Employment Agreement, dated November 18, 2014 between Concurrent Computer Corporation and Derek Elder

This EMPLOYMENT AGREEMENT, made and entered into on November 18, 2014, to be effective November 21, 2014 (the “Effective Date”) by and between CONCURRENT COMPUTER CORPORATION, a Delaware corporation ("Concurrent" or the "Company"), and Derek Elder (the "Employee").

 

WHEREAS, the Company desires to employ the Employee and the Employee desires to be employed by the Company;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the parties agree as follows:

 

1.

Employment

 

The Company hereby agrees to employ the Employee and the Employee hereby agrees to be employed by the Company for the term set forth in Section 2 below, in the position and with the duties and responsibilities set forth in Section 3 below, and upon other terms and conditions hereinafter stated.

 

2.

Term

 

The term of employment hereunder shall commence on the Effective Date and shall continue for a period of three (3) years ending on the third anniversary of the Effective Date (the “Term”).  The initial three-year Term automatically shall extend for one additional year on such third anniversary date and on each subsequent annual anniversary of such date unless the Company or the Employee notifies the other at least 120 days before such anniversary date that no such extension will be effected.

 

3.

Position; Duties; Responsibilities

 

3.1            It is intended that at all times during the Term of employment hereunder, the Employee shall serve as the Chief Executive Officer of the Company.  The Employee agrees to perform such senior executive officer and managerial services customary to such position as are necessary to the operations of the Company and as may be assigned to him from time to time by the Company's Board of Directors (the "Board of Directors").

 

3.2            Throughout the Term of employment hereunder, the Employee shall devote his full time and undivided attention during normal business hours to the business and affairs of the Company, as appropriate to his responsibilities and duties hereunder, except for reasonable vacations and illness or other disability, but nothing in this Agreement shall preclude the Employee from devoting reasonable periods required for serving as a director or member of any advisory committee of not more than two (at any time) "for profit" organizations involving no conflict-of-interest with the interests of the Company (subject to approval by the Board of Directors, which approval shall not be unreasonably withheld), or from engaging in charitable and community activities, or from managing his personal investments, provided such activities do not materially interfere with the performance of his duties and responsibilities under this Agreement.

 

4.

Compensation

 

4.1           Salary

 

For services rendered by the Employee during the Term of employment hereunder, the Employee shall be paid a salary, payable in accordance with the then existing applicable payroll policy of the Company, at an annualized rate of $340,000 per annum, such salary to be reviewed annually.

 

4.2            Annual Bonus Opportunity

 

During the Term of employment hereunder, the Employee will be eligible for a bonus opportunity under the Company’s Annual Incentive Plan, in accordance with the provisions thereof as in effect from time to time.  The Annual Incentive Plan currently provides an annual bonus opportunity in a target amount of sixty-five percent (65%) of the then current base salary with a maximum bonus of 150% of the target bonus.  The targets and objectives for each year and other terms and conditions of the bonus opportunity shall be established in advance of each year by the Compensation Committee of the Board of Directors with the input of the Chief Executive Officer.

 

4.3            Sign-on Bonus; Initial Equity Grant

 

In consideration of the Employee entering into this Agreement and as an inducement to join the Company, the Company shall: (i) pay to the Employee a one-time signing bonus in the amount of $100,000, less all applicable tax withholdings, within thirty (30) days following the Effective Date, and (ii) award to the Employee 120,000 Restricted Stock Awards (“RSAs”), subject to the approval of the Compensation Committee of the Board of Directors and subject to the terms of the Company’s Amended and Restated 2011 Stock Incentive Plan, which shall vest in two (2) equal installments on the first anniversary and the second anniversary of the Effective Date, provided the Employee is employed by the Company on such vesting date. Notwithstanding the foregoing, the RSAs shall become 100% vested in the event Employee’s employment is terminated because of death or Disability. For purposes hereof, "Disability" shall mean the inability to perform the essential functions connected with the Employee's duties hereunder, with or without reasonable accommodation, which inability shall have existed or shall reasonably be expected to exist for a period of 180 days, even though not consecutive, in any 24 month period.

