ADDENDUM TO LETTER AGREEMENT DATED MAY 12, 2007Severance Agreement • August 9th, 2007 • First Albany Companies Inc • Security brokers, dealers & flotation companies
In the event that, as a result of action by Company, Executive no longer serves as Company’s Chief Financial Officer (“CFO”), or is assigned duties that are materially inconsistent with the position of CFO or that constitute a diminution of Executive’s authority, duties or responsibilities as CFO, Executive may at his election resign from his employment with Company and receive upon the termination of his employment a Severance Payment. For purposes of this agreement, a “Severance Payment” shall be a lump-sum cash amount equal to Five Hundred Twenty-Five Thousand Dollars ($525,000.00) less the market value, as of the date of termination of Executive’s employment, of one share of Company’s common stock multiplied by the number of Restricted Stock Units granted to Executive that have vested before the date of termination (adjusted for any splits). As a condition to receiving a Severance Payment, Executive shall deliver an irrevocable general release of claims against the Company, its af
August 6, 2007 FIRST ALBANY COMPANIES INC.Loan Agreement • August 9th, 2007 • First Albany Companies Inc • Security brokers, dealers & flotation companies
EMPLOYMENT AGREEMENTEmployment Agreement • August 9th, 2007 • First Albany Companies Inc • Security brokers, dealers & flotation companies • New York
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made as of the Effective Date, by and between FIRST ALBANY COMPANIES INC., a New York corporation (“Company”) and PETER McNIERNEY (“Executive”).
Non-Compete and Non-Solicit AgreementNon-Compete and Non-Solicit Agreement • August 9th, 2007 • First Albany Companies Inc • Security brokers, dealers & flotation companies
FOR GOOD AND VALUABLE CONSIDERATION, including the award of Restricted Stock Units, as more fully described in the accompanying letter (10% of which will be fully vested upon grant), hereby acknowledged, First Albany Companies, Inc. and its subsidiaries (“First Albany”) and its employee who is a signatory hereto (the “Key Employee Partner”) (First Albany and the Key Employee Partner being referred to, collectively, as the “Parties”) agree as follows:
