MEMRY CORP
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v087664_ex10-4.htm
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>AMENDED
      AND RESTATED</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EMPLOYMENT
      AGREEMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      Amended and Rested Employment Agreement (this &#8220;Agreement&#8221;), dated as of the
      10</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      day of
      September, 2007, between </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Marcy
      Macdonald</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      (the
&#8220;Executive&#8221;) and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Memry
      Corporation</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      a
      Delaware corporation (the &#8220;Company&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>W</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>I</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>T</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>N</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>E</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>S</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>S</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>E</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>T</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>H</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
      the Company and the Executive entered into an employment agreement on July
      23,
      2003 (the &#8220;Prior Agreement&#8221;); and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
      the Company and the Executive desire to amend and restate the Prior Agreement
      on
      the terms and conditions set forth below (this &#8220;Agreement&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW,
      THEREFORE, in consideration of the premises and of the covenants and agreements
      set forth herein, the parties agree as follows:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Employment
      and Duties</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company hereby agrees to employ the Executive, and the Executive hereby accepts
      employment, upon the terms and conditions set forth herein. During the period
      during which he is employed hereunder (the &#8220;Period of Employment&#8221;), the
      Executive shall diligently and faithfully serve the Company in the capacity
      of
      Vice President, Human Resources or in such other and/or lesser executive
      capacity or capacities as the Board of Directors and the Executive may, from
      time to time, agree.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      the term hereof, the Executive shall, at the request of the Company, serve
      as an
      officer and/or director of direct and indirect subsidiaries, and other
      affiliates, of the Company as the Company, acting through its Board of
      Directors, shall request from time to time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall devote his best efforts and substantially all of his business
      time, services and attention to the advancement of the Company&#8217;s business and
      interests. The restrictions in this Section 1 shall in no way prevent the
      Executive from (except as set forth in the immediately succeeding sentence)
      pursuing other activities, so long as all of such other activities do not,
      in
      the aggregate, materially interfere with the Executive&#8217;s duties hereunder
      (including his obligation to devote substantially all of his business time,
      services and attention to the Company). Notwithstanding the foregoing, however,
      the Executive shall not accept any outside directorships without the prior
      consent of the Company&#8217;s Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall, at all times during the Period of Employment, diligently and
      faithfully carry out the policies, programs and directions of the Board of
      Directors of the Company. The Executive shall comply with the directions and
      instructions made or given by or under the authority of the Company&#8217;s Chief
      Executive Officer and/or its Board of Directors and whenever requested to do
      so
      shall give an account of all transactions, matters and things related to the
      Company and its affiliates and their affairs with which the Executive is
      entrusted.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Term</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Period of Employment shall commence on the date hereof and shall continue unless
      and until terminated as set forth in Section 8 hereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Compensation</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      In
      consideration of the services rendered and to be rendered by the Executive,
      the
      Company agrees to compensate the Executive as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
      the
      date hereof the Company shall pay to the Executive an annual base salary of
      $184,248, payable in equal installments every two weeks. The Executive&#8217;s base
      salary may be increased from time to time by the Board in accordance with normal
      business practices of the Company. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
      </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall also be entitled to receive additional compensation in the
      form
      of an annual target bonus in an amount equal to 45% of the Executive&#8217;s annual
      base salary and/or stock option grants determined by and in the sole discretion