 

4.4            Employee Benefit Plans

 

During the Term of employment hereunder, the Employee will be eligible to participate in all employee benefit programs of the Company now or hereafter made available to senior executives, in accordance with the provisions thereof as in effect from time to time.  In any event, the Employee shall be entitled to vacation days at the rate of four weeks per calendar year or such greater amount as may be provided by Company policies in effect from time to time.

 

4.5            Long Term Incentive Plans

 

During the Term of employment hereunder, the Employee will be eligible to participate in the annual long term incentive plans of the Company now or hereafter made available to senior executives, in accordance with the provisions thereof as in effect from time to time, and as deemed appropriate by the Compensation Committee to be applicable to this position.

 

4.6            Business Expense Reimbursements

 

During the Term of employment hereunder, the Employee will be entitled to receive reimbursement by the Company for all reasonable out-of-pocket expenses incurred by him (in accordance with the policies and procedures established by the Company for its senior executives), in connection with his performing services hereunder.  Reimbursements shall be made in accordance with Employer’s normal expense reimbursement policies and procedures for its senior executives (including timing), and such reimbursements will be made no later than the last day of the Employee’s taxable year following the taxable year in which the expense was incurred.  The expenses reimbursed by Employer during any taxable year of the Employee will not affect the expenses paid by Employer in another taxable year.  This right to reimbursement is not subject to liquidation or exchange for another benefit.

 

5.

Consequences of Termination of Employment

 

5.1           Termination by the Company for Due Cause

 

 Nothing herein shall prevent the Company from terminating the employment of the Employee for Due Cause.  The Employee shall be entitled to salary and bonus accrued and due through the period ending on the date of his termination, the bonus, if any, earned but not paid for the fiscal year ending prior to his termination and any other rights and benefits he may have under the employee benefit plans and programs of the Company, generally, shall be determined in accordance with the terms of such plans and programs.  The term "Due Cause", as used herein, shall mean that (a) the Employee has committed a willful serious act, such as embezzlement, against the Company intended to enrich himself at the expense of the Company or has been convicted of a felony involving moral turpitude; (b) the Employee has (i) willfully and grossly neglected his duties hereunder or (ii) intentionally failed to observe specific lawful directives or policies of the Board of Directors, which directives or policies were consistent with his positions, duties and responsibilities hereunder, and which failure had, or continuing failure will have, a material adverse effect on the Company; (c) the Employee's undertaking to provide any chief executive officer certification required under the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley Act") without taking reasonable and appropriate steps to determine whether the certification was accurate; or (d) the Employee's failure to fulfill any of his duties under, or violation of any provision of, the Sarbanes-Oxley Act, including, but not limited to, failure to establish and administer effectively systems and controls necessary for compliance with the Sarbanes-Oxley Act.  Prior to any such termination, the Employee shall be given written notice by the Board of Directors that the Company intends to terminate his employment for Due Cause under this Section 5.1, which written notice shall specify the particular acts or omissions on the basis of which the Company intends to so terminate the Employee's employment, and the Employee (with his counsel, if he so chooses) shall be given the opportunity, within 15 days of his receipt of such notice, to have a meeting with the Board of Directors to discuss such acts or omissions and given reasonable time to remedy the situation, if it is deemed by the Board of Directors, in their good faith business judgment, to be remediable.  In the event of such termination, the Employee shall be promptly furnished written specification of the basis therefor in reasonable detail.

 

5.2           Termination by the Company other than for Due Cause

 

(a)          The foregoing notwithstanding, the Company may terminate the Employee's employment for whatever reason it deems appropriate; provided, however, that in the event such termination is for reasons other than

 

(1)            the Employee’s death or disability, or

 

(2)            Due Cause as provided in Section 5.1 above, or

 

(3)            the Employee’s election not to renew the Term for an additional period pursuant to Section 2 above,

 

then the Employee will be entitled to receive Severance Compensation (as defined below) provided Employee executes a release in a form acceptable to the Company and required with respect to similarly-situated executives, and such release becomes irrevocable.

