Document:

exhibit10_1.htm

First Amendment to

Dameris Senior Executive Agreement

RECITALS

On Assignment, Inc. (the “Company”) and Peter Dameris (“Executive”) have entered into a Senior Executive Agreement dated November 4, 2010 (the “Employment Agreement”).  The Company and Executive desire to amend certain provisions of the Employment Agreement pursuant to this First Amendment to the Senior Executive Agreement (the “Amendment”), dated March 30, 2010.  For good and valuable consideration, receipt of which is hereby acknowledged by both the Company and Executive, the Company and Executive hereby amend the Employment Agreement as follows:

AMENDMENT

	
1.    

	
The following sentence is added to the end of Section 1(b)(i) of the Employment Agreement:

“Notwithstanding the foregoing, performance targets applicable to any Annual Bonus may be determined by reference to such other performance criteria and metrics as the Compensation Committee and Executive may mutually agree.”

	
2.    

	
The last paragraph of Section 1(b)(iii)(C) of the Employment Agreement is deleted and replaced in its entirety by the following:

“Notwithstanding the foregoing, payment or settlement of Additional Grants, if applicable, may be accelerated as provided in Section 1(b)(iii)(E) and (F) below.  Subject to the foregoing requirements, Additional Grants shall be made under a Plan and shall be paid at the time of settlement, to the extent earned, in either (i) fully vested, freely transferable shares of Company common stock (subject to limitations on transfer imposed under applicable law) or (ii) if insufficient shares remain under the applicable Plan at the time of settlement to pay any earned portion of an Additional Grant in shares of Company common stock, then such portion of the Additional Grant shall instead be paid in cash.   During the first ninety days of the calendar year in which such Additional Grant is made (and, in any event, upon or prior to making the applicable grant), the Company and Executive shall determine by mutual agreement the performance criteria applicable to the vesting of Additional Grants (selected from performance criteria enumerated in a Plan) and the Compensation Committee shall, in consultation with Executive, establish in writing performance goals applicable to each Additional Grant based on such performance criteria and determined by reference to the thirteen-month performance period beginning on January 1 of the year of grant, provided, that with respect to the 2010 Additional Grant only, the relevant performance period shall instead commence on January 1, 2010 and shall continue through December 31, 2012.  Each Additional Grant shall vest, subject to Sections 1(b)(iii)(E) and (F) below, on February 1 of the year immediately following the year in which such Additional Grant is made, subject to Executive’s continued employment through such February 1, in each case, as to (i) no portion of the award if the applicable performance goals are attained at less than 90% of target, (ii) 80% of the award if the applicable performance goals are attained at 90% of target, (iii) 100% of the award if the applicable performance goals are attained at or above 110% of target, and (iv) a linear pro ration between 80% – 100% of the award if the applicable performance goals are attained between 90% – 110% of target  (for example, an Additional Grant shall vest as to 95% of the award upon attainment of 105% of the applicable target),  

 

  

  

  

 

provided, that subject to each of Sections 1(b)(iii)(E) and (F) below, the continued service requirement applicable to the 2010 Additional Grant shall be satisfied by Executive’s continued employment through February 1, 2011, but vesting of the award shall remain subject to the attainment of the applicable performance criteria during the applicable performance period (to the extent not previously attained).”

	
3.    

	
Section 1(b)(iii) (F)(1)(c) of the Employment Agreement is deleted and replaced in its entirety by the following:

“(c)           Additional Grants.  Additional Grants that have vested but have not been settled or paid as of the date of a Qualifying Termination shall be settled or paid as soon as practicable after the February 1 immediately following the Date of Termination, but in no event later than the March 15 immediately following such Date of Termination.   Additional Grants other than the 2010 Additional Grant that have not vested as of the Date of Termination shall remain outstanding and eligible to vest upon the February 1 immediately following the Date of Termination (without the requirement of continued employment beyond such termination) and shall vest on a pro-rated basis upon and be paid as soon as practicable after such February 1 (but in no event later than the March 15 immediately following such Date of Termination), in a manner determined by multiplying amounts that would be earned under such Additional Grant based solely on attainment of the applicable performance objectives by a fraction, the numerator of which equals the number of days Executive was employed by the Company from January 1 of the applicable year of grant through the Date of Termination, and the denominator of which equals 396.  With respect to the 2010 Additional Grant, (i) if a Qualifying Termination occurs prior to February 1, 2011, the 2010 Award shall be treated in accordance with the immediately preceding sentence (with attainment of the performance objectives measured through February 1, 2011), and (ii) if a Qualifying Termination occurs on or after February 1, 2011 (but prior to February 1, 2013), the 2010 Additional Award shall be settled or paid based on actual performance through the Date of Termination, subject to Section 1(g) below, as soon as practicable after the February 1 immediately following the Date of Termination, but in no event later than the March 15 immediately following the Date of Termination.

 

	
4.    

	
Section 1(b)(iii) (F)(2) of the Employment Agreement is deleted and replaced in its entirety by the following:

“(2)           Termination for Cause; Resignation Other Than for Good Reason.  If Executive’s employment is terminated by the Company for Cause or due to Executive’s resignation other than for Good Reason, (a) all LTIP Awards other than the 2010 Additional Grant that have not vested as of the Date of Termination shall terminate, (b) all LTIP Awards other than Additional Grants that have vested prior to the Date of Termination, but have not been settled or paid as of the Date of Termination (if applicable) shall, subject to Section 1(g) below, be settled or paid as soon as practicable after the Date of Termination, but in no event later than the March 15 immediately following such Date of Termination, (c) all LTIP Awards that are Additional Grants other than the 2010 Additional Grant and have vested prior to the Date of Termination, but have not been settled or paid as of the Date of Termination (if applicable), subject to Section 1(g) below, shall be settled or paid as soon as practicable after the February 1 immediately following the Date of Termination, but in no event later than the March 15 immediately following the Date of Termination and (d) with respect to the 2010 Additional Grant (i) if such termination occurs prior to February 1, 2011, the 2010 Additional Grant shall terminate, and (ii) if such termination occurs on or after February 1, 2011 (but prior to February 1, 2013), the 2010 Additional Award shall be settled or paid based on actual performance through the Date of Termination, subject to Section 1(g) below, as soon as practicable after the February 1 immediately following the Date of Termination, but in no event later than the March 15 immediately following the Date of Termination.

 

 

 

|

  

  

  

 

******************

The modifications to the Employment Agreement contained in this Amendment shall, except as expressly provided otherwise herein, take effect from and after the date of this Amendment.  Except as expressly provided herein, all terms and conditions of the Employment Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, Executive and the Company have executed this Amendment as of the date first above written.

	  	
EXECUTIVE

 

/s/Peter Dameris

Peter Dameris

 

 

On assignment, Inc.

 

By:  /s/Jeremy Jones

Its:  Jeremy Jones, Chairman of the Board

 

 

 

 

|Exhibit 10.7

 FIRST AMENDMENT TO OFFICE BUILDING LEASE

      THIS FIRST AMENDMENT TO OFFICE BUILDING LEASE (this “Amendment”) is made and entered into this 14th day of December, 2009, by and between VERIZON BUSINESS NETWORK SERVICES, a Delaware corporation (hereinafter referred to as “Landlord”) and AMERICAN TELECONFERENCING SERVICES, LTD., DBA PREMIERE GLOBAL SERVICES (hereinafter referred to as “Tenant”).

 WITNESSETH:

      WHEREAS, Landlord and Tenant entered into that certain Office Building Lease, dated as of November 12, 2009 (the “Lease”);

      WHEREAS, Landlord and Tenant desire to confirm certain dates set forth in the Lease and to make those certain other changes set forth herein;

      NOW, THEREFORE, for and in consideration of TEN DOLLARS ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto for themselves and their successors and assigns do hereby agree as follows:

