Document:

EX-10.1

 Exhibit 10.1 
 NetSuite Inc. 
 2955 Campus Drive, Suite 100 

San Mateo, CA, 94403—2511 
 April 19, 2013 
 Mr. James Ramsey 

c/o NetSuite Inc. 
 2955 Campus Drive, Suite 100

 San Mateo, CA 94403—2511 
 Re:
Leave of Absence 
 Dear James: 
 This letter will serve to confirm the terms of your unpaid personal leave of absence from NetSuite Inc. (“NetSuite”). 

From April 1, 2013 through April 30, 2013, as we have mutually agreed, you will serve as Advisor to the Chief Operating Officer
(“COO”) performing such duties as the COO shall designate. For the month of April 2013, you will continue to earn your base salary, unchanged from prior periods. You will not be eligible for cash incentive compensation under either the
Executive Incentive Performance Based Compensation Plan or under the Sales Incentive Plan or under any other regular incentive compensation program for your work during the month of April. You will be eligible for performance based incentive
compensation of up to thirty thousand ($30,000) dollars for your work during the month of April 2013, based upon your achievement in April 2013 of objectives established by the COO. 

Commencing at the close of business on April 30, 2013, you will begin a six-month leave of absence. At the end of this six-month
period (unless you terminate your employment with NetSuite prior to the expiration of this leave of absence), we will re-evaluate your employment situation with you and decide how best to proceed, which may include terminating your employment or
further extending the leave of absence. Notwithstanding the foregoing, both you and NetSuite will be permitted to end your leave of absence and terminate your employment at any time for any reason. If during your leave of absence you commence
employment (including starting your own business) or you provide consulting services to any business, your leave of absence will immediately expire and your employment with NetSuite will immediately terminate. You agree that upon commencement of any
such services that you will notify Jim McGeever, the Company’s Chief Operating Officer, in writing, and send a copy to the Company’s Chief People Officer and the Company’s General Counsel. 

With the foregoing in mind, we have approved your leave of absence on the terms and conditions set forth in this letter as follows:

  

	 	•	 	 During your leave of absence, we will suspend the payment of your salary and all other compensation and the provision and accrual of all benefits
(including, but not limited to, paid time off and health and welfare benefits) and you will not be eligible to earn any form of compensation. You will not be eligible for a retroactive grant of personal time off, vacation or holiday compensation,
other compensation, or vesting in equity awards (except as expressly described below) or any other benefit for the period of your personal leave of absence upon your return. 

	 	•	 	 Your medical, dental and vision coverage will continue through April 30, 2013. After your medical, dental or vision coverage terminates, you will
be eligible to continue these benefits if you wish to do so by electing continuation coverage under COBRA. COBRA allows you to remain on the same medical, dental and vision plans you had in place while active on NetSuite payroll but will require
your active and timely election of COBRA coverage and remittance of monthly premium payments from you per the instructions you will be receiving in the COBRA packet from WageWorks, our COBRA administrator. 

 

	 	•	 	 You agree and acknowledge that the Amended and Restated Severance and Change of Control Agreement between you and NetSuite dated effective
August 4, 2009 is hereby terminated and cancelled and you will have no further entitlements to any rights, payments, or benefits thereunder or under any other severance or change of control agreement, policy, arrangement or understanding.

  

	 	•	 	 During your leave of absence and in accordance with and as permitted by standard NetSuite policy, your outstanding stock options or other equity awards
granted under NetSuite’s equity plans will continue vesting during your leave of absence up to a maximum of ninety (90) calendar days. If you return to full-time employment at NetSuite after your leave, the vesting term on your equity
awards, which have not terminated by their terms, will commence vesting again on the date that you return to work full-time. Please note that the vesting schedule will be extended for the period of time during which vesting was suspended such that
the final vesting date on each award will be moved out by the number of days that you were on leave after your awards ceased vesting. The specific terms of your continued vesting during your authorized leave of absence are set forth in, and subject
to, the NetSuite Leave of Absence Equity Award Vesting Policy, which we will provide to you under separate cover. Further, you acknowledge that under the Internal Revenue Code rules governing incentive stock options, if your leave of absence extends
beyond three months, then six months following the first day of your leave of absence, any incentive stock options you hold will convert to nonstatutory stock options. 

