Document:

Ex. 10.1 - Second Amendment to Employment Agreement

Exhibit 10.1
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment to Employment Agreement (the “Amendment”) is entered into as of March 10, 2015, by and between Equity One, Inc. (the “Company”), a Maryland corporation, and Mark Langer (the “Executive”).
WHEREAS, the parties have entered into an Employment Agreement dated as of January 11, 2011 and effective as of February 1, 2011, as amended by that certain First Amendment to Employment Agreement dated April 4, 2014 (as amended, the “Agreement”), for the purposes of setting forth the terms and conditions of the employment relationship between Executive and the Company;
WHEREAS, Executive has been serving as the Executive Vice President and Chief Financial Officer of the Company;
WHEREAS, on October 29, 2014 Executive provided written notice to the Company that he does not intend to renew his employment with the Company at the end of the Agreement’s term on June 30, 2015; and
WHERAS, the Company and Executive desire to amend certain terms of the Agreement with respect to the termination of Executive’s employment with the Company.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive each hereby agrees to amend the Agreement as follows:
1.Definitions.  All capitalized terms in this Amendment not otherwise defined herein have the meanings defined in the Agreement.
2.Term.  Section 2 of the Agreement is hereby amended to read in its entirety:
The period of employment of Executive by the Company hereunder (the “Employment Period”) shall commence on the Effective Date and shall continue through April 10, 2015 or such earlier date on or as of which this Agreement or Executive’s employment hereunder is terminated in accordance with the terms hereof. Subject to this Agreement or Executive’s employment hereunder being terminated in accordance with the terms hereof or prior to April 10, 2015, this Agreement and the Employment Period automatically shall terminate on April 10, 2015.  As used herein, “End of Term Date” means April 10, 2015.
3.Compensation and Related Matters.  Section 5(b)(i)(B) of the Agreement is hereby amended to read in its entirety:
(B)The Compensation Committee shall review Executive’s performance with the Chief Executive Officer for the period commencing on January 1, 2015 and ending on April 10, 2015 and cause the Company to award Executive a Bonus in such amount as the Compensation Committee shall reasonably determine as fairly compensating and rewarding Executive for services rendered to the Company during that period, provided, however, that in no event shall Executive’s Bonus for such period be less than an amount equal to one hundred percent (100%) of the Base Salary of Executive for such calendar year multiplied by a fraction, the numerator of which is the number of days that Executive was employed in calendar year 2015, and the denominator of which shall be 365. Any Bonus payable to Executive as contemplated by this Section 5(b)(i)(B) shall be payable 100% in cash, and shall be paid to Executive on or before May 11, 2015.

4.Compensation and Related Matters.  Section 5(b)(ii) of the Agreement is hereby amended to read in its entirety:
Subject to Section 8(b)(ii) below, no Bonus shall be payable hereunder to Executive with respect to calendar year 2014 unless Executive is employed hereunder by the Company as of the last day of such calendar year. Subject to Section 8(b)(ii) below, no Bonus shall be payable hereunder to Executive with respect to calendar year 2015 unless Executive is employed hereunder by the Company as of April 10, 2015.
		
