EMPLOYMENT AGREEMENT
EXHIBIT
99.1
PLEASE
READ THIS AGREEMENT CAREFULLY. THIS AGREEMENT DESCRIBES THE BASIC LEGAL AND
ETHICAL RESPONSIBILITIES THAT YOU ARE REQUIRED TO OBSERVE AS AN EXECUTIVE
EXPOSED TO HIGHLY SENSITIVE TECHNOLOGY AND STRATEGIC INFORMATION. CONSULT WITH
YOUR LEGAL COUNSEL IF ALL THE TERMS AND PROVISIONS OF THIS AGREEMENT ARE NOT
FULLY UNDERSTOOD BY YOU.
THIS
AGREEMENT is made as of the 2nd
day of
January,
2007,
by and
between XXXXX ENTERPRISES, INCORPORATED, a Florida corporation (the “Company”),
and Xxxxx
Hobby, Jr.
(the
“Executive”).
W
I T N E S S E T H :
WHEREAS,
the Company desires to assure itself of the Executive’s continued employment in
an executive capacity; and
WHEREAS,
the Executive desires to be employed by the Company on the terms and conditions
hereinafter set forth.
NOW,
THEREFORE, in consideration of the mutual covenants and agreements of the
parties contained herein, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto covenant
and
agree as follows:
1. EMPLOYMENT
AND DUTIES.
Subject
to the terms and conditions of this Agreement, the Company shall employ the
Executive during the Term (as hereinafter defined) in such management capacities
as may be designated from time to time by the Company’s Chief Executive Officer
and/or the Chief Executive Officer’s designee. The Executive accepts such
employment and agrees to devote his/her best efforts and entire business time,
skill, labor, and attention to the performance of such duties. The Executive
agrees to promptly provide a description of any other commercial duties or
pursuits engaged in by the Executive to the Company’s Chief Executive Officer.
If the Company’s Chief Executive Officer determines in good faith that such
activities conflict with the Executive’s performance of his/her duties
hereunder, the Chief Executive Officer shall notify Executive within thirty
(30)
days and the Executive shall promptly cease such activities to the extent as
directed by the Chief Executive Officer. If the Chief Executive Officer does
not
provide such notice, Executive shall be free to engage in such commercial duties
or pursuits. It is acknowledged and agreed that such description shall be made
regarding any such activities in which the Executive owns more than 5% of the
ownership of the organization or which may be in violation of Section 5 hereof,
and that the failure of the Executive to provide any such description shall
enable the Company to terminate the Executive for Cause (as provided in Section
6(c) hereof). The Company agrees to hold any such information provided by the
Executive confidential and not disclose the same to
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any
person other than a person to whom disclosure is reasonably necessary or
appropriate in light of the circumstances. In addition, the Executive agrees
to
serve without additional compensation if elected or appointed to any office
or
position, including as a director, of the Company or any subsidiary or affiliate
of the Company; provided, however, that the Executive shall be entitled to
receive such benefits and additional compensation, if any, that is paid to
executive officers of the Company in connection with such service.
2. TERM.
Subject
to the terms and conditions of this Agreement, including, but not limited to,
the provisions for termination set forth in Section 6 hereof, the employment
of
the Executive under this Agreement shall commence on the effective date hereof
and shall continue until terminated as provided herein (such term shall herein
be defined as the “Term”). The Executive agrees that some portions of this
Agreement, including the Sections entitled “Confidential Information,” “Covenant
Not-To-Compete And No Solicitation,” “Termination,” and “Arbitration of
Disputes,” will remain in force after the termination of this Agreement.
3. COMPENSATION.
(a) Base
Salary and Bonus. As compensation for the Executive’s services under this
Agreement, the Executive shall receive and the Company shall pay a weekly base
salary set forth on Exhibit “A”. Such base salary may be increased but not
decreased during the Term in the Company’s discretion based upon the Executive’s
performance and any other factors the Company deems relevant. Such base salary
shall be payable in accordance with the policy then prevailing for the Company’s
executives. In addition to such base salary, the Executive shall be entitled
during the Term to a performance bonus and shall be eligible to participate
in
and receive payments or awards from all other bonus and other incentive
compensation, stock option and restricted stock plans as may be adopted by
the
Company, all as determined by the Compensation Committee of the Board of
Directors in its sole discretion.
(b) Payments.