 

5.3           Termination Following Change of Control

 

If there is a "change of control" (defined below) and within one year after such "change of control", the Employee's employment is terminated by the Company (other than for Due Cause, death, disability or non-renewal of the Term by Employee), or within three months after a “change in control” Employee has a constructive termination of employment without Due Cause pursuant to Section 5.4 below, the Employee will (subject to executing a release in a form acceptable to the Company and required with respect to similarly-situated executives, and such release becoming irrevocable) be entitled to receive Severance Compensation as described in Section 5.2(a); provided, if Employee’s employment is terminated by the Company (other than for Due Cause, death, disability or non-renewal of the Term by Employee), the amount of Employee’s Severance Compensation described in Sections 5.2(a)(i) and (ii) shall be multiplied by two (2). To the extent applicable, payments pursuant to this Section 5.3 shall be subject to the payment restrictions of Section 5.2(b).

 

A "change of control" shall have the same meaning as in the Amended and Restated 2011 Stock Incentive Plan, as amended from time to time.  (A copy of the current definition is attached as Exhibit A.)

 

5.4           Constructive Termination of Employment by the Company without Due Cause

 

Anything herein to the contrary notwithstanding, if the Company:

 

(a)          demotes or otherwise elects or appoints the Employee to a lesser office than set forth in Section 3.1 or fails to elect or appoint him to such position; or

 

(b)          causes a material change in the nature or scope of the authorities, powers, functions, duties or responsibilities attached to the Employee's position as described in Section 3.1; or

 

(c)           materially decreases the Employee's salary or annual bonus opportunity below the most recent levels provided for by the terms of Sections 4.1 and 4.2; or

 

(d)          materially reduces the Employee's benefits under any employee benefit plan, program, or arrangement of the Company (other than a change that affects all employees similarly situated) from the level in effect upon the Employee's commencement of participation; or

 

(e)           commits any other material breach of this Agreement,

 

then such action (or inaction) by the Company, unless consented to in writing by the Employee, shall constitute a termination of the Employee's employment by the Company other than for Due Cause pursuant to Section 5.2 above.  If, within thirty (30) days of learning of the action (or inaction) described herein as a basis for a constructive termination of employment, the Employee (unless he has given written consent thereto) notifies the Company in writing that he wishes to effect a constructive termination of his employment pursuant to this Section 5.4, and such action (or inaction) is not reversed or otherwise remedied by the Company within 30 days following receipt by the Company of such written notice, then effective at the end of such second 30 day period, the employment of the Employee hereunder shall be deemed to have terminated pursuant to Section 5.2 above and the Employee shall (subject to the terms and conditions set forth in such section, including executing a release in a form acceptable to the Company and required with respect to similarly-situated executives, and such release becoming irrevocable) be paid severance under Section 5.2.

 

5.5            Voluntary Termination by the Employee

 

In the event the Employee terminates his employment of his own volition (other than as provided in Section 5.4 above), or the Term of employment terminates due to an election by the Employee not to renew the Term pursuant to Section 2 above, such termination shall constitute a voluntary termination and in such event the Employee shall be limited to the same rights and benefits as provided in connection with termination for Due Cause under the second sentence of Section 5.1 above.  For the purposes hereof, a decision by the Employee to voluntarily retire shall constitute a voluntary termination.

 

5.6            Other Resignations

 

In the event the Employee's employment with the Company is terminated (either by the Company or by the Employee), the Employee acknowledges and agrees that he will resign from any and all other positions that the Employee then holds as an employee, officer or director of (a) the Company and (b) the Company's subsidiaries and affiliates.

 

5.7            Payment Date and Section 409A.

The Company may choose to make salary continuation payments called for under this Agreement on its regular payroll closest to the Pay Date called for under this Agreement; provided that payment on such regular payroll date is in compliance with Section 409 of the Code.  Furthermore, any payments to be made under this Agreement on a “termination of employment” shall only be made if and when such termination of employment constitutes a “separation from service” within the meaning of Section 409A of the Code.