      of the Board of Directors of the Company. Such target amount is based upon
      the
      Executive meeting all personal and Company performance goals and objectives,
      The
      Executive shall also be eligible to receive, on an annual basis 40,000 stock
      options pursuant to any bonus and/or incentive compensation programs that may
      be
      established by the Company, including without limitation the Company&#8217;s current
      incentive plans; provided, however, that nothing set forth in this sentence
      will
      in any way limit the Board of Directors discretion to approve or reject any
      bonus that the Executive would otherwise be due under any such
      plans.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall be entitled to an automobile allowance of $350 per month, to
      be
      paid in accordance with the Company&#8217;s policy for paying automobile allowances as
      in effect from time to time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall be entitled to other fringe benefits comparable to the benefits
      afforded to other executive employees of the Company, including but not limited
      to reasonable sick leave and coverage under any health, dental, accident,
      hospitalization, disability, retirement, life insurance, 401(k), and annuity
      plans, programs or policies maintained by the Company. In addition, and without
      limiting the foregoing, the Company shall provide the Executive with twenty
      working days of vacation per year. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall be entitled to reimbursement, in accordance with Company policy,
      of all reasonable out-of-pocket expenses which he incurs on behalf of the
      Company in the course of performing his duties hereunder, subject to furnishing
      appropriate documentation of such expenses to the Company&#8217;s Chief Executive
      Officer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Covenant
      Not to Compete; Nonsolicitation</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except
      as
      specifically set forth in this Section 4, during the Period of Employment,
      the
      Executive will not engage, directly or indirectly, anywhere in the United States
      (including its territories, possessions and commonwealths) or Canada in any
      business which competes or could reasonably be expected to compete with the
      Company and/or its affiliates and, for such time after the Period of Employment
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
      respect to which the Company is providing severance payments or benefits to
      the
      Executive (i.e., six (6) months under Section 8(e)),</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      any
      business which competes or could reasonably be expected to compete with the
      Company and/or its affiliates as of the date of termination of the Period of
      Employment; provided, however, that the ownership by the Executive of less
      than
      2% of the outstanding stock of any publicly traded corporation shall not be
      deemed solely by reason thereof to cause the Executive to be engaged in any
      businesses being conducted by such publicly traded corporation. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
      the foregoing, the Executive, at his sole discretion, may, by written notice
      to
      the Company within ten (10) days following the termination of the Period of
      Employment, elect to not receive severance payments or benefits pursuant to
      Section 8(e) of this Agreement, and, in return, the Executive&#8217;s post-termination
      non-competition obligations pursuant to this Section 4(a) shall terminate.
      </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      the Period of Employment and for a period of two years thereafter, the Executive
      will not, directly or indirectly, either for himself or for any other person
      or
      entity (i) solicit (A) any employee of the Company or any affiliate of the
      Company to terminate his or her employment with the Company or such affiliate
      during his or her employment with the Company or such affiliate or (B) any
      former employee of the Company or an affiliate of the Company for a period
      of
      one year after such individual terminates his or his employment with the Company
      or such affiliate, (ii) solicit any customer or client of the Company or any
      such affiliate (or any prospective customer or client of the Company or such
      affiliate) as of the termination of the Period of Employment to terminate its
      relationship with the Company or such affiliate, or do business with any third
      parties, or (iii) take any action that is reasonably likely to cause injury
      to
      the relationships between the Company or any such affiliate or any of their
      respective employees and any lessor, lessee, vendor, supplier, customer,
      distributor, employee, consultant or other business associate of the Company
      or
      any such affiliate as such relationship relates to the Company&#8217;s or such
      affiliate&#8217;s conduct of its business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      final judgment of a court of competent jurisdiction declares that any term
      or
      provision of this Section 4 is invalid or unenforceable, the parties agree
      that
      the court making the determination of invalidity or unenforceability shall
      have
      the power to reduce the scope, duration, or area of the term or provision,
      to
      delete specific words or phrases, or to replace any invalid or unenforceable
      term or provision with a term or provision that is valid and enforceable and
