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CONNELL & PARTNERS
Who We Are and What We Do




         300 Trade Center, Suite 3460| Woburn, MA 018031| T: 781.647.2739 | www.dolmatconnell.com
Our Services                                      Representative Clients
We advise clients from an independent
perspective on all matters of
compensation, including:

      Executive Compensation


      Compensation Strategy and Philosophy

       Development


      Board of Directors Compensation


      Long-Term Incentive Plans


      Short-Term Incentives / Bonus Plans


      Performance Metric Selection and

       Calibration

      Executive Employment / Change-in-

       Control Agreements

          IRC §280G / §4999 calculations

      Corporate Governance, including

       Compensation Committee Charters

      Expert Witness and Litigation Support in

       the Executive Compensation Arena

      Pre- and Post-IPO Compensation

      Merger & Acquisition Compensation

       Strategies

          Retention Plan Design
Why Connell & Partners?
Extensive experience in the High Technology, Hardware, and Software industries

    Some of the technology firms who have engaged Connell & Partners since our March 2005
    founding:
Why Connell & Partners?
Extensive experience in the Biotechnology and Life Sciences industries

Some of the firms that our partners and senior consultants have worked with in the life sciences arena
include:
Why Connell & Partners?
Extensive experience in the Alternative Energy industry

    We are one of the leading firms in the rapidly-growing Alternative Energy industry. Some of the
    firms that we have recently worked with (or have recently been engaged by) in this space include:
Why Connell & Partners?
Extensive experience in the Pre-IPO / Recent-IPO arena

    We have collectively worked with over 100 pre-IPO firms in the last 10 years. Some of the firms
    that we have recently worked with (or have recently been engaged by) in this space include:
Why Connell & Partners?
Extensive experience across all industries

    Since our inception in March 2005, DC&P has worked with over 100 firms ranging from venture-
    backed start-ups to Fortune 500 firms. Our partners and senior consultants all have significant
    national, cross-industry consulting experience. Some of the firms that we have worked with
    include:




     Alternative Energy                                  Biotech / Life Sciences
     ArborGen                                            Abiomed
     Conservation Services Group                         Acceleron Pharma
     Energy Answers                                      Actelion
     EnerNOC                                             Akela Pharma
     First Wind                                          Archemix
     Great Point Energy                                  BG Medicine
     GT Solar                                            Codon Devices
     GZA Geoenvironmental                                Cynosure
     Mascoma                                             Forma Pharmaceuticals

     Mechanology                                         Helicos Biosciences

     Tamarack Energy                                     Hologic
                                                         Lev Pharmaceuticals
     Business / IT / Professional                        Life Technologies
     Services                                            Millipore
     Atlas Venture
                                                         Momenta Pharmaceuticals
     Bedford Funding
                                                         PharmAthene
     Boston Consulting Group
                                                         Physical Sciences Inc.
     CRA International
                                                         PolyMedica
     Edgewater Technology
                                                         PolyMedix
     GW Premier
                                                         Precision Therapeutics
     Haley & Aldrich                                     Thermo Electron
     Impact Science & Technology                         United BioSource
     InSource Consulting                                 Volcano
     NaviSite                                            Xanodyne Pharmaceutical
     SM&A
     Think Equity Partners
     VistaPrint
Financial Services / Insurance   Semiconductor
Across America Real Estate       Aware, Inc.
Amica Mutual Insurance           Brooks Automation
Exporters Insurance              Oasis Semiconductor
First United Corp.               Photon Dynamics
Northwest Indiana Bancorp        Ramtron
Slade's Ferry Bank               RF Micro Devices
USAA                             Software
Wright Express                   Applix
Hardware / Electronics /         Aspen Technology
Networking                       BladeLogic
3Com
                                 Constant Contact
Acme Packet
                                 DoubleTake Software
Color Kinetics
                                 MedAssets
EqualLogic
                                 Monotype Imaging Holdings
iRobot
                                 NeuCo
IBM                              PhaseForward
LoJack
                                 SeaChange International
Narad Networks
                                 Workscape
Network Engines
                                 Telecommunications
Polaroid
                                 Airvana
Rogers Corporation
                                 Cedar Point Communications
Starent Networks
                                 Comarco
Z Corporation
                                 CTC Communications Corp.
Other
                                 Digital Globe
AD Makepeace
                                 Gateway Gulf
American Water
                                 Performance Technologies
Fallon Clinic
                                 TBayTel
GPX International Tire Corp.
                                 Warwick Valley Telephone
Implant Sciences
Mac-Gray
Quaker Chemical
Reebok
Spartech
Trex
Jack Connell
Jack is the Managing Director of Connell & Partners, Inc. Jack is a nationally recognized expert in executive compensation, sales
compensation, incentive plan design (short-term and long-term), linking pay and firm performance, and total reward strategy
development. He works with start-up organizations through Fortune 500 firms, with an emphasis in human capital intensive
industries such as high-technology and life sciences. Jack has particular expertise in mergers and acquisitions and turnaround
situations.

