Document:

exv10w13

 

EXHIBIT 10.13

INDIVIDUAL INDEFINITE EMPLOYMENT AGREEMENT EXECUTED BY THE PARTY OF T.F.M., S.A. DE C.V.,
REPRESENTED HEREIN BY MR. JUAN EZEQUIEL VERGARA KURI, HEREINAFTER TO BE REFERRED TO AS “THE
COMPANY” AND BY THE PARTY OF MR. CESAR ALFREDO POLACK, APPEARING ON HIS OWN BEHALF, HEREINAFTER TO
BE REFERRED TO AS “THE EMPLOYEE”, IN ACCORDANCE WITH THE FOLLOWING DECLARATIONS AND CLAUSES:

D E C L A R A T I O N S

I. “THE COMPANY” hereby declares:

	a)	 	To be a company duly constituted in accordance with Mexican law, as accredited by Public
Instrument number 50,413, dated November 22, 1996, notarized by Mr. Miguel Alessio Robles,
Mexico City Notary Public number 19; To reside at Avenida Periférico Sur 4829, 4th
floor, Colonia Parques del Pedregal, Delegación Tlalpan, Mexico City, Mexico, 13010.

	b)	 	That “THE COMPANY” requires the services of “THE EMPLOYEE” to perform the duties of the
position of VICE-PRESIDENT OF INFRASTRUCTURE, to include all activities inherent to
and/or associated with their primary employment obligation;
	 
	II.	 	“THE EMPLOYEE” hereby declares:

	a)	 	To be of PERUVIAN nationality, to be 49 years of age, and to reside at
ANTONIO CASO # 155, COL. COLINAS DE SAN JERONIMO, MUNICIPALITY OF MONTERREY, N.L.,
address indicated to receive all class of notifications; and to also be MALE and
MARRIED.

	b)	 	To be duly and legally authorized to enter into this agreement, and to also hold the studies,
know-how, and the experience required and essential for the development of the activities
required of the position described in point b) to declaratory statement I herein;

	c)	 	To be in perfect health in order to perform the duties for which “THE EMPLOYEE” is
contracted, expressly affirming to not suffer from any professional or medical disease,
physical or mental, contagious or incurable; and to also not be addicted to the consumption of
any class of illegal drugs or narcotics, or to suffer from alcoholism.
	 
	III.	 	“BOTH PARTIES” hereby jointly declare:

	a)	 	That the parties enter into this Individual Employment Agreement of their own free will and
consent to formalize the legal-employment relationship between the parties; in accordance with
the preceding declaratory statements, being subject to compliance with the following:

“C L A U S E S”

FIRST: “THE DURATION OF THIS AGREEMENT”.- Both parties hereby agree that this Agreement
shall be executed for an indefinite period; “THE COMPANY” retaining their rights in the event, at
the discretion of “THE COMPANY”, “THE EMPLOYEE” lacks the capacity, aptitude, abilities, and/or any
other requirements indicated in the DECLARATIONS to this Agreement, to hold the position subject of
the present.

SECOND: “THE SERVICES RENDERED”.- “THE EMPLOYEE” shall render their personal and
professional services to “THE COMPANY” to perform the duties of the position described in the
Chapter referring to the Declaratory Statements, and shall labor under the direction, dependence,
subordination, and coordination of “THE COMPANY”, and shall also carry out all activities derived
from and related to, but not limited to, their primary obligations.

THIRD: “PLACE OF WORK”.- “THE EMPLOYEE” shall render the services contracted under the
terms of this agreement and in accordance with the declarations and clauses preceding at the
address of the “THE COMPANY” defined in Declaratory Statement I point a) herein, or at any location
so indicated by “THE COMPANY”; “THE EMPLOYEE” hereby expressly consents to any transfer or
relocation to any site where “THE COMPANY” requires the services of “THE EMPLOYEE”.

