Document:

Exhibit 10.58(b)

 

SEPARATION
AGREEMENT, TRANSITION AGREEMENT AND

GENERAL
RELEASE

 

This Separation Agreement
and General Release (hereinafter “Agreement’) is by and between Allied Van
Lines, Inc., North American Van Lines, Inc., SIRVA, Inc., its
subsidiaries and their subsidiaries (hereinafter the “Company”) and Joan Ryan
(hereinafter “Employee”).  The effective
date of this Agreement shall be the first date on which all parties have
executed it and the seven day revocation period has expired (“Effective Date”).

 

WITNESSETH:

 

WHEREAS, Employee wishes to
resign her employment with the Company;

 

WHEREAS, Employee and the
Company wish to effectuate a final resolution of all matters relating to
Employee’s employment and the termination thereof.

 

NOW, THEREFORE, in
consideration of the mutual covenants and promises contained herein, Employee
and the Company agree as follows:

 

1.                                       Resignation as Senior Vice
President and Chief Financial Officer of SIRVA, Inc. 
Employee hereby agrees to resign her position as Senior Vice President
and Chief Financial Officer of SIRVA, Inc. and all other titles and
committee positions as of the Effective Date. 
On and after such resignation through June 30, 2006, Employee shall
have the job title “Financial Consultant,” and Employee’s employment shall
terminate effective June 30, 2006.

 

2.                                       Salary Continuation, Bonus
Eligibility, Severance and PTO.  The Company shall continue to pay Employee at
her current regular base salary (less applicable payroll withholding taxes)
through the Effective Date.  During the
period beginning on the day after the Effective Date through June 30, 2006
(the “Salary Continuation Period”), the Company shall pay Employee $375,000 in
bi-weekly installments (less applicable payroll withholding taxes). Employee
agrees that she will execute the General Release attached hereto as
Exhibit A at the end of her Salary Continuation Period and acknowledges
that her continued employment through June 30, 2006, and the other
promises contained herein, are adequate consideration for that General
Release.  As soon as practical after the
Effective Date, Employee will be paid her earned but unused PTO days at her
current regular base salary and any reimbursements for expenses per Company
policy.  Pursuant to the terms and
conditions of the Management Incentive Plan maintained by the Company
applicable to the year 2005, Employee acknowledges and agrees that she shall
not be eligible for any payment thereunder and that the consideration set forth
in this Agreement is in lieu of any payments she may otherwise be entitled to
thereunder.  Employee further
acknowledges that the salary continuation benefits and severance benefits
provided under this Agreement are in lieu of any severance benefits to which
she otherwise may be or become entitled.

 

3.                                       SIRVA Group Benefits Plan.  In
further consideration of her execution of this Agreement the Company will:  (i) through the Effective Date, continue
all of Employee’s benefits previously elected under the SIRVA Group Benefits
Plan; and (ii) during the Salary Continuation Period, continue Employee’s
benefits previously elected under the SIRVA Group Benefits Plan, excluding
Employee’s car allowance and paid time off. 
Employee’s COBRA

 

 

benefits continuation period
shall begin immediately after the end of the Salary Continuation Period.

 

4.                                       Option Awards.  All
options on Company stock awarded to Employee shall be governed by the current
terms of the applicable plans and award agreements, including the
SIRVA, Inc. Stock Incentive Plan and the SIRVA, Inc. Omnibus Stock
Incentive Plan, as appropriate.  Employee
acknowledges that she will not receive any additional stock option or other
equity-based awards during the Salary Continuation Period; provided that all
previously awarded options shall continue to vest according to the current
vesting schedule during the Salary Continuation Period.  Section 5.10 of the SIRVA, Inc.
Omnibus Stock Incentive Plan shall remain applicable.  Notwithstanding any other provision of those
plans and award agreements (and documents relating thereto), or of this
Agreement, all of Employee’s stock options that have or would have vested on or
before June 30, 2006 shall vest immediately upon termination of Employee’s
employment without Cause, as defined below, prior to June 30, 2006. 

 

5.                                       No Authority. 
Employee acknowledges that effective as of the Effective Date:
(i) she shall have no authority to bind the Company to any contracts or
commitments and she will not create any obligation for the Company or bind or
attempt to bind the Company in any manner whatsoever, (ii) she shall have
no supervisory or managerial responsibility or authority, and (iii) she
shall be involved in the activities of the Company only as may be requested by
a member of the Board of Directors, Brian Kelley or his designee as outlined
below in Paragraph 7.

 

6.                                       Duty to Cooperate. 
Employee agrees to cooperate fully, subject to reimbursement by the
Company of reasonable out-of-pocket costs and expenses with the Company and its
counsel with respect to any matter (including any litigation, investigation,
independent review or governmental proceeding), which relates to matters with
which Employee was involved during the term of her employment with the
Company.  Such cooperation shall include
appearing from time to time at the offices of the Company or the Company’s
counsel, auditors or other agents or consultants of the Company for conferences
and interviews and in general providing the officers of the Company and its
counsel, auditors or other agents or consultants of the Company with the full
benefit of Employee’s knowledge with respect to any such matter.  Employee agrees to render such cooperation in
a timely fashion and at such times as may be mutually agreeable to the parties.   If and to the extent that such time exceeds
20 hours after the Salary Continuation Period ends, Employee shall be
compensated for such time at the rate of $190.00 per hour.

 

7.                                       Responsibilities during
Salary Continuation Period, Death.  Employee will remain employed
during the Salary Continuation Period to provide such assistance and
information in matters of high-level special projects and financial oversight,
and transition, as Brian Kelley or his designee may reasonably request.  Employee agrees to be available to take on
such projects as needed by the Company. 
Employee will provide such assistance and information and perform such
projects in a cooperative and prompt manner and use her reasonable best efforts to assist in these endeavors,
but her total hours worked for Company during the Salary Continuation Period shall not exceed 500 in the
aggregate.  The expectation is that more
assistance will be requested during an initial transition period than times
thereafter.  Employee acknowledges that she will remain
subject to all Company policies during the Salary

 

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Continuation Period and, in
particular, those governing the conduct of employees.  The Company reserves the right to terminate
Employee’s employment for Cause (as defined below) prior to June 30, 2006,
in which case the Company’s obligation to provide any further salary
continuation or severance pay and benefits shall cease.  In accordance with the procedures hereinafter
set forth, discharge for Cause shall be communicated by a Notice of Termination
to Employee.  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) sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Employee’s employment under the
provision so indicated and (iii) specifies the termination date, which may
be as early as the date of the giving of such notice.  No purported termination of Employee’s
employment for Cause shall be effective without a Notice of Termination.   “Cause”
shall mean (i) the continued failure of the Employee substantially to
perform the duties of his or her employment for the Company or any Subsidiary
(other than any such failure due to the Employee’s physical or mental illness)
after a demand for substantial performance has been delivered in writing to the
Employee by the executive to whom the Employee reports or by the Board, which
demand identifies the manner in which such executive or the Board, as the case
may be, believes that the Employee has not substantially performed such duties,
(ii) the Employee has engaged in or is engaging in serious misconduct that
has caused or is reasonably expected to result in material injury to the
Company or any of its Subsidiaries or Affiliates, or (iii) the Employee’s
conviction of, or entering a plea of guilty or nolo contendere to, a crime that
constitutes a felony. Section 5.10 of the SIRVA, Inc. Omnibus Stock
Incentive Plan shall remain applicable. 
Additionally, Employee acknowledges that if she is terminated for Cause
all unvested and unexercised vested options shall be immediately forfeited and
canceled as of the date of such termination. 

 

8.                                       Return of the Company’s
Property.  All notes, reports, sketches, plans, books,
keys, credit cards, unpublished memoranda or other documents or property which
were created, developed, generated or held or controlled by Employee and which
concern or are related to the Company’s business, are the property of the
Company and will be promptly returned to the Company by the Effective Date;
provided, however, Employee may retain and use such materials as needed solely
to fulfill her responsibilities as described in paragraph 7 above, with such
retained materials to be returned to the Company no later than June 30,
2006.

 

9.                                       Nondisclosure. 
Employee shall not disclose or cause to be disclosed the terms of this
Agreement or the negotiations leading to it to any person (other than
Employee’s spouse and tax and legal advisors), without the written consent of
the Company.  Notwithstanding the
foregoing, Employee may disclose the terms of this Agreement if the Company
discloses the terms or contents of this Agreement (and if the Company discloses
the terms or contents of this Agreement, it shall provide Employee with prior
written notice); and Employee may disclose the terms of this Agreement pursuant
to the order of a court or governmental agency of competent jurisdiction or as
otherwise required by law, or for purposes of securing enforcement of the terms
and conditions of this Agreement.

 

10.                                 No Adverse Comments. 
Except pursuant to Paragraph 6, Employee shall at no time make, issue,
release or authorize any written or oral statements, derogatory or defamatory
in nature, about the Company or its current or former directors, officers or
employees.  No member of the
Company’s Board or Senior Management Team (defined as the Chief Executive
Officer

 

3

 

(“CEO”), his or her direct reports, and the Human
Resources staff) shall at any time make,
issue, release or authorize any written or oral statements, derogatory or
defamatory in nature, about the Employee. 
Employee and the Company agree that any press releases, internal
communications and other announcements issued regarding Employee’s change in
position with the Company and/or Employee’s separation from the Company shall
be in the form attached to this Agreement as Exhibit B, or otherwise as is
mutually agreeable. The Company agrees that any securities filings shall be
consistent with the statements contained in Exhibit B.  Employee agrees to direct all inquiries by
potential future employers to either the Company’s Senior Vice President, Human
Resources or the CEO, who, if contacted, will only (a) provide Employee’s
dates of employment, salary and job title; and (b) state that Employee and
the Company parted amicably and on terms mutually acceptable to Employee and
the Company.  If the Company is asked for
additional information, the response shall be that the Company policy prohibits
the provision of additional information orally, and that a letter has been
provided to Employee.  The Company
further will provide Employee a signed reference letter on or about the Effective
Date on Company letterhead and signed by the current CEO, in the form attached
to this Agreement as Exhibit C. 
Notwithstanding any other provision of this Agreement, no party is
prohibited from testifying truthfully under oath pursuant to any lawful court
order or subpoena or otherwise responding to or providing disclosures required
by law or as requested by any government agency.

 

11.                                 Release, Discharge, Waiver
and Covenant Not to Sue.  For and in consideration of the mutual
covenants provided in this Agreement, Employee on behalf of herself and her
heirs, executors, administrators, and assigns:

 

(a)                                  does hereby fully release and discharge the
Company and its current or former officers, directors, employees, attorneys,
agents, subsidiaries, affiliates, related organizations, successors and assigns
from, and

 

(b)                                 does hereby fully waive any obligations of
the Company, such persons or entities for

 

any or all sums of money,
accounts, actions, causes of action, claims and demands based upon or arising
by reason of any damage, loss, injury or entitlement regardless of source or
nature, whether known or unknown or contingent or absolute, which heretofore
has been or which hereafter may be suffered or sustained, directly or
indirectly, by Employee or her heirs, executors, administrators, or assigns in
consequence of, arising out of, or in any way related to Employee’s employment,
or termination of employment, with the Company or any of its affiliates,
including her resignation as Senior Vice President and Chief Financial Officer
of SIRVA, Inc. and her agreement to resign from employment with the
Company on June 30, 2006.  The
foregoing release and discharge and waiver includes, but is not limited to, all
claims and any obligations or causes of action arising from such claims, under
common law including wrongful or retaliatory discharge, breach of contract and
any action arising in tort including libel, slander, defamation or intentional
infliction of emotional distress, and claims under any federal, state or local
statute including Title VII of the Civil Rights Act of 1964, the Civil Rights
Acts of 1866 and 1871 (42 U.S.C. § 1981), the National Labor Relations
Act, the Age Discrimination in Employment Act (the “ADEA”), the Employee
Retirement Income Security Act, the Americans with Disabilities Act of 1990,
the Rehabilitation Act of 1973, the Illinois Human Rights Act, or

 

4

 

the laws of any state,
municipality or other political entity, and/or any claims under any express or
implied contract which Employee, her successors or assigns or representatives
may claim existed with the Company.  This
release, discharge and waiver expressly includes all claims, and any
obligations or causes of action arising from such claims, that could have been
raised in state or federal court or with a state, federal or municipal agency
or entity.  This release, discharge and
waiver applies to any matters arising from events, acts or omissions occurring
on or prior to the date Employee signs this Agreement.

 

Excluded from this release
are any claims which cannot be waived by law, including but not limited to the
right to file a charge with or participate in an investigation conducted by
certain government agencies, the right to enforce the terms of this Agreement,
future claims and claims for vested benefits under the Company’s pension and
401(k) plans.  Employee does, however,
waive Employee’s right to any monetary recovery should any agency (such as the
Equal Employment Opportunity Commission) pursue any claims on Employee’s
behalf.  Employee represents and warrants
that Employee has not filed any complaint, charge, or lawsuit against the
Company with any government agency or any court.

 

In addition, Employee agrees
never to sue the Company in any forum for any claim covered by the above waiver
and release language, except that Employee may bring a claim under the ADEA to
challenge this Agreement.  If Employee
violates this Agreement by suing the Company, other than under the ADEA,
Employee shall be liable to the Company for its reasonable attorneys’ fees and
other litigation costs incurred in defending against such a suit.

 

The
Company hereby releases and forever discharges Employee from all debts,
obligations, promises, covenants, agreements, contracts, endorsements, bonds,
controversies, suits, actions, causes of action, judgments, damages, expenses,
claims or demands, in law or in equity, which it ever had, now has, regarding
any matter arising on or before the date of the execution of this Agreement, except
that this release does not prohibit shareholders from bringing direct or
derivative claims against Employee, or Company actions based on facts that are
not currently known by the Company’s Board or Senior Management Team and
involve fraud, theft or  breach of
fiduciary duty by Employee or pursuant to the Federal Securities Laws
including, but not limited to, The Sarbanes-Oxley Act.  The Company represents and agrees that it has
not filed any lawsuits against Employee or filed or caused to be filed any
charges or complaints against Employee with any municipal, state or federal
agency.

 

12.                                 Indemnification.  The
Company agrees that it shall indemnify, defend and hold harmless Employee, to
the full extent allowed by the Company’s By-Laws
as in effect as of December 31, 2004 (including advancement of attorneys’
fees, costs, and other expenses), for Employee’s actions taken on behalf of the
Company and/or in executing Employee’s duties in the course of her employment
and other positions held with the Company. 
The Company further agrees to maintain Directors and Officers insurance
at a reasonable and customary level, including Employee as an insured party for
claims relating to actions taken during Employee’s employment with the Company
as Senior Vice President and Chief Financial Officer.

 

13.                                 Exclusive Payments.  The
payments outlined in this Agreement to be made to Employee will be considered
as fulfilling all compensation obligations to Employee of the Company,
including but not limited to salary, vacation, benefits, bonuses and any other

 

5

 

payments or benefits from
the Company, except that nothing in this Agreement shall be construed to waive
any rights to vested pension or 401(k) benefits.

 

14.                                 Severability.  The
terms and provisions of this Agreement shall be deemed separable, so that if
any term or provision is deemed to be invalid or unenforceable, such term or
provision shall be deemed deleted or modified so as to be valid and enforceable
to the full extent permitted by applicable law.

 

15.                                 Entire Agreement.  The
terms of this Agreement constitute the entire agreement between Employee and
the Company, and supersede any prior agreement executed between Employee and
the Company including, but not limited to the Agreement dated December 6,
2002, and any prior agreement executed between Employee and Company to the
extent the prior agreement is inconsistent with this Agreement.  Notwithstanding the foregoing, the provisions
of the SIRVA Confidentiality, Proprietary Rights and Non-Solicitation
Agreement, executed by Employee on February 16, 2003, shall remain in full
force and effect, except that Section 4.1 of that agreement (at-will
employment) is modified by this Agreement. Additionally, Section 2 of that
agreement is modified to prohibit Employee, during the twelve (12) month period
after the Salary Continuation Period, from working for on behalf of any Agent
of Allied Van Lines, North American Van Lines or Global Van Lines or on behalf
of any Association, Organization or groups of Agents representing Allied Van
Lines, North American Van Lines or Global Van Lines including, but not limited
to, Allied Agents Association and North American Agents Association. The
Company represents and warrants that the undersigned has full authority to bind
the Company to all provisions of this Agreement.

 

16.                               Governing Law, Forum and
Enforcement.  This Agreement shall be construed,
interpreted and enforced in accordance with the internal laws of the State of
Illinois.  The parties agree that the
state and federal courts located in the State of Illinois shall have exclusive
jurisdiction in any action, suit or proceeding based on or arising out of this
Agreement, and submit to the personal jurisdiction of such courts, consent to
the service of process in connection with any action, suit or proceeding,
against Employee, and waive any objections to jurisdiction, venue or service of
process.  The parties further agree that
in any such action, suit or proceeding, the prevailing parts shall be awarded
her  or its attorneys’ fees and costs.

 

17.                                 Successors and Assigns.  This
Agreement shall inure to the benefit of and may be enforced by the parties to
this Agreement and shall be binding upon Employee, Employee’s executors, administrators,
legatees, or any other successor in interest and upon the Company, its
successors and any assignee or transferee of or successor to all or
substantially all of the business or assets of the Company, and may not be
amended, in whole or in part, except in writing signed by a duly authorized
officer of the Company and Employee.

 

18.                                 Compliance with Laws. 
Employee has represented and hereby affirms that Employee has disclosed
to Company all information in Employee’s possession or within Employee’s
knowledge concerning any conduct involving Company, or any of its affiliates,
employees, officers, directors or agents that Employee has any reason to
believe involves any false claims to the United States or is or may violate
Company policy or any law.

 

6

 

19.                                 Knowing and Voluntary. 
Employee acknowledges and recites that:

 

(a)                                  Employee enters into this Agreement knowingly
and voluntarily;

 

(b)                                 Employee has read and understands this
Agreement in its entirety;

 

(c)                                  Employee has been advised and directed orally
and in writing (and this Paragraph c constitutes such written direction) to
seek legal counsel and any other advice she wishes with respect to the terms of
this Agreement before executing it and Employee acknowledges that she has had
the advice of counsel in considering its terms;

 

(d)                                 Employee’s execution of this Agreement has
not been forced by any employee or agent of the Company, and Employee has had
an opportunity to negotiate about the Agreement’s terms;

 

(e)                                  Employee has been offered 21 calendar days
after receipt of this Agreement to consider its terms before executing it;

 

(f)                                    That the payments and benefits listed in
paragraphs 1, 2, 3 and 4 constitute additional consideration to which Employee is
entitled by virtue of this Agreement only.

 

20.                                 Revocation. 
Employee shall have seven days from the date of her signature below  to revoke this Agreement by providing written
notice of the revocation to the Company’s Senior Vice President, Human Resources,
Todd Schorr, in which event this Agreement shall be unenforceable and null and
void.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement on the date indicated
above.

 

	
  Joan Ryan

  	
  SIRVA, Inc.

  
	
   

  	
   

  
	
        /s/ Joan Ryan

  	
   

  	
  By:

  	
  /s/ John Dupuy

  	
   

  
	
  Dated:

  	
       January 21, 2005

  	
   

  	
  Its:

  	
   Senior Vice President, Specialized

  	
   

  
	
   

  	
  Transportation and Corporate Development

  	
   

  
	
   

  	
  Dated:

  	
       January 21, 2005

  	
   

  
									

 

7Exhibit 10.65

 

CONTRACT OF EMPLOYMENT

 

The Agreement
is made on 18th February 2005 between SIRVA UK Limited, whose
registered office is at Heritage House, 345 Southbury Road, Enfield,
Middlesex EN1 1UP (“the Company”) and Kevin Pickford (“the Employee”) of [address omitted].

 

INTERPRETATION

 

In the
Agreement the following words shall mean:

 

	
  “the Company”

  	
   

  	
  SIRVA UK
  Limited

  
	
   

  	
   

  	
   

  
	
  “Chief
  Executive”

  	
   

  	
  The
  President & CEO of SIRVA Inc or any other person to whom he may,
  from time to time, delegate the exercise of his powers

  
	
   

  	
   

  	
   

  
	
  “the
  Group”

  	
   

  	
  (i) 
  SIRVA Inc;

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (ii) 
  any SIRVA Inc subsidiary (including without limitation, the Company and any
  of the Company’s subsidiaries);

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iii) any
  company which is an associate of SIRVA Inc or the Company

  

 

For the purposes
of the above definitions the word “subsidiary” shall have the same meaning
given by section 736 of the United Kingdom Companies Act 1985, and “associate”
shall have the same meaning given by section 435 of the United Kingdom
Insolvency Act 1986.

 

	
  “Termination
  Date”

  	
   

  	
  the
  date on which the Employee’s employment under the Agreement terminates

  

 

1.                COMMENCEMENT OF
EMPLOYMENT

 

1.1              The Employee’s
employment with previous employers in the Group counts as part of the Employee’s
period of continuous employment with the Company.  Accordingly, the Employee’s period of
continuous employment commenced on 27th of September, 1978.

 

1.2              The Agreement supersedes
any previous agreement (whether written, oral or implied) between the Group and
the Employee relating to his employment. 
It is effective from 1 February 2005.

 

 

1.3              There are no agreements
or arrangements (whether oral, written or implied) between the Group and the
Employees relating to the employment of the Employee by the Company other than
those expressly set out in the Agreement and the Employee agrees that he has
not entered into the Agreement in reliance on any representation not expressly
set out herein.

