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Title: |
Employment Agreement |
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Date: |
2007 |
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Preview shows 5KB of 26KB total |
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$34 |
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ID: |
#3026785 |
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EMPLOYMENT AGREEMENT
This Employment Agreement (this ?Agreement?) is entered into as of June 1, 2004 by and between Lynn Courville (the ?Executive?) and Mobile Storage Group, Inc., a Delaware corporation (the ?Company?).
WHEREAS, the Company desires the Executive to serve as its Director of Human Resources, and the Executive desires to serve as the Director of Human Resources of the Company for the term and upon the other conditions hereinafter set forth;
NOW, THEREFORE, in consideration of the agreements and covenants contained herein, the Executive and the Company hereby agree as follows:
ARTICLE 1
Employment
Section 1.1. Position; Term; Condition Precedent; Responsibilities. The Company shall employ the Executive as its Director of Human Resources based in Burbank, California for a term commencing on July 7, 2004 (the ?Commencement Date?) and ending on the date this Agreement is terminated pursuant to Article 3. The term of employment as prescribed in this Section 1.1 is hereinafter called the ?Employment Period? Subject to the powers, authorities and responsibilities vested in the Board of Directors (the ?Board?) of the Company and in duly constituted committees of the Board under the Delaware General Corporation Law and the Company?s Certificate of Incorporation and Bylaws, the Executive shall have the responsibilities assigned to her by the President and Chief Executive Officer of the Company and shall report to the President. The Executive shall also perform such other executive and administrative duties as the Executive may reasonably be expected to be capable of performing on behalf of the Company and its subsidiaries, as may from time to time be authorized or requested by the President. The Executive agrees to be employed by the Company in all such capacities for the Employment Period, subject to all the covenants and conditions hereinafter set forth.
Section 1.2. Faithful Performance. During the Employment Period, the Executive shall perform faithfully the duties assigned to her hereunder to the best of her abilities and devote substantially all of her business time and attention to the transaction of the business of the Company and its subsidiaries and not engage in any other business activities except with the approval of the Board. The Executive covenants, warrants and represents to the Company that she shall: (i) devote her best efforts to the fulfillment of her employment obligations; (ii) exercise the highest degree of loyalty and the highest ethical standards of conduct in the performance of her duties; and (iii) do nothing which the Executive knows or should know will harm, in any way, the business or reputation of the Company or any of its subsidiaries.
ARTICLE 2
Compensation
Section 2.1. Basic Compensation. As compensation for her services hereunder, the Company shall pay to the Executive during the Employment Period an annual salary of $105,000 (the ?Base Salary?), payable in installments in accordance with the Company?s normal payment schedule for senior management of the Company and subject to payroll deductions as may be necessary or customary in respect of the Company?s salaried employees. The Executive?s annual salary in effect from time to time under this Section 2.1 is hereinafter called her ?Basic Compensation?. Such Basic Compensation shall be determined on a pro rata basis for any period described in Article 3 which is not equal to one year.
Section 2.2. Discretionary Incentive Compensation. A discretionary bonus for 2004 may be paid upon the achievement of operational and strategic objectives. Notwithstanding anything to the contrary herein, the maximum discretionary bonus that Executive may earn during 2004 shall be pro-rated based on the number of days in the Employment Period during 2004. Such operational and strategic objectives shall be established by the President, and any discretionary bonus payable hereunder shall be payable within 30 days after finalization of the Company?s audited financial statements for the immediately preceding fiscal year, subject to final Board approval. Any discretionary bonus paid to Executive hereunder shall be referred to herein as a ?Discretionary Bonus.?
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