EMPLOYMENT AGREEMENTEmployment Agreement • October 15th, 2004 • Applica Inc • Electric housewares & fans • Florida
EMPLOYMENT AGREEMENT (“Agreement”) effective as of May 1, 2004 (“Effective Date”), made and entered into by and among Applica Incorporated, a Florida corporation (together with its permitted successors and assigns pursuant to this Agreement referred to as “Applica”), Applica Consumer Products, Inc., a Florida corporation (together with its permitted successors and assigns pursuant to this Agreement referred to as the “Subsidiary”), and Harry D. Schulman (the “Executive”). Applica and the Subsidiary (collectively, the “Companies”) and the Executive are sometimes each individually referred to in this Agreement as a “Party” and are sometimes collectively referred to herein as the “Parties.” The Companies shall be jointly and severally liable for all obligations of Applica and the Subsidiary under this Agreement; provided, however, that it is the understanding of the Parties that any obligations with respect to payroll matters are the responsibility of the Subsidiary. In consideration of t