 

2.                JOB TITLE AND
RESPONSIBILITIES

 

2.1              The Employee’s job title
shall be President SIRVA Relocation Services - Europe and the Employee shall
perform such duties and exercise such powers as are consistent with his
appointment and as are from time to time given to him by the Chief
Executive.  The Employee shall comply
with all reasonable directions of the Chief Executive which may from time to
time vary the duties and type and nature of work to be carried out by the
Employee provided that the Employee’s remuneration shall not be altered by such
a variation.

 

2.2              At all times throughout
the course of the Employee’s employment with the Company:

 

2.2.1           the Employee shall during
all his hours of work faithfully and diligently, devote (unless prevented by
ill health) the whole of his time, attention, efforts and ability to his duties
and the business of the Group and he shall at all times endeavour to promote
the business and interests of the Group;

 

2.2.2           the Employee shall not
directly or indirectly enter into or be concerned with or interested in any
trade, business or occupation, nor shall he hold any Directorship or office,
save for those of the Group;

 

2.2.3           clause 2.2.2 shall not
apply to any trade, business and occupation. 
Directorship or Office disclosed in Schedule 1 to the Agreement or
which shall be disclosed subsequently and in respect of which the Chief
Executive shall have given his consent in writing.  Nor shall the clause prevent the Employee
from being the holder or beneficial owner of any class of securities in any
company listed and dealt with in a recognised stock exchange or any other
public securities where the Employee neither holds nor is beneficially
interested in more than a total of 5% of any single class of securities.

 

2.3              After notice of
termination has been given by either party pursuant to clause 14.1 or if the
Employee seeks or indicates an intention to terminate his employment without
notice there shall be no obligation on the Company to provide any work for the 

 

 

Employee and
the Company’s failure to do so for any reason shall not constitute a breach of
the Agreement.  During any period when
work is not provided to the Employee:

 

2.3.1           the Company may at its
absolute discretion exclude the Employee from the premises of the Company
and/or require him to carry out specified duties for the Company other than
those referred to in clause 2.1 or carry out no duties whatsoever and/or
instruct him not to communicate with suppliers, customers, employees, agents or
representatives of the Company; and

 

2.3.2           the Employee will have the
right to receive the salary and other benefits provided for under the Agreement

 

3.                PLACE OR PLACES OF
EMPLOYMENT

 

3.1              The Employee’s principal
place of work shall be at Enfield but the Company shall be entitled to require
the Employee:

 

(i)               within reason, to
relocate his place of work to any other office of the Company within the UK;

 

(ii)              to accept temporary
assignments of reasonable duration away from the Employee’s principal place of
work (whether within the UK or elsewhere in the world) for such duration as may
be necessitated by the business requirements of the Group.

 

3.2              The Agreement governs
the Employee’s employment by the Company whilst he is based in the UK.  It is anticipated that the Employee will be
based in the UK for up to three years but the Company will review this from
time to time depending on business requirements.  The Employee acknowledges that the salary and
benefits payable to him pursuant to the Agreement will cease to apply if he
agrees to relocate his place of work to any other office of the Group outside
the UK.  In these circumstances, the
Company will agree on an appropriate relocation package with the Employee.

 

4.                RELOCATION COSTS
AND OTHER ALLOWANCES

 

4.1              The Company will provide
the Employee with the following assistance under the Relocation Policy of the
Group currently in force in connection with his relocation from Melbourne to
the UK:

 

 

i.      relocation services ie
destination services provided by SIRVA Relocation in the UK including the
provision of appropriate air travel for the Employee and his family (including
the pet dog) and payment for the cost of quarantine in the UK for the pet dog;

 

ii.     the shipping of personal goods to
the UK and storage of personal goods in Australia and the fees for these
services should be invoiced to the Company; and

 

iii.    a maximum payment of 12% of the
Employee’s salary to cover relevant items. 
This will be tax free up to £8000 (or such other sum as may be permitted
by law from time to time) and will only be paid if fully supported by receipts
and approved by the Senior Vice President or Vice President of Human
Resources.  Relevant items for this
purpose are the provision of goods, services and facilities eg carpets,
curtains and soft furnishings which are not suitable for the new home.

 

4.2              The Company shall pay
the Employee a housing allowance of £4,000 per calendar month less any net
rental income that the Employee receives from the lease of his property in
Melbourne.  The Employee agrees to inform
the Company of the net monthly rent that he receives in relation to his
property in Melbourne and will advise the Company immediately of any increase
in this net monthly rental income.  The
Employee shall provide such documentation in relation to his monthly rental
income as the Company may reasonably request from time to time.  This housing allowance will be subject to
deductions for income tax and employee national insurance contributions and
will not form part of the Employee’s income for pension or bonus purposes.

 

4.3              In each calendar year for which the Agreement continues, the Company shall pay for
up to four return air tickets from London to Melbourne to enable the Employee
to take home leave.  These tickets will
be purchased in line with SIRVA travel policy in force at the time of travel.

 

5.                HOURS

 

5.1              The Company’s normal
office hours are from 09:00 -  17:30
Monday to Friday but the Employee is required to devote such additional time to
the business as may be necessary for the proper performance of his duties or as
the Company may reasonably require.

 

 

5.2              The Employee agrees that
the limit on average weekly working time of 48 hours per week as set out
in the Work Time Regulation 1998 shall not apply to his employment with the
Company.

 

6.                PAY &
OTHER BENEFITS

 

6.1              The Employee’s salary
commencing on 1 February 2005 shall be £170,000 per annum inclusive of any
director’s fee.

 

6.2              Salary shall accrue from
day to day an be payable in 13 equal instalments in arrears by direct
transfer to the Employee’s bank or building society account.

