|
|
|
|
Document Preview Senior Executive Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Senior Executive Agreement |
|||
|
Entities: |
|
|||
|
Date: |
2004 |
|||
|
Size: |
Preview shows 6KB of 40KB total |
|||
|
Price: |
$31 |
|||
|
ID: |
#1054846 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
SENIOR EXECUTIVE AGREEMENT
THIS AGREEMENT is made effective as of April 1, 2004, between GLOBAL IMAGING SYSTEMS, INC., a Delaware corporation (the Company), and RAYMOND SCHILLING (Executive).
Recitals
A. The Company and Executive desire to enter into an agreement pursuant to which Executive will be employed as the Senior Vice President and Chief Financial Officer of the Company on the terms and conditions set forth in this Agreement.
B. Certain definitions are set forth in Section 4 of this Agreement.
Agreement
The parties hereto agree as follows:
1. Employment. The Company hereby engages Executive to serve as the Senior Vice President and Chief Financial Officer of the Company, and Executive agrees to serve the Company, during the Service Term (as defined in Section 1(d) hereof) in the capacities, and subject to the terms and conditions, set forth in this Agreement.
(a) Services. During the Service Term, Executive, as Senior Vice President and Chief Financial Officer of the Company, shall have all the duties and responsibilities customarily rendered by Chief Financial Officers of companies of similar size and nature and as may be reasonably assigned from time to time by the Board or the Companys Chief Executive Officer. Executive will devote his best efforts and substantially all of his business time and attention (except for vacation periods and periods of illness or other incapacity) to the business of the Company and its Affiliates. Notwithstanding the foregoing, and provided that such activities do not interfere with the fulfillment of Executives obligations hereunder, Executive may (A) serve as an officer, director or trustee of any charitable or non-profit entity; (B) own a passive investment in any private company and own up to 5% of the outstanding voting securities of any public company; or (C) serve as a director of up to two other companies so long as such companies do not directly compete with the Company. Unless the Company and Executive agree to the contrary, Executives place of employment shall be at the Companys executive offices in Sacramento, California; provided, however, that Executive will travel to the Companys principal headquarters in Tampa, Florida or to such other locations of the Company and its Affiliates as may be reasonably necessary and/or as required by the Board in its sole discretion in order to discharge his duties hereunder.
(b) Salary, Bonus and Benefits.
(i) Salary and Bonus. During the Service Term, the Company will pay Executive a base salary (the Annual Base Salary) as the Board may designate from time to time, at the rate of not less than $337,500 per annum; provided, however, that the Annual Base Salary shall be subject to review annually by the Board for potential upward increases thereon. The Executive will be eligible to receive an annual bonus in an amount of up to 60-115% of Executives Annual Base Salary for such year, as determined by the Board based upon the Companys achievement of budgetary and other objectives set by the Board in good faith and consistent with past practice in consultation with the Executive, which bonus criteria calculation shall be reasonable in light of the Companys past years performance and shall be communicated to Executive by the Board prior to the start of the Companys fiscal year. The bonus criteria calculation for the fiscal year ending March 31, 2005 has been delivered to Executive. For the fiscal year ending March 31, 2006 and thereafter, the Board shall also reevaluate such bonus criteria calculation in light of the current economic conditions in the Companys industry. The annual bonus, if any, shall be due and payable to Executive prior to June 30 of the following fiscal year.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us