Document:

EX-10.11

 Exhibit 10.11 
  

 
 

 
  
 May 2, 1997 

Mr. James P. Schmitt 
 107 W. Trenton Avenue 

Morrisville, PA     19067 
 Dear Jim:

 On behalf of Volt Delta Resources, Inc., I am pleased to confirm our verbal offer of employment. This letter will set forth our offer
of employment which, when accepted by you, will constitute the terms of your Employment Agreement (the “Agreement”) with Volt Delta Resources, Inc. (the “Company”). 

1.        TERM OF EMPLOYMENT.      The Company will employ you and you
agree to enter our employment for a minimum of two (2) years commencing June 30, 1997 and continuing thereafter for an indefinite period, subject to termination at any time after the initial two (2) year term by either you or the Company
for any reason, with or without cause. For purposes of this Agreement, the period during which you work for the Company will be called the “Term of Employment”. 
 2.        SCOPE OF EMPLOYMENT.    During the Term of Employment, your title will be Vice President and you will be responsible for the domestic
Information Systems business for the Company, reporting to me or in such other position for the Company or an affiliate of the Company as the Company may designate. Your base of operation will be Blue Bell, PA with the understanding that you will be
required to travel to meet the needs of the business. You agree to devote your full time services to the best of your ability, using your best efforts, to promote the interests and the business of the Company. The Company may change your title,
duties, location or work and/or responsibilities at any time, except that the Company will increase your compensation and provide reasonable relocation expenses should your base of operation be changed to Orange, CA. You agree not to engage in any
type of activity which is or may be contrary to the welfare, interests, business or benefit of the Company or the business conducted by the Company now or in the future. 
 3.        NO LIMITATIONS ON YOUR ACTIVITIES.    You represent and warrant that there are no written or oral contracts or any other impediment which
would inhibit or prohibit the employment herein provided for, and that you will not utilize and trade secret, confidential 
 1 

A Subsidiary of Volt Information Sciences, Inc. 
 1221 Avenue of the Americas
Ÿ New York Ÿ New York 10020 Ÿ Tel 212 827 2600
Ÿ Fax 212
944 1639 

 
information, or other intellectual property right of another party in the performance of your duties hereunder. 
 4.        COVENANT NOT TO SOLICIT/COMPETE.    You acknowledge that the Company has made and will continue to make significant investments in order
to maintain and develop its business, and that in order to enable you to do your job better, the Company will disclose to you confidential information concerning its techniques and methods of obtaining and servicing its customers and pricing
information, and specific needs of its customers, and that the Company will extend to you the opportunity to develop personal contacts with its present and potential customers. You further acknowledge that the methods employed in the Company’s
business as such that place you in close business and personal contact with the Company’s customers. Accordingly, you agree as follows: 
 (a)        During the Term of Employment, you will not directly or indirectly engage in a business which competes with the Company, or any of its parents, or its or their
subsidiaries or affiliate in any way. 
 (b)        In those states which will
enforce covenants not to compete, for a period of six (6) months after the Term of Employment ends (regardless of the reason that your employment terminates) you will not, directly or indirectly, either for yourself or for any other person,
firm, company, or corporation, engage in a business similar to the type of business conducted by the Company, nor compete with the Company, within a radius of fifty (50) miles from the last Company office at which you were employed. 

(c)        For a period of twelve (12) months after the Term of Employment ends (and
regardless of the reason that your employment terminates), you will not, directly or indirectly, either for yourself or for any other person, firm, company or corporation; 

(1)        Call upon, solicit, divert, or take away or attempt to solicit, divert or take
away any of the customers, business or patrons of the Company with which the last Company office at which you were employed is doing or has done business; or 
 (2)        Call upon, solicit or attempt to solicit business from any person, firm, company or corporation which has communicated with or has been solicited by the last
Company office at which you were employed, to become a customer during the period of eighteen (18) months prior to the termination of the Term of Employment; or 

(3)        Hire or employ any employee of the Company, nor advise, solicit or encourage
any employees of the Company to leave its employ. 
 (d)        In addition, you
agree that you will not at any time during or after the termination of this Agreement, engage in any business which uses its name, in whole or in part, the name “Maintech” or any other name used by the Company during the Term of
Employment. 

