Document:

Employment Letter

 Exhibit 10.3 
  

			
	August 20, 2009 	 	OFFER OF AT-WILL EMPLOYMENT

 Mr. Chris Gopal 
 Dear Chris, 
 Overland Storage, Inc. is pleased to extend the following offer of employment under
the general terms set forth below: 
  

			
	Position:	  	Vice President, Worldwide Operations (an executive officer position)
	Location:	  	4820 Overland Ave, San Diego, CA 92123
	Reports to:	  	Eric Kelly, Chief Executive Officer
	Appointment Date:	  	September 8, 2009 (corresponding with start date)
		
	Compensation:	  	$225,000 annual compensation paid in accordance with our normal payroll practices and subject to normal withholding. You will be eligible to participate in the executive
incentive plan upon final approval of the Compensation Committee of the Board of Directors (the “Committee”). Management currently intends to propose an executive incentive plan based on corporate and individual goals to be established by
the Committee with a target compensation of 50% of your annual compensation, payable in a combination of restricted stock and cash.
		
	Stock Options:	  	Management will recommend that the Committee award you an option to purchase 120,000 shares of Overland common stock at the Committee’s next regularly scheduled meeting. The
recommended option will be have an exercise price equal to the fair market value on the date of grant and will vest over a 24-month period. Additionally, the recommended option will contain language that will result in full vesting in the event of a
change of control of Overland.
		
	Severance and	  	
	Change of Control:	  	Management will recommend to the Committee that you become party to an Employment and Severance Agreement that will provide that, in the event you are terminated without cause,
Overland will provide severance benefits of six (6) months’ salary, six (6) months’ bonus accrual and six (6) months medical COBRA coverage, paid over the six (6) months following termination. In the event you are terminated without cause
within two (2) years following a change of control, you would receive the same benefits but they would be paid immediately upon termination. The Employment and Severance Agreement will set forth the eligibility and other terms and conditions of
these benefits. Management will recommend that the eligibility and other terms and conditions (other than the amount of the benefits) you will receive be substantially the same as those for other Vice Presidents who are executive
officers.

  

 -1- 

 Chris Gopal 
 Offer of Employment 
 August 20, 2009 
 Page 2 
  

			
	IRC Section 409A	  	
	Limitation:	  	The timing of all payments referenced above will be subject to restrictions, if applicable, under Internal Revenue Code Section 409A.

 Overland requires that, as a full-time employee, you devote your full business time, attention,
skills and efforts to the tasks and duties of your position. Overland also requires as a condition of your employment that you execute the attached and return it to the Human Resources Department prior to your start date. Your employment will not be
effective until we receive an executed copy. 
 At Overland we strive to maintain a safe, drug-free work environment conducive to effective
business operations. We require that our personnel and operating practices be consistent with the highest standards of health and safety. To meet these objectives, Overland requires successful completion of a drug screen test as a condition of
employment. Please contact Human Resources and they will set up your appointment. 
 Your Overland benefits will be effective on the first day
of the month following your start date. Overland is committed to making available excellent benefit programs and family services that respond to the needs of our employees. We believe we offer a flexible and competitive package. You will meet with
our Human Resources Department upon your arrival so that they can explain your new benefits and sign you up for coverage. 
 The Immigration
Reform and Control Act of 1986 requires employers to provide verification of a new employee’s identity and employment eligibility on their first day of employment. It is necessary, therefore, that you complete the US Government and Employment
Eligibility Verification Form (I-9) and provide documentation to verify your identity and employment eligibility. In order to begin your employment with us, and as part of our normal process, please bring your I-9 documents with you on your first
day of work. 
 Your employment with Overland will be “at-will”. This means that it is not for any specified period of time and can be
terminated by you or by Overland at any time, with or without advance notice, and for any or no particular reason or cause. It also means that your job duties, title, responsibilities, reporting level, compensation and benefits, as well as
Overland’s personnel policies and procedures may be changed with or without notice at any time in the sole discretion of Overland, subject to benefits you may be entitled to under the Employment and Severance Agreement referenced above. The
“at-will” nature of your employment will remain unchanged during your tenure as an employee and may be changed only by an express written agreement that is signed by you and by the Chief Executive Officer. 
 As an Overland employee, you will be asked to continually support our vision by living up to our values of Respect, Innovation,
Winning, Customers, and Knowledge. You will learn more about Overland and our values during your new hire orientation and you can learn more prior to your start of employment by visiting our website: www.overlandstorage.com. In
particular, you will required 
  

