Document:

Exhibit 10.66

 Exhibit 10.66 

 
 

 
  

	To:	Steve Stangl 

	From:	West Corporation Compensation Committee 

	Date:	February 6, 2013 

  

	Re:	Exhibit A 

  

 
 This Exhibit A for 2013 is entered into pursuant
to your Employment Agreement. 
  

	1.	Your base salary for 2013 is $500,000. 

  

	2.	Effective January 1, 2013, you will be eligible to receive a bonus based upon the Communication Services Segment’s Net Operating Income before corporate
allocations and before amortization (NOI PC&A). Your bonus shall be earned in three tranches. Tranche 1 will be earned pro-rata for each dollar of 2013 NOI PC&A up to $159.2 million. Tranche 2 will be earned pro-rata for each dollar of 2013
NOI PC&A greater than $159.2 million but equal to or less than $170.6 million. Tranche 3 will be earned pro-rata for each dollar of 2013 NOI PC&A greater than $170.6 million. The bonus calculation for each tranche is outlined below.

  

					
	  	  	 Bonus /Million of NOI PC&A
	 
	 Tranche 1
	  	$	1,570	  
	 Tranche 2
	  	$	21,930	  
	 Tranche 3
	  	$	20,000	  

 A maximum of 75% of the estimated pro-rata portion of the bonus earned for Tranches 1 and 2 may be
advanced quarterly. If any portion of the bonuses is advanced, it will be paid within thirty (30) days from the end of the quarter. 100% of the total bonuses earned will be paid no later than February 28, 2014. In the event there is a
negative calculation at the end of any quarter and a pro-rata portion of any bonus has been advanced in a previous quarter, a “loss carry forward” will result and be applied to the next quarterly or year-to-date calculation. In the event
that at the end of the year, or upon your termination if earlier, the aggregate amount of the bonuses which have been advanced exceeds the amount of bonus that otherwise would have been payable for 2013 (in the absence of advances) based on the
performance during 2013 (or, in the case of your termination, based on the performance during 2013 and the projection for performance for the balance of 2013 as of your termination date pursuant to your Employment Agreement), then the amount of such
excess may, in the discretion of the Compensation Committee, either (i) result in a “loss carry forward” which shall be applied to the quarterly or year-to-date calculation of bonuses, salary, severance, consulting fees and / or other
amounts payable in subsequent periods, or (ii) be required to be paid back to the company upon such request. 
 All
objectives are based on West Corporation’s consolidated operations and will not include income derived from mergers, acquisitions, joint ventures, stock buy backs or other non-operating income unless specifically and individually approved by
West Corporation’s Compensation Committee. 
  

	3.	In addition, if West Corporation achieves its 2013 publicly stated EBITDA guidance, you will be eligible to receive an additional one-time bonus of $100,000. This bonus
is not to be combined or netted together with any other bonus set forth in this agreement. 

  

	4.	At the discretion of the Compensation Committee, you may receive an additional bonus based on the Company’s and your individual performance.

  

	
	 /s/ Steve Stangl

	 Employee – Steve Stangl[Quantum Letterhead] 

November 8, 2012 

Mr. Jon W. Gacek
[address] 

	              
         	Re:        
      	Amendment to Offer Letter dated as of
      March 31, 2011

Dear Jon, 

     As you may
recall, your offer letter with Quantum Corporation (the “Company”) dated March 31,
2011 (the “Offer Letter”), provides for severance benefits to be paid to you if your
employment is involuntarily terminated by the Company other than for “cause” and
a “Change in Control” (as such terms are described in the Offer Letter) has not
occurred (the “Severance
Benefits”).

    
The Offer Letter is intended to comply with Section 409A of the Internal
Revenue Code of 1986, as amended and the final Treasury Regulations and any
guidance promulgated thereunder (collectively, “Section 409A”), so that the Severance
Benefits are not subject to any tax, interest or penalties under Section 409A.
For purposes of better complying with Section 409A, this letter (the
“Amendment”) modifies the terms of the Offer Letter by including the following
additional terms and conditions:

	The separation agreement and general release that
  is required to be executed in exchange for the Severance Benefits must become
  effective within 60 days after the termination of your employment. Your
  Severance Benefits will be paid in a single lump sum on the 60th
  day after you have a “separation from service” as defined in Section
  409A.
 
  
	References to your termination of employment with
  respect to any six-month delay required by Section 409A will mean a
  “separation from service” as defined in Section 409A. 

     Except as
provided above, the Offer Letter remains in full force and effect. Please
acknowledge your agreement by countersigning below and returning your
countersignature to me at your earliest convenience. 

[Signature page follows.]

