Severance and Consulting Agreement and Release終止及顧問協(xié)議

-18-SeveranceandConsultingAgreementandRelease終止及顧問協(xié)議核心提示：THISISANAGREEMENT(theAgreement),datedasof_________,_________,_________(M,D,Y),betweenJJJ(JJJ)andAAA.com,Inc.,a_________(Placename)corporation(AAA).RECITALSJJJisthePresidentandCEOofAAA.Onorabout_________,_________,____THISISANAGREEMENT(theAgreement),datedasof_________,_________,_________(M,D,Y),betweenJJJ(JJJ)andAAA.com,Inc.,a_________(Placename)corporation(AAA).RECITALSJJJisthePresidentandCEOofAAA.Onorabout_________,_________,_________(M,D,Y),anAgreementandPlanofContribution(MergerAgreement)wassignedbyandamongBBB,Inc.,AAA,CCC,Inc.,DDDLLC,andEEE,Inc.Onorabout_________,_________,_________(M,D,Y),aSecondAmendedandRestatedAgreementofPlanofContribution,InvestmentandMerger(theContributionAgreement)wassignedbyandamongIII,HHHCorporation,EEE,Inc.,AAAandFFF,Inc.ReferencestoEEE,Inc.aretothepublicly-tradedcorporationthatwillresultfromthetransactionsnowbeingcontemplatedbetweenandamongAAA,BBB,Inc.,CCC,Inc.,DDDLLC,andIII,amongothercompanies.JJJandAAAdesiretoterminatetheiremploymentrelationshiponmutuallyagreeabletermsandresolveanyclaimsasdescribedinthisAgreementandtherebyavoidtheexpenseanduncertaintyoflitigation.Accordingly,JJJandAAAagreeasfollows:1.WiththeexceptionofSection17,thisAgreementwillbefullybindingandenforceableonbothJJJandAAAuponthesigningofthisAgreement(EffectiveDate)andonEEE,Inc.upontheclosingofthetransactions(Merger)referencedintheContributionAgreement.2.JJJwillcontinuetoserveasPresidentandCEOofAAAuntiltheclosingoftheMerger.3.UpontheclosingoftheMerger,JJJwillresignasPresident,ChiefExecutiveOfficer,anddirectorofAAA.4.AfterJJJ’sresignation,JJJwillmakehimselfavailableforconsultation,onaparttimebasisthrough_________,_________,_________(M,D,Y),toassistEEE,Inc.tointegratetheseveralbusinessesthatwillcompriseEEE,Inc.andwithrespecttosuchothertasksasEEE,Inc.’smanagementmayreasonablyrequest.5.JJJwillbepaidathispresentsalaryrate($,_________peryear)throughthebalanceof_________(Year)andwillreceiveanadditional$,_________asseveranceduring_________,_________(M,Y).6.JJJ’sbonusfor_________(Year)willbe$,_________forallof_________(Year).JJJwillreceivenobonusforanyperiodafter_________(Year).7.JJJ’scurrentmedical,dental,paid-time-off,lifeinsuranceandlong-termdisabilitybenefits,andentitlementtoreimbursementforbusinessandtravelexpensesasdescribedinhisEmploymentAgreement,dated_________,_________,_________(M,D,Y),andinAAAsbenefitplanswillcontinueuntilhisresignation.Thereafter,AAA(orEEE,Inc.,asitssuccessor)willonlyprovideJJJwithCOBRAbenefitsasrequiredbylaw,withAAA(orEEE,Inc.,asitssuccessor)topaytheCOBRApremiumsforcoverageuntiltheendof_________,_________(M,Y).Additionally,JJJshallbeentitledtoreimbursementsforexpensesheincursasaConsultantforAAAandEEE,Inc.subjecttoAAA’sandEEE,Inc.’spoliciesregardingdocumentationandauthorization.8.AllofJJJ’spresentunvestedAAAstockoptionsissuedpursuanttotheAAA_________(YEAR)StockIncentivePlan(OptionNo._________,_________,_________,_________(M,D,Y))shallfullyvestupontheclosingoftheMergerreferencedintheContributionAgreement.9.AllofJJJ’soutofplanoptions(OptionNo._________,_________,_________,_________(M,D,Y);OptionNumber_________,_________,_________,_________(M,D,Y);OptionNo._________,_________,_________,_________(