Exhibit 10.1

SECOND AMENDMENT TO

EMPLOYMENT AGREEMENT

THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the “ Second Amendment ”) is entered into by and between CCUR Holdings, Inc. (fka Concurrent Computer Corporation), a Delaware corporation (“ CCUR ”), and Warren Sutherland (the “ Employee ”) effective as of the 1 ^st day of January 2019 (the “ Effective Date ”).

RECITALS:

WHEREAS, CCUR and Employee are parties to that certain Employment Agreement dated May 15, 2017, as amended by the First Amendment to Employment Agreement dated January 30, 2018 (collectively the “ Agreement ”); unless otherwise noted, all section references used herein are to the specific sections of the Agreement, pursuant to which CCUR has employed Employee; and

WHEREAS, CCUR and Employee now mutually desire to amend certain terms and conditions of the Agreement.

WITNESSETH:

NOW THEREFORE, for and in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, CCUR and Employee hereby agree as follows:

“2.1      The term of employment (the “Term”) hereunder shall commence on the date hereof and continue until March 1, 2020 (the “Initial Term”) unless earlier terminated pursuant to Sections 4.1- 4.7. Unless notice of non-renewal is provided by either party at least ninety (90) days prior to the end of the Initial Term, the Term will automatically extend beyond the Initial Term on an ongoing basis until employment is terminated under Sections 4.1-4.7.

“During the Term of employment hereunder, the Employee will be eligible for a bonus opportunity under the Company’s annual bonus program (the “ NAV Program "), which currently provides an annual bonus opportunity related to the net value increase in the Company’s assets during the annual bonus period. The Employee shall be eligible to receive a target amount of twenty-five percent (25%) of the eligible bonus pool, to be reviewed annually in accordance with the Company’s regular bonus review schedule. The targets and objectives for each year and other terms and conditions of the bonus opportunity shall be established each year by the Compensation Committee of the Board of Directors with the input of the Chief Executive Officer.”

“If there is a “change of control” (as defined in the CCUR Holdings, Inc. Amended and Restated 2011 Stock Incentive Plan), and within one year after such “change of control” the Employee’s employment is terminated by the Company (other than for Due Cause, death or Continuing Disability), subject to executing a release in a form acceptable to the Company and such release becoming irrevocable, the Employee will be entitled to receive (a) salary continuation payments for a period of 12 months from the date of such termination, at the salary in effect, pursuant to Section 3.1 above, immediately prior to such termination, (b) the amount, if any, paid as an annual bonus in the year preceding the Employee’s termination of employment, and (c) COBRA continuation coverage under the Company’s Health Plan for Employee and his eligible dependents who were covered under the Health Plan at the time of his termination, but during the 12 month period following Employee’s termination, Employee shall be eligible to continue such coverage at the same premium charged to active employees during such period. The salary continuation payments pursuant to Section 4.5(a) and (b) above shall be made in substantially equal installments on each regularly scheduled Pay Date, beginning with the first Pay Date following the thirtieth (30th) day after the date of the Employee’s Separation from Service, but with the first payment being a lump sum payment covering all payment periods from the date of the Employee’s Separation from Service through the date of such first payment. To the extent applicable, such payments shall be subject to the payment restrictions set forth in the third paragraph of Section 4.4.”

“Anything herein to the contrary notwithstanding, if the Company:

then such action (or inaction) by the Company, unless consented to in writing by the Employee, shall constitute a constructive termination of the Employee’s employment. 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 4.6, 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 by the Company other than for Due Cause pursuant to Section 4.4 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 such release becoming irrevocable) be entitled to Severance Compensation in accordance with Section 4.4; provided, however, that if Employee elects to assert constructive termination as a result of clause (v) above, the Severance Compensation shall not include any bonus amount contemplated by clause (b) of Section 4.4.”

“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:

“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 and its subsidiaries. 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, (a) engage in or provide any services substantially similar to the services that I provided to the Company or its subsidiaries 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 businesses in which the Company or its subsidiaries are engaged at the time of termination of my employment anywhere in the continental United States, which I acknowledge and agree is the primary geographic area in which the Company and its subsidiaries compete 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 businesses in which the Company or any of its subsidiaries is engaged at the time of termination of my employment, any customers or active prospects of the Company or its subsidiaries with which I had any material business contact for or on behalf of the Company or its subsidiaries 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 or its subsidiaries to terminate their employment or violate any agreement with the Company or its subsidiaries.”

[Signature Page Follows]

Signature Page to Second Amendment to Employment Agreement

Exhibit 10.2

2019 CCUR Bonus Plan

The 2019 CCUR Bonus Plan (the “ Bonus Plan ”), adopted by the Board of Directors of CCUR Holdings, Inc. (the “ Company ”) on January 1, 2019 upon the recommendation of the Compensation Committee of the Board, is set forth as follows:

General

The Bonus Plan shall be subject to, and where applicable, governed by, the terms of the CCUR Holdings, Inc. Amended and Restated 2011 Stock Incentive Plan (the “ Incentive Plan ”) (or any successor plan intended to qualify under Section 162(m) of the Internal Revenue Code of 1986, as amended).

Each Bonus Plan participant will be eligible to receive a portion of a bonus pool allocated by the Company based on growth in the Company’s Net Asset Value (“ NAV ”), if any. Each plan participant shall have been communicated their target bonus at the beginning of the calendar year, or upon hiring or inclusion in the Bonus Plan.

Bonus Funding

All Bonus awards will be funded from a bonus pool (“ Bonus Pool ”) to be determined as follows:

The Company will fund a Bonus Pool up to ten percent (10%) of the excess, if any, of (A) end of year Bonus NAV per share divided by (B) beginning of year Bonus NAV per share, and subtracting one from the quotient (“ NAV Return ”) less (C) the required threshold return of five percent (5%) (“ Threshold Return ”) and, if this net amount is positive, it will be multiplied by (D) beginning of year Bonus NAV.

Threshold Performance and High-Water Mark

Notwithstanding any provision of this Plan to the contrary, if the NAV Return is less than the Threshold Return, then no Bonus shall be awarded for the calendar year. In addition, if the NAV Return is less than the Threshold Return, then the Bonus Pool for the next two calendar years shall be based on a NAV Return using the end of year Bonus NAV per share as compared to the highest end of year Bonus NAV per share for the preceding two calendar years as the beginning of year Bonus NAV per share, per the formula above. 

Bonus Distribution

If the NAV Return is above the Threshold Return, then, upon the recommendation of management, the Compensation Committee will distribute the Bonus NAV in accordance with the contractual obligations binding upon the Company in effect at the time of the distribution.

Payouts and Grants

For each plan participant, their Bonus NAV shall be awarded as follows: (a) fifty percent (50%) of the award value will be paid in cash within seventy-four (74) days after the end of the calendar year for which it is awarded ; and (b) fifty percent (50%) to be paid in cash, equity or a combination thereof, at the discretion of the Compensation Committee and subject to the limitations set forth in the Incentive Plan. 

Net Asset Value (NAV)

For the purpose of the foregoing calculation, the Company’s “Net Asset Value” is generally calculated by as follows:

Net Asset Value, without duplication, is the amount equal to:

Compensation Net Asset Value

Net Asset Value would then be adjusted as follows to arrive at Compensation Net Asset Value (“Bonus NAV”):

Common Stock outstanding

Fair Market Value

Beginning of Year Bonus NAV

For the purpose of setting a beginning of year Bonus NAV to be used in determining the amount to be funded to a Bonus Pool, start with the end of year Bonus NAV for the previous measurement period and then adjust as follows: