Document:

Exhibit 10.9

 

INDEPENDENT DIRECTOR
COMPENSATION POLICY

 

Non-employee members of the board of
directors Tops Holding Corporation who are not employees of Morgan Stanley
Private Equity are eligible to receive an annual cash retainer in the amount of
$60,000, which is
payable in quarterly installments of $15,000, and an initial equity grant as determined by the Board upon the director’s
appointment.

 

1Exhibit 10.10

 

EXECUTION COPY

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (this “Agreement”)
dated as of November 12, 2007, between HANK
ACQUISITION COMPANY, LLC, a Delaware limited liability company (the “Company”), and FRANK CURCI
(the “Employee”).

 

WHEREAS, the Company
has entered into a Limited Liability Company Interest Purchase
Agreement, dated as of October 11, 2007, by and among the Company, Hank Holding Corporation, a Delaware corporation,
Tops Holding, LLC, a New York limited liability company and Koninklijke Ahold
N.V., a public company with limited liability organized under the laws of the Netherlands (the “Purchase Agreement”).

 

WHEREAS, immediately following the consummation
of the transactions contemplated by the Purchase Agreement, pursuant to the
terms and subject to the conditions of a merger agreement to be entered into
between the Company and Tops Markets, LLC, a New York limited liability company
(“Tops
Markets”), the Company will be merged with and into Tops Markets, with Tops
Markets being the surviving company (the “Surviving Company”)  of such merger (the  “Merger”).

 

WHEREAS,  the Company  desires to
employ Employee, and Employee  is willing to enter into employment
and perform services for the Company, on the terms and subject to the conditions
set forth in this Agreement.

 

NOW  THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

 

Section 1.               Employer; Effective Date.

 

This
Agreement shall automatically become effective immediately following the
consummation of the Merger (the “Effective Date”). 
At such time and thereafter, the Surviving Company  shall be the “Company”  hereunder, and  the Managers of the Surviving Company shall  be
the “Managers” hereunder. 
Notwithstanding the foregoing, this Agreement shall automatically
terminate and be of no further force or effect on the date, if any, on which
the Purchase Agreement is terminated in accordance with its terms.  For purposes of clarification, the parties
shall have no obligations hereunder unless and until the Effective Date occurs.

 

Section 2.               Employment Period.

 

Pursuant
to the terms and subject to the conditions of this Agreement, the Company
hereby agrees to employ the Employee, and the Employee hereby agrees to be
employed by the Company, for the period commencing on the Effective Date and
ending on the second anniversary of the Effective Date (the “Initial Term”);  provided, the Initial
Term will automatically be extended for successive one-year periods either the
Company

 

 

or the Employee
does not,  prior to 10 days preceding
the expiration of the Initial Term or,  if previously extended pursuant to
the terms of this Section 2, the then-current expiration date, provide the other party
with written notice of termination.  As
used herein, the Initial Term plus the term of any such extension, or the
earlier termination of the Employee’s employment with the Company as hereafter provided,  is
referred to herein as the “Employment Period”.

 

Section 3.               Terms of Employment.

 

(a)           Position.  During the term of the Employee’s employment
with the Company, the Employee shall serve as Chief Executive Officer of the
Company and shall report to the Managers of the Company  (the “Managers”). 
The Employee shall, subject to the direction and supervision of the
Managers, have supervision and control over, and responsibility for, such
management and operational functions of the Company as are normally assigned to
a person in such position or as may reasonably change from time to time and
shall have such other powers and duties as may from time to time be prescribed
by the Managers consistent with the duties and authorities normally afforded to
a chief executive officer of a company  of
the general size and type of the Company.

 

(b)           Full Time.  During the Employment Period, and excluding
any periods of vacation and sick leave to which the Employee is entitled, the
Employee agrees to devote his full business time and efforts, to the best of
his ability, experience and talent, to the business and affairs of the
Company.  The Employee shall not be a
member of the board of directors or other comparable governing body of any  other entity or be employed  by or act as a consultant to, or otherwise
directly or indirectly engage in any other business activity on behalf of, any
other entity, in each case, without the prior written consent of the Company.

 

(c)           Compensation.

 

(i)            Base Salary.  Beginning on January 1, 2008, during the
Employment Period, the Employee shall receive an annual base salary of $500,000
(the “Annual Base Salary”).  The Annual Base Salary  shall be paid  in accordance  with
the customary payroll practices of the Company, subject to customary  withholding  and other payroll  taxes.