All amounts paid pursuant to this Agreement shall be subject to withholding
or
deduction by reason of the Federal Insurance Contribution Act, federal income
tax, state and local income tax, if any, and comparable laws and regulations.
(c) Other
Benefits. The Executive shall be reimbursed by the Company for all reasonable
and customary travel and other business expenses incurred by the Executive
in
the performance of the Executive’s duties hereunder in accordance with the
Company’s standard policy regarding expense verification practices. The
Executive shall be entitled to that number of weeks paid vacation per year
that
is available to other executive officers of the Company in accordance with
the
Company’s standard policy regarding vacations and such other fringe benefits as
may be set forth on Exhibit “A” and shall be eligible to participate in such
pension, life insurance, health insurance, disability insurance, and other
executive benefits plans, if any, which the Company may from time to time make
available to its executive officers generally.
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4. CONFIDENTIAL
INFORMATION.
(a) The
Executive has acquired and will acquire information and knowledge respecting
the
intimate and confidential affairs of the Company, including, without limitation,
confidential information with respect to the Company’s technical data, research
and development projects, methods, products, software, financial data, business
plans, financial plans, customer lists, business methodology, processes,
production methods and techniques, promotional materials and information, and
other similar matters treated by the Company as confidential (the “Confidential
Information”). Accordingly, the Executive covenants and agrees that during the
Executive’s employment by the Company (whether during the Term hereof or
otherwise) and thereafter, the Executive shall not, without the prior written
consent of the Company, disclose to any person, other than a person to whom
disclosure is reasonably necessary or appropriate in connection with the
performance by the Executive of the Executive’s duties hereunder, any
Confidential Information obtained by the Executive while in the employ of the
Company.
(b) The
Executive agrees that all memoranda; notes; records; papers or other documents;
computer disks; computer, video or audio tapes; CD-ROMs; all other media and
all
copies thereof relating to the Company’s operations or business, some of which
may be prepared by the Executive; and all objects associated therewith in any
way obtained by the Executive shall be the Company’s property. This shall
include, but is not limited to, documents; computer disks; computer, video
and
audio tapes; CD-ROMs; all other media and objects concerning any technical
data,
methods, products, software, research and development projects, financial data,
financial plans, business plans, customer lists, contracts, price lists,
manuals, mailing lists, advertising materials; and all other materials and
records of any kind that may be in the Executive’s possession or under the
Executive’s control. The Executive shall not, except for the Company’s use, copy
or duplicate any of the aforementioned documents or objects, nor remove them
from the Company’s facilities, nor use any information concerning them except
for the Company’s benefit, either during the Executive’s employment or
thereafter. The Executive covenants and agrees that the Executive will deliver
all of the aforementioned documents and objects, if any, that may be in the
Executive’s possession to the Company upon termination of the Executive’s
employment, or at any other time at the Company’s request.
(c) In
any
action to enforce or challenge these Confidential Information provisions, the
prevailing party is entitled to recover its attorney’s fees and costs.
5. COVENANT
NOT-TO-COMPETE AND NO SOLICITATION. Executive
recognizes that the Company is in the business of employing individuals to
provide specialized and technical services to the Company’s Clients. The purpose
of these Covenant Not-to-Compete and No Solicitation provisions are to protect
the relationship which exists between the Company and its Clients while
Executive is employed and after Executive leaves the employ of the Company.
The
consideration for these Covenant Not-to-Compete and No Solicitation provisions
is the Executive’s employment with the Company.
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(a) Executive
acknowledges the following:
(1) The
Company expended considerable resources in obtaining contracts with its Clients;
(2) The
Company expended considerable resources to recruit and hire employees who could
perform services for its Clients;
(3) Through
his/her employ with the Company, Executive will develop a substantial
relationship with the Company’s existing or potential Clients, including, but
not limited to, being the sole or primary contact between the Client and the
Company;
(4) Executive
will be exposed to valuable confidential business information about the Company,
its Clients, and the Company’s relationship with its Clients;
(5) By
providing services on behalf of the Company, Executive will develop and enhance
the valuable business relationship between the Company and its Clients;
(6) The
relationship between the Company and its Clients depends on the quality and
quantity of the services Executive performs;
(7) Through
employment with the Company, Executive will increase his/her opportunity to
work
directly for the Clients or for a competitor of the Company; and
(8) The
Company will suffer irreparable harm if Executive breaches these Covenant
Not-to-Compete and No Solicitation provisions of this Agreement.