Concurrently with entering into this Agreement, the Employee will enter into a Protective Agreement in favor of the Company substantially in the form attached as Exhibit B hereto (the "Protective Agreement").

 

7.

Successors and Assigns

 

7.1           Assignment by the Company

 

This Agreement shall be binding upon and inure to the benefit of the Company or any corporation or other entity to which the Company may transfer all or substantially all its assets and business and to which the Company may assign this Agreement, in which case "Company" as used herein shall mean such corporation or other entity.

 

7.2           Assignment by the Employee

 

The Employee may not assign this Agreement or any part thereof without the prior written consent of the Company, which consent may be withheld by the Company for any reason it deems appropriate.

 

8.

Arbitration

 

Except as provided below, any disputes or claims of any kind or nature, including as to arbitrability under this Agreement, between the Employee and the Company arising out of, related to, or in connection with any aspect of the Employee’s employment with the Company or its termination, including all claims arising out of this Agreement and claims for alleged discrimination, harassment, or retaliation in violation of Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, 42 U.S.C. § 1981, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act, the Employee Retirement Income Security Act of 1974, or any other federal, state, or local law, shall be settled by final and binding arbitration in  Fulton County, Georgia.  Either party may file a written demand for arbitration with the American Arbitration Association pursuant to its National Rules for the Resolution of Employment Disputes.  The arbitration shall be conducted by a single neutral arbitrator who is a member of the Bar of the State of Georgia, has been actively engaged in the practice of law for at least fifteen (15) years, and has substantial experience in connection with business transactions and interpretation of contracts.  In considering the relevancy, materiality, discoverability, and admissibility of evidence, the arbitrator shall take into account, among other things, applicable principles of legal privilege, including the attorney-client privilege, the work product doctrine, and appropriate protection of the Company’s Trade Secrets and Confidential Information.  Upon the request of either party, the arbitrator’s award shall be written and include findings of fact and conclusions of law.  Judgment on the award rendered by the arbitrator may be entered by any court having jurisdiction.  Any arbitration of any claim by the Employee may not be joined or consolidated with any other arbitration(s) by or against the Company, including through class arbitration.  The prevailing party in any such arbitration, or in any action to enforce this Section or any arbitration award hereunder, shall be entitled to recover that party’s attendant attorneys’ fees and related expenses from the other party to the maximum extent permitted by law.  The Company shall be responsible for payment of all mediation and arbitration filing and administrative fees, and all fees and expenses of the mediator or arbitrators, irrespective of the outcome, as to any federal statutory claims by the Employee or as may otherwise be required by law for this Agreement to be enforceable.  Notwithstanding any other provision of this Agreement, the Company may seek temporary, preliminary, or permanent injunctive relief against the Employee at any time without resort to arbitration.  The parties agree that this Agreement involves interstate commerce and that this arbitration provision is therefore subject to and governed by the Federal Arbitration Act.  The parties confirm their agreement by initialing below:

9.

Governing Law

 

This Agreement shall be deemed a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of Georgia (without reference to the principles of conflicts of law).

 

10.

Entire Agreement

 

This Agreement, including the Protective Agreement, contains all the understandings and representations between the parties hereto pertaining to the subject matter hereof and supersedes all undertakings and agreements, whether oral or in writing, if any there be, previously entered into by them with respect thereto.

 

11.

Amendment or Modification; Waiver

 

No provision in this Agreement may be amended or waived unless such amendment or waiver is agreed to in writing, signed by the Employee and an officer of the Company thereunto duly authorized.  Except as otherwise specifically provided in this Agreement, no waiver by any party hereto of any breach by another party hereto of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of a similar or dissimilar provision or condition at the same or any prior or subsequent time.

 

12.

