Document:

EX101-092414-KMJEE

Exhibit 10.1

AMENDMENT
TO 
EMPLOYMENT AGREEMENT 

This Amendment (this “Amendment”) to the employment agreement of Kathryn M. JohnBull dated June 25, 2012 (the “Employment Agreement”), is made and entered into as of September 22, 2014 (the “Amendment Date”), by and between Kathryn M. JohnBull (the “Employee”) and DLH HOLDINGS CORP., a New Jersey corporation (the “Company”).  
W I T N E S S E T H:
WHEREAS, the Company and the Employee entered into the Employment Agreement to govern the terms of Employee’s employment by the Company as Chief Financial Officer; and
WHEREAS, the Company and the Employee desire to amend the Employment Agreement to provide, among other things, an extension of the term of the Employment Agreement; and
NOW, THEREFORE, it is mutually agreed by and between the parties hereto as follows:
SECTION 1. Amendments to the Employment Agreement.  As of the Amendment Date, the following amendments to the Employment Agreement shall be deemed effective:

		
	A.
	Sections 8.1 of the Employment Agreement is hereby amended and restated as follows: 

8.1    This Agreement shall be for a term (the “Initial Term”) commencing on the Effective Date (the “Commencement Date”) and terminating on June 25, 2017 (the “Expiration Date”), unless sooner terminated upon the death of the Employee, or as otherwise provided this Employment Agreement. From and after the Amendment Date, the term “Expiration Date”, as used in the Employment Agreement, shall mean and be June 25, 2017.

		
	B.
	Article XI of the Employment Agreement is hereby amended to add the following section as follows:

 
11.1A (a)  As an inducement to Employee to enter into this Amendment, the Company hereby grants to Employee options to purchase 200,000 shares of the Company’s Common Stock, $.001 par value (the “Options”), subject to the terms and conditions of the Company’s 2006 Long Term Incentive Plan, as amended (the “Plan”), and the terms and conditions set forth in the Stock Option Agreement which are incorporated herein by reference.  The Options shall be exercisable at a per share exercise price equal to the Closing Price of the Company’s Common Stock on the date of execution of this Amendment (the “Exercise Price”).  Provided Employee is an employee of the Company on each vesting date, and unless otherwise provided by this Agreement or in the Stock Option Agreement, the Options shall vest as follows: (i) 100,000 Options shall vest on September 30, 2015 and (ii) 100,000 Options shall vest if the Closing Price of the Company’s Common Stock equals or exceeds a per share price of 200% of the Exercise Price for a period of at least ten (10) consecutive trading days. The “Closing Price of the Company’s Common Stock” shall be determined in accordance with Section 11.4 of the Employment Agreement. In the event that the Company 

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effects a subdivision or consolidation of its Common Stock or other capital readjustment, the payment of a stock dividend, or other recapitalization, then the above-stated metric for determining the vesting of the Options granted hereunder shall automatically be adjusted to reflect such event.  The Options, to the extent vested, shall be exercisable for a period of ten years from the date of this Agreement (the “Exercise Period”).

(b)     Notwithstanding anything else to the contrary set forth herein or in the Employment Agreement, in the event of either a termination of Employee’s employment with the Company or a Change in Control (as defined in the Employment Agreement), the Options granted to Employee pursuant to this Amendment shall be governed by Section 11.6 and the applicable provisions of Article XII of the Employment Agreement. 

SECTION 2.  General Provisions.

		
	A.
	Modification; Full Force and Effect. Except as expressly modified and superseded by this Amendment, the terms, representations, warranties, covenants and other provisions of the Employment Agreement are and shall continue to be in full force and effect in accordance with their respective terms. 

		
	B.
	Governing Law. This Amendment has been negotiated and executed in the State of Georgia which shall govern its construction and validity.

		
	C.
	References to the Employment Agreement. After the Amendment Date, all references to “this Employment Agreement,” “this Agreement” and phrases of similar import, shall refer to the Employment Agreement, as amended by this Amendment (it being understood that all references to the date hereof or the date of this Employment Agreement shall continue to refer to June 25, 2012 unless a different date is expressly referenced).

		
	D.
	Definitions. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Employment Agreement.

		
	E.
	Counterparts. This Amendment may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. Executed counterparts may be delivered via facsimile or other means of electronic transmission. 