 

(ii)           Additional Compensation.  Promptly following the Effective Date,
Employee will be paid a one-time lump sum payment equal to $166,666.67, subject
to customary withholding and other payroll taxes, which represents a signing
bonus and the prepayment of the aggregate amount of the Employee’s salary for
services rendered during the year ending December 31, 2007.

 

(iii)          Bonuses.  Beginning with the calendar year starting January 1,
2008, and during the Employment Period, the Employee shall be eligible to
receive an annual bonus (the “Annual Bonus”)  in an  amount equal to up to 100%  of the Annual Base Salary,  which amount shall be determined in good  faith by the Managers based on
quantitative and  qualitative
factors (including, without  limitation,
the

 

2

 

Company’s  performance
relative  to its budget for the
applicable year) that the Managers deem appropriate.  Any Annual Bonus shall be payable  not more than 60 days following the
Company’s  receipt of its audited  financial statements for the applicable
year (subject to customary withholding and other payroll taxes); provided,  that
the Employee  was employed  by  the
Company  on December 31 of
such year.

 

(iv)          Benefits.  During the Employment Period, the Employee
shall be entitled to participate in all incentive, savings and retirement
plans, practices, policies and programs applicable generally to senior
executives of the Company and shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and
programs provided by the Company to the extent applicable generally to senior
executives of the Company.

 

(v)           Moving Expenses.  The Company
will provide  moving  expenses for Employee and his wife, including,  but not limited to, house hunting  trip’s and reimbursement  of up to $2,500 in documented  legal fees and expenses  (but  excluding
amounts paid  in respect of
mortgage “points”), in an aggregate amount not
to exceed $50,000, subject to the approval  of the Managers.  In
the event that Employee is subject to federal, state, or local income tax
(together, “Taxes”) as a
result of the reimbursement of such expenses (other than such legal fees and
expenses) (the “Reimbursement
Amount”), the Company  shall
pay to Employee an additional amount  (the
“Gross-Up Payment”),  such that
the net amount retained by Employee, after taking into account (A) the
payment  of any Taxes resulting  from the payment of the Reimbursement  Amount or any additional Taxes imposed
upon  the Gross-Up Payment, and (B) the
Tax benefit of any deduction or credit arising from the payment of any Taxes
referred to in clause (A), shall be equal to the  Reimbursement Amount; provided, however,  that the
Company  shall not  be responsible  for and the Gross-Up Payment
shall not include any interest or penalties imposed  on Employee due to his failure to timely
or properly file and pay  any Taxes
due.

 

(vi)          General Expenses.  The Employee shall be entitled to receive
reimbursement for all reasonable and documented out-of-pocket  expenses incurred by the Employee in
connection with the performance of his duties hereunder, in accordance with the
policies, practices and procedures of the Company as in effect from time to
time.

 

(vii)         Vacation and Holidays.  During the Employment Period, the Employee
shall be entitled to holidays and four weeks paid vacation in accordance  with the policies of the Company
applicable to other senior executives of the Company generally.

 

Section 4.               Termination of Employment.

 

(a)           Death or Disability.  The Employee’s employment shall terminate
automatically upon the Employee’s death. 
The Company may give to the Employee written notice of its intention to
terminate the Employee’s employment following the date on which the Employee is
determined to have a Disability (as defined below).  In such

 

3

 

event, the Employee’s employment with the
Company shall terminate effective on the 10th day after receipt of such notice
by the Employee (or such Employee’s legal guardian or next of kin, if
applicable)  if, within the
ten (10) days after such receipt, the Employee shall not have
returned to full-time performance of the Employee’s duties.  For purposes of this Agreement, “Disability”  shall have the same
definition as under the then-existing disability insurance plan covering such
Employee.

