TRANSITION AGREEMENTTransition Agreement • November 12th, 2013 • Sothebys • Services-business services, nec
This Transition Agreement ("Transition Agreement") effective as of September 20, 2013 ("Effective Date") between Sotheby's (the "Company") and William S. Sheridan ("WSS") is entered into in connection with the separation from service of WSS.
TO: Sotheby’s Bank Group FROM: General Electric Capital Corporation, as Agent RE: Rights Agreement DATE: October 4, 2013Sothebys • November 12th, 2013 • Services-business services, nec
Reference is hereby made to that certain Amended and Restated Credit Agreement (as amended, restated or otherwise modified from time to time, the “Credit Agreement”), dated as of December 19, 2012, by and among Sotheby’s, a Delaware corporation (“Parent”), Sotheby’s, Inc., a New York corporation (“Sotheby’s, Inc.”), Sotheby’s Financial Services, Inc., a Nevada corporation (“SFS Inc.”), Sotheby’s Financial Services California, Inc., a Nevada corporation (“SFS California”), Oberon, Inc., a Delaware corporation (“Oberon”), Sotheby’s Ventures, LLC, a New York limited liability company (“Ventures LLC”), Oatshare Limited, a company registered in England (“Oatshare”), Sotheby’s, a company registered in England (“Sotheby’s U.K.”), Sotheby’s Financial Services Limited, a company registered in England (“SFS Ltd.”) and Sotheby’s Hong Kong Limited, a company incorporated in Hong Kong (“Sotheby’s H.K.” and, collectively with Parent, Sotheby’s, Inc., SFS Inc., SFS California, Oberon, Ventures LLC, O
Severance AgreementSeverance Agreement • November 12th, 2013 • Sothebys • Services-business services, nec • New York
This letter agreement (the “Agreement”) sets forth our understanding with respect to your rights and obligations in the event of the termination of your employment with Sotheby’s (together with all of its subsidiaries and related entities “Sotheby’s” or the “Company”). This Agreement is being entered into concurrently with your acceptance of employment effective October 7, 2013, pursuant to the Company’s Offer Letter (the “Offer Letter”) dated September 22, 2013. This Agreement is being provided to you because you are a key employee at the Company and perform highly specialized and unique duties for the Company. Consequently, Sotheby’s is offering you the following terms and financial enhancements to ensure your continued loyalty to the Company. Defined terms used herein are used with the meanings given to them in Exhibit A.