 -2- 

 Chris Gopal 
 Offer of Employment 
 August 20, 2009 
 Page 3 
 to comply with
Overland’s Code of Business Conduct and Ethics, a copy of which is available in the investor relations section of our website. Please feel free to bring any questions you may have to that discussion. 
 In order to document your acceptance, please countersign this letter no later than close of business Friday, August 21, 2009 and return to Eric
Kelly. Additionally, we will send a background check authorization form for your signature. Please return it with this letter if you have not previously signed such form in conjunction with your employment application. Your employment is conditioned
on our receipt of your executed copies of each of this letter and the background check authorization form. 
 Chris, we look forward to
you joining the Overland Executive Management Team. 
  

	
	Very truly yours,
	
	 /s/ Eric Kelly

	Eric Kelly
	Chief Executive Officer

  

			
	Acceptance:	 	 /s/ Chris Gopal

		 	Chris Gopal

 By signing, I understand, acknowledge and agree to all of the terms of this offer. 

 

 -3-Amendment to Agreements, dated as of October 1, 2002

 Exhibit 10.1 
 AMENDMENT TO AGREEMENTS 
 AMENDMENT TO
AGREEMENTS (“Amendment”), dated as of October 1, 2002 (“Effective Date”), by and between WEIGHT WATCHERS INTERNATIONAL, INC. (“WWI”), WW FOODS, LLC (“LLC”) and H.J. HEINZ COMPANY (“Heinz”).

 W I T N E S S E T H 
 WHEREAS, LLC and WWI are parties to a license agreement, dated as of September 29, 1999 (the “WWI License Agreement”);

 WHEREAS, LLC and Heinz are parties to a license agreement, dated as of September 29, 1999 (the “Heinz License
Agreement”); 
 WHEREAS, WWI and Heinz are parties to a license agreement, dated as of September 29, 1999 (such
agreement, together with the WWI License Agreement and the Heinz License Agreement, the “License Agreements”); 
 WHEREAS, WWI and Heinz are parties to an operating agreement, dated as of September 29, 1999 (such agreement, the “Operating Agreement”); and 
 WHEREAS, the parties wish to amend each License Agreement and the Operating Agreement as set forth in this Amendment; 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby amend each License Agreement and the Operating Agreement as follows:

 LICENSE AGREEMENTS 
 Article 1. Schedule B. Schedule B of each License Agreement shall be amended to add “Frozen Hand-Held Entrees (including frozen sandwiches and frozen wraps)” as a “Heinz
Licensed Products, Heinz Core Product Categories”, under “Worldwide Scope.” For the avoidance of doubt, Frozen Hand-Held Entrees does not include appetizers and snacks. 
 OPERATING AGREEMENT 
 Article 2. Schedule B. Schedule
B of the Operating Agreement shall be amended to add “Frozen Hand-Held Entrees (including frozen sandwiches and frozen wraps)” as a “Heinz Licensed Products, Heinz Core Product Categories”, under “Worldwide Scope.” For
the avoidance of doubt, Frozen Hand-Held Entrees does not include appetizers and snacks. 
 Article 3. Royalties.

 Section 3.1. Percentage. During the term of the Operating Agreement (including before the date of this
Amendment), Heinz shall pay to WWI a royalty payment equal to two and one-quarter percent (2.25%) times the Net Sales of all Frozen Hand-Held Entrees (the “Earned Royalties”). 
 Section 3.2. Net Sales. “Net Sales” means the total quantity of Frozen Hand-Held Entrees sold multiplied by the Net
Sales Price of the respective Frozen Hand-Held Entrees. 