 

(b)           Cause.  The Employee’s employment may be terminated
at any time by the Company with or without Cause.  For purposes
of this Agreement, “Cause”  means  (i) the
willful failure by the Employee to perform such duties as are reasonably
requested by the Managers, as determined in good faith by the Managers, and
such failure shall have continued for a period of ten (10) days after
the Company gives written notice to Employee specifying such failure, (ii) the
failure by the Employee to observe material Company policies generally
applicable to employees of the Company,  (iii) gross
negligence or willful misconduct by  the
Employee in the performance of his duties, as determined in good faith by the
Managers, (iv) the commission by the Employee of any act of fraud
(including, without limitation,  any
material misrepresentation made by Employee to the Company or  any of its predecessors or affiliates,
including, without limitation, Morgan Stanley, and their respective agents, in
connection with such party’s evaluation of Employee as a prospective employee),
theft or financial dishonesty with respect to the Company or any of its
Affiliates (as defined hereinafter), (v) the Employee’s indictment,
conviction of, or pleading no contest or nolo contendere to, any felony or a
lesser crime involving dishonesty, (vi) breach of any material provision
of this Agreement, (vii) failure of the Employee to obtain or retain any
permits, licenses or approvals which may be required by any state or local
authorities in order to permit the Employee to continue employment in the
ordinary course as contemplated by this Agreement, (viii) chronic
absenteeism or (ix) alcohol or other substance abuse by the Employee.  “Without Cause”  shall mean a termination by the Company
of the Employee’s employment during the Employment Period for any reason other
than a termination based upon Cause, death or Disability (including, without
limitation, by reason of the Company’s delivery of written notice of
termination pursuant to Section 2). 
For purposes of this Agreement, the term “Affiliates” shall mean, with respect to
any person or entity, any person or entity controlling, controlled by, or under
common control with, such person or entity; provided,
that, for the purposes of this definition, “control” (including, with
correlative meanings, the terms “controlled by” and “under common control with”),
as used with respect to any person or entity, shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of such person or entity, whether through the ownership
of voting securities, by contract  or
otherwise.

 

(c)           Notice of Termination.  Any termination by the Company for Cause or
Without Cause or by the Company for Disability shall be communicated by Notice
of Termination to the other party hereto. 
For purposes of this Agreement, a “Notice of Termination” means a written notice
which (i) indicates the specific termination provision in this Agreement
relied upon, (ii) to the extent applicable, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for

 

4

 

termination of the Employee’s employment
under the provision so indicated and (iii) indicates the date of
termination (the “Termination
Date”).

 

(d)           Post-Termination Cooperation.  The Employee agrees and covenants that,
following the Employment Period, he shall, to the extent reasonably requested
by the Company, and except as may be required by applicable law, cooperate in
good faith with and assist the Company or any of  its Affiliates in the pursuit or defense of any claim,
administrative charge or cause of action by or against the Company or any of
its Affiliates as to which the Employee, by virtue of his employment with the
Company, has relevant knowledge or information, including by acting as the
Company’s representative in any such proceeding and, without the necessity of a
subpoena, providing truthful testimony in any jurisdiction or forum.  The Company shall reimburse the Employee for
his reasonable documented out-of-pocket expenses in complying with this Section 4(d).  The Company shall pay to the Employee in
respect of such cooperation an amount per day equal to a prorated portion of
Employee’s Annual Base Salary as of the Termination Date, payable in accordance
with the Company’s then-current compensation policies (subject to customary
withholding and other payroll taxes).

 

(e)           Post-Termination
Nonassistance.  The
Employee agrees and covenants that, following the Employment Period, he shall
not, except as may be required by applicable law, voluntarily assist, support
or cooperate with, directly or indirectly, any person or entity alleging or
pursuing or defending against any claim, administrative charge or cause of
action against or by the Company or any of its Affiliates, including by
providing testimony or other information  or
documents; except under compulsion of law in which case the Employee shall give
the Company notice thereof.  Should the
Employee be compelled to testify, nothing in this Agreement is intended or
shall prohibit the Employee from providing complete and truthful
testimony.  This Agreement shall not in any
way prevent the Employee from cooperating with any investigation by any
federal, state or local governmental agency.

 

Section 5.               Obligations of the Company upon Termination.