(b) Executive
agrees that:
(1) The
relationship between the Company and its Clients (developed and enhanced when
the Executive performs services on behalf of the Company) is a legitimate
business interest for the Company to protect;
(2) The
Company’s legitimate business interest is protected by the existence and
enforcement of these Covenant Not-to-Compete and No Solicitation provisions;
(3) The
business relationship which is created or exists between the Company and its
Client, or the goodwill resulting from it, is a business asset of the Company
and not the Executive; and
(4) Executive
will not seek to take advantage of opportunities which result from his/her
employment with the Company and that entering into the
5
Agreement
containing Covenant Not-to-Compete and No Solicitation provisions is reasonable
to protect the Company’s business relationship with its Clients.
(c) Restrictions
on Executive. During the Term of this Agreement and for the greater of one
(1)
year or such other period during which Executive may receive Liquidated Damages
hereunder, after the termination of this Agreement, for whatever reason, whether
such termination was by the Company or the Executive, voluntarily or
involuntarily, and whether with or without cause, Executive agrees that he/she
shall not, as a principal, employer, stockholder, partner, agent, consultant,
independent contractor, employee, or in any other individual or representative
capacity:
(1) Directly
or indirectly engage in, continue in, or carry on the business of the Company
or
any business substantially similar thereto, including owning or controlling
any
financial interest in any corporation, partnership, firm, or other form of
business organization which competes with or is engaged in or carries on any
aspect of such business or any business substantially similar thereto;
(2) Consult
with, advise, or assist in any way, whether or not for consideration of any
kind, any corporation, partnership, firm, or other business organization which
is now, becomes, or may become a competitor of the Company in any aspect of
the
Company’s business during the Executive’s employment with the Company,
including, but not limited to, advertising or otherwise endorsing the products
of any such competitor or loaning money or rendering any other form of financial
assistance to or engaging in any form of transaction whether or not on an arm’s
length basis with any such competitor;
(3) Provide
or attempt to provide or solicit the opportunity to provide or advise others
of
the opportunity to provide any services of the type Executive performed for
the
Company or the Company’s Clients (regardless of whether and how such services
are to be compensated, whether on a salaried, time and materials, contingent
compensation, or other basis) to or for the benefit of any Client (i) to which
Executive has provided services in any capacity on behalf of the Company, or
(ii) to which Executive has been introduced to or about which the Executive
has
received information through the Company or through any Client from which
Executive has performed services in any capacity on behalf of the Company;
(4) Retain
or
attempt to retain, directly or indirectly, for itself or any other party, the
services of any person, including any of the Company’s employees, who were
providing services to or on behalf of the Company while Executive was employed
by the Company and to whom Executive has been introduced or about whom Executive
has received information through the Company or through any Client for which
Executive has performed services in any capacity on behalf of the Company;
6
(5) Engage
in
any practice, the purpose of which is to evade the provisions of this Agreement
or to commit any act which is detrimental to the successful continuation of
or
which adversely affects the business or the Company; provided, however, that
the
foregoing shall not preclude the Executive’s ownership of not more than 2% of
the equity securities of a company whose securities are registered under Section
12 of the Securities Exchange Act of 1934, as amended;
(6) For
purpose of these Covenant Not-to-Compete and No Solicitation provisions, Client
includes any subsidiaries, affiliates, customers, and clients of the Company’s
Clients. The Executive agrees that the geographic scope of this Covenant
Not-to-Compete shall extend to the geographic area where the Company’s Clients
conduct business at any time during the Term of this Agreement. For purposes
of
this Agreement, “Clients” means any person or entity to which the Company
provides or has provided within a period of one (1) year prior to the
Executive’s termination of employment, labor, materials or services for the
furtherance of such entity’s or person’s business or any person or entity that
within such period of one (1) year the Company has pursued or communicated
with
for the purpose of obtaining business for the Company.
(d) Enforcement.
These Covenant Not-to-Compete and No Solicitation provisions shall be construed
and enforced under the laws of the State of Florida. In the event of any breach
of this Covenant Not-to-Compete, the Executive recognizes that the remedies
at
law will be inadequate, and that in addition to any relief at law which may
be
available to the Company for such violation or breach and regardless of any
other provision contained in this Agreement, the Company shall be entitled
to
equitable remedies (including an injunction) and such other relief as a court
may grant after considering the intent of this Section 5. It is further
acknowledged and agreed that the existence of any claim or cause of action
on
the part of the Executive against the Company, whether arising from this
Agreement or otherwise, shall in no way constitute a defense to the enforcement
of this Covenant Not-to-Compete, and the duration of this Covenant
Not-to-Compete shall be extended in an amount which equals the time period
during which the Executive is or has been in violation of this Covenant
Not-to-Compete. In the event a court of competent jurisdiction determines that
the provisions of this Covenant Not-to-Compete are excessively broad as to
duration, geographic scope, prohibited activities or otherwise, the parties
agree that this covenant shall be reduced or curtailed only to the extent
necessary to render it enforceable.