 

6.3              The Employee’s salary
will be reviewed annually by the Chief Executive in his absolute discretion on
or about January in each calendar year provided always that there shall be
no obligation on the Company to award a salary increase.

 

6.4              The Employee will be
eligible to benefit from the Company’s discretionary Management Incentive Plan
to a maximum of 75% of the Employee’s annual salary.  The terms of such programme shall be
determined by the Company from time to time. 
Participation in or payments under any such programme for any year will
not confer on the Employee any right to participate or to be paid in the
following year or any subsequent years.

 

6.5              The Company will
continue to contribute to the Employee’s superannuation benefit in Australia
(SGC) on the same terms and conditions as those which applied prior to the
commencement of the Agreement.

 

6.6              The Employee shall be
entitled to a company car in accordance with SIRVA Europe car policy with a
benchmark lease value of £1,000 per month.

 

6.7              The Employee shall be
entitled to medical cover through his existing supplier in Australia and
through an appropriate supplier in the UK. 
The Employee shall also be entitled to dental insurance cover in the UK.

 

6.8              The Employee shall be
entitled to join Tier 3 of the SIRVA UK Pension Scheme subject to the trust
deed and rules of the Scheme from time to time.

 

7.                EXPENSES

 

7.1              The Employee shall be
reimbursed such reasonable expenses as he may incur in the performance of the
Agreement subject to such rules as may from time to time be notified by
the Company and the production of such supporting documentation as the 

 

 

Company may
reasonably require.  Unless otherwise
impractical, where a company credit card has been issued to the Employee, all
expenses shall be paid for using that card.

 

8.                HOLIDAY
ENTITLEMENT AND LONG SERVICE LEAVE

 

8.1              The Company’s holiday
year runs from 1 January to 31 December.  The Employee is entitled, in addition to the
customary public holidays, to take 25 working days as paid holiday in each
holiday year to be taken at such times and periods as shall be agreed in
advance with the Chief Executive. 
Entitlement to holidays will accrue at two days per complete calendar
month during the year of joining.

 

8.2              The Employee is entitled
to take Long Service Leave on the same terms and conditions as those which
applied prior to the commencement of the Agreement.

 

8.3              If the Employee’s
employment terminates during any holiday year, entitlement to holiday during
that year will be two days for each complete calendar month worked until
termination which the Company may in its absolute discretion pay in lieu
together with any final salary due. 
Where at termination holiday in excess of entitlement has been taken a
deduction for that excess will be made from final salary and the Employee
consents to such deduction being made.

 

8.4              Unless previously agreed
in writing, holiday entitlement unused at the end of one holiday year cannot be
carried over into the next year.

 

8.5              Otherwise than as
provided in clause 8.3 the Employee will not be paid in lieu of holiday entitlement
not taken unless holiday is forfeit at the request of the Company.

 

8.6              Where the Employee is
under notice to terminate his employment, the Company may require that any
outstanding holiday entitlement be taken during that notice period.

 

8.7              Otherwise in
clause 8.6 above, holiday may not be taken during a period of notice to
terminate employment otherwise than with the consent of the Chief Executive.

 

9.                ILL HEALTH AND
OTHER ABSENCE

 

9.1              Without prejudice to
clause 14.3 (viii), if the Employee is absent from work as a result of ill
health or injury for more than three consecutive working days he shall produce
to the Company evidence of such ill health or injury and provided that the
Company is satisfied by such evidence he shall be entitled to his salary as
follows:

 

 

(i)               during the first
182 calendar days in aggregate of such absence in any 12 month period
to his normal rate of salary;

 

(ii)              so long thereafter as
such absence lasts, to such salary (if any), the Company shall in its absolute
discretion decide.

 

The Company may deduct from any
remuneration due to the Employee a sum equal to any social security benefits
claimable by the Employee for ill health or injury.  In the event that any statutory sick pay is
payable to the Employee by the Company for any period ob absence through
sickness or injury pursuant to the provisions of the Social Security and
Housing Benefits Act 1982, the remuneration for such period of absence payable
by the Company hereunder shall include the amount of such Statutory Sick
Pay.  Monday to Friday inclusive in each
week shall be Qualifying Days for the purposes of the said Act.

 

9.2              Except as specifically
provided, the Employee shall not be entitled to any remuneration in respect of
any period of absence from work unless the Company otherwise agrees.

 

9.3              The Employee may be
required to submit to an examination by a doctor or other medical specialist
who will provide a report and prognosis to the Company where:

 

(i)               there has been or is
likely to be a prolonged period of absence due to illness;

 

(ii)              in the opinion of the
Chief Executive the Employee in his actions or performance has given grounds to
reasonably believe that he is suffering from an illness, which may impair him
in his ability to perform his duties and obligations under the Agreement;

 

(iii)             such an examination is a
condition for the placing on risk or continuance of any insurance provided for
the Employee by the Company.

 

Where a medical report is provided to the
Company the Employee shall be entitled to request and receive a copy of that
report.  The Company shall keep
confidential the content of any report which the Company shall not, in any
event, allow to be viewed otherwise than by an employee of an equivalent or senior
level directly involved and concerned in the particular matter, and any
professional advisers engaged in advising on that matter, in respect of which
the report has been commissioned.

 

9.4              Where the Employee’s
absence results from injury in circumstances where the Employee has the right to
recover against a third party damages for loss and/or compensation for that
injury clause 9.1 shall not apply . 
However, the Company may 

 

 

in its
absolute discretion and for such period as it deems appropriate advance by way
of interest free loan to the Employee a sum as represents his net salary on
condition that any advance so made is included in any claim made by the
Employee against the third party and is repaid to the Company to the extent of
any recovery.