 

(a)           Without Cause.  If the Company  shall terminate the Employee’s employment Without Cause, then
the Company  will provide the
Employee with the following severance payments and/or benefits:

 

(i)            (A) on the
date on which the Employee would have received the next installment of his
Annual Base Salary following the Termination Date had he then been employed by
the Company, the Company shall pay to Employee a lump sum in the amount of the
Employee’s accrued but unpaid Annual Base Salary through the Termination Date,
and (B) within 45 days of
the Termination Date, the Company shall pay to Employee a lump sum in the
amount of any unpaid reimbursable expenses and any unpaid amounts to which the
Employee is entitled pursuant to any of the Company’s or its Affiliates’
benefit plans or programs in which the Employee participated during the Employment
Period (in the manner and in accordance with the terms of such plans and
program, in each case through the Termination Date) (“Accrued
Obligations”);

 

5

 

(ii)           in the sole discretion of
the Managers, the Company may pay to the Employee a prorated portion (based on
the number of days that have elapsed in such fiscal year prior to the
termination) of the Annual Bonus that would have been payable to the Employee
(assuming that the Employee had remained employed by the Company through  the end of such fiscal year) for the
fiscal year in which such termination occurs payable in accordance with the
Company’s then-current compensation policies;

 

(iii)          (A) if the Termination
Date occurs on or prior to the second anniversary of the Effective Date, the
Company shall continue to pay the Employee his Annual Base Salary in accordance
with customary payroll practices (and subject to customary withholding and
payroll taxes) until the third anniversary of the Effective Date, and (B) if
the Termination Date occurs following the second anniversary of the Effective
Date, the Company shall continue to pay the Employee his Annual Base Salary in
accordance with customary payroll practices (and subject to customary
withholding and payroll taxes) until the first anniversary  of the Termination Date (either such
period, the “Severance Period”);  and

 

(iv)          at the expense of the
Company, the Employee and members of his family, if applicable, shall be
entitled to continue their participation  in
all welfare and benefit plans of the Company or its Affiliates in which the
Employee was participating immediately prior to the Termination Date (as such
benefits are from time to time in effect at the Company or its Affiliates), on
the same basis as other senior executives of the Company  or its Affiliates until the earlier of (A) the
expiration of the Severance Period and (B) the date that the Employee is
eligible to receive coverage and benefits from a new employer; provided, however,  that if the Employee
is precluded from continuing his participation in any welfare or benefit plan
of the Company or its Affiliates (pursuant to the terms and subject to the
conditions of the applicable welfare or benefit plan) in which he was
participating as of the Termination Date, then the Company shall pay him the
economic equivalent of the benefits provided under such plan in which he is
unable to participate for the period specified above, it being understood that
the economic equivalent of a benefit foregone shall be deemed to be the cost in
the State of New York that would reasonably be incurred by the Employee in
obtaining  such benefit himself on
an individual basis.

 

(b)           Cause; By the Employee.  If the Employee’s employment shall be
terminated by the Company for Cause, or by the Employee for any reason, then
the Company shall have no further payment obligations to the Employee other
than for (i) payment of Accrued Obligations to the Employee, and (ii) as
otherwise required under the Consolidated Omnibus Budget Reconciliation Act of
1985.

 

(c)           Death; Disability.  If the Employee’s employment is terminated
due to death or Disability of the Employee, then the Company shall have no
further payment obligations to the Employee (or his legal representative, as applicable)
other than for:  (i) payment of
Accrued Obligations to the Employee or his heirs, as applicable; (ii) payment
to the Employee (or his heirs) of a prorated portion (based  on the number of days that have elapsed in
such fiscal year prior to the termination) of the Annual Bonus

 

6

 

that would have been payable to the Employee
(assuming that the Employee had remained employed by the Company through the
end of such fiscal year) for the fiscal year in which such termination occurs
payable in accordance with the Company’s then-current compensation  policies; (iii) continuance of
benefits under the Company’s or its Affiliates’ disability, life, welfare and
benefit plans to the Termination Date; and (iv) as otherwise required
under the Consolidated Omnibus Budget Reconciliation Act of 1985.

 

(d)           Condition; Remedies.  The Employee acknowledges and agrees that (a) the
Company’ obligations to make payments under Sections 5(a)(ii), (iii) and
(iv) will be conditioned on Employee executing and delivering a
customary general release in form and substance satisfactory to the Company,
and (b) except as provided in paragraphs (a), (b) and (c) of
Section 5, from and after the Termination Date, the Company shall
not have any obligation to make any payments whatsoever to Employee with
respect to his employment by the Company and any and all rights of the Employee
to any Annual Base Salary, Annual Bonus or other benefits pursuant to such
employment shall automatically and immediately terminate upon  the Termination Date and the Employee
covenants not to assert or pursue any other remedies, at law or in equity, with
respect to any termination of employment.