  
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 (e)        For purposes of Paragraphs 3(a),
3(b), 3(c) and 3(d), you will be deemed to be engaged in a business if you participate in such business as proprietor, partner, joint venture, stockholder, director, officer, lender, manager, employee, consultant, advisor or agent, or if in any way
you control such business. However, you will not be deemed a stockholder or lender if you hold less than five percent (5%) of the outstanding equity or debt of any publicly-owned corporation engaged in the same or similar business as that of
the Company or any of its subsidiaries or affiliates, provided you are not in a control position with respect to such corporation. 

5.        DISCLOSURE.   You agree that at no time will you use for your own benefit nor
directly or indirectly make known or divulge to any other person, firm or corporation: 

(a)        The names and addresses of any of the customers or patrons of the Company at
the time you entered the employ of the Company or with whom you became acquainted during the Term of Employment (whether such customers or patrons have been obtained by you or otherwise); or 

(b)        Any information concerning the Company’s methods of conducting business,
obtaining customers, or operations; or 
 (c)        The names, addresses,
telephone numbers or compensation or rate of pay of employees of the Company; or 

(d)        Any other confidential information or trade secrets of the Company or any of
the Company’s customers learned or acquired by you during your Term of Employment. 

6.        INVENTIONS.    As between you and the Company, all discoveries, ideas,
creations, inventions and properties (collectively called “Discoveries”) written or oral which are: 

(a)        created, developed, invented or used by you during your Term of Employment,
whether or not created, conceived, discovered and/or developed by you during regular working hours; or which are 

(b)        created, developed, invented, or used by the Company, whether or not in
connection with your employment by the Company 
 will be the sole and absolute property of the Company for any and all purposes
whatsoever, in perpetuity. You will not have, and will not claim to have, any right, title or interest of any kind of nature whatsoever in or to any such Discoveries. 

   The previous paragraph dose not apply to any invention to which no equipment, supplies, facility or trade secret
information of the Company or any customer was used and which was developed entirely on your own time, and 

(a)        which does not relate to the business of the Company or to the Company’s
or a customer’s actual or demonstrably anticipated research or development; or 

  
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 (b)        which does not result from any
work performed for the Company or its customers. 
 You further agree that during the Term of Employment, all inventions
being developed by you shall be identified to the Company. Upon request by the Company, you will disclose any such invention to the Company (by a full and clear description) for the purpose of determining the Company’s rights therein.

 7.        RETURN OF PROPERTY.    The original and all copies of all
software, files, records, drawings, specifications and other documents of any nature whatsoever, whether prepared by you or otherwise coming into your possession while employed by the Company, are and shall remain the exclusive property of the
Company and may not be used except as required in the course of employment by the Company. On termination of your employment, and regardless of the reason for termination, you will immediately return to the Company any and all Company property and
all other material which you were given or had access to during the Term of Employment. 

8.        AGREEMENT TO ARBITRATE DISPUTES.    Any dispute, controversy or
claim arising out of, involving, affecting or related in any way to this agreement, or a breach of this agreement, or arising out of, involving, affecting or related in any way to your employment or the conditions of your employment or the
termination of your employment, including but not limited to disputes, controversies or claims arising out of or related to the actions of the Company’s other employees, under Federal, State and/or local laws, shall be resolved by final and
binding arbitration, in accordance with the applicable rules of the American Arbitration Association in the state where you are or were last employed by the Company. The arbitrator shall be entitled to award reasonable attorneys fees and costs to
the prevailing party. The award shall be in writing, signed by the arbitrator, and shall provide reasons for the award. Judgment upon the arbitrator’s award may be filed in and enforced by any court having Jurisdiction. This Agreement to
Arbitrate Disputes does not prevent you from filing a charge or claim with any governmental administrative agency as permitted by applicable law. 
 9.        WAIVER OF JURY TRIAL.    We each hereby agree to waive our respective right to trial by Jury in any lawsuit or cause of action between
you and the Company and/or the Company’s other employees. 
 10.        FURTHER
INSTRUMENTS.    You will execute and deliver all such other further instruments and documents as may be necessary, in the opinion of the Company, to carry out the purposes of this Agreement or to confirm, assign or convey to
the Company the discoveries, ideas, inventions or properties referred to in Paragraph 5 hereof, including the execution of all patent, copyright, trademark or trade name applications and assignments. 

11.        WAIVER OF BREACH.    Waiver by either party of a breach of any
provision of this Agreement by the other shall not operate or be construed as a waiver of any subsequent breach by such other party. 

12.        NOT A CONTRACT FOR CONTINUED EMPLOYMENT.    The parties understand
and agree that nothing contained in the Agreement is intended to constitute a contract of 

  
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continued employment beyond the initial two (2) year term. Thereafter, either party may cancel or terminate your employment at any time, for any reason, with or without cause. Any amendment,
modification or variation in terms of this paragraph must be in writing and signed on behalf of the Company by its President; no other officer or employee is authorized to amend, modify or vary this paragraph. 

13.        COMPENSATION.    Salary at the rate of $6,230.77 bi-weekly, which is
an annual equivalent of $162,000. Also, you will be eligible to receive a monthly car allowance of $750.00 which is taxable income. Volt extends to senior management stock options on a regular basis, and you will be included in the periodic
distribution of such options. Upon employment you will be granted stock options to purchase 2,000 shares of Volt stock at the price in effect as of your first day of employment. 

As an eligible employee of the Company, you may participate in the Company’s benefit program which currently includes life,
accident, medical and dental insurance for you and any eligible dependents, along with provisions for long term disability coverage. In addition, there is a 401(k) savings plan, and a tuition reimbursement program. You will also participate in
the management incentive plan in effect for the Volt Delta organization. The Company reserves the absolute right to change its benefits program at any time in its sole and absolute discretion. 

14.        IMMIGRATION.    You must be prepared to produce proof of identity and
eligibility to legally work in the United States as per the Immigration Reform and Control Act of 1986. 

15.        ENTIRE AGREEMENT.    This instrument contains the entire agreement of
the parties as to the subject matter hereof. This Agreement may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought.

 If you agree with the forgoing, please signify your acceptance by signing your name below and return the original to me when you report
to work. The enclosed copy is for your records. If you have any questions, please call me. I am sure you will find your position with Volt Delta Resources a challenging opportunity and I wish you the very best. 

 

					
	Very truly yours,	  	Read and Agreed to:
		
	VOLT DELTA RESOURCES, INC.	  	
			
	By:	  	 /s/ Joseph DiAngelo
	  	 /s/ James P. Schmitt

		  	Joseph DiAngelo	  	Name
		  	President	  	  
 6/1/97

		  		  	Date

  
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 AMENDMENT TO EMPLOYMENT AGREEMENT 

This Amendment (“Amendment”) further amends and modifies James Schmitt’s (“Employee”) Employment Agreement
(hereinafter the “Agreement”) with Volt Delta Resources, LLC (hereinafter collectively the “Company”) as previously amended, and the parties agree as follows: 

Effective for payroll week ending May 10, 2009 (“Effective Date”) Employee’s salary and/or hourly wage pay rate
identified on Employee’s weekly payroll remittance for the payroll week ending May 3, 2009 (hereinafter called “Employee’s Prior Pay Rate”), will be reduced by 4.4%. Employee’s new base annual salary will be two hundred
eight six thousand eight hundred ($286,800). Employee agrees that any and all employment work performed by Employee for the Company after the Effective Date will be compensated at a rate that is 4.4% less than Employee’s Prior Pay Rate.

 All other terms and conditions of your Agreement as previously amended shall remain in full force and effect. 

Employee hereby agrees to this Amendment to the Agreement to be effective as set forth above. 

 

					
	Volt Delta Resources, LLC
			
	By:	 	 /s/ Steven Shaw
	 	-, [title]

					
			
	Employee:	 	 /s/ James P. Schmitt
	 	
	
	  

		 	Signature	 	
			
	Date:	 	5/1/2009EX-10.12

 Exhibit 10.12 

 
 