      that comes closest to expressing the intention of the invalid or unenforceable
      term or provision, and this Agreement shall be enforceable as so modified after
      the expiration of the time within which the judgment may be
      appealed.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Covenant
      Not to Disclose Information</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      The
      Executive agrees that during the Period of Employment and thereafter, he will
      not use or disclose, other than to another employee of the Company, qualified
      by
      the Company to receive that information in the normal course of business, any
      confidential information or trade secrets of the Company or any affiliate of
      the
      Company which were made known to him by the Company, its officers or employees
      or affiliates, or learned by him while in the Company&#8217;s employ, without the
      prior written consent of the Company, and that upon termination of his
      employment for any reason, he will promptly return to the Company any and all
      properties, records, figures, calculations, letters, papers, drawings,
      schematics or copies thereof or other confidential information of the Company
      and its affiliates of any type or description. It is understood that the term
      &#8220;trade secrets&#8221; as used in this Agreement is deemed to include, without
      limitation, lists of the Company&#8217;s and its affiliates&#8217; respective customers,
      information relating to their practices, know-how, processes and inventions,
      and
      any other information of whatever nature which gives the Company or any
      affiliate an opportunity to obtain an advantage over its competitors who do
      not
      have access to such information.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Remedy
      at Law Inadequate</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      The
      Executive acknowledges that any remedy at law for breach of any of the
      restrictive covenants (Sections 4 and 5) contained in this Agreement would
      be
      inadequate and the Company shall be entitled to injunctive relief in the event
      of any such breach. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Inventions
      and Improvements</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      With
      respect to any and all inventions (as defined in Section 7(e) below) made or
      conceived by the Executive, whether or not during his hours of employment,
      either solely or jointly with others, during the Period of Employment, without
      additional consideration:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall promptly inform the Company of any such invention.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
      such
      invention, whether patentable or not, shall be the property of the Company,
      and
      the Executive hereby assigns and agrees to assign to the Company all his rights
      to any such invention, and to any United States and/or foreign letters patent
      granted upon any such invention or any application therefor.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall apply, at the Company&#8217;s request and expense, for United States
      and/or foreign letters patent either in the Executive&#8217;s name or otherwise as the
      Company may desire.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive shall acknowledge and deliver promptly to the Company, without charge
      to the Company but at its expense, all sketches, drawings, models and figures
      and other information and shall perform such other acts, such as giving
      testimony in support of his inventorship, as may be necessary in the opinion
      of
      the Company to obtain and maintain United States and/or foreign letters patent
      and to vest the entire right and title thereto in the Company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      purposes of this Section, the term &#8220;invention&#8221; shall be deemed to mean any
      discovery, concept or idea (whether patentable or not), including but not
      limited to processes, methods, formulas, techniques, hardware developments
      and
      software developments, as well as improvements thereof or know-how related
      thereto, (i) concerning any present or prospective activities of the Company
      and
      its affiliates and (ii) (A) which the Executive becomes acquainted with as
      a
      result of his employment by the Company, (B) which results from any work he
      may
      do for, or at the request of, the Company or any of its affiliates, (C) which
      relate to the Company&#8217;s or any affiliates&#8217; business or actual or demonstrably
      anticipated research and development, or (D) which are developed in any part
      by
      use of the Company&#8217;s or any such affiliates&#8217; equipment, supplies, facilities or
      trade secrets.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      parties hereto agree that the covenants and agreements contained in this Section
      7 are, taken as a whole, reasonable in their scope and duration, and no party
      shall raise any issue of the reasonableness of the scope or duration of any
      such
      covenants in any proceeding to enforce any such covenants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Termination
      of Employment</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive&#8217;s Period of Employment may not be terminated except in accordance with
      the provisions of this Section 8.</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Executive&#8217;s Period of Employment may be terminated by the Company for cause. For