 

(e)           Resignation upon Termination.  Notwithstanding anything to the contrary contained
herein, upon termination of employment hereunder for any reason, Employee shall
be deemed to have given the Company notice of his resignation from any and all
positions as officer of the Company and its Affiliates and as member of the
board of directors or other similar governing body of the Company and its
Affiliates, to the extent applicable.

 

(f)            Return of Company Property.  Upon termination of employment hereunder,
Employee covenants and agrees that Employee shall return any and all of the
Company’s and its Affiliates’ property (including, without limitation, all
computers, keys, credit cards, identification tags, documents and other
proprietary materials) and other materials.

 

Section 6.               Non-Compete.
 During the Employment Period and  for one (1) year after the Termination Date (the “Non-Compete Period”),  Employee agrees that he shall not, and
shall not permit any of his Affiliates to, directly or indirectly, own, manage,
control, participate in, consult with, render services for, or in any manner engage
in any activity or represent any business whether now existing or hereafter
established that competes with (or proposes or plans to compete with) the
Company or its Affiliates (a “Competitor”)  (as determined in good faith by the
Managers) in any line of business engaged in or under development by the
Company; nor shall Employee entice, induce or encourage any of the Company’s
other employees to engage in any activity which, were it done by Employee,
would violate any provision hereof.  As
used in this Section 6, the term “any line of business engaged in or under
development by the Company”  shall be
applied as of the Termination Date or expiration of the Employment Period.

 

Section 7.               Non Solicitation.  The Company and Employee
hereby acknowledge that a prohibition on solicitation of the Company’s
customers, suppliers and

 

7

 

other employees after the
termination of Employee’s employment is necessary to protect the legitimate
interests of the Company and to protect its secret and confidential information
and trade secrets.  During the  Non-Compete
Period, Employee shall not contact, with a  view towards purchasing or selling
any product or service competitive with any product or service purchased or
sold by the Company or any of its subsidiaries, or purchase or  sell any
product or service from or to any person, firm, association, corporation or
other entity whatsoever:  (i) that
Employee solicited, contacted or otherwise dealt  with on
behalf of the Company or any of its subsidiaries during the twelve (12)
month period or any portion thereof preceding the Termination Date; or (ii) which is  known
by Employee to have been a customer of the Company or any of its subsidiaries
during the twelve (12) month period or any portion thereof preceding the
Termination Date.  During the Non-Compete
Period, Employee shall not solicit, hire or assist others in soliciting or hiring any employee of the Company.  The Company shall have the option to extend
the Non-Compete Period for up to one (1) additional year (the “Extension Year”), provided that the Company shall continue to pay Employee his
Annual Base Salary in accordance with customary payroll practices (and subject
to customary withholding and payroll taxes) during such Extension Year (or any
portion thereof).

 

Section 8.               Nondisclosure and Nonuse of Confidential Information.

 

(a)           The Employee will not
disclose or use at any time, either during the Employment Period or thereafter,
any Confidential Information (as hereinafter defined) of which the Employee is
or becomes aware, whether or not such information is developed by him, except
to the extent that such disclosure or use (i) is directly related to and
required by the Employee’s performance in good faith of duties assigned  to the  Employee
by the Company, (ii) has been expressly authorized by the Managers or (iii) is
required by applicable law; provided,
however, that this sentence shall not be deemed to prohibit
the Employee from complying with any subpoena, order, judgment or decree of a
court or governmental or regulatory agency of competent jurisdiction  (an “Order”); provided, further, however, that (i) the
Employee agrees to provide the Company with prompt written notice of any such
Order and to assist the Company, at the Company’s expense, in asserting any
legal challenges to or appeals of such Order that the Company in its reasonable
discretion pursues, and (ii) in complying with any such Order, the
Employee shall limit his disclosure only to the Confidential Information that
is expressly required to be disclosed by such Order. The Employee will take all
appropriate steps to safeguard Confidential Information and to protect it
against disclosure, misuse, espionage, loss and theft.  The Employee shall deliver to the Company at
the termination of the Employment Period, or at any time the Company may
request, all memoranda, notes, plans, records, reports, computer tapes and
software and other documents and data (and copies thereof) relating to the
Confidential Information or the Work Product (as hereinafter defined) of the
business of the Company or any of its Affiliates which the Employee may then
possess or have under his control.