You acknowledge and agree that NetSuite has paid to you all salary, wages, bonuses, commissions and any and all other benefits due to you
as of the date of this letter, except for any potential compensation due to you under the Company’s cash performance based incentive compensation program relating to the Q1 2013 performance period and any benefit entitlements vested pursuant to
written terms of any applicable employee benefit plan sponsored by NetSuite. Any such performance compensation for Q1 2013 will only be paid to the extent earned and at the same time related performance compensation are paid to other NetSuite
executives. In addition, you acknowledge and agree that NetSuite has reimbursed you for all company-related expenses that have been incurred to date, except for expenses incurred since January 1, 2013, which will be submitted prior to
May 1, 2013, to the Company for reimbursement. 
 You understand and agree that your employment remains at-will and
NetSuite does not guarantee or make any representation that it will continue to employ you, in your former position of Executive Vice President, Worldwide Sales and Distribution (which position you ceased holding on March 31, 2013) or any other
position or capacity following the expiration of your leave of absence. If at any time you decide that you do not wish to return to NetSuite upon expiration of your leave of absence, please contact Jim McGeever, the Company’s Chief Operating
Officer. 

 Please note that during your leave of absence and thereafter, you will continue to be
subject to the terms and conditions of the Confidentiality and Invention Assignment Agreement executed by you and NetSuite and that any post-employment non-solicitation covenants applicable to you will commence upon the date your employment with
NetSuite actually terminates (and will not commence retroactively to the commencement of your leave of absence or any other date prior to your employment termination). In addition, upon commencement of your leave of absence, you will be required to
return all NetSuite property, including, but not limited to, your access card, keys, laptop computer, pager, mobile phone, badge, company calling card, and all company confidential materials. In addition, as a matter of standard protocol, upon
commencement of your leave of absence your access to your NetSuite e-mail account and NetSuite’s restricted business premises will be discontinued and you will have no authority to discharge contracts, agreements, personnel activities, or to
perform any duties on behalf of, or as a representative or service provider of, NetSuite or any of its affiliates. 
 We request
that you use your best efforts to keep the existence, contents and terms of this letter confidential. Please use every reasonable precaution to prevent disclosure of any information related to this letter, except to those parties who have a
reasonable need to know of this letter. 
 Everyone here wishes you the best and we hope that you are able to return to
NetSuite. 
  

			
	Sincerely,
	
	NETSUITE INC.
		
	By:	 	 /s/ Jim McGeever

		 	 Jim McGeever

  

	
	Acknowledged and Agreed:
	
	 /s/ James Ramsey

	James Ramsey
	
	Date: April 19, 2013exhibit4.htm

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

AGREEMENT dated as of the 1st day of April 2011, by and between Avalon Oil & Gas, Inc. a Nevada corporation, with an address at 7808 Creekridge Circle, Suite 105, Minneapolis, Minnesota 55439 (the "Employer") and Kent Rodriguez, with an address at 7020 Lanham Lane, Edina, Minnesota 55439(the "Employee").

 

WITNESSETH:

 

WHEREAS, the Employee has been employed by the Employer and currently serves as its President and Chief Executive Officer;

 

WHEREAS, the Employer desires to continue to employ and retain the services of the Employee; and

 

WHEREAS, the Employee desires to continue to be employed by the Employer;

 

NOW, THEREFORE, in consideration of the mutual covenants of the parties which are hereinafter set forth and for other good and valuable consideration, receipt of which is hereby acknowledged,

 

IT IS AGREED:

 

1.        Recitals. The parties hereby adopt as part of this Agreement each of the recitals which is set forth above in the WHEREAS clauses, and agree that such recitals shall be binding upon the parties hereto by way of contract and not merely by way of recital or inducement and such WHEREAS clauses are hereby confirmed and ratified as being accurate by each party as to itself and herself.

 

2.        Employment. The Employee shall be employed as President and Chief Executive Officer (the "Position"). The Employee accepts such employment upon the terms and conditions which are hereinafter set forth.

 

  

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3.         Duties. The Employee shall have such authority and duties as are assigned to the Employee by the Board of Directors of the Employer.

 

4.         Term.

 

A.     The term of this Agreement (the "Term") shall commence as of the of April 1, 2011 (the "Commencement Date") and shall continue for two (2) years until March 31, 2013

 

5.         Compensation. The Employer agrees to pay, and the Employee agrees to accept, compensation at a monthly rate of four thousand dollars ($4,000), payable to the Employee.

 

A.      Expenses. The Employer shall, upon presentation of proper receipts or payment vouchers, pay for the Employee for, all reasonable and necessary travel, entertainment and other out-of-pocket business expenses which may be incurred by the Employee in the performance of his duties pursuant to this Agreement. In addition, the Employer shall reimburse the Employee for all reasonable out-of-pocket expenses which may be incurred by the Employee in the performance of his duties pursuant to this Agreement.

 

B.     Benefits. The compensation to the Employee which is provided for pursuant to this Agreement shall be in addition to:

 

C.      Health Insurance. The Employer shall provide health insurance coverage for the Employee.

 

D.      Continuation of Benefits. If the Employee's employment is terminated as a result of Total Disability, health insurance coverage for the Employee as provided for in Paragraph "B" of this Article "6" of this Agreement shall be continued for twenty-four (24) months after the date of the Employee's termination.