 Section 3.3. Net Sales Price. “Net Sales Price” means Heinz’s
actual invoice price for the Frozen Hand-Held Entrees, less payment term discounts, promotional discounts (for trade merchandising and trade promotions directed to consumers), which promotional discounts are in the aggregate no more than ten
percent (10%) of the wholesale list price, discounts shown on the invoice and returns. 
 Section 3.4. Payment of
Royalties and Audits. 
 (a) Quarterly Payments. Heinz shall pay to WWI the Earned Royalties due and payable for each
calendar quarter within thirty (30) days after the end of each calendar quarter of each year during the term of the Operating Agreement except that Earned Royalties which accrued prior to the Effective Date of this Amendment shall be due and
payable within thirty (30) days of the Effective Date hereof. 
 (b) Quarterly Statements. Each quarterly payment
shall be accompanied by a written statement from Heinz, certified by a duly authorized officer of Heinz, setting forth an accounting, in form satisfactory to WWI, of sales volumes of the Frozen Hand-Held Entrees and the details by which the Earned
Royalties were computed for the period in respect of which such payment is made. Such statement shall include details of actual unit sales of the Frozen Hand-Held Entrees and a bridge between the actual invoice price and the Net Sales Price per SKU
and in total. 
 (c) Annual Statement. Heinz shall, on or before the seventy-fifth (75th) day after the end of each
calendar year, forward to WWI a statement certified by a financial officer of Heinz showing the volume, Net Sales Price and Net Sales of the Frozen Hand-Held Entrees for such year. 
 (d) Interest. Interest at a rate of one and one-half (1.5%) per cent per month (or if less, the maximum rate allowed by
applicable law) shall accrue on any amount due WWI hereunder commencing immediately after the payment was due until the date of receipt of payment by WWI. 
 (e) Financial Audits. Heinz shall preserve all books and records relating to the manufacture, sale, distribution and marketing of the Frozen Hand-Held Entrees in the United States for each year
during the term of the Operating Agreement for at least seven (7) years. WWI shall have the right upon reasonable advance notice to Heinz to audit such books and records (i.e., those within the seven (7) year retention period) at its own
expense during the term of the Operating Agreement and for seven (7) years thereafter. 
 Article 4.
Miscellaneous. 
 Section 4.1. Scope. This Amendment modifies each License Agreement and any renewals
thereof and the Operating Agreement and any renewals thereof solely with respect to

  

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the subject matter hereof and solely to the extent each License Agreement and the Operating Agreement contains any terms or conditions inconsistent with the terms herein. All remaining terms and
conditions in each License Agreement and the Operating Agreement remain unaffected and in full force and effect. 
 Section 4.2. Headings. The headings in this Amendment are inserted for convenience only and are in no way intended to describe, interpret, define, or limit the scope, extent or intent of this Amendment or any provision hereof.

 Section 4.3. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be
deemed an original but all of which shall constitute one and the same instrument. 
 Section 4.4. Severability. If
any provision hereof is held to be invalid or unenforceable by any court of competent jurisdiction or any other authority vested with jurisdiction, such holding shall not affect the validity or enforceability of any other provision hereto.

 Section 4.5. Amendment. This Amendment may be amended or modified only in writing and when executed by both
parties hereto. 
  

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

			
	WEIGHT WATCHERS INTERNATIONAL, INC.
		
	By:	 	 /s/ Robert W. Hollweg

	Name:	 	Robert W. Hollweg
	Title:	 	VP & Secretary
	Date:	 	10/1/02
	
	H.J. HEINZ COMPANY
		
	By:	 	 /s/ John B. Carroll

	 Name:
	 	John B. Carroll
	 Title:
	 	Managing Director - HFF
	 Date:
	 	10/1/02
	
	WW FOODS, LLC
		
	By:	 	 /s/ Robert Yoshida

	Name:	 	Robert Yoshida
	Title:	 	President
	Date:	 	10/1/02

  

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