(e) In
an
action to enforce or challenge these Covenant Not-to-Compete and No Solicitation
provisions, the prevailing party is entitled to recover its attorney’s fees and
costs.
(f) By
signing this Agreement, the Executive acknowledges that he/she understands
the
effects of these Covenant Not-to-Compete and No Solicitation provisions and
agrees to abide by them.
7
6. TERMINATION
(a) Death.
The Executive’s employment hereunder shall terminate upon his/her death.
(b) Disability.
If during the Term of this Agreement the Executive becomes physically or
mentally disabled in accordance with the terms and conditions of any disability
insurance policy covering the Executive, or, if due to such physical or mental
disability the Executive becomes unable for a period of more than six (6)
consecutive months to perform his/her duties hereunder on substantially a
full-time basis as determined by the Company in its sole reasonable discretion,
the Company may, at its option, terminate the Executive’s employment hereunder
upon not less than thirty (30) days’ written notice so long as the terms of any
disability insurance policy then in effect provide for Executive to receive
disability payments from that date forward.
(c) Cause.
The Company may terminate the Executive’s employment hereunder for Cause
effective immediately upon notice. For purposes of this Agreement, the Company
shall have “Cause” to terminate the Executive’s employment hereunder:
(i) if the Executive engages in conduct which has caused or is reasonably
likely to cause demonstrable and serious injury to Company; (ii) if the
Executive is convicted of a felony as evidenced by a binding and final judgment,
order, or decree of a court of competent jurisdiction; (iii) for the Executive’s
failure or refusal to perform his/her duties or responsibilities hereunder
as
determined by the Company’s Chief Executive Officer in good faith, if such
failure or refusal continues for a period of ten (10) days after written notice
of the same to the Executive; (iv) for gross incompetence; (v) for the
Executive’s violation of this Agreement, including, without limitation, Section
5 hereof; (vi) for chronic absenteeism; (vii) for use of illegal drugs; (viii)
for insobriety by the Executive while performing his or her duties hereunder;
and (ix) for any act of dishonesty or falsification of reports, records, or
information submitted by the Executive to the Company.
(d) Termination
by the Company for Convenience. Subject to the Company’s obligation to pay
Liquidated Damages in accordance with the terms and conditions of this
Agreement, the Company may terminate Executive’s employment hereunder at any
time, for the Company’s convenience and without reason, by delivering written
notice of termination to the Executive.
(e) Payments
Upon Termination. In the event of a termination of the Executive’s employment,
all payments and Company benefits to the Executive hereunder, except the payment
of Liquidated Damages (if any) provided below, shall immediately cease and
terminate. In the event the Company terminates the Executive’s
8
employment
pursuant to Section 6(d) hereof, the Company shall pay the
Executive an amount equal to the Liquidated Damages defined in this
Section 6(e) in lieu of actual damages for such termination. If the
Executive’s employment terminates or is terminated for any reason other than as
specified in the preceding sentence, the Executive shall not
be
entitled to any Liquidated Damages. Notwithstanding anything to the contrary
herein contained, and in addition to any other compensation which the Executive
may be entitled to receive pursuant to this Agreement, the Executive shall
receive all compensation and other benefits to which he/she was entitled under
this Agreement or otherwise as an executive of the Company
through the termination date. The “Liquidated Damages” amount, if due as
provided above, shall be equal to the weekly amount stated as Base Salary on
Exhibit “A” for fifty two (52) weeks. The amount of Liquidated Damages shall be
paid biweekly in equal installments over such period.
(f) Condition
Precedent to Receipt of Liquidated Damages. Executive expressly agrees that
in
the event of a termination of this Agreement, Executive will execute an agreement
containing
waiver and release provisions in form and substance acceptable to the Company.