Jack has significant experience in both consulting and corporate environments, providing a unique background from which to
advise clients. His consulting experience includes Managing Director and National Practice Leader for Pearl Meyer & Partners,
Managing Director and East Coast Practice leader for iQuantic, Managing Director and National Consulting Practice leader for the
Wilson Group, and President and Founder of Solutions at Work. Jack's corporate industry experience includes roles as Senior
Vice President of Global HR for Geac Computer, Senior Director of Compensation, Benefits and HRIS at Avis Technology and
Stratus Computer, and various HR and Compensation and Benefits positions at Digital Equipment Corporation and Data General.

Jack has a B.A. in Economics from the University of Michigan and an MBA in Organizational Behavior and Corporate Strategy
from the University of Michigan Ross Graduate School of Business. He has also been an adjunct professor at Bentley College and
Babson College and an Instructor for WorldatWork.

Jack has published over 30 articles and book chapters including articles in Forbes, WorldatWork Journal, Chief Legal Executive,
Mass High Tech and Boston Business Journal. He has been quoted extensively in such publications as Wall Street Journal, The
New York Times, Business Week, CFO Magazine and CFO.com, Red Herring, USA Today, San Jose Mercury News, Corporate
Governance News, Employee Benefits News and Compliance Week. Jack speaks regularly at many national and regional
conferences and has appeared on CNBC.
Gerald Miller
Gerald (Gerry) is the Managing Director Emeritus at Connell & Partners, Inc. Gerry specializes in executive
compensation, Director remuneration, equity compensation and corporate governance matters as related to
executive compensation. Gerry has particular experience in the high-technology and financial services industries.

Prior to joining Connell & Partners, Gerry was Executive Vice president and Chief Operating Officer of Ben S. Cole
Financial and the head of their compensation consulting practice. Prior to that, he was a Vice President of Clark
Consulting’s Human Capital Practice (now Pearl Meyer & Partners), a Director in the compensation consulting
practice at PricewaterhouseCoopers, and Vice President of Executive Compensation for State Street Corporation.
Gerry has also held positions as Director of Compensation and Benefits at UST Corporation, GenRad, Inc., and
A.T. Cross Company, Inc.

Gerry is a frequent speaker at regional and national conferences on matters of executive and equity compensation
and has authored numerous articles on compensation and compensation-related corporate governance issues
appearing in magazines such as Workspan. Gerry is a Certified Compensation Professional and a member of the
National Association of Stock Plan Professionals. Gerry is an active member of WorldatWork, the professional
association for compensation practitioners, has spoken at the WorldatWork national conference, and has received
their Lifetime Achievement Award. Gerry has been quoted in many leading publications, including The Wall Street
Journal.

Gerry holds an MBA from the University of Bridgeport and a B.S. in Economics from the University of Rhode
Island.



David Dreyfus
David is a Managing Consultant for Connell & Partners, responsible for the timely and high quality delivery of our
reports to clients.

David began his career in the Business Analyst program at Capital One Financial Corp. He worked on the Sales
Strategy and Analysis team in the Point of Sale Finance Division in Framingham, MA. There he designed and
implemented the sales compensation plans. He also worked on the Workforce Planning team at VistaPrint, N.V. in
Lexington, MA, a publically traded e-commerce company.