		Sincerely,
		 
		 
		 
		/s/ Shawn D. Hall	 
		Shawn D. Hall
		Senior Vice President, General Counsel
      and
		Secretary
		 
		Quantum
Corporation

Agreed and Accepted November 8, 2012

	/s/ Jon W. Gacek	 
	Jon W.
Gacek

2f1012g2013ex4i_dutchesshold.htm

Exhibit 4.1

PROMISSORY NOTE

Dated: _________, 2012

FOR VALUE RECEIVED, and intending to be legally bound, Dutchess Holdings Corp., a Delaware corporation (the “Maker”) with an address at c/o Samir Masri CPA Firm P.C., 175 Great Neck Road, Suite 403, Great Neck, New York 11021, hereby unconditionally and irrevocably promises to pay to the order of NLBDIT 2010 Enterprises, LLC, a Nevada limited liability company (the “Payee”) with an address at c/o Sunrise Securities, 641 Lexington Avenue, 25th Floor, New York, NY 10022, in lawful money of the United States of America, the sum of any and all amounts that the Payee may advance to the Maker or any other third parties on behalf of the Maker (the “Principal Amount”) on or before the date (the “Maturity Date”) that the Maker (or a wholly owned subsidiary of the Maker) consummates a business combination with a private company in a reverse merger or reverse takeover transaction or other transaction  after which the company would cease to be a shell company (as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) (“Transaction”). In the event a Transaction is consummated, the proceeds received by the Maker or a subsidiary of the Maker shall first be used to repay the entire outstanding unpaid Principal Amount and the accrued unpaid interest on this Note.

Interest shall accrue on the outstanding Principal Amount of this Promissory Note on the basis of a 360-day year from _________, 2012 until paid in full at the rate of six percent (6%) per annum, and shall be due and payable on the Maturity Date, or the prepayment date, if any, whichever is earlier. This Promissory Note may be prepaid in whole or in part at any time or from time to time prior to the Maturity Date.

 

For purposes of this Promissory Note, an "Event of Default" shall occur if the Maker shall: (i) fail to pay the entire Principal Amount of this Promissory Note when due and payable, (ii) admit in writing its inability to pay any of its monetary obligations under this Promissory Note, (iii) make a general assignment of its assets for the benefit of creditors, or (iv) allow any proceeding to be instituted by or against it seeking relief from or by creditors, including, without limitation, any bankruptcy proceedings.

In the event that an Event of Default has occurred, the Payee or any other holder of this Promissory Note may, by notice to the Maker, declare this entire Promissory Note to be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Maker.  In the event that an Event of Default consisting of a voluntary or involuntary bankruptcy filing has occurred, then this entire Promissory Note shall automatically become due and payable without any notice or other action by Payee.  Commencing five days after the occurrence of any Event of Default, the interest rate on this Note shall accrue at the rate of 18% per annum.

The nonexercise or delay by the Payee or any other holder of this Promissory Note of any of its rights hereunder in any particular instance shall not constitute a waiver thereof in that or any subsequent instance.  No waiver of any right shall be effective unless in writing signed by the Payee, and no waiver on one or more occasions shall be conclusive as a bar to or waiver of any right on any other occasion.

 

  

  

  

 

Should any part of the indebtedness evidenced hereby be collected by law or through an attorney-at-law, the Payee or any other holder of this Promissory Note shall, if permitted by applicable law, be entitled to collect from the Maker all reasonable costs of collection, including, without limitation, attorneys’ fees.

All notices and other communications must be in writing to the address of the party set forth in the first paragraph hereof and shall be deemed to have been received when delivered personally (which shall include via an overnight courier service) or, if mailed, three (3) business days after having been mailed by registered or certified mail, return receipt requested, postage prepaid. The parties may designate by notice to each other any new address for the purpose of this Promissory Note.

Maker hereby forever waives presentment, demand, presentment for payment, protest, notice of protest, and notice of dishonor of this Promissory Note and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this Promissory Note.

This Promissory Note shall be binding upon the successors and assigns of the Maker, and shall be binding upon, and inure to the benefit of, the successors and assigns of the Payee.

This Promissory Note shall be governed by and construed in accordance with the internal laws of the State of New York.  All disputes between the Maker and the Payee relating in any way to this Promissory Note shall be resolved only by state and federal courts located in New York County, New York, and the courts to which an appeal therefrom may be taken.

 

[The remainder of this page has been intentionally left blank.]

  

  

  

 

IN WITNESS WHEREOF, the undersigned Maker has executed this Promissory Note as of the date first written above.

 

 

	 	MAKER:	 
	 	 	 
	 	DUTCHESS HOLDINGS CORP.	 
	 	 	 
	 	 	 	 
	 	
By: 

	 	 
	 	 	Samir Masri	 
	 	 	President

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