CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Xxxxx X. Xxxxxxxx Position/Title: Vice President, General Counsel and Secretary Duties: You will be responsible for supervising and managing LSI’s legal, regulatory and compliance activities. As a member of the Company’s senior management team you will work closely with LSI’s President/COO, Chief Financial Officer and business unit heads regarding key decisions involving operating policy and corporate development. Specific responsibilities are summarized below.
CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Xxxxx Xxxxxx-Tique Position/Title: President and Chief Operating officer Employment Period: January 1, 2004 to December 31, 2006 Reporting Officer: Xxxxxxx X. Xxxxxxx, III Base Salary: $180,000 per annum Bonus: Executive shall be eligible for an incentive bonus under a sliding scale as approved by the Board's Compensation Committee that is equal to 67% of his Base Salary based upon the achievement of 100% of the Company's financial budget each year. In addition, the Executive shall be eligible for discretionary bonuses for the completion of projects that increase shareholder value including, but not limited to, strategic acquisitions, financings, contract wins, and new product launches at the discretion of the Board's Compensation Committee. Such annual bonus shall be paid within 30 days following the close of the Company's fiscal year. Notice Address: Xxxxx Xxxxxx-Tique 000 Xxxx 00xx Xxxxxx, Xxx XXX Xxx Xxxx, XX 00000 (000) 000-0000 COMPANY: /s/ XXXXXXX X. XXXXXXX, III Xxxxxxx X. Xxxxxxx, III Chairman and CEO EXECUTIVE: /s/ XXXXX XXXXXX-TIQUE Xxxxx Xxxxxx-Tique Effective Date/Date of Last Amendment: QuickLinks
CERTAIN TERMS OF EMPLOYMENT. The Executive shall devote the Executive’s best efforts and full business time and attention to the business and affairs of the Company; provided, however, that Executive may, to the extent such participation or service does not materially interfere with the performance of the obligations described in this Agreement: (i) participate in charitable, civic, political, social, trade, or other non-profit organizations; (ii) with the consent of Chief Executive Officer, such consent not to be unreasonably withheld, serve as a non-management director of a business corporation (or in a like capacity in other for-profit organizations); or (iii) managing Executive’s personal investments.
CERTAIN TERMS OF EMPLOYMENT. The Compensation Committee of the Board (the “Committee”) shall review Executive’s Base Salary from time to time. The Base Salary shall be payable biweekly or in such other installments as shall be consistent with the Company’s payroll procedures. The Base Salary may be increased at any time or from time to time, but it may not be decreased without the consent of the Executive.
CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Position/Title: Duties: Reporting Officer: Base Salary: Target Cash Incentive Opportunity as a Percentage of Base Salary: Work Arrangement: SCHEDULE 2 TO AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT FORM OF RELEASE AGREEMENT This release (the “Release”) is entered into by Liquidity Services, Inc. (the “Company”) and _____________ (“Executive”) pursuant to the Amended and Restated Executive Employment Agreement by and between the Company and Executive, effective as of ___________ (the “Employment Agreement”). This is the Release referenced in Section 8(f) of the Employment Agreement. Capitalized terms used herein but not defined herein shall have the meaning ascribed to such terms in the Employment Agreement. In exchange for and as a condition of receiving the payments and benefits set forth in Section 8 of the Employment Agreement, the parties agree as follows: •
CERTAIN TERMS OF EMPLOYMENT. This Letter Agreement is not a contract of employment. Your employment with the Company is “at will” and may be terminated by you or the Company at any time for any reason or no reason whatsoever.
CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Xxxxx X. Xxxxx Position/Title: Chief Financial Officer and Treasurer Duties: The Chief Financial Officer and Treasurer ("CFO") position will be responsible for supervising and managing LSI's financial, accounting, treasury, tax, human resources and investor relations activities. Specific CFO responsibilities are summarized below.
CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Wxxxxxx X. Xxxxxxx, III Position/Title: Chairman and Chief Executive Officer Employment Period: January 1, 2007 to December 31, 2009 Reporting Officer: Board of Directors Base Salary: $275,000 per annum Bonus: Executive shall be eligible for an incentive bonus under a sliding scale as approved by the Board’s Compensation Committee based on achieving selected financial targets as discussed and approved by the Board’s Compensation Committee. In addition, the Executive shall be eligible for discretionary bonuses for the completion of projects that increase shareholder value, at the discretion of the Board’s Compensation Committee. Such annual bonus shall be paid within 30 days following the close of the Company’s fiscal year. Notice Address: Wxxxxxx X. Xxxxxxx, III 7000 Xxxxxxxxx Xxxx Xxxx Xxxxxxxx. XX 00000 COMPANY: EXECUTIVE: Jxxxx Xxxxxxxx Vice President, General Counsel & Secretary Wxxxxxx X. Xxxxxxx, III
CERTAIN TERMS OF EMPLOYMENT. All capitalized but undefined terms in this Schedule shall have the meaning ascribed to them in the Agreement. Name: Xxxxx X. Xxxxxx (the “Executive”) Position/Title: Executive Vice President and Chief Financial Officer (“CFO”) Employment Period: One year from the Effective Date, which term shall automatically renew each year for additional one-year terms.
CERTAIN TERMS OF EMPLOYMENT. (a) While employed hereunder, the Executive shall serve as the Vice President, General Counsel of the Company, and in such position shall have the duties, responsibilities and authority commensurate with the status of such position in an entity of similar size and stature of the Company and shall render services consistent with such position. In all cases, the Executive shall be subject to the supervision and authority of, and shall report to the Chief Executive Officer of the Company. While employed by the Company, the Executive agrees to devote all of her working time and efforts to the business and affairs of the Company and its affiliates, subject to four calendar weeks of vacation as well as sick leave to which she is entitled in accordance with the Company’s policies as in effect at such time, and the Executive shall use her best efforts in such endeavors and shall not engage in activities that substantially interfere (individually or in the aggregate) with such performance. For the avoidance of doubt, the Executive may, in compliance with the preceding sentence, at any time during the Executive’s employment at the Company serve as a director of one for-profit enterprise and one non-profit enterprise, in each case so long as such directorship is both pre-approved by the Company (which approval will not be unreasonably withheld) and does not interfere with the Executive’s performance of her duties to the Company or interfere with or damage the business interests or reputation of the Company. The Executive agrees to discharge her duties to SeaCube diligently, faithfully and in the best interests of the Company. Notwithstanding the foregoing or anything else contained in this Agreement, the Company retains the right to terminate the Executive’s employment at any time for any reason or no reason (and whether or not for Cause (as defined below)). The Executive is an “at will” employee, and this Agreement is not a contract for employment for any specific period of time.