      purposes of this Agreement, &#8220;for cause&#8221; means that termination occurs in
      connection with a determination, made at a meeting of the Board of Directors
      at
      which the Executive (and, at the Executive&#8217;s option, his counsel) shall have had
      a right to participate, that the Executive has (i) committed an act of gross
      negligence or willful misconduct, or a gross dereliction of duty, that has
      materially and adversely affected the overall performance of his duties
      hereunder; (ii) committed fraud upon the Company in his capacity as an employee
      hereunder; (iii) been convicted of, or pled guilty (or nolo contendere) to,
      a
      felony that the Board of Directors, acting in good faith, determines is or
      would
      reasonably be expected to have a material adverse effect upon the business,
      operations, reputation, integrity, financial condition or prospects of the
      Company; (iv) any material breach by the Executive of the terms hereof; (v)
      failure to follow instructions from a person authorized to give them pursuant
      to
      Section 1(d) above that is lawful and not inconsistent with the terms hereof;
      (vi) the Executive&#8217;s habitual drunkenness or habitual substance abuse; or (vii)
      civil or criminal violation of any state or federal government statute or
      regulation, or of any state or federal law relating to the workplace environment
      (including without limitation laws relating to sexual harassment or age, sex
      or
      other prohibited discrimination), or any violation of any Company policy adopted
      in respect of any of the foregoing. &#8220;For cause&#8221; termination must be accompanied
      by a written notice to that effect. If the Executive is terminated for cause,
      the Executive shall be paid through the date of his termination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Executive dies, the Period of Employment shall terminate effective at the time
      of his death; provided, however, that such termination shall not result in
      the
      loss of any benefit or rights which the Executive may have accrued through
      the
      date of his death. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Period of Employment is terminated due to the Executive&#8217;s death, the Company
      shall make a severance payment to the Executive&#8217;s legal representatives equal to
      the Executive&#8217;s regular base salary payments through the end of the month in
      which such death occurs.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      In
      addition, the Company shall make a severance payment to the Executive or his
      legal representative equal to the Executive&#8217;s target bonus described in Section
      3(b), pro rated for the portion of such fiscal year completed prior to the
      Executive&#8217;s death; provided, however, that such pro rated portion of the
      Executive&#8217;s target bonus shall be paid to the Executive&#8217; legal representative
      following the completion of such fiscal year at the time similar bonuses are
      paid to other employees of the Company. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Executive becomes disabled, the Period of Employment may be terminated, at
      the
      Company&#8217;s option, at the end of the calendar month during which his disability
      is determined; provided, however, that such termination shall not result in
      the
      loss of any benefits or rights which the Executive may have accrued through
      the
      date of his disability. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Period of Employment is terminated on or after January 1, 2008 due to the
      Executive&#8217;s disability, the Company shall make a lump-sum payment to the
      Executive or his legal representative within thirty (30) days following the
      date
      of termination equal to fifty percent (50%) of the annual base salary at the
      rate of salary in effect immediately prior to the effective date of such
      termination, and if the Period of Employment is terminated on or before December
      31, 2007 due to the Executive&#8217;s disability, the Company shall make a payment to
      the Executive or his legal representative equal to the Executive&#8217;s regular
      salary payments for a period of six (6) months from the date of such
      termination, or, if sooner, until payments begin under any disability insurance
      policy maintained by the Company for the benefit of the Executive.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      For the
      purposes of this section, the definition of &#8220;disability&#8221; shall be the same as
      the definition of a &#8220;permanent disability&#8221; contained in any long-term disability
      insurance policy maintained by the Company in effect at the time of the
      purported disability, or last in effect, if no policy is then in
      effect.</font></div>
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Executive&#8217;s Period of Employment is terminated by the Executive for &#8220;Good
      Reason,&#8221; as hereinafter defined, or is terminated by the Company (other than
      pursuant to Section 8(d)) without cause (and the Company may terminate the
      Period of Employment without cause at any time), then, in addition to the other
      rights to which the Executive is entitled upon a termination as provided for
      herein, the Executive shall also be entitled to (1) a lump-sum payment within
      thirty (30) days following the date of termination equal to the sum of (A)
      50%