Executive agrees and acknowledges that the execution of such an agreement upon
termination of employment is a condition precedent to the obligation of the
Company to pay any Liquidated Damages hereunder. Executive acknowledges that
the
waiver and release provisions required by the Company will provide for the
release and waiver of important rights and/or claims that Executive might have
against the Company at the time of termination of this Agreement.
7. NOTICE.
For
purposes of this Agreement, notices and all other communications provided for
herein shall be in writing and shall be deemed to have been duly given when
hand-delivered, sent by telecopier, facsimile transmission, or other electronic
means of transmitting written documents (as long as receipt is acknowledged)
or
mailed by United States certified or registered mail, return receipt requested,
postage prepaid, addressed as follows:
If
to the
Executive, to the address set forth on the signature page.
If
to the
Company: Xxxxx
Enterprises, Incorporated
000
Xxxxx Xxxxxx Xxxxx, Xxxxx
0000
Xxxxx,
Xxxxxxx 00000
Attention: Sr. VP of Human Resources
with a copy to:
Xxxxx
Enterprises,
Incorporated
000 Xxxxx Xxxxxx Xxxxx, Xxxxx 0000
Xxxxx,
Xxxxxxx 00000
Attention:
General Counsel
or
to
such other address as either party may have furnished to the other in writing
in
accordance herewith, except that a notice of change of address shall be
effective only upon receipt.
9
8. ENFORCEMENT
AND GOVERNING LAW.
It is
stipulated that a breach by Executive of the restrictive covenants set forth
in
Sections 4 and 5 of this Agreement will cause irreparable damage to Company
or
its Clients, and that in the event of any breach of those provisions, Company
is
entitled to injunctive relief restraining Executive from violating or continuing
a violation of the restrictive covenants as well as other remedies it may have.
Additionally, such covenants shall be enforceable against the Executive’s heirs,
executors, administrators and legal representatives, and enforceable by
Company’s successors or assigns.
The
validity, interpretation, construction, and performance of this Agreement shall
be governed by the internal laws of the State of Florida. Any litigation to
enforce this Agreement shall be brought in the state or federal courts of
Hillsborough County, Florida, which is the principal place of business for
Company and which is considered to be the place where this Agreement is made.
Both parties hereby consent to such courts’ exercise of personal jurisdiction
over them.
9. ARBITRATION
OF DISPUTES.
(a) Duty
to
Arbitrate. Except for any claim by the Company to enforce the restrictive
covenants set forth in Sections 4 and 5 above, Company and Executive agree
to
resolve by binding arbitration any claim or controversy arising out of or
related to Executive’s employment by Company or this Agreement, to include all
matters directly or indirectly related to your recruitment, employment or
termination of employment by the Company including, but not limited to claims
involving laws against discrimination whether brought under federal and/or
state
law, and/or claims involving co-employees but excluding workers compensation
claims, whether such claim is based in contract, tort, statute, or any other
legal theory, including any claim for damages, equitable relief, or both. The
duty to arbitrate under this Section extends to any claim by or against any
officer, director, shareholder, employee, agent, representative, parent,
subsidiary, affiliate, heir, trustee, legal representative, successor, or assign
of either party making or defending any claim that would otherwise be arbitrable
under this Section. However, this Section shall not be interpreted to preclude
either party from petitioning a court of competent jurisdiction for temporary
injunctive relief, solely to preserve the status quo pending arbitration of
the
claim or controversy, upon a proper showing of the need for such relief.
(b) The
Arbitrator. A single arbitrator will conduct the arbitration in Tampa, Florida,
U.S.A., in accordance with the Commercial Arbitration Rules of the American
Arbitration Association (the “Rules”), and judgment upon the written award
rendered by the arbitrator may be entered in any court of competent
jurisdiction. Notwithstanding the application of the Rules, however, discovery
in the arbitration, including interrogatories, requests for production, requests
for admission, and depositions, will be fully available and governed by the
Federal Rules of Civil Procedure and Local Rules of the United States District
Court for the Middle District of Florida. The parties may agree upon a person
to
act as sole arbitrator within thirty (30) days after submission of any claim
or
controversy to arbitration pursuant to this Section. If the parties are unable
to agree upon such a person within such time period, an arbitrator shall be
selected in accordance with
10
the
Rules. The parties will pay their own respective attorneys’ fees, witness fees,
and other costs and expenses incurred in any investigations, arbitrations,
trials, bankruptcies, and appeals; provided, however, that the Company will
pay
the filing fees, hearing fees, and processing fees associated with arbitration
hereunder.
