Exhibit 10.27
TERMINATION OF SENIOR MANAGEMENT AGREEMENT
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This AGREEMENT (this "AGREEMENT") is entered into as of _____________
__, 1998, by and among Xxxxxx X. Xxxxxx (the "EXECUTIVE"), AnswerThink
Consulting Group, Inc. (the "COMPANY"), the Company and those members of the
Company's Board of Directors whose signatures appear on the Consent of Directors
attached hereto (the "DIRECTORS").
RECITALS
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A. The Executive has entered into a Senior Management Agreement with
the Company dated as of April 23, 1997, as amended effective March 27, 1998 (the
"SENIOR MANAGEMENT AGREEMENT").
B. The Directors and the Executive desire to terminate the Senior
Management Agreement pursuant to the terms and provisions of this Agreement.
C. Capitalized terms used but not defined herein have the meanings
assigned to such terms in the Senior Management Agreement.
AGREEMENT
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NOW, THEREFORE, in consideration of the foregoing premises, and good
and valuable consideration, the receipt of which is hereby acknowledged, the
parties agree as follows:
1. TERMINATION OF SENIOR MANAGEMENT AGREEMENT. Effective upon the completion
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of the initial public offering of the Company's Common Stock (the "OFFERING
DATE"), the Senior Management Agreement shall be terminated and from and after
the Offering Date the Senior Management Agreement shall be of no further force
or effect. Shares of the Company's Common Stock purchased by the Executive
pursuant to the Senior Management Agreement that have become vested thereunder
before the Offering Date shall continue to be fully vested notwithstanding the
termination of the Senior Management Agreement.
2. EFFECTIVE DATE. This Agreement shall be effective as of the Offering Date.
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3. COUNTERPARTS; FACSIMILE TRANSMISSION. This Agreement may be executed in any
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number of separate counterparts and all of said counterparts taken together
shall be deemed to constitute one and the same instrument. A party's signature
appearing on this Agreement sent by facsimile transmission shall be binding as
evidence of that party's acceptance and agreement to the terms hereof.
IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the date first written above.
THE EXECUTIVE: ANSWERTHINK CONSULTING GROUP, INC.
By:
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Xxxxxx X. Xxxxxx Xxx X. Xxxxxxxxx, President
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