      (i.e., 6 months) of the Executive&#8217;s annual base salary, at the rate of salary in
      effect immediately prior to the effective date of such termination (without
      regard to any purported or attempted reduction of such rate by the Company),
      plus (B) 50% (i.e., 6 months) of the Executive&#8217;s bonus otherwise payable for the
      fiscal year during which termination occurs based on the rate of salary in
      effect immediately prior to the effective date of such termination (without
      regard to any purported or attempted reduction of such rate by the Company),
      and
      (2) continued participation in the Company&#8217;s health plan as an active employee
      (based on the elections in effect on the date of termination) as in effect
      from
      time to time for the six (6)-month period immediately following the Executive&#8217;s
      termination of employment (provided that the Company may satisfy this obligation
      by paying the Executive&#8217;s COBRA continuation premiums during this period if the
      Executive is not eligible to participate in the Company&#8217;s health plan as an
      active employee).</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      For
      purposes of this Agreement, the term &#8220;Good Reason&#8221; shall mean: (i) the failure
      by the Company to materially observe or comply with any of the material
      provisions of this Agreement; or (ii) at the election of the Executive, if,
      in
      connection with or during the two (2)-year period following a Change in Control
      (as defined in Section 10(f)), there is a material diminution in the authority
      (which shall include a diminution of the Executive&#8217;s position), duties and/or
      responsibilities of the Executive. Notwithstanding the foregoing, a termination
      of employment by the Executive for Good Reason shall not occur unless (1) the
      Executive provides written notice to the Company of the existence of the
      condition described in clause (i), (ii), and/or (iii) and a thirty (30)-day
      opportunity to cure, (2) the Executive provides notice of the condition
      constituting Good Reason within ninety (90) days following the initial
      occurrence of the condition described in clause (i), (ii) or (iii) above, and
      (3) the Executive&#8217;s termination of employment occurs within two (2) years
      following the initial occurrence the condition described in clause (i), (ii)
      or
      (iii) above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Executive&#8217;s Period of Employment is terminated at the election of the Executive,
      for &#8220;Change in Control Good Reason&#8221;, the Executive shall be entitled to (1) a
      lump-sum payment within thirty (30) days following the date of termination
      equal
      to the sum of (A) 100% of the Executive&#8217;s annual base salary (i.e., twelve (12)
      months, at the rate of salary in effect immediately prior to the effective
      date
      of such termination (without regard to any purported or attempted reduction
      of
      such rate by the Company), plus (B) 75% of the Executive&#8217;s bonus otherwise
      payable for the fiscal year during which such termination occurs</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      and (2)
      continued participation in the Company&#8217;s health plan as an active employee
      (based on the elections in effect on the date of termination) as in effect
      from
      time to time for the twelve (12)-month period immediately following the
      Executive&#8217;s termination of employment (provided that the Company may satisfy
      this obligation by paying the Executive&#8217;s COBRA continuation premiums during
      this period if the Executive is not eligible to participate in the Company&#8217;s
      health plan as an active employee)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      For
      purposes of this subsection (f), &#8220;Change in Control Good Reason&#8221; shall mean
      that, during the two-year period following a Change in Control of the Company
      (as defined in Section 10(f)), there is a material diminution in the authority
      (which shall include a diminution of the Executive&#8217;s position), duties and/or
      responsibilities of the Executive. Notwithstanding the foregoing, a termination
      of employment by the Executive for Change in Control Good Reason shall not
      occur
      unless (1) the Executive provides written notice to the Company of the existence
      of the condition described above and a thirty (30)-day opportunity to cure,
      (2)
      the Executive provides notice of the condition constituting Change in Control
      Good Reason within ninety (90) days following the initial occurrence of the
      condition described above, and (3) the Executive&#8217;s termination of employment
      occurs within two (2) years following the initial occurrence the condition
      described above.</font></div>
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      </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Period of Employment may be </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">terminated
      by the Executive without Good Reason or Change in Control Good Reason at any
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      may elect to waive the period of notice, or any portion thereof, and, if the
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      and obligations of the parties under this Agreement shall cease, except that
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      5, 6 and 7 hereof, and the Company shall be bound to pay to the Executive
      accrued compensation, including salary and other benefits, to the date of