	5.
	Compensation and Related Matters.  Section 5(j) of the Agreement is hereby amended to read in its entirety:

Retention Bonus.  In addition to the foregoing, and subject to Executive being employed by the Company through the Employment Period and satisfaction by the Executive of the Qualifying Conditions, the Company shall award Executive a retention bonus (“Retention Bonus”) in the amount of $334,000, payable 100% in a lump sum cash payment on the End of Term Date, provided, however, in the event that Executive’s employment is terminated prior to the end of the Employment Term for any reason other than a Termination by the Company for Cause or a Termination by Executive Other Than for Good Reason, the Company shall pay Executive the Retention Bonus in a lump sum cash payment no later than 30 days after the Date of Termination, notwithstanding the fact that Executive was not employed through the Employment Period.
6.Representations and Warranties.  The Company represents and warrants that (i) the execution, delivery and performance of this Amendment by the Company has been fully and validly authorized by all necessary corporate action, (ii) the officer signing this Amendment on behalf of the Company is duly authorized to do so, (iii) the execution, delivery and performance of this Amendment does not violate any applicable law, regulation, order, judgment or decree or any agreement, plan or corporate governance document to which the Company is a party or by which it is bound, and (iv) upon execution and delivery of this Amendment by the parties, it shall be a valid and binding obligation of the Company enforceable against it in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.
7.Effect on Agreement.  Except as set forth in this Amendment, the Agreement shall remain in full force and effect and references in the Agreement to “this Agreement,” “hereunder,” “herein,” “hereto,” and words of like effect shall mean the Agreement as amended by this Amendment.  In the event any term in this Amendment conflicts with any term(s) of the Agreement, this Amendment shall govern.
8.Governing Law.  The validity, interpretation, construction and performance of this Amendment shall be governed by the laws of the State of Florida without regard to its conflicts of law principles.
9.Counterparts.  This Agreement may be executed in any number of counterparts (including facsimile and PDF counterparts), each of which shall be an original, but all of which together shall constitute one instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date and year first above written.
EQUITY ONE, INC.
/s/ David Lukes                                                        
Name: David Lukes
Title: Chief Executive Officer
EXECUTIVE
/s/ Mark Langer                                                        
MARK LANGERExhibit
4.30

    

    This
document constitutes part of a prospectus covering securities that have been
registered under the Securities Act of 1933.

    

    Nonqualified
Stock Option Contract

    

    THIS NONQUALIFIED STOCK OPTION
CONTRACT is entered into effective as of the 31st day of December, 2009,
by and between INTER PARFUMS,
INC., a Delaware corporation (the “Company”) and ___________
(“Option Holder”).

    

    WITNESSETH:

    

    1.           The
Company, in accordance with the resolutions adopted by the Company’s Executive
Compensation and Stock Option Committee (the “Committee”), and the terms and
subject to the conditions of the Company’s 2004 Stock Option Plan (the “2004
Plan”), hereby grants to the Option Holder as of December 31, 2009, a
nonqualified stock option to purchase an aggregate of _______ shares (the “Shares”) of
the common stock, $.001 par value per share, of the Company (the “Common
Stock”), at the exercise price of $12.14 per share.

    

    2.           Subject
to earlier termination as provided in the 2004 Plan, the term of this option
shall be six (6) years from the date hereof; provided that, such option
shall vest and become exercisable to purchase shares of Common Stock as follows:
20% one year after the date of grant, and then 20% on each of the second, third,
fourth and fifth consecutive years from the date of grant on a cumulative basis,
so that each option shall become fully vested and exercisable on the fifth year
from the date of grant.

    

    3.           (a)           Subject
to the provisions contained in Section 2 hereof, this option may be exercised
from time to time in whole or in part prior to the end of the term of the option
(but not with respect to less than 100 Shares (unless less than 100 Shares
remain to be purchased, then such amount remaining), or fractional Shares), by
giving written notice to the Company at its principal office, presently 551
Fifth Avenue, New York, New York 10176, stating that the Option Holder is
exercising this option, specifying the number of Shares purchased and
accompanied by payment in full of the aggregate purchase price therefor (i) in
cash or certified check or (ii) with previously acquired shares of Common Stock
or a combination of the foregoing if permitted in the sole discretion of the
Company’s Executive Compensation and Stock Option Committee (the
“Committee”).

    

    (b)         In
addition, upon the exercise of this option, the Company may withhold cash and/or
Shares to be issued with respect thereto, having an aggregate fair market value
equal to the amount which it determines is necessary to satisfy its obligation
to withhold federal, state and local income taxes or other taxes incurred by
reason of such exercise. Alternatively, the Company may require the holder to
pay to the Company such amount, in cash, promptly upon demand. The Company shall
not be required to issue any Shares pursuant to this option until all required
payments have been made.

    

    4.           This
option is not transferable otherwise than by will or the laws of descent and
distribution and may be exercised, during the lifetime of the Option Holder,
only by the Option Holder or his legal representatives.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.           Nothing
in the 2004 Plan or herein shall confer upon the Option Holder any right to
continue in the employ of, or be associated with, the Company, its Parent or any
of its Subsidiaries, or interfere in any way with the right to employment or
association of the Option Holder with the Company, its Parent or any of its
Subsidiaries.