M,D,Y);andOptionNo._________,_________,_________,_________(M,D,Y)),thatwouldotherwiseterminateinconnectionwiththeMergerwillbeamendedsothat,theyshallfullyvestupontheclosingoftheMergerreferencedintheContributionAgreement,theyareexercisablefortheirentireoriginaltermforthenumberofsharesofEEE,Inc.stockandatanexercisepricedeterminedintheaccordancewiththeContributionAgreement.10.AllofJJJ’snon-qualifiedstockoptions(OptionNo._________,_________,_________,_________(M,D,Y)OptionNo._________,_________,_________,_________(M,D,Y),OptionNo._________,_________,_________,_________(M,D,Y))(butnothisincentivestockoptionsgrantedunderAAA’s_________(YEAR)StockIncentivePlanoroutofplanoptions)willbeamendedsothat,theyshallfullyvestupontheclosingoftheMergerreferencedintheContributionAgreement,theyareexercisablefor24monthsaftertheMergerwithrespecttothenumberofshareofEEE,Inc.stockandatanexercisepricedeterminedintheaccordancewiththeContributionAgreement.11.BothduringthetimeuntiltheMergerclosesandduringthetermofhisservicesasaconsultant,JJJshallnotserveasanemployee,consultant,directororadvisortoanycompanyorotherenterprisethatisengagedinanybusinessactivitiesandwhichthencompeteswithAAAorEEE,Inc.Businessactivities,shallmeantheprovisionofcommunitywebsites,websitehosting,homepagehosting,e-mail,chatrooms,electronicnewsletters,clipart,softwarelibraries,pagecounters,onlinegreetingcardsandsoftwaredownloading,ineachsuchcaseforthepurposeoffacilitatingthedirectmarketingofgoodsandservicestopersonswhoreceivethoseservicesintheUnitedStatesorelsewhereintheworld.Inaddition,businessactivitiesshallincludeJJJ’sservingasanemployeeorconsultanttoYahoo,Excite,AmericaOnline,Lycos,Infoseek,TheGlobe,TalkCityorFortuneCity.However,ifJJJcommencesemploymentoraconsultancywithanotherentityorenterprise,isnototherwiseengaginginbusinessactivitiesinthatcapacity,andthatentityorenterprisesubsequentlyacquires,isacquiredbyorotherwisecombineswithYahoo,Excite,AmericaOnline,Lycos,Infoseek,TheGlobe,TalkCityorFortuneCity,JJJshallnotbeconsideredtobeengaginginbusinessactivitiesunlessheactuallythenengagesinoneormoreoftheactivitiesdescribedinthesecondsentenceofthisSection11.Inaddition,JJJacknowledgesthatduringhisemploymentwithAAA,hehashadaccesstoconfidentialinformationandthattheactivitiesforbiddenbytheremainderofthisSectionwouldnecessarilyinvolvetheimproperuseordisclosureofthisconfidentialinformation.Toforestallsuchdisclosure,useandbreach,andinconsiderationoftheGross-UpPaymentssetforthinSections12-15,JJJagreesthatforaperiodofsixmonthsfollowingtheterminationoftheconsultingarrangement(oruntil_________,_________,_________(M,D,Y))whicheverislonger,heshallnot,directlyorindirectly,(i)divertorattempttodivertfromAAAorEEE,Inc.anybusiness,includingthesolicitationofcustomers;or(ii)engageinanybusinessactivities,asdefinedabove,competitivewithAAAorEEE,Inc.unlessJJJprovesincourtthatanyoftheaboveactionwasdonewithouttheuseofconfidentialinformation.IfJJJbreachesorthreatenstobreachanyoftheprovisionsofthisSection,JJJacknowledgesandagreesthatthedamageorimminentdamagetoAAA’sandEEE,Inc.’sbusinessortheirgoodwillwouldbeirreparableandextremelydifficulttoestimate,makinganyremedyatlaworindamagesinadequate.Accordingly,AAAandEEE,Inc.shallbeentitledtoinjunctivereliefagainstJJJintheeventofanybreachorthreatenedbreachofthisSectionbyJJJand,intheeventofanyactualbreach,toliquidateddamagesofthetotalamountoftheGross-UpPaymentsetforthinSections12to15whichshallconstituteareasonableestimateofAAA’sandEEE,Inc.’sdamagesandnotapenalty(LiquidatedDamages).TheamountofLiquidatedDamagesshallbereducedinequalamountsonamonthlybasisfromthedateoftheclosingoftheMergerthrough_________,_________,_________(M,D,Y)(e.g.,overtwelvemonthstheLiquidatedDamagesamountwillbereducedby1/12eachmonth),withoutconsiderationofanypartialmonths.SuchinjunctivereliefandLiquidatedDamagesshallconstitutethesoleremediesforanybreachbyJJJofthisSection11.12.Intheeventthatanyparachutepayment(withinthemeaningofSection280G(b)(2)oftheInternalRevenueCodeof1986,asamended(theCode))toJJJorforJJJ’sbenefit,paidorpayableordistributedordistributablepursuanttothetermsofthisAgreementorotherwiseinconnectionwith,orarisingoutof,JJJ’semploymentwithAAA(aPaymentorPayments),wouldbesubjecttotheexcisetaximposedbyCodeSection4999,oranyinterestorpenaltiesareincurredbyJJJwithrespecttosuchexcisetax(suchexcisetax,togetherwithanysuchinterestandpenalties,arehereinaftercollectivelyreferredtoastheExciseTax),thenJJJwillbeentitledtoreceiveanadditionalpayment(aGross-UpPayment)inanamountsuchthatafterpaymentbyJJJofalltaxes(includinganyinterestorpenalties(otherthaninterestandpenaltiesimposedbyreasonofJJJ’sfailuretofiletimelyataxreturnorpaytaxesshowndueonJJJ’sreturnnotoccasionedbyactsoromissionsofAAAorEEE,Inc.oritsortheiraccountingfirm),imposedwithrespecttotheGross-UpPaymentincluding,withoutlimitation,anyandallexcisetaxesimposedbyCodeSection4999andallincometaxes),JJJretainsanamountoftheGross-UpPaymentequaltotheExciseTaximposeduponthePayments.13.AninitialdeterminationastowhetheraGross-UpPaymentisrequiredpursuanttothisAgreementandtheamountofsuchGross-UpPaymentshallbemadebyAAAorEEE,Inc.AAAorEEE,Inc.shallprovideitsdetermination(theDetermination),togetherwithdetailedsupportingcalculationsanddocumentation,toJJJwithinareasonabletimeafterJJJ’sresignation,ifapplicable,orsuchothertimeasrequestedbyJJJ(providedJJJreasonablybelievesthatanyofthePaymentsmaybesubjecttotheExciseTax).IfrequestedbyJJJ,AAAorEEE,Inc.shallfurnishJJJ,atAAA’sorEEE,Inc.’sexpense,withanopinionreasonablyacceptabletoJJJfromAAA’sorEEE,Inc.’sregularindependentaccountingfirm(oranaccountingfirmofequivalentstaturereasonablyacceptabletoJJJ)thatthereisareasonablebasisfortheDetermination.AnyGross-UpPaymentdeterminedpursuanttothisSection13shallbepaidbyAAAorEEE,Inc.toJJJwithinfive(5)daysofreceiptoftheDetermination.14.ItispossiblethataGross-UpPayment(oraportionthereof)willbepaidwhichshouldnothavebeenpaid(anExcessPayment)oraGross-UpPayment(oraportionthereof)whichshouldhavebeenpaidwillnothavebeenpaid(anUnderpayment).(a)AnUnderpaymentshallbedeemedtohaveoccurred(i)uponareasonabledetermination,ingoodfaith,byJJJ’staxadvisorsthattheGross-UpPaymentissubjecttoatax,alloraportionofwhichwasnottakenintoaccountincomputingtheGross-UpPayment;(ii)uponnotice(formalorinformal)toJJJfromanygovernmentaltaxingauthoritythatJJJ’staxliability(whetherinrespectofJJJ’scurrenttaxableyearorinrespectofanypriortaxableyear)maybeincreasedbyreasonoftheimpositionoftheExciseTaxonaPaymentorPaymentswithrespecttowhichAAAorEEE,Inc.hasfailedtomakeasufficientGross-UpPaymentorbyreasonoftheimpositionofanytaxontheGross-UpPayment,alloraportionofwhichwasnottakenintoaccountincomputingtheGross-UpPayment,(iii)uponadeterminationbyacourt,or(iv)byreasonofdeterminationbyAAAorEEE,Inc.