Notices

Any notice to be given hereunder shall be in writing and delivered personally or sent by certified mail, postage prepaid, return receipt requested, addressed to the party concerned at the address indicated below or to such other address as such party may subsequently give notice of hereunder in writing:

 

4375 River Green Parkway

Duluth, GA 30096

Attn: Chairman, Board of Directors

With a copy to:

King & Spalding LLP

1180 Peachtree Street, N.E.

Atlanta, GA 30309-3521

Attn: Keith Townsend

EMPLOYEE:

The Employee’s residential address as currently on file with the Company.

13.

Severability

 

In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions or portions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law.

 

14.

Withholding

 

Anything to the contrary notwithstanding, all payments required to be made by the Company hereunder to the Employee or his estate or beneficiaries, shall be subject to withholding of such amounts relating to taxes as the Company may reasonably determine it should withhold pursuant to any applicable law or regulation.  In lieu of withholding such amounts, in whole or in part, the Company may, in its sole discretion, accept other provision for payment of taxes as required by law, provided it is satisfied that all requirements of law affecting its responsibilities to withhold such taxes have been satisfied.

 

15.

Survivorship

 

The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.

 

16.

References

 

References in this Agreement to the Employee shall be deemed, where appropriate, to refer to his legal representatives.

 

17.

Titles

 

Titles to the sections in this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the title of any section.

 

18.

Counterparts

 

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

 

19.

Claw-Back Policy

 

Any incentive based compensation, or any other compensation, paid or payable to the Employee pursuant to this Agreement or any other agreement or arrangement with the Company, which is subject to recovery under any law, government regulation, order or stock exchange listing requirement, will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock exchange listing requirement (or any policy of the Company adopted pursuant to any such law, government regulation, order or stock exchange listing requirement). The Employee specifically authorizes the Company to withhold from future wages any amounts that may become due under this provision; provided, however, nothing in this provision is intended to permit a change in the terms of payment of any deferred compensation subject to Section 409A in any manner that would violate or create a plan failure under Section 409A. This Section 19 shall survive the termination of this Agreement for a period of three (3) years.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written to be effective as of the Effective Date.

 

NOTE:  The following definition is included for informational purposes only and will change if, and to the extent that, the Concurrent Computer Corporation Amended and Restated 2011 Stock Incentive Plan (“2011 Stock Incentive Plan”) is amended.  All capitalized terms in this Exhibit A are defined in the 2011 Stock Incentive Plan.

 “Change of Control” means the occurrence of any of the following events:

(a)                 the acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d), and 14(d) of the Exchange Act and the rules thereunder, including, without limitation, Rule 13d-5(b)) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors (“voting securities”) of the Company that represent 50% or more of the combined voting power of the Company’s then outstanding voting securities, other than:

(i)

an acquisition by a trustee or other fiduciary holding securities under any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company, or

(ii)

an acquisition of voting securities by the Company or a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the stock of the Company, or

(iii)

an acquisition of voting securities pursuant to a transaction described in clause (c) below that would not be a Change of Control under clause (c);

(b)                 a change in the composition of the Board that causes less than a majority of the directors of the Company to be directors that meet one or more of the following descriptions:

(i)

a director who has been a director of the Company for a continuous period of at least 24 months, or

(ii)

a director whose election or nomination as director was approved by a vote of at least two-thirds of the then directors described in clauses (b)(i), (ii), or (iii) by prior nomination or election, but excluding, for the purpose of this sub clause (ii), any director whose initial assumption of  office occurred as a result of an actual or threatened (y) election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person or group other than the Board or (z) tender offer, merger, sale of substantially all of the Company’s assets, consolidation, reorganization, or business combination that would be a Change of Control under clause (c) on consummation thereof, or

(iii)

who were serving on the Board as a result of the consummation of a transaction described in clause (c) that would not be a Change of Control under clause (c);

(c)                the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each case, other than in a transaction

(i)

that results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least 50% of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and

(ii)

after which more than 50% of the members of the board of directors of the Successor Entity were members of the Board at the time of the Board’s approval of the agreement providing for the transaction or other action of the Board approving the transaction (or whose election or nomination was approved by a vote of at least two-thirds of the members who were members of the Board at that time), and

(iii)

after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity, unless the Board determines in its discretion that beneficial ownership by a person or group of voting securities representing 50% or more of the combined voting power of the Successor Entity shall not be deemed a Change of Control; or

(d)                a liquidation or dissolution of the Company.

