code of the State of California and any
other analogous state or federal law or regulation. Said Section&nbsp;1542 of the California Civil Code
reads as follows:


<P align="left" style="margin-left:5%; margin-right:4%; font-size: 10pt">A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH DEBTOR.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U>No Admissions</U>. Employee acknowledges and agrees that this Release is not to be
construed in any way as an admission of any liability whatsoever by any Employer Released Party,
any such liability being expressly denied.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<U>Application to all Forms of Relief</U>. This Release applies to any relief no matter
how called, including, without limitation, wages, back pay, front pay, compensatory damages,
liquidated damages, punitive damages for pain or suffering, costs and attorney&#146;s fees and expenses.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<U>Specific Waiver</U>. Employee specifically acknowledges that his or her acceptance of
the terms of this Release is, among other things, a specific waiver of his or her rights, claims
and causes of action under Title VII, ADEA, ADA and any state or


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<P align="left" style="font-size: 10pt">local law or regulation in respect of discrimination of any kind; <I>provided</I>, <I>however</I>, that
nothing herein shall be deemed, nor does anything herein purport, to be a waiver of any right or
claim or cause of action which by law Employee is not permitted to waive.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<U>No Complaints or Other Claims</U>. Employee acknowledges and agrees that he or she has
not, with respect to any transaction or state of facts existing prior to the date hereof, filed any
complaints, charges or lawsuits against any Employer Released Party with any governmental agency,
court or tribunal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;<U>Conditions of Release</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Terms and Conditions</U>. From and after the Termination Date, Employee shall abide
by all the terms and conditions of this Release and the terms and conditions set forth in the
Employment Agreement, which is incorporated herein by reference.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Confidentiality</U>. Employee shall not, without the prior written consent of
Employer or as may otherwise be required by law or any legal process, or as is necessary in
connection with any adversarial proceeding against any member of the Employer Affiliated Group (in
which case Employee shall cooperate with Employer in obtaining a protective order at Employer&#146;s
expense against disclosure by a court of competent jurisdiction), communicate, to anyone other than
Employer and those designated by Employer or on behalf of Employer in the furtherance of its
business, any trade secrets, confidential information, knowledge or data relating to any member of
the Employer Affiliated Group, obtained by Employee during Employee&#146;s employment by Employer that
is not generally available public knowledge (other than by acts by Employee in violation of this
Release).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Return of Employer Material</U>. Employee represents that he or she has returned to
Employer all Employer Material (as defined below). For purposes of this Section&nbsp;7(c), &#147;<U>Employer
Material</U>&#148; means any documents, files and other property and information of any kind belonging
or relating to (i)&nbsp;any member of the Employer Affiliated Group, (ii)&nbsp;the current and former
suppliers, creditors, directors, officers, employees, agents and customers of any of them, or (iii)
the businesses, products, services and operations (including, without limitation, business,
financial and accounting practices) of any of them, in each case whether tangible or intangible
(including, without limitation, credit cards, building and office access cards, keys, computer
equipment, cellular telephones, pagers, electronic devices, hardware, manuals, files, documents,
records, software, customer data, research, financial data and information, memoranda, surveys,
correspondence, statistics and payroll and other employee data, and any copies, compilations,
extracts, excerpts, summaries and other notes thereof or relating thereto), excluding only
information (x)&nbsp;that is generally available public knowledge or (y)&nbsp;that relates to Employee&#146;s
compensation or employee benefits.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Cooperation</U>. Following the Termination Date, Employee shall reasonably cooperate
with Employer upon the reasonable request of Employer and


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<P align="left" style="font-size: 10pt">be reasonably available to Employer with respect to matters arising out of Employee&#146;s services
to the Employer Affiliated Group.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Nondisparagement</U>. Employee agrees not to communicate negatively about or
otherwise disparage any Employer Released Party or the products or businesses of any of them in any
way whatsoever.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<U>Nonsolicitation</U>. Employee agrees that for the period of time beginning on the
date hereof and ending on the second anniversary hereof, Employee shall not, either directly or
indirectly, solicit, entice, persuade, induce or otherwise attempt to influence any person who is
employed by any member of the Employer Affiliated Group to terminate such person&#146;s employment by
such member of the Employer Affiliated Group. Employee also agrees that for the same period of
time he or she shall not assist any person or entity in the recruitment of any person who is
employed by any member of the Employer Affiliated Group. The Employee&#146;s provision of a reference
to or in respect of any individual shall not be a violation this Section&nbsp;7(f).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;<U>No Representation</U>. The Employee acknowledges that, other than as set forth in the
Employment Agreement, (i)&nbsp;no promises have been made to him or her, and (ii)&nbsp;in signing this
Release Employee is not relying upon any statement or representation made by or on behalf of any
Employer Released Party and each or any of them concerning the merits of any claims or the nature,
amount, extent or duration of any damages relating to any claims or the amount of any money,
benefits, or compensation due Employee or claimed by Employee, or concerning the Release or
concerning any other thing or matter.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;<U>Injunctive Relief</U>. In the event of a breach or threatened breach by Employee of
this Section&nbsp;7, Employee agrees that Employer shall be entitled to injunctive relief in a court of
appropriate jurisdiction to remedy any such breach or threatened breach, Employee acknowledging
that damages would be inadequate or insufficient.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;<U>Voluntariness</U>. Employee agrees that he or she is relying solely upon his or her
own judgment; that Employee is over eighteen years of age and is legally competent to sign this
Release; that Employee is signing this Release of his or her own free will; that Employee has read
and understood the Release before signing it; and that Employee is signing this Release in exchange
for consideration that he or she believes is satisfactory and adequate.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;<U>Legal Counsel</U>. Employee acknowledges that he or she has been informed of the right
to consult with legal counsel and has been encouraged to do so.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;<U>Complete Agreement/Severability</U>. This Release constitutes the complete and final
agreement between the parties and supersedes and replaces all prior or contemporaneous agreements,
negotiations, or discussions relating to the subject matter of this Release. All provisions and
portions of this Release are severable. If any provision or portion of this Release or the
application of any provision or portion of the


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">Release shall be determined to be invalid or unenforceable to any extent or for any reason,
all other provisions and portions of this Release shall remain in full force and shall continue to
be enforceable to the fullest and greatest extent permitted by law.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;<U>Acceptance</U>. Employee acknowledges that he or she has been given a period of
twenty-one (21)&nbsp;days within which to consider this Release, unless applicable law requires a longer
period, in which case Employee shall be advised of such longer period and such longer period shall
apply. Employee may accept this Release at any time within this period of time by signing the
Release and returning it to Employer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;<U>Revocability</U>. This Release shall not become effective or enforceable until seven
(7)&nbsp;calendar days after Employee signs it. Employee may revoke his or her acceptance of this
Release at any time within that seven (7)&nbsp;calendar day period by sending written notice to
Employer. Such notice must be received by Employer within the seven (7)&nbsp;calendar day period in
order to be effective and, if so received, would void this Release for all purposes.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;<U>Governing Law</U>. Except for issues or matters as to which federal law is
applicable, this Release shall be governed by and construed and enforced in accordance with the
laws of the State of California without giving effect to the conflicts of law principles thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please indicate your acceptance of this Release by signing and dating this page and returning
it to Employer. A duplicate of this Release should be maintained for your records.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="12%">&nbsp;</TD>
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    <TD valign="top">&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#147;EMPLOYER&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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    <TD align="left" valign="top">&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
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</DIV></TD>
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    <TD align="left" valign="top">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Its</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
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</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">ACCEPTED AND AGREED:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">&#147;EMPLOYEE&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
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</TR>
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    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
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</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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</TR>
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