      1. Definitions. Any capitalized terms not defined herein shall have the meaning as set forth in the Lease.

      2. Commencement Date. The Commencement Date of the Lease shall be November 20, 2009.

      3. Expiration Date. The Expiration Date of the Lease shall be November 30, 2020.

      4. Existing FF&E. Section 4.b of the Lease is hereby deleted in its entirety and replaced with the following:

      “Pursuant to
the terms of this Section, Landlord will transfer to Tenant ownership of certain
of the Systems Panel Furniture cubicles currently located in Suites D4 and D5 on
the 4th and 5th floors of Building D. Within thirty (30) days after
the date of this Amendment, Landlord, at its sole cost and expense, will
relocate the System Panel Furniture cubicles in D4 to Suite D5 on the 5th
floor of Building D. Any damaged cubicles will be removed by Tenant within
the above thirty (30) day period and discarded at Tenant’s sole cost and
expense. Following the relocation of the cubicles from Suite D4 to Suite D5
pursuant to this Section, Tenant shall be the owner of all of the cubicles
located in Suite D5 and such cubicles shall be referred to herein as the
“Existing FF&E.” Landlord will store the Existing FF&E in
Suite D5 through March 20, 2010 at no charge to Tenant. Following March 20,
2010, Tenant may elect to extend such storage period on a month-to-month basis
(but not to exceed ninety (90) days (such extension period is referred to in
this paragraph as the “Extension Period”)), provided that (x) Tenant
shall provide Landlord written notice of such extension of the storage period no
later than February 20, 2010, and (y) Tenant shall pay to Landlord, as
Additional Rent, $0.937 per month per square foot of storage space leased.
For purposes of calculating such Additional Rent (whether pursuant to this
paragraph or last grammatical paragraph of this Section), the “storage
space leased” shall mean the actual square footage occupied by the Existing
FF&E. During the Extension Period, either party shall have the

 1

 right to terminate the term of Tenant's storage rights by giving at least thirty (30) days notice to the other; however, the effective date of any such termination shall not be any earlier than April 20, 2010.

      Prior to March 20, 2010, or the expiration of the Extension Period (if exercised), Tenant shall relocate the Existing FF&E to the Premises at its sole cost and expenses. Tenant shall provide Landlord no less than five (5) business days notice of the intended relocation. At any time prior to March 20, 2010, or during the Extension Period (if exercised), Landlord shall have the one (1) time right, upon thirty (30) days prior written notice to Tenant, to require Tenant to relocate the Existing FF&E to a location or locations identified by Landlord in Building D at Tenant’s sole cost and expenses.

      Tenant shall have sole liability for any damage that occurs to the Existing FF&E while it is being stored outside of the Premises. Except as otherwise provided herein, Tenant shall accept the Existing FF&E in its “as-is” condition. Landlord represents and warrants that Landlord owns the Existing FF&E free and clear of all liens and encumbrances. Tenant shall protect, defend, indemnify and hold Landlord harmless from and against any and all claims, losses and liabilities in any way arising or resulting from or in connection with the Existing FF&E which arise after the delivery of the Premises to Tenant.

      The Existing FF&E shall be included in the definition of “Tenant’s Property” in Section 13.2 of the Lease, and may be removed by Tenant at any time during the Term, subject to the provisions of Section 13.2 of the Lease. Prior to the expiration or earlier termination of the Lease, Tenant shall remove the Existing FF&E from the Premises at its sole cost and expense. Tenant shall be responsible for disposing of any of the Existing FF&E it will not use at Tenant's sole cost and expense within the time frames provided above.

      Unless Landlord allows Tenant in writing, at Landlord’s sole discretion, to remain at the storage space on a month to month basis on the same terms and conditions as provided above, if Tenant fails to surrender the storage space by March 20, 2010, or upon expiration or earlier termination of the Extension Period if extended as provided above, the Additional Rent for such storage space shall immediately be $1.41 per month per square foot of storage space leased and the leasing of such storage space shall be terminable at will at any time by Landlord upon notice to Tenant. Additionally, in the event of such holdover, Landlord shall have all of its rights set forth in Section 18 of the Lease.