For purposes of clarification, an acquisition of Company securities by the Company that causes the Company’s voting securities beneficially owned by a person or group to represent 50% or more of the combined voting power of the Company’s then outstanding voting securities is not to be treated as an “acquisition” by any person or group for purposes of clause (a) above.  For purposes of clause (a) above, the Company makes the calculation of voting power as if the date of the acquisition were a record date for a vote of the Company’s stockholders, and for purposes of clause (c) above, the Company makes the calculation of voting power as if the date of the consummation of the transaction were a record date for a vote of the Company’s stockholders.

 

I, the undersigned, in consideration of and as a condition to my employment by Concurrent Computer Corporation (the "Company"), do hereby agree with the Company as follows:

 

1.               Non-compete and Non-solicitation of Customers or Employees.  During my employment by the Company, I will devote my full time and best efforts to the business of the Company and I will not, directly or indirectly, alone or as a partner, officer, director, employee or holder of more than 5% of the common stock of any other organization, engage in any business activity which competes directly or indirectly with the products or services being developed, manufactured or sold by the Company.  I also agree that, following any termination of such employment, I will not, directly or indirectly, for any period in which I receive severance payments from the Company, plus one (1) year (but in no event for a period of more than two (2) years following the date of termination of my employment), (a) engage in or provide any services of the type that I provided to the Company at any time during the last twelve (12) months of my employment to or on behalf of any person or entity that competes with the Company in the "real time" or "video-on-demand" businesses anywhere in the continental United States, which I acknowledge and agree is the primary geographic area in which the Company competes in these businesses and thus, by virtue of my senior executive position and responsibilities with the Company, also the primary geographic area of my employment with the Company, (b) solicit or attempt to solicit, for the purpose of competing with the Company in its "real time" or "video-on-demand" businesses, any customers or active prospects of the Company with which I had any material business contact for or on behalf of the Company at any time during the last twelve (12) months of my employment, or (c) recruit or otherwise seek to induce any employees of the Company to terminate their employment or violate any agreement with the Company.

 

2.               Trade Secrets and Other Confidential Information.  Except as may be required in the performance of my duties with the Company, or as may be required by law, I will not, whether during or after termination of my employment with the Company, reveal to any person or entity or use any Confidential Information.   For purposes of this Agreement, “Confidential Information” means trade secrets and other confidential information relating to the business of the Company that has value to the Company and is not generally known to its competitors.  Confidential Information includes, but is not limited to, lists of actual or prospective customers, details of customer contracts, current or anticipated customer requirements, pricing policies, price lists, business plans, licensing strategies, operational methods, marketing plans or strategies, product development techniques, computer software programs (including object code and source code), data and documentation, data base technologies, systems, structures and architectures, research and development, financial information, information regarding recruitment and hiring activities, and personnel information.  Confidential Information includes trade secrets (as defined under Georgia law) as well as information that does not rise to the level of a trade secret.  However, Confidential Information does not include any data or information that has been voluntarily disclosed to the public by the Company (except where such public disclosure has been made by me without authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means. I understand that my obligations as set forth in this Paragraph 2 are in addition to and not in lieu of any other obligations I may have to protect Confidential Information (including, but not limited to, obligations arising under the Company’s policies, ethical rules, and applicable law), and such obligations will continue for so long as the information in question continues to constitute Confidential Information.

 

In the event I am requested or required pursuant to any legal, governmental, or investigatory proceeding or process or otherwise to disclose any Confidential Information following the termination of my employment, I agree to promptly notify the Company in writing prior to disclosing any such Confidential Information (unless such notification would be prohibited by law) so that the Company may seek a protective order or other appropriate remedy.  I agree to cooperate with the Company to preserve the confidentiality of such Confidential Information consistent with applicable law or court order and to use my best efforts to limit any such disclosure to the minimum disclosure necessary to comply with such law or court order.