 

10.              CONFIDENTIAL INFORMATION

 

10.1            The Employee shall not
(except in the proper course of his duties hereunder) either during his
employment or after it terminates make use of, or divulge to any person any
confidential information concerning the business or finances of the Group.  Confidential information includes, but is not
limited to the following:

 

(i)               trade secrets,
copyright material, intellectual and other similar property rights in products,
designs, developments or compiled information created by the Group, its
employees, consultants or others on its behalf;

 

(ii)              information identifying
customers for the products of services of the Group and prospective customers
to whom the Group has made a presentation or provided a quotation or
consultancy in relations to its products or services;

 

(iii)             market research collated
or commissioned by the Group for the purpose of identifying markets and/or
demand for the products of services of the Group or for new business areas for
the Group to enter into;

 

(iv)             information relating to
the identity of any company or business considered for acquisition by the Group
and information compiled for the purposes of that consideration;

 

(v)              information relating to
the financial status of the Company or any company within the Group and to any
proposal to close or dispose of any company within the Group;

 

(vi)             information relating to
the marketing of any product or service of the Group, and any pricing or
similar arrangement in force between the Group and any of its suppliers or
customers;

 

(vii)            information relating to
the Group’s internal policies, organisation, management, future plans and
staffing arrangements.

 

10.2            Clause 10.1 above
shall not apply to the extent the Employee by law shall be required to disclose
confidential information of the Group provided always that before disclosure is
made the Employee shall have informed the Group of the 

 

 

requirement to
make disclosure so as to afford them the opportunity to make legal challenge
either on their own behalf or on behalf of the Employee that disclosure be
made.

 

10.3            Whenever requested to do
so by the Company, and in any event at the Termination Date, the Employee shall
return to the Company any document or copy document containing confidential
information in whatever form that confidential information may be held
including, and for the avoidance of doubt, any document held on a computer disc
or otherwise recorded by electronic means and whether or not the document but
for it holding confidential information would have been the personal property
of the Employee.

 

10.4            No copies of any document
holding confidential information shall be retained by the Employee after he has
been requested to return the document or after the Termination Date.

 

10.5            The restrictions in
clause 10.1 shall cease to apply to information or knowledge which may
(otherwise than where occasioned by the Employee) become available to the
public generally.

 

10.6            Where the Employee is
under notice to terminate his employment he shall not, otherwise than with the
consent of the Chief Executive in writing, destroy or otherwise dispose of or
part with possession of any documentation containing confidential information
of the Group.

 

10.7            These obligations imposed
by clause 10 are in addition to and not in substitution of any obligations
imposed upon the Employee by law.

 

11.              COMPANY PROPERTY

 

On the
termination of his employment for any reason or whenever requested by the
Company, the Employee shall deliver up to the Company originals and copies of
all documents, accounts, records, papers and all other property in his
possession or control which relate in any way to the property business or
affairs of the Company or the Group and he shall at the same time deliver up to
the Company all other property of the Company or the Group in his possession or
under his control.

 

12.              RETIREMENT

 

The Employee’s
employment shall terminate in any event on the date on which he reaches the age
of 65.

 

 

13.              DEDUCTIONS FROM MONEY DUE TO THE EMPLOYEE

 

If at any time
money is owed and payable by the Employee to the Group whether under the
provisions of the Agreement or otherwise the Employee agrees that the Company
may deduct what is owed from any payment due (including salary or other
emoluments) to the Employee from the Company under the Agreement.

 

14.              TERMINATION

 

14.1            The employment of the
Employee may be terminated:

 

(i)               by the Employee on
giving the Company six months written notice; or

 

(ii)              by the Company on giving
the Employee 12 months written notice.

 

14.2            The Company has the
absolute discretion to terminate the Agreement with immediate effect by giving
notice of such termination and by paying to the Employee, in lieu of salary and
other benefits pursuant to the Agreement, an amount equal to the minimum salary
which the Employee would have earned from then until the first date upon which
his employment could, apart from this clause 14.2 have been lawfully
terminated, together with a further sum equivalent to the cost to the Company
of providing the benefits which the Employee would have received in such period.  Any such payment to the Employee will be
subject to tax and other statutory deductions required from time to time.

 

14.3            The Employee’s employment
may be terminated by the Company forthwith if:

 

(i)               he makes any
arrangements or composition with his creditors generally or there are grounds
under section 267 of the United Kingdom Insolvency Act 1986 for the
presentation of a creditor’s petition for a bankruptcy order to be made against
him or an interim receiver of his property is appointed under section 286
of that Act;

 

(ii)              he is convicted of a
criminal offence as a result of which he is sentenced to a term of
imprisonment;

 

(iii)             he commits any serious
breach of his duties or obligations under the Agreement;

 

(iv)             having committed any
breach of his obligations he fails to rectify such breach (if reasonably
capable of rectification) or commits a further or continuing breach after
warning by the Chief Executive;

 

 

(v)              without good cause and
in any material respect his conduct is in the reasonable opinion of the Chief
Executive prejudicial to the interests of the Group.  In reaching any opinion convictions of a
criminal offence not covered by clause 14.3.2 or any breach of any
regulatory or business codes by the Employee may also be taken into account;

 

(vi)             being a director or
officer of any company of any company in the Group he resigns his directorship
or office without reasonable justification or becomes prohibited by law from
being a director or officer of a company;

 

(vii)            he becomes of unsound mind
or becomes a patient under the Mental Health Act 1983;

 

(viii)           by reasons of ill health or
incapacity he is prevented from performing his duties for periods, which have
exceeded in aggregate 182 calendar days in any 12 month period.