 

 

FOURTH: “SALARY”.- “THE EMPLOYEE” shall receive a Salary for services rendered to “THE
COMPANY” in the monthly amount of $ 128,700.00, which shall be paid in Mexican
pesos at the address of “THE COMPANY” or at the location mutually agreed upon by the parties. Also,
in relation to the ELEVENTH clause herein, the weekly days off “THE EMPLOYEE” has the right to
enjoy shall, in terms of remuneration, be covered under the Salary amount stipulated in this
clause.

FIFTH: “THE WORK WEEK”:- “THE EMPLOYEE” shall be required to work 48 hours per week, which
“THE COMPANY” shall distribute according to their needs and in accordance with Article 59 of the
Federal Labor Law. “THE EMPLOYEE” hereby expressly agrees to render their services during the
shifts and/or schedules “THE COMPANY” requires, according to the needs of same, and that “THE
COMPANY” may change said shifts and/or schedules to obtain the best performance and productivity
for the benefit of both parties.

SIXTH: “EXTRA HOURS” AND “OVERTIME”.- “THE EMPLOYEE” hereby expressly agrees to render
their services during extra hours when “THE COMPANY” so requires, under the terms and conditions
set forth by Articles 66, 67, and 69 of the Federal Labor Law. Both parties also hereby agree that
“THE EMPLOYEE” shall not work any extra hours without the respective written authorization or order
issued by “THE COMPANY”. Therefore, “THE EMPLOYEE” expressly acknowledges that their right to
receive payment for overtime shall be reliant on the aforementioned requisite.

SEVENTH: “CONFIDENTIALITY”.- Under the terms of Articles 134 and 135 of the Federal Labor
Law, the parties hereby agree that both during the effective period of this agreement and following
the termination or rescission of same, “THE EMPLOYEE” shall be obligated to not disclose, use, or
benefit from personally or through third parties, any and all information related to the business,
activities, and/or operations of “THE COMPANY” that “THE EMPLOYEE” may and/or has had access to by
reason of the present employment relationship; nor shall “THE EMPLOYEE” reveal any information,
directly or indirectly, verbal or written, regarding the methods, systems, and/or activities of any
nature related to “THE COMPANY”, during the development of their activities. “THE EMPLOYEE” shall
also not disclose the content of any and all documents, studies, programs, proposals, or computer
programs, etc., and in general any and all documents that may have been provided during the
performance of their services. “THE EMPLOYEE” shall also be obligated to not benefit personally, or
through third parties, from any patent, trademark, and/or copyright property of “THE COMPANY”.

EIGHTH: “MEDICAL EXAMINATIONS”.- “THE EMPLOYEE” is hereby obligated to submit to any and
all medical certifications and/or examinations required by “THE COMPANY”, at any time. In the event
the results of any medical certification and/or examination practiced on “THE EMPLOYEE” show that
“THE EMPLOYEE” has knowingly deceived “THE COMPANY” with regards to their state of health, “THE
COMPANY” may terminate the employment relation at no liability to “THE COMPANY”, “THE EMPLOYEE”
hereby acknowledging the content and scope of this clause as a critical hiring condition.

NINTH: “GENERAL CONDITIONS”.- The parties hereby expressly agree to be subject to the
general conditions of employment under which “THE COMPANY” operates, and also to the technical and
administrative rules “THE COMPANY” has developed for the execution and coordination of tasks, and
to all other internal policies. “THE EMPLOYEE” is hereby obligated to observe, respect, and adhere
to each and every one of the policies, guidelines, and provisions imposed by the Internal Labor
Regulation issued by “THE COMPANY”, a copy of which has been delivered to “THE EMPLOYEE”, implying
that on signing hereunder, “THE EMPLOYEE” expressly agrees to be subject to the terms contained in
said regulation.

TENTH: “TRAINING”.- “THE COMPANY” shall train “THE EMPLOYEE”, in accordance with the
training courses and programs “THE COMPANY” currently offers and has duly filed with the Ministry
of Labor and Social Welfare, under the terms of the Federal Labor Law.

ELEVENTH: “VACATION TIME AND DAYS OFF”.- The parties hereby agree that “THE EMPLOYEE” shall
have the right to vacation time after completion of one year of service, under the terms of the
Federal Labor Law and in accordance with the respective program developed by “THE COMPANY”, defined
as follows: 1 to 3 years of service, the Employee shall be granted 10 days vacation time, for 4
years of service this shall be 12 days vacation time, between 5 and 9 years of service, the
Employee will be granted 14 days vacation time, and between 10 and 14 years of service, the
Employee will be entitled to 16 vacation days. “THE EMPLOYEE” shall receive a vacation bonus
equivalent to 50% of their corresponding salary during the vacation period. The remuneration for
the vacation time shall be calculated on the monthly salary amount stipulated in the FOURTH clause
herein.

 

 

Both parties also hereby accept and agree that “THE EMPLOYEE” will have one day off each week, of
the calendar month, this day preferably being Sunday; however, “THE COMPANY” may change this day
when so required to meet the needs of “THE COMPANY”; therefore, “THE EMPLOYEE” hereby grants their
consent and will for “THE COMPANY” to exercise the foregoing under the abovementioned terms.

TWELFTH: “SENIORITY”.- For all corresponding legal purposes, “THE COMPANY” hereby
acknowledges the start date for “THE EMPLOYEE” as APRIL 21, 2003.

THIRTEENTH: “THE EMPLOYEE” shall have the right to receive payment of an annual End of the Year
Bonus equal to 30 days salary when “THE EMPLOYEE” has worked the whole year, otherwise, “THE
EMPLOYEE” will only receive the amount proportionate to the time worked. Payment of this benefit
shall be made before December 20 of each year.

Both parties hereby agree that any matter not considered in this agreement shall be governed by the
provisions set forth by the Third Title of the Federal Labor Law and expressly submit any and all
matters relating to compliance with, interpretation and execution of this agreement to the
jurisdiction and authority of the Board of Arbitration and Conciliation in Mexico City, Mexico.

Having read this Agreement, the parties to same acknowledge its content and legal force, and sign
by mutual agreement in Mexico City, Mexico on the 11th day of the month of September, 2003.

	 	 	 
	COMPANY

	 	EMPLOYEE
	 
	 	 
	illegible signature

	 	illegible signature
	 
	 	 
	 

	 	 
	JUAN EZEQUIEL VERGARA KURI

	 	CESAR ALFREDO POLACK BELAUNDE
	 
	 	 
	illegible signature

	 	illegible signature
	 
	 	 
	 

	 	 
	WITNESS

	 	WITNESS
	VICTOR MANUEL HUACUJA LEYZAOLA

	 	LUIS MIGUEL LAVIN TORRESExhibit 10.1

 

HearUSA, Inc.

Form of

2007 INCENTIVE COMPENSATION PLAN

NONQUALIFIED OPTION AGREEMENT

 

THIS AGREEMENT is made as of ___________________________, between HearUSA, Inc., a Delaware corporation (hereinafter referred to as the “Company”), and___________ (hereinafter referred to as the “Optionee”).
 

 

WITNESSETH:

 

WHEREAS, Optionee is [an employee/director/consultant] of the Company and has provided to the Company certain services; and

 

WHEREAS, in accordance with the HearUSA, Inc. 2007 Incentive Compensation Plan (the "Plan"), the Company desires to compensate Optionee in part through the grant of an option to purchase shares of the Company’s common stock, par value $.10 per share (the "Common Stock"),

 

NOW, THEREFORE, in consideration of the premises, the Company and the Optionee agree as follows:

 

1.         Grant of Option. Pursuant to action of the Compensation Committee of the Board of Directors of the Company (the “Committee”), which action was taken on ________________ (“Date of Grant”) and subject to the terms and conditions of the Plan and this Agreement, the Company has granted to the Optionee the right (the “Option”) to purchase all or any part of an aggregate of ________________ shares (the “Optioned Shares”) of the Common Stock.  The terms, conditions and provisions of the Plan are incorporated by reference herein and in all cases the terms and conditions of the Plan shall control in any case of conflict between the Plan and the terms of this Agreement.  Capitalized terms used herein shall have the meanings ascribed to them in the Plan
unless otherwise herein defined. This option is not intended to qualify as, and will not be treated as, an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

2.         Option Price. The exercise price per share (“Option Price”) is $_____ for each Optioned Share.

3.         Term of Option.  The term of the Option is for a period of ten (10) years from the Date of Grant, subject to earlier termination as provided herein, and the Option may be exercised during such term only in accordance with the provisions of the Plan and the terms of this Agreement.

4.         Exercise of Option.  Except as otherwise provided herein, the Option shall be exercisable only by the Optionee during the Optionee’s lifetime as follows:

 

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            (i)
 	
            Method of Exercise. The Option shall be exercisable by delivery of written notice of such exercise to the Company, accompanied by payment of the Option Price of the Optioned Shares with respect to which the Option is being exercised. Each such notice of exercise shall:
 

 

	
             
 	
            (a)
 	
            state the election to exercise the Option, the number of shares of Common Stock with respect to which it is being exercised, the address and Social Security Number of the person in whose name the certificate(s) evidencing the Optioned Shares are to be issued;
 

	
             
 	
            (b)
 	
            contain such representations and agreements as to investment intent with respect to such Optioned Shares as may be satisfactory to the Company’s counsel;
 

	
             
 	
            (c)
 	
            be signed by the person entitled to exercise the Option and, if the Option is being exercised by any person or persons other than the Optionee, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person or persons to exercise the Option; and
 

	
             
 	
            (d)
 	
            be accompanied by payment of the full amount of the Option Price of the Optioned Shares with respect to which the Option is being exercised (as contemplated by the Plan) and be delivered in person or by certified mail to the Secretary of the Company.  
 

 

	
             
 	
            (ii)
 	
            Certificates for Shares. The certificate or certificates for shares of Common Stock as to which the Option has been exercised shall be registered in the name of the person or persons exercising the Option. Until the issuance of the shares of Common Stock (as evidenced by the delivery of the stock certificate and appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Shares, notwithstanding the exercise of the Option. No adjustment will be made for a dividend or other rights for which the record date is prior to the date the Shares are issued, except as provided in paragraph 6 hereof.
 

 

5.         Non-Transferability of Option. The option may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than that permitted under the Plan for a non-qualified stock option.  Any attempted sale, pledge, assignment, hypothecation, transfer or other disposition of the Option contrary to the provisions of the Plan or this Agreement shall be null and void and without effect and, upon the happening of any such event, the Board or Committee, in its sole discretion, may terminate the Option forthwith.

 

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            6.
 	
            Adjustments.  
 

(a)       Adjustments Upon Changes in Capitalization. If there is any change in the Common Stock by reason of any stock dividend, stock split (or reverse stock split), spin-off, split-up, spin-out, recapitalization, merger, consolidation, reorganization, combination or exchange of Common Stock, or similar transaction, the number of shares subject to the Option and the price thereof, as applicable, shall be appropriately adjusted by the Committee.

Neither the issuance of Common Stock for a consideration, the issuance of rights or options to acquire Common Stock, nor the issuance of Common Stock on the conversion of a debenture or capital stock, shall be considered a change in the Company’s capital structure for these purposes. However, the Committee may make or provide for such adjustments in the number and/or kind of Optioned Shares as the Committee in its sole discretion may determine is appropriate to reflect any event of the type described in the preceding sentence.

 

No fractional shares shall be issued upon any exercise of the Option following an adjustment made pursuant to this paragraph 6, and the Option Price to be paid shall be appropriately adjusted on account of any fractional share not issued upon such an exercise.

 

The liquidation or dissolution of the Company, or merger or consolidation in which the Company is not the surviving or resulting corporation, shall cause the Option to expire to the extent it is unexercised at such time.

 

No adjustment shall increase the intrinsic value of the Option or decrease the ratio of the purchase price for the Shares subject to the Option to Fair Market Value.

 

(b)       Change of Control.  The effect of a change of control on the Option shall be as set forth in the Optionee’s employment agreement with the Company, if any.  [Provide other change of control provision, if applicable.] 

 

7.         Approval of Counsel and Investment Representation.  The exercise of the Option and delivery of Common Stock pursuant thereto shall be subject to approval by the Company’s counsel that such exercise and issuance comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, the rules and regulations promulgated under each of such acts, and the requirements of any stock exchange upon which Common Stock may then be listed. As a condition of the exercise of the Option, the Committee may require the person exercising the Option to represent and warrant that the shares are being purchased only for investment and without any present intention to sell or distribute such shares, if, in the
opinion of counsel for the Company, such a representation is required by any of the aforementioned relevant provisions of law.

 

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8.         Reservations of Shares. The Company, during the term of this Option, will at all times reserve and keep available such number of shares as shall be sufficient to satisfy the requirements of this Agreement.

The inability of the Company to obtain from any regulatory body having jurisdiction, authority or approval deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares hereunder, shall relieve the Company of any liability in respect of the nonissuance or sale of such shares as to which the requisite authority or approval shall not have been obtained.

 

9.         Restrictions on Shares. Common Stock issued upon the exercise of the Option shall be issued only to the holder of the Option. Any restrictions upon transfer of shares issued upon exercise of the Option which in the opinion of counsel to the Company are required by the Securities Act of 1933, as amended, shall be noted on the certificates therefor by appropriate legend.

10.       Resale or Transfer.  Upon any sale or transfer of the shares purchased upon exercise of the Option, the Optionee shall satisfy the Company that either (i) the shares to be so sold or transferred have been registered under the Securities Act of 1933, as amended, and that there is in effect a current prospectus satisfying the requirements of Section 10(a) of said Act that is being or shall be delivered to the purchaser or transferee at or prior to the time of delivery of the certificates evidencing the shares to be sold or transferred, or (ii) such shares may then be sold without such registration without violating Section 5 of said Act. In addition, the Optionee shall satisfy the Company that any other restrictions upon the transfer of such shares, imposed either under the Plan or this Agreement,
have been complied with or are inapplicable.

11.       Benefits of Agreement. This Agreement shall inure to the benefit of and, except as otherwise provided herein, shall be binding upon each successor of the Company. All obligations imposed upon the Optionee and all rights granted to the Company under this Agreement shall be binding upon the Optionee’s heirs, legal representatives, successors and permitted assignees. This Agreement shall be the sole and exclusive source of any and all rights which the Optionee, the Optionee’s heirs, legal representatives, successors or permitted assignees may have in respect of the Plan or any Options or shares granted or issued thereunder whether to himself or to any other person. 

12.       Notices. Each notice relating to this Agreement shall be in writing and delivered in person or by certified mail to the proper address. Each notice shall be deemed to have been given on the date it is received. Each notice to the Company shall be addressed to it at 1250 Northpoint Parkway, West Palm Beach, Florida 33407, attention of Denise Pottlitzer, Secretary, or her successor. Each notice to the Optionee, or other person or persons then entitled to exercise the Option, shall be addressed to the Optionee, or such other person or persons, at the Optionee’s address below specified. Anyone to whom a notice may be given under this Agreement may designate a new address by notice to that effect.

 

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                        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name by the below authorized representative and its corporate seal to be hereunto affixed and attested by its Secretary or one of its Assistant Secretaries and the Optionee has hereunto set his hand all as of this day month and year first above written.

 

HearUSA, Inc.

 

	
             
 	
            By:__________________________
 

 

 

Attest:

 

____________________________

 

 

	
             
 	
            ____________________________
 
	
             
 	
            Optionee
 

 

 

 

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