 

Further, I agree that any and all documents, disks, databases, notes, or memoranda prepared by me or others and containing Confidential Information shall be and remain the sole and exclusive property of the Company, and that upon termination of my employment or prior request of the Company I will immediately deliver all of such documents, disks, databases, notes or memoranda, including all copies, to the Company at its main office.

 

Further, I agree that all Company property, such as, but not limited to cell phone(s), personal computers, software, PDAs, etc., shall be and remain the sole and exclusive property of the Company, and that upon termination of my employment or prior request of the Company I will immediately return all such property, to the Company.

 

3.               Inventions and Copyrights.  If at any time or times during my employment (or within six (6) months thereafter if based on Confidential Information within the meaning of Paragraph 2 above), I make or discover, either alone or with others, any invention, modification, development, improvement, process or secret, whether or not patented or patentable (collectively, "inventions") in the field of computer science or instrumentation, I will disclose in reasonable detail the nature of such invention to the Company in writing, and if it relates to the business of the Company or any of the products or services being developed, manufactured or sold by the Company, such invention and the benefits thereof shall immediately become the sole and absolute property of the Company provided the Company notifies me in reasonable detail within ninety (90) days after receipt of my disclosure of such invention that it believes such invention relates to the business of the Company or any of the products or services being developed, manufactured or sold by the Company.  I also agree to transfer such inventions and benefits and rights resulting from such inventions to the Company without compensation and will communicate without cost, delay or prior publications all available information relating to the inventions to the Company.  At the Company's expense I will also, whether before or after termination of my employment, sign all documents (including patent applications) and do all acts and things that the Company may deem necessary or desirable to effect the full assignment to the Company of my right and title to the inventions or necessary to defend any opposition thereto.  I also agree to assign to the Company all copyrights and reproduction rights to any materials prepared by me in connection with my employment.

 

4.              Conflicting Agreements.  I represent that I have attached to this Agreement a copy of any written agreement, or a summary of any oral agreement, which presently affects my ability to comply with the terms of this Agreement, and that to the best of my knowledge my employment with the Company will not conflict with any agreement to which I am subject.  I have returned all documents and materials belonging to any of my former employers.  I will not disclose to the Company or induce any of the Company's employees to use trade secrets or confidential information of any of my former employers.

 

5.               Miscellaneous.

 

(a)            I hereby give the Company permission to use photographs of me, during my employment, with or without using my name, for any reasonable business purposes the Company deems necessary or desirable.

 

(b)            The Company shall have, in addition to any and all remedies at law, the right to an injunction, specific performance and other equitable relief, without posting any bond or other security, as may be appropriate to prevent the violation of my obligations hereunder.

 

(c)            I understand that this Agreement does not create an obligation on the Company or any other person to continue my employment for any period of time.

 

(d)            This Agreement shall be construed in accordance with the laws of the State of Georgia.  I agree that each provision of this Agreement shall be treated as a separate and independent clause, and the unenforceability of any clause shall in no way impair the enforceability of any of the other clauses. Moreover, if it is determined by a court of competent jurisdiction that any restrictive covenant set forth in this Agreement is excessive in duration or scope or is unreasonable or unenforceable, it is the intent of the parties that such restriction may be modified by the court to render it enforceable to the maximum extent permitted by law.

 

(e)            My obligations under this Agreement shall survive the termination of my employment regardless of the manner of such termination for the time periods set forth in this Agreement, and shall be binding upon my heirs, executors and administrators.

 

(f)            The term "Company" as used in this Agreement includes Concurrent Computer Corporation and any of its subdivisions or affiliates.  The Company shall have the right to assign this Agreement to its successors and assigns.

 

(g)            The foregoing is the entire agreement between the Company and me with regard to its subject matter, and may not be amended or supplemented except by a written instrument signed by both the Company and me.  The section headings are inserted for convenience only, and are not intended to affect the meaning of this Agreement.