(c) Limitations
Period. The parties agree that any claim or controversy that would be arbitrable
under this Section must be submitted to arbitration within one (1) year after
the claim or controversy arises and that a failure to institute arbitration
proceedings within such time period shall constitute an absolute bar to the
institution of any proceedings, in arbitration or in any court, and a waiver
of
all such claims. This Section will survive the expiration or early termination
of this Agreement.
(d) Governing
Law. This Agreement shall be governed in its construction, interpretation,
and
performance by the laws of the State of Florida, without reference to law
pertaining to conflict of laws. However, the Federal Arbitration Act, as
amended, will govern the interpretation and enforcement of this Section.
(e) Attorneys’
Fees. The prevailing party in any arbitration or dispute, or in any litigation,
arising out of or related to Executive’s employment by Company or this
Agreement, shall be entitled to recover all reasonable attorneys’ fees incurred
on all levels and in all proceedings, unless otherwise provided by
law.
(f) Severability.
Each part of this Section is severable. A holding that any part of this Section
is unenforceable will not affect the duty to arbitrate under this Section.
10. MISCELLANEOUS.
No
provision of this Agreement may be modified or waived unless such waiver or
modification is agreed to in writing signed by the parties hereto; provided,
however, that the terms of the performance bonus and fringe benefits set forth
on Exhibit “A” may be amended by the Company in its discretion without the
Executive’s consent to the extent provided therein. No waiver by any party
hereto of any breach by any other party hereto shall be deemed a waiver of
any
similar or dissimilar term or condition at the same or at any prior or
subsequent time. This Agreement is the entire agreement between the parties
hereto with respect to the Executive’s employment by the Company and there are
no agreements or representations, oral or otherwise, expressed or implied,
with
respect to or related to the employment of the Executive which are not set
forth
in this Agreement. Any prior agreement relating to the Executive’s employment
with the Company is hereby superseded and void, and is no longer in effect.
This
Agreement shall be binding upon and inure to the benefit of the Company, its
respective successors and assigns, and the Executive and his/her heirs,
executors, administrators and legal representatives. Except as expressly set
forth herein, no party shall assign any of his/her or its rights under this
Agreement without the prior written consent of the other party and any attempted
assignment without such prior written consent shall be null and void and without
legal effect; provided, however, that Company may assign this Agreement to
any
party that acquires all or substantially all of Company’s assets or business,
without Executive’s consent. The parties agree that if any provision of this
Agreement shall under any circumstances be deemed invalid or inoperative, the
Agreement shall be construed with the invalid or inoperative provision deleted
and the rights and obligations of the parties shall be
11
construed
and enforced accordingly. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute but one and the same instrument. This Agreement has
been negotiated and no party shall be considered as being responsible for such
drafting for the purpose of applying any rule construing ambiguities against
the
drafter or otherwise.
|
IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
day
and year first above written.
|
|||
| XXXXX ENTERPRISES, INCORPORATED | EXECUTIVE | ||
| /s/ Xxxxx X. Xxxxxx | /s/ Xxxxx Hobby, Jr. | ||
|
|
|
||
|
Xxxxx X. Xxxxxx
Senior Vice President and
General Counsel
|
Xxxxx Hobby, Jr.
Senior Vice President,
Global Operations
|
||
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EXHIBIT
“A” TO EMPLOYMENT AGREEMENT
BASE
SALARY:
$
5,865.39
per week
payable biweekly
PERFORMANCE
BONUS: Eligible
to participate in a performance based bonus program
ranging from 0% to 50%
of base
salary
FRINGE
BENEFITS: Eligible
for standard executive benefits
THE
COMPANY RESERVES THE RIGHT, AT ITS DISCRETION, AT SUCH TIME OR TIMES AS IT
ELECTS, TO CHANGE OR ELIMINATE THE PERFORMANCE BONUS, INCENTIVES, OR OTHER
BENEFITS.
IN
WITNESS WHEREOF, the parties have executed this Exhibit “A” as of the
2nd
day of
January,
2007.
XXXXX
ENTERPRISES, INCORPORATED EXECUTIVE
|
By:
/s/ Xxxxx X. Xxxxxx
|
By:
/s/ Xxxxx Hobby, Jr.
|
|
|
Xxxxx
X. Xxxxxx
|
Xxxxx
Hobby, Jr.
|
|
|
Senior
Vice President
and General Counsel
|
Senior
Vice President,
Global Operations
|
