|
|
|
|
Document Preview Employment Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Employment Agreement |
|||
|
Entities: |
||||
|
Date: |
2006 |
|||
|
Size: |
Preview shows 6KB of 47KB total |
|||
|
Price: |
$49 |
|||
|
ID: |
#2072444 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this "Agreement"), by and between MarineMax, Inc., a
Delaware corporation (the "Company"), and Michael H. McLamb ("Executive") is
entered into and effective as of the 7th day of June, 2006.
RECITALS
A. The Company is engaged primarily in the business of selling, renting,
leasing, and servicing boating, nautical, and other related lifestyle
entertainment products and services, and related activities (collectively, the
"Watercraft Business"), and Executive has experience in such business.
B. Executive currently serves as Executive Vice President and Chief Financial
Officer of the Company. The Company desires to assure itself of the continued
availability of Executive.
C. The Company desires to employ Executive, and Executive desires to accept such
employment, pursuant to the terms and conditions set forth in this Agreement,
which shall replace the existing employment agreement between the Company and
Executive.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises, terms, covenants, and
conditions set forth herein and the performance of each, it is hereby agreed as
follows:
1. EMPLOYMENT AND DUTIES.
(a) EMPLOYMENT. The Company hereby employs Executive, and Executive hereby
agrees to act, as Executive Vice President and Chief Financial Officer of the
Company. As such, Executive shall have responsibilities, duties, and authority
reasonably accorded to, expected of, and consistent with Executive's position
and Executive shall report directly to the Chief Executive Officer and to the
Board of Directors of the Company (the "Board"). Executive hereby accepts this
employment upon the terms and conditions herein contained and, subject to
Section l(c) hereof, agrees to devote his best efforts and substantially all of
his business time and attention to promote and further the business of the
Company.
(b) POLICIES. Executive shall faithfully adhere to, execute, and fulfill all
lawful policies established by the Company.
(c) OTHER ACTIVITIES. Executive shall not, during the period of his employment
hereunder (the "Term"), be engaged in any other business activity pursued for
gain, profit, or other pecuniary advantage if such activity interferes in any
material respect with Executive's duties and responsibilities hereunder. The
foregoing limitations shall not be construed as prohibiting Executive from (i)
making personal investments in such form or manner as will neither require his
services in the operation or affairs of the companies or enterprises in which
such investments are made nor subject Executive to any conflict of interest with
respect to his duties to the Company, (ii) serving on any civic or charitable
boards or committees, (iii) delivering lectures or fulfilling speaking
engagements, or (iv) serving, with the written approval of the Board, as a
director of one or more corporations, in each case so long as any such
activities do not significantly interfere with the performance of Executive's
responsibilities under this Agreement. In addition, Executive shall comply with
the restrictions listed in Section 3 of this Agreement.
(d) PLACE OF PERFORMANCE. Executive shall not be required by the Company or in
the performance of his duties to relocate his primary residence.
1
{PAGE}
2. COMPENSATION. For all services rendered by Executive, the Company shall
compensate Executive as follows:
(a) BASE SALARY Effective the date hereof, the base salary payable to Executive
shall be Two Hundred Twenty-five Thousand Dollars ($225,000) per year, payable
on a regular basis in accordance with the Company's standard payroll procedures,
but not less than monthly. On at least an annual basis, the Board or a committee
of the Board shall review Executive's performance and may make increases to such
base salary if, in its sole discretion, any such increase is warranted. .
(b) BONUS OR OTHER INCENTIVE COMPENSATION. Executive shall be eligible to
receive a bonus or other incentive compensation as may be determined by the
Board or a committee of the Board based upon such factors as the Board or such
committee, in its sole discretion, may deem relevant, including, without
limitation, the performance of Executive and the Company; provided, however,
that the Board or a committee of the Board shall establish for each fiscal year
of the Company a bonus program in which Executive shall be entitled to
participate, which provides Executive with a reasonable opportunity, based on
the performance of the Company, the past compensation practices of the Company
and Executive's then base salary, to maintain or increase Executive's total
compensation compared to the previous fiscal year.
(c) EXECUTIVE PERQUISITES, BENEFITS, AND OTHER COMPENSATION. Executive shall be
entitled to receive additional benefits and compensation from the Company in
such form and to such extent as specified below:
(i) REIMBURSEMENT FOR EXPENSES. The Company shall provide reimbursement to
Executive for business travel and other out-of-pocket expenses reasonably
incurred by Executive in the performance of his services under this Agreement.
All reimbursable expenses shall be appropriately documented in reasonable detail
by Executive upon submission of any request for reimbursement and shall be in a
format and manner consistent with the Company's expense reporting policy.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us