Term Contract Clauses (29,670)

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... intention 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... thereby, 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)... years 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... Short 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

Term. The term of Executive's employment under this Agreement shall commence on the date hereof and shall continue until terminated by either party in accordance with Section 6 hereof (the "Employment Term").

Term. The term of the Agreement shall begin on the Effective Date and run through the earlier of (i) such date that Chairman is not re-elected to the Board, and (ii) April 1, 2013 (the "Term") provided, however, that the Board agrees to use its best efforts to cause Chairman to be re-elected to the Board in 2013 provided the Agreement has been renewed for an additional term, unless Chairman has engaged in activity that would have constituted dismissal for Cause as that term is defined in the... Employment Agreement. View More