0000950124-08-001726 Sample Contracts

RESTRICTED STOCK AND REPURCHASE AGREEMENT
Restricted Stock and Repurchase Agreement • April 3rd, 2008 • Peerless Systems Corp • Services-prepackaged software • Delaware

THIS RESTRICTED STOCK AND REPURCHASE AGREEMENT (this “Agreement”) is made this 26th day of February, 2008, by and between T1 Delaware Corporation, a Delaware corporation (the “Company”), and Andrew Lombard, an individual (“Purchaser”).

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CHANGE IN CONTROL SEVERANCE AGREEMENT
Change in Control Severance Agreement • April 3rd, 2008 • Peerless Systems Corp • Services-prepackaged software • California

This Change in Control Severance Agreement (this “Agreement”), dated as of February 26, 2008 (the “Effective Date”) is made by and among Peerless Systems Corporation (“Peerless”), T1 Delaware Corporation, a Delaware corporation and wholly owned subsidiary of Peerless (the “Company”) and Andrew Lombard (the “Executive”).

PEERLESS SYSTEMS CORPORATION STOCK OPTION GRANT NOTICE AND STOCK OPTION AGREEMENT
Stock Option Agreement • April 3rd, 2008 • Peerless Systems Corp • Services-prepackaged software • Delaware

Peerless Systems Corporation, a Delaware corporation (the “Company”), pursuant to its 2005 Incentive Award Plan (the “Plan”), hereby grants to the holder listed below (“Participant”), an option to purchase the number of shares of the Company’s common stock, par value $0.001 (“Stock”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the “Stock Option Agreement”) and the Plan, which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Stock Option Agreement.

EMPLOYMENT AGREEMENT
Employment Agreement • April 3rd, 2008 • Peerless Systems Corp • Services-prepackaged software • California

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of February 26, 2008 (the “Effective Date”), by and among Peerless Systems Corporation (“Peerless”), T1 Delaware Corporation, a Delaware corporation and wholly owned subsidiary of Peerless (the “Company”), and Andrew Lombard (“Executive”).

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