EMPLOYMENT AGREEMENTEmployment Agreement • March 30th, 2007 • MSX International Inc • Services-help supply services • Michigan
THIS EMPLOYMENT AGREEMENT (the “Agreement”), executed October 27, 2006, between Peter Leger (the “Executive”) and MSX International, Inc., a Delaware corporation (the “Company”), recites and provides as follows:
AMENDMENT TO EMPLOYMENT AGREEMENTEmployment Agreement • March 30th, 2007 • MSX International Inc • Services-help supply services
This Amendment is effective as of the 8th day of December, 2006, and is between MSX International, Inc., a Delaware corporation (the “Company”), and Fred Minturn (the “Executive”).
October 27, 2006MSX International Inc • March 30th, 2007 • Services-help supply services
You are entering into an Employment Agreement dated as of October 27, 2006 to serve as the Chief Executive Officer and President of MSX International, Inc. (the “Company”) As we have discussed, given the Company’s current refinancing issues, it would be very difficult to construct an Equity Incentive Program that would provide a meaningful incentive and return to you. We wish to confirm in writing to you our discussions regarding an Equity Incentive Plan. Upon completion of a successful refinancing of the Company’s debt, the Company’s Board of Directors will develop and implement, in consultation with you, an Equity Incentive Plan designed to provide you value of $5,000,000.00 with potential for further upside in equity value (to be mutually defined by the parties) upon a successful exit in a normal 3 to 5 year timeframe, and that is structured in a manner that is tax efficient for the participants in such plan. We also agree that any stock or stock units issued to you will have a four