 

(b)           As used in this Agreement,
the term  “Confidential Information”  means information
that is not generally known to the public (including the existence and content
of this Agreement) and that is used, developed or obtained  by the Company or

 

8

 

any of its Affiliates in connection with its
business, including, but not limited to, information, observations and data
obtained by the Employee while employed by the Company or any predecessors
thereof (including those obtained prior to the date of this Agreement)
concerning (i) the business or affairs of the Company or such
predecessors, (ii) products or services, (iii) fees, costs and
pricing structures, (iv) designs, (v) analyses, (vi) drawings,
photographs and reports, (vii) computer software, including operating
systems, applications and program listings, (viii) flow charts, manuals
and documentation, (ix) data bases, (x) accounting and business
methods, (xi) inventions, devices, new developments, methods and
processes, whether patentable or unpatentable and whether or not reduced to
practice, (xii) customers and clients and customer or client lists,
(xiii) other copyrightable works, (xiv) all production methods,
processes, technology and trade secrets, and (xv) all similar and related
information in whatever form. Confidential Information will not include any  information (x) that has been
published  in a form generally  available to the public prior (except
through an act of the Employee) to the date the Employee proposes to disclose
or use such information, (y) that is or becomes available to Employee on a
nonconfidential basis from any source excluding the Company or one of its
representatives or Affiliates, which source has represented to Employee (and
which Employee has no reason to disbelieve after due inquiry) is entitled to
disclose it; provided,  that upon Employee
becoming aware that such source was not entitled to disclose such information,
such information shall be Confidential Information for purposes hereof, or (z) that
was known to Employee  on a
nonconfidential basis prior to its disclosure to Employee by the Company or one
of its representatives or Affiliates.  Confidential Information will not be deemed to
have been published merely because individual portions of the information have
been separately published, but only if all material features comprising such
information have been published in combination.

 

Section 9.               Property, Inventions and Patents.

 

The
Employee agrees that all inventions, innovations, improvements, technical
information, systems, software developments,
methods, designs, analyses, drawings,
reports, service marks, trademarks, trade names, logos and all similar
or related information (whether patentable or unpatentable) which relates to
the Company’s or any of its Affiliates’ actual or anticipated business,
research and development or
existing or future products or services
and which are conceived,
developed or made by the Employee (whether or not during usual business hours
and whether or not alone or in conjunction with any other person) while
employed (and for the Non-Compete
Period if and to the
extent such Work Product (as hereinafter defined) results from any work
performed for the Company or any of its Affiliates, any use of the Company’s or any of its Affiliates’ premises or property or any use of the Company’s or any of its
Affiliates’ Confidential Information)
by the Company (including those conceived, developed or made prior to
the date of this Agreement)
together with all patent applications, letters
patent, trademark, tradename and
service mark applications or registrations, copyrights and reissues thereof
that may be granted for or upon any of
the foregoing (collectively referred to
herein
as, the “Work Product”),  belong in all instances
to the Company  or such Affiliate.  The Employee  will promptly disclose such Work
Product to the Managers and perform all actions reasonably requested by the
Managers (whether during or after the Employment

 

9

 

Period) to establish and confirm the Company’s or
such Affiliates’ ownership of
such Work Product (including,
without  limitation, the
execution and delivery of assignments, consents, powers of attorney and other
instruments) and to provide reasonable assistance to the Company or any of its
Affiliates (whether during or after the Employment Period) in connection with
the prosecution of any applications for patents, trademarks, trade names,
service marks or reissues thereof or in the prosecution or defense of
interferences relating to any Work Product.  The Employee recognizes and agrees that the
Work Product, to the extent copyrightable, constitutes works for hire under the
copyright laws of the United States or corresponding foreign law.

 

Section 10.             Enforcement.

 

Because
the Employee’s services are special, unique and extraordinary and because the
Employee has access to Confidential Information and Work Product, the parties
hereto agree that money damages would be
an inadequate remedy for any breach of this Agreement.  Therefore, in the event of a breach or
threatened breach of this Agreement, the Company or its successors or assigns
may, in addition to other rights and
remedies existing in their favor
at law or in equity, apply to
any court of competent jurisdiction for specific performance and/or injunctive
or other relief in order to enforce, or prevent any violations of, the
provisions hereof (without posting a
bond or other security).

 

Section 11.             Assurances by the Employee.

 

The
Employee represents and warrants to the Company that he may enter into and
fully perform this Agreement without
breaching, violating or conflicting with (i) any judgment, order, writ, decree or
injunction of any court, arbitrator, government agency or other
tribunal that applies to the
Employee or (ii) any agreement, contract, obligation or understanding to which the Employee is
a party or may be bound.