      5. Base Rent. The definition of Base Rent in Section 2.a of the Lease is hereby deleted in its entirety and replaced with the following:

      “Base Rent:

			
	Period
      

    	 Annual Base Rent (Per 

      Sq. Ft. Rentable Area) 
      

    	 Monthly Base Rent
      

    
	 September 1, 2010 – August 31, 2011	 $11.25	 $82,247.81
	 September 1, 2011 – August 31, 2012	 $11.75	 $85,903.26
	 September 1, 2012 – August 31, 2013	 $12.25	 $89,558.73
	 September 1, 2013 – August 31, 2014	 $12.75	 $93,214.18

 2

			
	Period
      

    	 Annual Base Rent (Per 

      Sq. Ft. Rentable Area) 
      

    	 Monthly Base Rent
      

    
	 September 1, 2014 – August 31, 2015	 $13.25	   $96,869.64
	 September 1, 2015 – August 31, 2016	 $13.75	 $100,525.10
	 September 1, 2016 – August 31, 2017	 $14.25	 $104,180.55
	 September 1, 2017 – August 31, 2018	 $14.75	 $107,836.01
	 September 1, 2018 – August 31, 2019	 $15.25	 $111,491.47
	 September 1, 2019 – August 31, 2020	 $15.75	 $115,146.93
	 September 1, 2020 – November 30, 2020	 $16.25	 $118,802.39

   The foregoing schedule is based upon September 1, 2010 being the Rent Commencement Date. In the event that the actual Rent Commencement Date occurs before September 1, 2010, the parties shall execute an amendment to modify this schedule accordingly. However, in no event shall the Expiration Date change due to the Rent Commencement Date occurring prior to September 1, 2010.”

      6. Reduction Date. Subject to the terms of Section 7, the first Reduction Date pursuant to Section 7.4 shall be November 20, 2013, and subsequent Reduction Dates shall occur on each anniversary of such date for the remainder of the Term.

      7. Exercise of Options to Extend. The dates within which Tenant may deliver an Interest Notice to exercise the Options pursuant to Section 40.3 shall be as follows: for the first Option Term, Tenant shall deliver the Interest Notice from and including November 30, 2019 through and including February 29, 2020; for the second Option Term, Tenant shall deliver the Interest Notice from and including November 30, 2024 through and including February 28, 2025.

      8. Notice for Building Manager. The following is hereby added to Section 30 of the Lease:

      “The mailing address for the Building manager is as follows:

      Brett Laplante

     Manager, Real Estate Operations

     2400 North Glenville, Room N/A,

     Richardson, Texas 75082”

      9. Landlord’s Mailing Address. Landlord’s Mailing Address set forth following Section 2.f of the Lease is hereby deleted and replaced with the following:

		
	      “Landlord’s Mailing Address:	 Verizon Portfolio Management
	  	 Attn: Lease Administration
	  	 4458 Madison Industrial Lane
	  	 Tampa, FL 33619
	  	 Mail Code FLG1-300 - CSPRCO

 3

		
	      With copy to:	 Verizon Business Network Services
	  	 15505 Sand Canyon Drive
	  	 Building C
	  	 Irvine, CA 92618
	  	 Attn: Manager, Real Estate, West Area

      10. Miscellaneous. Landlord and Tenant hereby ratify and affirm the Lease, except as amended hereby. The Lease, as amended hereby, constitutes the entire agreement of Landlord and Tenant with respect to the subject matter herein. This Amendment may be executed in several counterparts, each of which when so executed and delivered shall be an original, but such counterparts shall together constitute one and the same Amendment. This Amendment may be executed by each party upon a separate copy, and one or more execution pages may be detached from one copy of this Amendment and attached to another copy in order to form one or more counterparts. Signature pages exchanged by facsimile shall be fully binding.

 [Signature page follows]

 4

      IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be executed as of the date and year first above written.

			
	    	
      LANDLORD:

      VERIZON BUSINESS NETWORK SERVICES, 

      a Delaware corporation

    
	 	 	 
	 	 By:	 /s/ Windolph A. Wallace
      

    
	 	 Title:	 Manager, RE
      

    
	 	 	 
	 	
      TENANT:

      AMERICAN TELECONFERENCING 

      SERVICES, LTD., dba Premiere Global Services

    
	 	 	 
	 	 By:	 /s/ Michael E. Havener
      

    
	 	 Title:	 Treasurer
      

    

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}]]