      termination and any severance payments which may be owed under the provisions
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      Agreement may not be assigned by the Executive. The Company may assign this
      Agreement in connection with a Sale of the Company.</font></div>
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      the
      event that any provision of this Agreement is found by a court of competent
      jurisdiction to be invalid or unenforceable, such provision shall be, and shall
      be deemed to be, modified so as to become valid and enforceable, and the
      remaining provisions of this Agreement shall not be affected.</font></div>
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      Agreement shall be governed by and construed in accordance with the laws of
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      Agreement constitutes the entire agreement of the parties with respect to the
      subject matter hereof, and supercedes all prior agreements, representations
      and
      promises by either party or between the parties, including without limitation,
      the Prior Agreement.</font></div>
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      purposes of this Agreement, &#8220;Change in Control of the Company&#8221; shall mean: (i)
      any merger or consolidation or other corporate reorganization of the Company
      in
      which the Company is not the surviving entity; or (ii) any sale of all or
      substantially all of the Company&#8217;s assets, in either a single transaction or a
      series of transactions; or (iii) a liquidation of all or substantially all
      of
      the Company&#8217;s assets; or (iv) a change within one twelve-month period of a
      majority of the directors constituting the Company&#8217;s Board of Directors at the
      beginning of such twelve-month period; or (v) if a single person or entity,
      or a
      related group of persons or entities, at any time acquires beneficial ownership
      (within the meaning of Rule 13d-3 promulgated under the Securities Exchange
      Act
      of 1934, as amended) of 25% or more of the Company&#8217;s outstanding voting
      securities; unless, (x) with respect to any event described in clauses (i)
      through (v), the Executive agrees in writing, prior to the consummation of
      the
      event giving rise to the Change in Control of the Company, that such event
      or
      events does not for purposes of this Agreement constitute a Change in Control
      of
      the Company or, as a director, votes in favor of the matter that would otherwise
      cause the Change in Control of the Company or, (y) with respect to clause (iv),
      the change of directors is approved by the Board of Directors as constituted
      prior to such change.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section
      409A. Payments in the event of a Termination of Employment, Disability, Change
      in Control or Otherwise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
      anything to the contrary contained herein, in the event that the Executive
      constitutes a &#8220;specified employee&#8221; (within the meaning of Section 409A of the
      Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;)) and becomes entitled to
      one or more payments hereunder on account of termination of employment, to
      the
      extent such payments would otherwise be subject to the excise tax under Code
      Section 409A and are payable within the first six (6) months following a
      termination of employment, such payments shall instead be made on the first
      day
      of the seventh month following such termination of employment and any remaining
      payments shall be paid according to the schedule otherwise applicable to the
      payments. For purposes of clarification, this provision shall apply to any
      severance payable to the Executive pursuant to Section 8(d) with respect to
      a
      termination of employment pursuant to Section 8(d) on or before December 31,
      2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      parties hereto intend that this Agreement shall be in compliance with Code
      Section 409A and this Agreement shall be interpreted consistent therewith.
      Notwithstanding the foregoing, the Company shall not be liable for any taxes,
      penalties, interest or other costs that may arise under Section 409A or
      otherwise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      purpose of clarification, the parties intend that the severance payable to
      the
      Executive pursuant to Sections 8(d), (e) and (f) with respect to a termination
      of employment on or after January 1, 2008 qualifies as a &#8220;short term&#8221; deferral
      pursuant to Treasury Regulation Section 1.409A-1(b)(4).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN
      WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date
      first above written.</font></div>
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                  CORPORATION</font></div>
              </td>
            </tr>
            <tr>
              <td width="50%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="46%">&#160;</td>
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              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
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                  Robert P. Belcher </font>
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                  President and Chief Executive Officer</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                  Marcy Macdonald </font>
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