David graduated from the Olin Business School at Washington University in St. Louis with a Bachelor of Science in
Business Administration. There he double-majored in Finance and Economics.
Contact Info
  Jack Connell                                            David Dreyfus
  Managing Director                                       Managing Consultant
  781.647.2739                                            781.647-2722
  Jack_connell@ajg.com                                    David_Dreyfus@ajg.com


  Gerry Miller
  Managing Director Emeritus
  geraldmiller@comcast.net


  Address
  Connell & Partners, Inc., A division of Gallagher Benefits Services, Inc.
  300 Trade Center, Suite 3460
  Woburn, MA 01801




                         300 Trade Center, Suite 3460| Woburn, MA 018031| T: 781.647.2739 | www.dolmatconnell.com

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Connell and Partners

  • 1. CONNELL & PARTNERS Who We Are and What We Do 300 Trade Center, Suite 3460| Woburn, MA 018031| T: 781.647.2739 | www.dolmatconnell.com
  • 2. Our Services Representative Clients We advise clients from an independent perspective on all matters of compensation, including:  Executive Compensation  Compensation Strategy and Philosophy Development  Board of Directors Compensation  Long-Term Incentive Plans  Short-Term Incentives / Bonus Plans  Performance Metric Selection and Calibration  Executive Employment / Change-in- Control Agreements  IRC §280G / §4999 calculations  Corporate Governance, including Compensation Committee Charters  Expert Witness and Litigation Support in the Executive Compensation Arena  Pre- and Post-IPO Compensation  Merger & Acquisition Compensation Strategies  Retention Plan Design
  • 3. Why Connell & Partners? Extensive experience in the High Technology, Hardware, and Software industries Some of the technology firms who have engaged Connell & Partners since our March 2005 founding:
  • 4. Why Connell & Partners? Extensive experience in the Biotechnology and Life Sciences industries Some of the firms that our partners and senior consultants have worked with in the life sciences arena include:
  • 5. Why Connell & Partners? Extensive experience in the Alternative Energy industry We are one of the leading firms in the rapidly-growing Alternative Energy industry. Some of the firms that we have recently worked with (or have recently been engaged by) in this space include:
  • 6. Why Connell & Partners? Extensive experience in the Pre-IPO / Recent-IPO arena We have collectively worked with over 100 pre-IPO firms in the last 10 years. Some of the firms that we have recently worked with (or have recently been engaged by) in this space include:
  • 7. Why Connell & Partners? Extensive experience across all industries Since our inception in March 2005, DC&P has worked with over 100 firms ranging from venture- backed start-ups to Fortune 500 firms. Our partners and senior consultants all have significant national, cross-industry consulting experience. Some of the firms that we have worked with include: Alternative Energy Biotech / Life Sciences ArborGen Abiomed Conservation Services Group Acceleron Pharma Energy Answers Actelion EnerNOC Akela Pharma First Wind Archemix Great Point Energy BG Medicine GT Solar Codon Devices GZA Geoenvironmental Cynosure Mascoma Forma Pharmaceuticals Mechanology Helicos Biosciences Tamarack Energy Hologic Lev Pharmaceuticals Business / IT / Professional Life Technologies Services Millipore Atlas Venture Momenta Pharmaceuticals Bedford Funding PharmAthene Boston Consulting Group Physical Sciences Inc. CRA International PolyMedica Edgewater Technology PolyMedix GW Premier Precision Therapeutics Haley & Aldrich Thermo Electron Impact Science & Technology United BioSource InSource Consulting Volcano NaviSite Xanodyne Pharmaceutical SM&A Think Equity Partners VistaPrint
  • 8. Financial Services / Insurance Semiconductor Across America Real Estate Aware, Inc. Amica Mutual Insurance Brooks Automation Exporters Insurance Oasis Semiconductor First United Corp. Photon Dynamics Northwest Indiana Bancorp Ramtron Slade's Ferry Bank RF Micro Devices USAA Software Wright Express Applix Hardware / Electronics / Aspen Technology Networking BladeLogic 3Com Constant Contact Acme Packet DoubleTake Software Color Kinetics MedAssets EqualLogic Monotype Imaging Holdings iRobot NeuCo IBM PhaseForward LoJack SeaChange International Narad Networks Workscape Network Engines Telecommunications Polaroid Airvana Rogers Corporation Cedar Point Communications Starent Networks Comarco Z Corporation CTC Communications Corp. Other Digital Globe AD Makepeace Gateway Gulf American Water Performance Technologies Fallon Clinic TBayTel GPX International Tire Corp. Warwick Valley Telephone Implant Sciences Mac-Gray Quaker Chemical Reebok Spartech Trex