    

    6.           The
Option Holder understands that the Shares have been registered for issuance to
the Option Holder in Registration Statement No. 333-136988 under the Securities
Act of 1933, as amended (the “Act”). Resale to the public by the Option Holder
is to be made under Rule 144 under the Act in accordance with the procedure for
resale of “affiliate shares” in the absence of a subsequent effective
registration statement for the resale of the Shares. Notwithstanding
registration under the Act, the Option Holder understands that in accordance
with the provisions of the Company’s Code of Business Conduct, (i) the Option
Holder must obtain permission from the Company’s Chief Financial Officer prior
to any sale of the Shares; and (ii) the use of material non-public information
in connection with the sale of the Company’s shares (“Insider Trading”) or the
communication of such information to others who use it in trading the Company’s
shares (“Tipping”) is strictly prohibited.

    

    7.           (a)           The
Option Holder understands that the Company maintains its internet website at
www.interparfumsinc.com
which is linked to the SEC Edgar database. The Option Holder can obtain through
the Company’s website, free of charge, its annual reports on Form 10-K,
quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to
those reports filed or furnished pursuant to Section 13(a) or 15(d) of the
Exchange as soon as reasonably practicable after the Company has electronically
filed with or furnished them to the SEC.

    

     
(b)           In
addition, the Company will cause to be delivered to the Option Holder, upon
request to the Company directed to either the Chief Financial Officer or the
Controller, without charge to the Option Holder, a copy of the documents
incorporated by reference into the Registration Statement, other than exhibits
(unless such exhibits are specifically incorporated by reference into the
Registration Statement).

    

    8.           Notwithstanding
anything to the contrary, if at any time the Chief Executive Officer, Board of
Directors of the Company or the Committee shall determine it its discretion that
the listing or qualification of the Shares on any securities exchange, with
national securities association or under any applicable law, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a
condition of, or in connection with, the granting of an option, or the issue of
Shares thereunder, or the sale of the Shares, then this option may not be
exercised in whole or in part unless such listing, qualification, consent or
approval shall have been effected or obtained free of any conditions not
acceptable to the Chief Executive Officer, Board of Directors or the
Committee.

    

    9.           (a)           The
Company and the Option Holder further agree that they will both be subject to
and bound by all of the terms and conditions of the 2004 Plan, which is
incorporated by reference herein and made a part hereof as if fully set forth
herein.

    

    
      
        
        

      

      
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    (b)         In
the event the Option Holder's employment by, or association with, the Company,
its Parent or any of its Subsidiaries terminates, or in the event of the death
or disability of the Option Holder, the rights hereunder shall be governed by,
and made subject to, the provisions of the 2004 Plan.

    

    (c)         In
the event of a conflict between the terms of this Contract and the terms of the
2004 Plan, then in such event, the terms of 2004 Plan shall govern.

    

    (d)         Except
as otherwise provided herein, all capitalized terms used herein shall have the
same meaning ascribed to them in the 2004 Plan.

    

    (e)         The
Option Holder agrees that the Company may amend the 2004 Plan and the options
granted to the Option Holder under the 2004 Plan, subject to the limitations
contained in the 2004 Plan.

    

    10.         This
Contract shall be binding upon and inure to the benefit of any successor or
assign of the Company and to any executor, administrator or legal representative
entitled by law to the Option Holder's right hereunder.

    

    11.         This
Contract shall be governed by and construed in accordance with the laws of the
State of New York, without regard to the principles of conflicts of
laws.

    

    IN WITNESS WHEREOF, the
parties hereto have entered into this Contract effective as of the date first
above written.

     

    
      
        
          
            	
                    INTER
      PARFUMS, INC.

                  
	 
      	 
      
	
                    By:

                  	 
      
	 
      	
                    [Name
      and Title]

                  
	 
      	 
      
	 
	                                                           

          

        

      

    

    

    Schedule
of Executive Officers and Number of Shares Underlying Option

    

    
      
        
          	
                  Executive Officer

                	
                  Number of Shares

                
	 
      	 
      
	
                  Jean
      Madar

                	
                  19,000

                
	
                  Philippe
      Benacin

                	
                  19,000

                
	
                  Russell
      Greenberg

                	
                  25,000

                
	
                  Henry
      B. (“Andy”) Clarke

                	
                  7,500

                

        

      

    

     

    
      
         

      

      
        3

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