Term Contract Clauses (8,450)

Term. This Agreement is effective as of the date first set forth above, and will continue in effect for a period of ten (10) years (the "Initial Term"), and for succeeding periods of the same duration (each, "Subsequent Term"), until terminated by one of the following means either during the Initial Term or thereafter. The period during which this Agreement is effective is referred to as the "Term." (a) Mutual Consent. This Agreement may be terminated at any time by the mutual consent of the Parties, ...evidenced by an agreement in writing signed by both Parties. (b) Termination by DSHK. This Agreement may be terminated by DSHK ((i) upon written notice delivered to DSBT no later than ten (10) calendar days before the expiration of the Initial Term or any Subsequent Term; or (ii) at any time by upon ninety (90) calendar days' written notice delivered to DSBT. (c) Breach or Insolvency. Either of DSBT or DSHK may terminate this Agreement immediately (a) upon the material breach by the other of its obligations hereunder and the failure of such Party to cure such breach within thirty (30) working days after written notice from the non-breaching Party; or (b) upon the filing of a voluntary or involuntary petition in bankruptcy by the other or of which the other is the subject, or the insolvency of the other, or the commencement of any proceedings placing the other in receivership, or of any assignment by the other for the benefit of creditors. 7 (d) Consequences of Termination. Upon any effective date of any termination of this Agreement: (i) DSHK will instruct all management personnel identified or provided by it to DSBT to cease working for DSBT; (ii) DSHK will deliver to DSBT all chops and seals of DSBT; (iii) DSHK will deliver to DSBT, or grant to DSBT unrestricted access to and control of, all of the financial and other books and records of DSBT, including any and all permits, licenses, certificates and other proprietary and operational documents and instruments; (iv) DSHK will cooperate fully in the replacement of any signatories or persons authorized to act on behalf of DSBT with persons appointed by DSBT; and (v) any licenses granted by DSHK to DSBT during the Term will terminate unless otherwise agreed by the Parties. (e) Survival. The provisions of Section 14 (Indemnification; Hold Harmless), Section 15 (Dispute Resolution), Section 16(d) (Consequences of Termination) and Section 17 (Miscellaneous) will survive any termination of this Agreement. Any amounts owing from any Party to any other Party on the effective date of any termination under the terms of this Agreement will continue to be due and owing despite such termination. View More

Term. This Agreement shall become effective as of the Effective Date and, unless otherwise terminated in accordance with the provisions of Section 4 of this Agreement, will continue until the Services have been satisfactorily completed and the Developer has been paid in full for such Services (the "Term").

Term. The initial term ("Initial Term") of employment under this Agreement shall commence and this Agreement shall be effective as of the Effective Date and shall continue for a period ending on December 31, 2015, unless sooner terminated in accordance with the terms hereof. The Initial Term shall be automatically extended for additional one-year periods (each such year an "Extended Term") on the same terms and conditions set forth in this Agreement, unless either party provides notice of his or its i...ntention not to extend this Agreement at least ninety (90) days prior to the expiration of the Initial Term or, if previously extended, any Extended Term. The Initial Term and any Extended Term may be collectively referred to in this Agreement as the "Term." 2.Employment Duties. (a) Position. Commencing upon the Effective Date and continuing through the period of the Executive's employment by the Company, the Executive shall serve as President of the Company and shall have the duties, responsibilities and authority set forth on Exhibit A to this Agreement. The Executive shall report to the Chief Executive Officer of the Company. (b) Obligations. The Executive agrees to devote his full business time and attention to the business and affairs of the Company. The foregoing, however, shall not preclude the Executive from (i) serving on corporate, civic or charitable boards or committees or managing personal investments, so long as such activities do not, in the judgment of the Chief Executive Officer, interfere with the performance of the Executive's responsibilities hereunder; provided, however, that Executive's service on any corporate board or committee shall be subject to the prior written approval of the Chief Executive Officer or (ii) going on leave for vacation or permitted hereunder or illness; provided, however, that leave for vacation shall not interfere with the performance of the Executive's duties hereunder. View More

Term. The provisions of this Lease are effective as of the date of this Lease. The term of this Lease ("Term") shall commence on the Commencement Date and shall terminate on the Expiration Date as defined in Section 2.2. and 2.4 of the Summary, respectively, unless sooner terminated as hereinafter provided. If Landlord fails to deliver possession of the Premises on the Target Commencement Date set forth in Section 2.3 of the Summary for any reason, Landlord shall not be liable for any damages caused t...hereby, and this Lease shall not become void or voidable. Following the Commencement Date, Landlord may provide Tenant with a letter confirming the Commencement Date and the Expiration Date. The dates listed in the letter shall be binding upon the parties unless objected to in writing by Tenant within fifteen (15) days after receipt of said letter. View More

Term. The Employee's employment shall continue until it is terminated in accordance with the provisions of Section 6.