 

14.4            At the Termination Date
the Employee agrees that he shall resign (without prejudice to any right he may
have to claim compensation) from any directorship or other office of any
company with the Group to which he may be appointed.  The Employee further agrees that such company
shall make returns and/or file such documents with the Registrar of Companies
as shall give effect to that resignation. 
The Employee irrevocably authorises the Company to appoint any person in
his name and on his behalf to sign any documents or do any things necessary to
give effect to his obligations under this clause 14.5.

 

14.5            If the Employee’s
employment shall be terminated by reason only of the liquidation of the Company
for the purpose of amalgamation or reconstruction or the transfer of the business
of the Company to any other company within the Group and the Employee shall be
offered employment with any concern or undertaking resulting from such
amalgamation or reconstruction on terms no less favourable than the terms of
the Agreement the Employee shall have no claim against the Company in respect
of the termination of his employment hereunder.

 

15.              RESTRICTIONS

 

15.1            The Employee shall not at
any time during a period of six months after the Termination Date canvass or
solicit the custom of or deal with any customer in relation to the goods or
services which are provided at the Termination Date by the Company or by any
company in the Group for which the Employee has performed 

 

 

substantial
executive services during the period of 12 months prior to the Termination
Date.

 

15.2            For the purposes of
clause 15.1 “customer” means any person from or company or organisation
who or which at any time during the period of 12 months preceding the
Termination Date was:

 

(i)               negotiating with the
Company or any company in the Group for the sale or supply of goods or
services;

 

(ii)              a client or customer of
the Company or of any company in the Group or in the Group for the sale or
supply of goods or services;

 

(iii)             in the habit of dealing
with the Company or with any company in the Group for the sale or supply of
goods of services

 

and with whom
the Employee had direct contract and material dealing during the 12 months
immediately preceding the Termination Date.

 

15.3            The Employee shall be
bound by the following restrictions in respect of any person employed by the
Group in an executive, managerial, technical or sales capacity who is an
employee of the Group at the Termination Date and with whom the Employee has
had direct contact or dealing in the 12 months prior to the Termination
Date (“Protected Employee”):

 

(i)               the Employee shall not
(whether directly or indirectly) at any time during the period of 6 months
after the Termination Date in connection with any business in or proposing to
be in competition with the Company or with any company in the Group for which
the Employee has performed substantial executive services during the period of
12 months prior to the Termination Date employ or offer to a Protected
Employee any alternative employment or attempt in any way to persuade a
Protected Employee to enter into any alternative employment or to leave the
employment of the Company or the Group;

 

(ii)              the Employee shall
during a period of 6 months after the Termination Date use his best endeavours
to prevent any person from or Company with whom he may be engaged or connected
and which is involved in or proposes to be involved in any business which is in
competition with the Company or with any company in the Group for which the
Employee has performed substantial executive services during the period of
12 months prior to the 

 

 

Termination Date from employing or offering
to a Protected Employee any alternative employment or from attempting in any
way to persuade a Protected Employee to enter into any alternative employment
or to leave the employment of the Company or the Group.

 

15.4            Without the consent in
writing of the Chief Executive the Employee shall not at any time during the
continuance of the Agreement or within a period of six months after the
Termination Date:

 

(i)               be involved in, allow
his name to be associated with, or provide consultancy or assistance to, the
mounting of any take over or similar bid for the Company; and

 

(ii)              identify for acquisition
to any third party or become involved in any offer to acquire or for the
management buy-out of any company in the Group or any business activity of the
Group.

 

15.5            The Employee shall not at
any time after the Termination Date represent himself or cause or permit
himself to be represented as being in any way connected with the Group.

 

15.6            The restrictions in
clause 15 shall cover all actions by the Employee in whatever capacity and
whether directly or indirectly through any third party, agent, company,
partnership, employee, employer, associate (within the meaning of section 435
of the United Kingdom Insolvency Act 1986) or trust which if done by him
personally would breach the provisions of the clause.

 

15.7            Whilst the restrictions in
this clause 15 are regarded by the parties as fair and reasonable, it is
hereby declared that each of the restrictions in this clause 15 is
intended to be separate and severable. 
If any restriction is held by to be unreasonably wide but would be valid
if part of the wording were deleted, such restriction will apply with so much
of the wording deleted as may be necessary to make it valid.

 

16.              GRIEVANCES AND DISCIPLINARY MATTERS

 

16.1            The Company has a
disciplinary procedure, which is available from the Group Human Resources
Directorate.  The Employee agrees that he
will comply with SIRVA’s Code of Conduct as amended from time to time.

 

16.2            The Employee shall bring
any grievances or any appeal against a disciplinary decision in writing to the
Chief Executive.  The decision of the
Chief Executive shall be final.

 

 

16.3            If there shall be
reasonable grounds to believe that the Employee has been guilty of serious
misconduct the Company may suspend him from his duties and exclude the Employee
from attendance at any premises of the Group until such time as an
investigation and/or any disciplinary hearing which may result can be
concluded.  During any period of
suspension the Employee shall be entitled to receive his normal salary and
benefits.

 

 

	
  SIGNED
  by:

  	
   

  	
  /s/
  TODD W. SCHORR

  
	
   

  	
   

  	
   

  
	
  Duly
  authorised to sign for and on behalf of 

  SIRVA UK Limited

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by
  Kevin Pickford:

  	
   

  	
  /s/
  KEVIN PICKFORD

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