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Executive Employment Agreement

 

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Title:

Executive Employment Agreement

Entities:

Haggar Corp.

Date:

2005

Size:

Preview shows 12KB of 42KB total

Price:

$40

ID:

#886922

 

 

► Employment ► Employment ► Executive Employment Agreements
► Consumer ► Apparel & Accessories

 

 

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THIS AGREEMENT IS SUBJECT TO ARBITRATION

AS PROVIDED IN SECTION  M

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Executive Employment Agreement (Agreement), dated as of August 8, 2005, entered into between John W. Feray, an individual residing in Dallas County, Texas (Executive), and Haggar Clothing Co., a Nevada corporation, having principal offices at 11511 Luna Road, Dallas, Texas (Haggar or the Company).

 

Through this Agreement Haggar employs Executive, and Executive accepts employment by Haggar, upon the terms and subject to the conditions of this Agreement.

 

Now, therefore, in consideration of the premises, the agreements and covenants set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Haggar and Executive agree as follows:

 

A.                                    Definitions   In this Agreement (including this Section) the following terms shall have the following meaning:

 

1.                                       Affiliate shall mean, with respect to any Person, any Person which, directly or indirectly controls or is controlled by that Person, or is, under common control with that Person.  For purposes of this definition, control (including, with correlative meaning, the terms controlled by and under common control with), as used with respect to any Person, shall mean the possession, directly or indirectly, of power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise.

 

2.                                       The Plan shall mean the Haggar Clothing Co. Corporate Severance Plan for Associates effective August 29, 1997, and any subsequent modifications or amendments thereto.

 

3.                                       Person shall mean any individual, corporation, partnership, joint venture, trust, association, unincorporated organization or other entity.

 

4.                                       Section shall refer to sections of this Agreement.

 

5.                                       Effective Date shall mean the date the Agreement commences as set forth in Section C.

 



 

6.                                       Subsidiary shall mean any corporation in an unbroken chain of corporations beginning with Haggar Corp., if each such corporation (other than the last corporation in the unbroken chain) owns stock possessing more than fifty per cent (50%) of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

B.                                    Duties of Executive.   Executive will serve as Senior Vice President and Chief Accounting Officer, or such other position as may be assigned by Haggars Chief Operating Officer, and shall perform such duties consistent with such position as are determined and directed by the Chief Operating Officer.

 

C.                                    TermThis Agreement shall be effective commencing on August 8, 2005 (the Effective Date), and continue until August 30, 2006 (the Employment Period), subject to earlier termination pursuant to the provisions of Section J.

 

D.                                    Time Required to Devote to Duties and Place of Employment.  Executive shall devote his full working time, attention and ability to the business of Haggar, including, if applicable, its Subsidiaries and/or Affiliates to which Executive may have been assigned responsibilities under Section B.  Executive shall well and faithfully serve Haggar, including such applicable Subsidiaries and/or Affiliates, during the continuance of his employment under this Agreement and use his best efforts to promote the interests and welfare of Haggar, its Subsidiaries and Affiliates.  Notwithstanding the foregoing, Executive shall be entitled to participate in community affairs and passive investment  activities not involving any measurable portion of Executives business time, so long as such activities do not interfere with the due performance of his duties under this Agreement.  Executives place of employment shall be the Dallas/Fort Worth, Texas, area or such other area in which the Board of Directors of Haggar, with the concurrence of the chief executive officer of Haggar, shall determine to locate the principal executive offices of Haggar.


 

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