 

  

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6.         Employee Covenants.

 

A.     The Employee covenants and agrees that, except as specifically approved by the Board of Directors of the Employer, he shall (i) not be required to devote more than eighty (80%) percent of his working time to the Employer, and (ii) give his best endeavors, energies and skills to the discharge of his duties and obligations pursuant to this Agreement and he shall not, as long as he is in the employ of the Employer, enter into the services of any business, or any other business undertaking, as an employee, agent, partner, associate, joint venture partner, consultant or independent contractor, or in any other manner without the Employer's explicit written consent, provided, however, that notwithstanding the foregoing provisions of this Paragraph "A" of this Article "6" of this Agreement, the Employee shall be permitted to devote his time and energy to Oiltek, Inc.

 

B.      If the Employee is terminated for any reason, with or without cause, all remaining funds under this Agreement due the Employee will be payable immediately.

 

7.        Employer. As used in this Agreement, "Employer" shall mean Avalon Oil & Gas, Inc., its successors and assigns, and any of its present or future subsidiaries or organizations controlled by it or parent and affiliates.

 

8.         Miscellaneous.

 

A.     Headings. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

B.      Enforceability. If any provision which is contained in this Agreement should, for any reason, be held to be invalid or unenforceable in any respect under the laws of any jurisdiction, such invalidity or unenforceability shall not affect any other provision of this Agreement. Instead, this Agreement shall be construed as if such invalid or unenforceable provisions had not been contained herein.

 

  

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C.      Notices. Any notice or other communication required or permitted hereunder must be in writing and sent by either (i) certified mail, postage prepaid, return receipt requested and first class mail, (ii) overnight delivery with confirmation of delivery, or (iii) facsimile transmission with an original mailed by first class mail, postage prepaid, addressed as follows:

 

	If to Employer:	

Avalon Oil & Gas, Inc.

7808 Creekridge Circle, Suite 105

Minneapolis, MN 55439

Facsimile No.: (952) 746-5216

	 	 
	
With a copy to:

	
Mintz & Fraade, P.C.

488 Madison Avenue, Suite 1100

New York, NY 10022

Attention: Frederick M. Mintz

Facsimile No.: (212) 486-0701

	 	 
	
If to Employee:

	
Kent Rodriguez

7020 Lanham Lane

Edina, MN 55439

	 	 
	

With a copy to:

 

	
Mintz & Fraade, P.C.

488 Madison Avenue, Suite 1100 

New York, NY 10022

Attention: Frederick M. Mintz

Facsimile No.: (212) 486-0701

 

or in each case to such other address and facsimile number as shall have last been furnished by like notice. If all of the methods of notice set forth in this Paragraph "C" of this Article "21" of this Agreement are impossible for any reason, notice shall be in writing and personally delivered to the aforesaid addresses. Each notice or communication shall be deemed to have been given as of the date so mailed or delivered as the case may be; provided, however, that any notice sent by facsimile with confirmed receipt of successful transmission to the recipient shall be deemed to have been given as of the date so sent if a copy thereof is also mailed by first class mail on the date sent by facsimile. If the date of mailing is not the same as the date of sending by facsimile, then the date of mailing by first class mail shall be deemed to be the date upon which notice is given; provided further, however, that any notice sent by overnight delivery shall be deemed to

have been given as of the date of delivery.

 

  

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D.      Governing Law: Dispute. This Agreement shall in accordance with Section 36.1-301 of the Minnesota Statutes in all respects be construed, governed, applied and enforced under the internal laws of the State of Minnesota without giving effect to the principles of conflicts of laws and be deemed to be an agreement entered into in the State of Minnesota and made pursuant to the laws of the State of Minnesota. .

 

E.       Entire Agreement. The parties have not made any representations, warranties or covenants with respect to the subject matter hereof which is not set forth herein, and this Agreement constitutes the entire agreement between them with respect to the subject matter hereof. All understandings and agreements heretofore had between the parties with respect to the subject matter hereof are merged in this Agreement which alone fully and completely expresses their agreement.

 

IN WITNESS WHEREOF, the parties to this Agreement have set their hands and seals or caused these presents to be signed effective as of the day and year first above written.

 

	 	
Avalon Oil & Gas, Inc.

	 	 
	 	
By:

	/s/ Kent Rodriguez
	 	 	
Name: Kent Rodriguez

	 	 	
Title: CEO

	 	 	 
	 	 	/s/ Kent Rodriguez
	 	 	Kent Rodriguez

 

 

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