 

Section 12.             Non-Disparagement.

 

The
Employee agrees that; except as may be required by applicable law, he will not
make, or cause to be made, any statement, observation or opinion, or
communicate any information (whether
oral or written), to any person other than
the Managers of the Company, that disparages the Company or any of its Affiliates (including, without limitation,
Morgan Stanley or any of its Affiliates) or is likely in any way to harm the business or the
reputation of the Company or any of its Affiliates (including, without
limitation, Morgan Stanley or any of
its Affiliates), or any of their respective former, present, or future
Managers, directors, officers, members, stockholders, employees, vendors, clients,
successors or assigns.

 

Section 13.             Termination of Severance Payments.

 

In
addition to the foregoing, and  not in any way in limitation
thereof, or in limitation of any right or remedy otherwise available to the
Company, if, after any  termination of employment, the
Employee violates (a) any provision of Section 6, 7, 8, 9, 10, 11 or 12 of this
Agreement or (b) any other provision of this Agreement in any

 

10

 

material respect and (in the case of this clause (b))
such violation shall have continued for a period of ten (10) days after
the Company gives written notice
to Employee specifying  such violation, then in either
case, the provisions set forth in clauses (ii), (iii) and (iv) of
Section 5(a) and clause (ii) of Section 5(c),
and the Company’s obligations thereunder, shall be terminated and of no further
force or effect, without limiting or affecting the Employee’s obligations under
Sections 6,  7, 8, 9, 10, 11 or 12,
or the Company’s other rights and  remedies available at law or
equity.

 

Section 14.             General Provisions.

 

(a)           Severability.  It is the desire and intent of the parties
hereto that the provisions of this Agreement be enforced to the fullest extent
permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. 
Accordingly,  if any
particular provision of this Agreement shall be adjudicated by a court of
competent jurisdiction to be invalid, prohibited or unenforceable for any
reason, such provision, as to such jurisdiction, shall be ineffective, without
invalidating the remaining provisions of this Agreement or affecting the
validity or enforceability of such provision in any other jurisdiction.

 

(b)           Entire Agreement.  This Agreement embodies the complete
agreement and understanding between the parties hereto with respect to the
subject matter hereof and  supersedes
and preempts any prior understandings,  agreements
or representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way.

 

(c)           Counterparts.  This Agreement may be executed in separate
counterparts (delivery of which may occur by facsimile or via email in a
portable document format (.pdf)), each of which is deemed to be an original and
all of which taken together constitute one and the same agreement.

 

(d)           Successors and  Assigns; Beneficiaries.  This Agreement is personal to the Employee
and without the prior written consent of the Company shall not be assignable  by the Employee.  This Agreement shall inure to the benefit of
and be enforceable by the Employee’s legal representatives, and shall be
binding upon the Company’s successors and assigns.  This Agreement shall be automatically
assigned,  without any action  of the parties to a successor by merger or
consolidation of the Company and  all
references to the Company  herein
shall be deemed to refer to such successor.

 

(e)           Third Party Beneficiary.  Morgan Stanley shall be a third party
beneficiary to the agreements made in this Agreement and shall have the right
to enforce such agreements directly against Employee.  Except as set forth in the preceding
sentence, nothing herein is intended to, nor shall it, confer, expressly or by
implication, upon any person or entity any right or remedy under or by reason
of this Agreement, whether as a purported third party beneficiary or otherwise.

 

11

 

(f)            Governing Law.  This Agreement and the rights and obligations
of the parties hereunder shall be governed by and construed in accordance with
the laws  of the State of New York
without giving effect to its conflict of laws principles.

 

(g)           Submission to Jurisdiction.  Any judicial proceeding brought against
either of the parties on any dispute arising out of this Agreement or any
matter related hereto shall be brought exclusively in the courts of the State
of New York located in Buffalo, New York or in the United States
District Court for the Western District of New York, and, by execution and
delivery of this Agreement, each of the parties accepts the exclusive
jurisdiction of such courts, and irrevocably agrees to be bound by any judgment
rendered thereby in connection with this Agreement.

 

(h)           Waiver of Jury Trial.  The Company and Employee hereby waive, to the
fullest extent permitted by law, any right it may have to a trial by jury in
respect of any litigation as between the parties directly or indirectly arising
out of, or in connection with, this Agreement.