		
	F.
	Entire Agreement; Modifications. This Amendment contains the entire agreement and understanding of the parties with respect to its subject matter and supersedes all prior arrangements and understandings between the parties, both written and oral, with respect to its subject matter. This Amendment may not be amended or modified except in the manner for amendment of the Employment Agreement as set forth therein. The observance of any term of this Amendment may be waived (either generally or in a particular instance and either retroactively or prospectively) in the manner set forth in the Employment Agreement and the failure of any party at any time or times to require performance of any provision hereof shall in no manner affect the rights at a later time to enforce the same.  No waivers of or exceptions to any term, condition, or provision of this Amendment, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such 

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term, condition, or provision. This Amendment shall be binding upon and shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns.

Remainder of page intentionally left blank; signature page follows.

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IN WITNESS WHEREOF, the parties hereto have individually signed this Amendment, and in the case of the Company, have caused this Amendment to be signed by its authorized representative, all as of the date first written above.

DLH HOLDINGS CORP.

By:  /s/ Zachary C. Parker
  Zachary C. Parker
  Chief Executive Officer
 

By: /s/ Kathryn M. JohnBull
Kathryn M. JohnBull
Employee

4EX-10.7

 Exhibit 10.7 
  

 
 

 
 June 3, 2014 

Charles Kohl 
 25662 Shaw Place

 Stevenson Ranch, CA 91381 

Dear Chuck: 

Earlier today we jointly announced the proposed combination of 1st Enterprise Bank (“FENB”) and California United
Bank (“CUB”), to create the premier commercial bank in the Southern California market. We expect that, subject to obtaining the necessary regulatory and shareholder approvals, the transaction will close in October or November 2014 (the
“Closing”). Preparation for a conversion of the combined banks’ systems (“Conversion”) will begin prior to Closing and is expected to be completed in 4th quarter 2014 or 1st quarter 2015. 
 In keeping with our commitment to keep all of
FENB’s employees informed of the individual impact on them of this combination, at this time we are informing you that upon successful completion of the Conversion, your current position will be no longer be available. We currently anticipate
your separation date to be approximately 30 days following completion of the Conversion and management will inform you of the precise date (“Separation Date”) once it is determined. 

In recognition of your important contribution to the transition process, we would like you to remain as an employee until the
Separation Date. To recognize your continued service and support during the transition process, you will be eligible to receive a special incentive payment in a gross amount of $120,000 (“Incentive Payment”) if you remain employed by the
combined company until your Separation Date. This Incentive Payment will be subject to deductions required by law and will be paid in a one-time, lump sum payment. 

Between now and the Closing we do not expect any changes in your normal duties other than activities preparing for the
integration of our banks’ operations. Salary and benefits will not change. When your position is eliminated, you will receive your final pay, and payment for any accrued but unused vacation. 

In addition, in recognition of your service to FENB and continued service and support during the transition process, you will
be eligible to receive a special severance payment (“Severance Payment”) if you remain employed through the Separation Date. This Severance Payment will be based on your total years of service with FENB and CUB. Specifically, you will
receive a Severance Payment equal to the greater of (i) an amount equivalent to the base salary/pay for regular hours that you receive for one pay period, multiplied by the number of total years that you have worked for FENB and CUB (pro-rated
for 

 Charles Kohl 

June 3, 2014 
  Page
 2
 
  

 
a partial year of service), or (ii) an amount equivalent to the base salary/pay for regular hours that you receive for two pay periods. 

The gross amount of the Severance Payment will be subject to deductions required by law, and will be paid in a one-time, lump
sum payment, conditioned on your execution of a Severance Agreement and General Release (which has not been revoked), which will be provided to you as we get closer to your Separation Date. Please note that, if you voluntarily resign or are
terminated for cause prior to your Separation Date, you will not be eligible to receive this Severance Payment (or any portion of this Severance Payment). 

If the transaction is terminated for any reason, you will continue your employment with FENB under the same terms and
conditions of your current position with FENB, and you will not be eligible for the Severance Payment (or any portion of the Severance Payment) or the Incentive Payment.i 

Please feel free to contact the undersigned, with any questions or concerns regarding the information in this letter. Please
date and sign the additional copy of this letter in the space provided below, indicating your receipt of the letter and your understanding of its contents, and return it to Melanie Black or Susan Smith within five business days of your receipt of
the letter. 
 We appreciate your contribution to FENB and we wish you success in all of your future endeavors. 

 

					
	 Sincerely,
	 		 	
			
	 /s/ K. Brian Horton
	 		 	 /s/ David I. Rainer

	 K. Brian Horton
	 		 	 David I. Rainer

	 President
	 		 	 President & CEO

	 1st Enterprise Bank
	 		 	 California United Bank

 I have read and understand the above: 

 

					
	 /s/ Charles Kohl
	 		 	 06/03/2014

	 Charles Kohl
	 		 	 Date

  
  

	i 	 Please note that nothing in this letter constitutes an employment contract or alters the nature of your at-will employment.

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