(whichshallincludethepositiontakenbyAAAorEEE,Inc.,togetherwithitsconsolidatedgroup,onitsfederalincometaxreturn).IfanUnderpaymentoccurs,JJJshallpromptlynotifyAAAorEEE,Inc.andAAAorEEE,Inc.shallpromptly,butinanyeventatleastfive(5)dayspriortothedateonwhichtheapplicablegovernmenttaxingauthorityhasrequestedpayment,paytoJJJanadditionalGross-UpPaymentequaltotheamountoftheUnderpaymentplusanyinterestandpenalties(otherthaninterestandpenaltiesimposedbyreasonofJJJ’sfailuretofiletimelyataxreturnorpaytaxesshowndueonJJJ’sreturnnotoccasionedbytheactsoromissionsofAAAorEEE,Inc.oritsortheiraccountingfirm)imposedontheUnderpayment.(b)AnExcessPaymentshallbedeemedtohaveoccurreduponaFinalDetermination(ashereinafterdefined)thattheExciseTaxshallnotbeimposeduponaPaymentorPayments(orportionthereof)withrespecttowhichJJJhadpreviouslyreceivedaGross-UpPayment.AFinalDeterminationshallbedeemedtohaveoccurredwhenJJJhasreceivedfromtheapplicablegovernmenttaxingauthorityarefundoftaxesorotherreductioninJJJ’staxliabilitybyreasonoftheExcisePaymentanduponeither(i)thedateadeterminationismadeby,oranagreementisenteredintowith,theapplicablegovernmentaltaxingauthoritywhichfinallyandconclusivelybindsJJJandsuchtaxingauthority,orintheeventthataclaimisbroughtbeforeacourtofcompetentjurisdiction,thedateuponwhichafinaldeterminationhasbeenmadebysuchcourtandeitherallappealshavebeentakenandfinallyresolvedorthetimeforallappealshasexpiredor(ii)thestatuteoflimitationswithrespecttoJJJ’sapplicabletaxreturnhasexpired.IfanExcessPaymentisdeterminedtohavebeenmade,theamountoftheExcessPaymentshallbetreatedasaloanbyAAAorEEE,Inc.toJJJ,whichloanJJJmustrepaytoAAAorEEE,Inc.togetherwithinterestattheapplicablefederalrateunderCodeSection7872(f)(2);provided,thatnoloanshallbedeemedtohavebeenmadeandnoamountwillbepayablebyJJJtoAAAorEEE,Inc.unless,andonlytotheextentthat,thedeemedloanandpaymentwouldeitherreducetheamountonwhichJJJissubjecttotaxunderCodeSection4999orgeneratearefundoftaximposedunderCodeSection4999.15.NotwithstandinganythingcontainedinthisAgreementtothecontrary,intheeventthat,accordingtotheDetermination,anExciseTaxwillbeimposedonanyPaymentorPayments,AAAorEEE,Inc.shallpaytotheapplicablegovernmenttaxingauthorities,asExciseTaxwithholding,theamountoftheExciseTaxthatAAAorEEE,Inc.hasactuallywithheldfromthePaymentorPayments.16.ToreflectJJJ’sadditionalresponsibilitiesinconnectionwiththetransitiontoandintegrationofthebusinessesthatwillcompriseEEE,Inc.(including,forexample,theselectionandtrainingofaPresidentandChiefOperatingOfficerforEEE,Inc.),on_________,_________,_________(M,D,Y)AAAhasgrantedJJJadditionaloptionstopurchase25,000sharesofAAAstock.ThoseoptionswillvestratablyinmonthlyincrementsthroughtheendofDecember_________(Year).Theyhaveanexercisepriceof$,_________pershare.ThoseoptionsshallbecomeoptionsforthepurchaseofEEE,Inc.stockupontheclosingoftheMergerreferencedintheContributionAgreementandinaccordancewiththeContributionAgreement.ThetermsandconditionsofthoseoptionsarememorializedinaseparateStockOptionAgreementandrelatedNoticeofStockOptionGrant.17.ThepartiesshallattempttonegotiatearrangementsregardingaEEE,Inc.EuropethatwouldpursuetheEEE,Inc.businessinEurope.However,thisSection17shallnotimpose