Term. This Agreement shall terminate, except to the extent that any obligation of Company hereunder remains unpaid as of such time, upon the earliest of (i) the Date of Termination (as hereinafter defined) of Executive's employment with Company as a result of Executive's death, Disability (as defined in Section 3(b)) or Retirement (as defined in Section 3(c)), by Company for Cause (as defined in Section 3(d)) or by Executive other than for Good Reason (as defined in Section 3(e)); and (ii) three (3) y...ears from the date of a Change in Control if Executive's employment with Company has not terminated as of such time. View More

Term. Section 6. entitled "Term." of the Term Note, as amended, shall be amended by changing the due date from January 10, 2016 to April 10, 2016. All other terms and conditions detailed in the Term Note, as amended, shall remain unchanged. BORROWER LENDER SofTech, Inc. EssigPR, Inc. By: /s/ Joseph P. Mullaney By: /s/ Joseph P. Daly Its: CEO Its: CEO Date: January 8, 2016 Date: January 8, 2016 EX-10.22 3 f10q113015_ex10z22.htm EXHIBIT 10.22 AMENDMENT 5 TO SHORT TERM NOTE Exhibit 10.22 Amendment 5 to S...hort Term Note AMENDMENT No. 5 TO TERM NOTE This Amendment to the Term Note ("Amendment No. 5") is dated January 8, 2016 by and among SofTech, Inc., a Massachusetts corporation with offices at 650 Suffolk Street, Suite 415, Lowell, MA 01854 (the "Borrower") and EssigPR, Inc., a Puerto Rico corporation and Joe Daly (the "Lender"). WHEREAS, the Borrower and Lender are parties to that certain Term Note dated October 1, 2014 which was amended through an agreement dated April 2, 2015 ("Amendment") and on July 15, 2015 ("Amendment No. 2") and on October 16, 2015 ("Amendment No. 3") and on November 30, 2015 ("Amendment No. 4"); WHEREAS, the Term Note, as amended, is due and payable in full on January 10, 2016; and WHEREAS, the Borrower and Lender have agreed to extend the due date an additional three months to April 10, 2016 or such earlier time as may be mutually agreed between the parties. NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein, the parties agree as follows: 1. Term. Section 6. entitled "Term." of the Term Note, as amended, shall be amended by changing the due date from January 10, 2016 to April 10, 2016. All other terms and conditions detailed in the Term Note, as amended, shall remain unchanged. BORROWER LENDER SofTech, Inc. EssigPR, Inc. By: /s/ Joseph P. Mullaney By: /s/ Joseph P. Daly Its: CEO Its: CEO Date: January 8, 2016 Date: January 8, 2016 View More

Term. Unless earlier terminated herein in accordance with Section 6 hereof, the Executive's employment with the Company shall be governed by the terms and conditions of this Agreement for a period beginning on the Effective Date and ending on December 31, 2021 (the "Term").

Term. This option shall expire five (5) years from the date hereof or such earlier date as otherwise provided for herein (the "Termination Date").

Term. This Agreement shall terminate on the earlier of (i) March 11, 2016, if the Fund has not on or before that date commenced the Tender Offer and (ii) the close of the New York Stock Exchange on the business day next following the Expiration Date, if the Funds have not accepted validly tendered ARPS for purchase pursuant to the Tender Offer by such time. In the case of termination of this Agreement pursuant to Section 7(i) and Section 7(ii), all provisions of this Agreement shall terminate and have... no further force or effect upon such termination, except that the confidentiality obligations of the parties under Section 6 hereof and the Confidentiality Agreement shall survive the termination of this Agreement for the period set forth in Section 6 hereof. In the case of the completion of the Tender Offer the obligations of the parties under Sections 2(b), 2(c) 3, 4, 5, 7 and 9 hereof shall survive the termination of this Agreement. View More