 

(i)            Amendment and Waiver.  Subject to Section 14(a) hereof,
the provisions of this Agreement may be amended and waived only with the prior
written consent of the Employee and the Company and no course of conduct or
failure or delay in enforcing the provisions of this Agreement shall be
construed as a waiver of such provisions or affect the validity, binding effect
or enforceability of this Agreement or any provision hereof.

 

(j)            Notices.  All notices, requests, demands, claims,
consents and other communications which are required or otherwise delivered
hereunder shall be in writing and shall be deemed to have been duly given if (i) personally
delivered or transmitted by electronic mail, (ii) sent by nationally recognized
overnight courier, (iii) mailed by registered or certified mail with
postage prepaid, return receipt requested, or (iv) transmitted by
facsimile (with a copy of such transmission concurrently transmitted by
registered or certified mail with postage prepaid, return receipt requested),
to the parties hereto at the following addresses (or at such other address for
a party as shall be specified by like notice):

 

(i)            if to the Company,  to:

 

HANK ACQUISITION COMPANY, LLC

c/o Morgan Stanley Capital Partners V Funding LP

1585 Broadway, Floor 39

New York, New York 10036

Attention:  Geoffrey Strong

Facsimile:  (212) 507-0690

and

Attention:  Gary Matthews

Facsimile:  (201) 633-4589

 

12

 

with a copy to:

 

Nixon Peabody LLP

437 Madison Avenue

New York, New York 10022

Attention:  Dominick P. DeChiara 

and Bradley C. Vaiana

Facsimile:  (212) 940-3111

 

(ii)           if to the Employee, to his
address  set forth on the signature
page hereto;

 

with a copy to:

 

Damon & Morey LLP

298 Main Street

Buffalo, New York 14202

Attention:  Christopher T. Greene, Esq.

Facsimile:  (716) 856-5521

 

or to such other address as the party to whom such notice or other communication is to be given
may have furnished to each other
party in writing in accordance herewith. 
Any such notice or communication shall be deemed to have been received (i) when
delivered, if personally  delivered or transmitted
by electronic mail, with receipt acknowledgment  by the recipient by return
electronic mail, (ii) when sent, if sent by facsimile on a business day
during normal business hours (or,
if not sent on a business day during
normal business hours, on the
next business day after the date sent by facsimile), (iii) on the next business day after dispatch, if sent by nationally recognized, overnight courier guaranteeing next business
day delivery, and (iv) on the fifth business day following the date
on which such communication is posted, if sent by mail.

 

(k)           Descriptive Headings.  The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a part of this
Agreement.

 

(l)            Construction.  Where
specific language is used to clarify by example a general statement contained
herein, such specific language shall not be deemed to modify, limit or restrict
in any manner the construction of the general statement to which it relates.  The language used in this Agreement shall be
deemed to be the language chosen by the parties to express their mutual intent,
and no rule of strict construction shall be applied against any party.

 

(m)          Right of Set Off.  In the event of a breach or alleged breach by
the Employee of any of the provisions of this Agreement, the Company is hereby
authorized at any time and from time to time, to the fullest extent permitted
by law, and after ten (10) days prior written notice to Employee, to
withhold any payments the Company is then obligated to make to the Employee
until such time as such breach or alleged breach has been finally adjudicated
by a court of competent jurisdiction.  If
the Company is the prevailing party in such adjudication, the Company is hereby
authorized, to the fullest

 

13

 

extent permitted by law, to set-off and apply
any and all amounts at any time held by the Company on behalf of the Employee
and all indebtedness at any time owing by the Company to the Employee against
any and all of the obligations of the Employee now or hereafter existing in
respect of such breach.

 

(n)           Nouns and Pronouns.  Whenever the context may require, any  pronouns
used herein shall include the corresponding masculine, feminine or
neuter forms, and the singular form of nouns and pronouns shall include the
plural and vice-versa.

 

[Signature Page Follows]

 

14

 

IN
WITNESS WHEREOF,
the parties hereto have executed this Employment Agreement as of the date first
written above.

 

	
   

  	
  HANK ACQUISITION COMPANY, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary Matthews

  
	
   

  	
   

  	
  Name: Gary S. Matthews

  
	
   

  	
   

  	
  Title: Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Frank Curci

  
	
   

  	
  Frank Curci

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

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