  • 9. Jack Connell Jack is the Managing Director of Connell & Partners, Inc. Jack is a nationally recognized expert in executive compensation, sales compensation, incentive plan design (short-term and long-term), linking pay and firm performance, and total reward strategy development. He works with start-up organizations through Fortune 500 firms, with an emphasis in human capital intensive industries such as high-technology and life sciences. Jack has particular expertise in mergers and acquisitions and turnaround situations. Jack has significant experience in both consulting and corporate environments, providing a unique background from which to advise clients. His consulting experience includes Managing Director and National Practice Leader for Pearl Meyer & Partners, Managing Director and East Coast Practice leader for iQuantic, Managing Director and National Consulting Practice leader for the Wilson Group, and President and Founder of Solutions at Work. Jack's corporate industry experience includes roles as Senior Vice President of Global HR for Geac Computer, Senior Director of Compensation, Benefits and HRIS at Avis Technology and Stratus Computer, and various HR and Compensation and Benefits positions at Digital Equipment Corporation and Data General. Jack has a B.A. in Economics from the University of Michigan and an MBA in Organizational Behavior and Corporate Strategy from the University of Michigan Ross Graduate School of Business. He has also been an adjunct professor at Bentley College and Babson College and an Instructor for WorldatWork. Jack has published over 30 articles and book chapters including articles in Forbes, WorldatWork Journal, Chief Legal Executive, Mass High Tech and Boston Business Journal. He has been quoted extensively in such publications as Wall Street Journal, The New York Times, Business Week, CFO Magazine and CFO.com, Red Herring, USA Today, San Jose Mercury News, Corporate Governance News, Employee Benefits News and Compliance Week. Jack speaks regularly at many national and regional conferences and has appeared on CNBC.
  • 10. Gerald Miller Gerald (Gerry) is the Managing Director Emeritus at Connell & Partners, Inc. Gerry specializes in executive compensation, Director remuneration, equity compensation and corporate governance matters as related to executive compensation. Gerry has particular experience in the high-technology and financial services industries. Prior to joining Connell & Partners, Gerry was Executive Vice president and Chief Operating Officer of Ben S. Cole Financial and the head of their compensation consulting practice. Prior to that, he was a Vice President of Clark Consulting’s Human Capital Practice (now Pearl Meyer & Partners), a Director in the compensation consulting practice at PricewaterhouseCoopers, and Vice President of Executive Compensation for State Street Corporation. Gerry has also held positions as Director of Compensation and Benefits at UST Corporation, GenRad, Inc., and A.T. Cross Company, Inc. Gerry is a frequent speaker at regional and national conferences on matters of executive and equity compensation and has authored numerous articles on compensation and compensation-related corporate governance issues appearing in magazines such as Workspan. Gerry is a Certified Compensation Professional and a member of the National Association of Stock Plan Professionals. Gerry is an active member of WorldatWork, the professional association for compensation practitioners, has spoken at the WorldatWork national conference, and has received their Lifetime Achievement Award. Gerry has been quoted in many leading publications, including The Wall Street Journal. Gerry holds an MBA from the University of Bridgeport and a B.S. in Economics from the University of Rhode Island. David Dreyfus David is a Managing Consultant for Connell & Partners, responsible for the timely and high quality delivery of our reports to clients. David began his career in the Business Analyst program at Capital One Financial Corp. He worked on the Sales Strategy and Analysis team in the Point of Sale Finance Division in Framingham, MA. There he designed and implemented the sales compensation plans. He also worked on the Workforce Planning team at VistaPrint, N.V. in Lexington, MA, a publically traded e-commerce company. David graduated from the Olin Business School at Washington University in St. Louis with a Bachelor of Science in Business Administration. There he double-majored in Finance and Economics.
  • 11. Contact Info Jack Connell David Dreyfus Managing Director Managing Consultant 781.647.2739 781.647-2722 Jack_connell@ajg.com David_Dreyfus@ajg.com Gerry Miller Managing Director Emeritus geraldmiller@comcast.net Address Connell & Partners, Inc., A division of Gallagher Benefits Services, Inc. 300 Trade Center, Suite 3460 Woburn, MA 01801 300 Trade Center, Suite 3460| Woburn, MA 018031| T: 781.647.2739 | www.dolmatconnell.com