 
 AMENDMENT OF EMPLOYMENT AGREEMENT 

This Amendment (“Amendment”) shall be effective commencing on the date of January 1, 2009
upon execution of this Amendment, and shall modify and change the Employment Agreement dated May 2, 1997 including all Addendum(s), as well as any and all amendments, subsequent letter agreements, e-mail communications and memorandums of
understandings with regard to employment terms, conditions and compensation (hereinafter collectively called the “Agreement”) between James P. Schmitt (“Employee”) and Volt Delta Resources, LLC
(hereinafter called the “Company”). Whereas, Employee acknowledges and agrees that Employee is and at all times has been employed pursuant to the terms and conditions of the Agreement, and for good and valuable consideration
acknowledged herein, the parties hereby further agree as follows: 
 Paragraph 1, TERM OF EMPLOYMENT is deleted in its entirety and
replaced with the following: 
 TERM OF EMPLOYMENT – The Company will continue to employ you and you agree to continue your
employment with the Company for a period of two (2) years through December 31, 2010, and continuing thereafter for an indefinite period, subject to termination at any time after December 31, 2010, by either you or the Company for any
reason, with or without cause by giving to the other party three months prior written notice. In addition, upon notice to the Employee, the Company reserves the right to extend the Term of Employment for an additional year after December 31,
2010, in which case the right of termination as provided for in the prior sentence shall be after December 31, 2011. For purposes of this Agreement, the period during which you work for the Company will be called the “Term of
Employment”. 
 Notwithstanding the foregoing, your employment may be terminated without notice for “Cause”. For purposes of this
Employment Agreement only, “Cause” shall mean (i) embezzlement by the Employee, (ii) misappropriation by the Employee of funds of the Company, (iii) conviction of a felony, (iv) commission of any other act of dishonesty
which causes material economic harm to the Company, ( v) acts of fraud or deceit by the Employee which causes material economic harm to the Company, (vi) material breach of any provision of the Employment Agreement by the Employee,
(vii) willful failure by the Employee to substantially perform such Employee’s duties hereunder, (viii) willful breach of fiduciary duty by the Employee to the Company involving personal profit or (ix) significant violation of
Company policy of which the Employee is made aware (or such Employee should reasonably be expected to be aware) or other contractual, statutory or common law duties to the Company. No act, or failure to act on the part of the Employee, shall be
deemed willful unless 

 
it is done, or omitted to be done, by the Employee in bad faith or without reasonable belief that the Employee’s action or omission was in the best interests of the Company. 

The parties understand and agree that your employment with the Company is “at-will” and nothing contained in this Agreement is intended to
constitute a contract of continued employment except as set forth in this paragraph 1. 
 For purposes of this Agreement, the period during
which you work for the Company will be called the “Term of Employment”. 
 Paragraph 2, SCOPE OF EMPLOYMENT of the Agreement is
deleted in its entirety and replaced with the following: 
 During the Term of Employment after January 1, 2009, your title will be
President and you will be responsible for Volt Delta Resources, LLC business, reporting to me. Your base of operation will be Blue Bell, PA and/or Florida with the understanding that you will be required to travel to meet the needs of the business.
You agree to devote your full time services to the best of your ability, using your best efforts, to promote the interests and the business of the Company. The Company may change your title, duties, or work and/or responsibilities at any time. You
agree not to engage in any type of activity which is or may be contrary to the welfare, interests, business or benefit of the Company or the business conducted by the Company now or in the future. 

Paragraph 13, COMPENSATION of the Agreement is deleted in its entirety and replaced with the following: 

 

	 	(a)	 In consideration for all services to be performed by Employee pursuant to this Agreement, and provided that Employee has acted in accordance and
continues to act in accordance with the provisions of this Agreement, the Company will pay Employee a yearly salary commencing January 1, 2009 of Three hundred thousand dollars ($300,000.00), which will be paid weekly during
Employee’s Term of Employment, at an annual equivalent of approximately $5,769.23 gross per week (minus the deductions allowed by law), plus increases, if any, at the Company’s sole discretion. This compensation may be altered and
revised by the Company in an amount not less than the current compensation contained in this Agreement without affecting the remainder of the covenants herein, all of which shall remain in full force and effect. 

 

	 	(b)	If the parent Company, Volt Information Sciences, Inc. (Volt) makes restricted stock and/or options available to its employees, the Employee will be recommended to
receive an amount of shares, consistent with the average number of shares granted to other executive employees of the Company. 

 In the event the Company should issue Company stock to employees, you shall be considered eligible to participate. 

  
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	 	(c)	Disability/Death 

 If Employee
shall become disabled during the Term of Employment, then this Agreement shall be deemed to continue and Employee shall continue to receive the compensation specified in Subparagraph 3(a) through December 31, 2010. Employee shall be required to
notify Company on a monthly basis that he remains alive. 
 If Employee shall die during the Term of Employment and his spouse
survives him, then this Agreement shall be deemed to continue and Employee’s estate shall continue to receive the compensation specified in Subparagraph 3(a) through the earlier of December 31, 2010, or until the death of Employee’s
spouse. Employee’s spouse shall be required to notify Company on a monthly basis that she remains alive. 
  

	 	(d)	INCENTIVES - Employee is eligible to receive incentive compensation, if any, pursuant to the Company’s then current Incentive Plan, in effect at the time for
Employee’s position, (hereinafter the “Incentive Plan”), set forth below. 

 Employee shall
be entitled to be paid quarterly incentives effective with Company’s fiscal year commencing the second quarter of fiscal year 2009, and each fiscal year thereafter. The Company will pay to Employee quarterly incentive payments that over a full
year result in a cumulative annual incentive in the amount of two and a quarter percent (2.25%) of Volt Delta Resources, LLC’s annual pretax income where Volt Delta Resources, LLC’s income includes the combined pretax income of the
four business units of Volt Delta, Maintech, LSSiData and Volt Delta International. Such profit calculations will (i) include Volt Delta Resources, LLC G&A, but exclude Volt Corporate G&A, (ii) exclude any loss or gain on the sale of
assets, (iii) include interest expense, (iv) will be made in accordance with generally accepted accounting principles (formula below). 
 For the first year of Employee’s Term of Employment and if the Company is able to meet the financial covenants of its loan without assistance from the parent Company by decreasing the debt in the
amount of $2.5 million per quarter on a cumulative basis, beginning with the second quarter of 2009, then the quarterly incentive will be adjusted to 3.0% of Net Income (formula below). 

For the second year of Employee’s Term of Employment and if the Company is able to meet the financial covenants of its loan without
assistance from the parent Company by decreasing the debt in the amount of $2.5 million per quarter on a cumulative basis, beginning with the first quarter of 2010, then the quarterly incentive will be adjusted to 2.75% of Net Income (formula
below). 

  
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 At the end of the fiscal year 2009, the Company will conduct a review and if the Company
decreased the loan debt by seven million five hundred dollars from the end of the first quarter to the end of the fourth quarter of the Company’s fiscal year of the Employee’s first Term of Employment and is employed by the Company at the
time of review, the Employee will receive the difference from the actual incentive payment received each quarter and the sum of the incentive payment the Employee would have received at 3.0%. At the end of the Employee’s second Term of
Employment, the Company will conduct a review and if the Company decreased the loan debt by ten million dollars for the next fiscal year and is employed by the Company at the time of review, the Employee will receive the difference from the actual
incentive payment received each quarter and the sum of the incentive payment the Employee would have received at 2.75%. 
 For
subsequent years, the annual incentive will be 2.25% of Net Income. 
 Net Income for the purposes of this section is
calculated pursuant to the following Incentive Plan formula and excludes any loss or gain on the sale of assets: 
 [Total
Sales for each and every business unit {minus} Total Direct Costs = Gross Margin {minus} Overhead Costs {minus} Local General and Administrative Expenses {minus} Company’s interest expense {plus} interest income {plus}/{minus} foreign exchange
gains (losses) = Net Income [then add Net Incomes (including any losses) for all business units {multiply} .0225 (or 2.25%) = Incentives 
  

	(d)	INCENTIVE PLAN CONDITIONS 

  

	(i)	Incentives are a form of additional compensation payable only during Employee’s Term of Employment by the Company and are conditioned on Employee actually
performing services for the Company. Incentives shall be accrued and paid to Employee quarterly. Incentive payments will cease as of the final quarter of employment termination and will be paid to Employee only through the last full fiscal quarter
actually worked by Employee prior to Employee’s employment termination from the Company. Incentive payments for the first three fiscal quarters of the Company’s fiscal year shall be paid to Employee approximately forty-five (45) days
but no longer than sixty (60) days following the close of the fiscal quarter and for the fourth quarter an estimated ninety (90) days after the close of the fiscal year. 

 

	(ii)	The administration of the Plan, including all interpretations thereof, are the responsibility of the Chief Financial Officer of the parent corporation Volt Information
Sciences, Inc. (“VIS”), subject to the final approval of the Chief Executive Officer of the parent corporation, which shall be final and binding on the parties hereto. 

  
 Page 4 of 6

	(iii)	The Company’s financial data is calculated in accordance with generally accepted accounting principles and the Plan(s) is/are computed consistent with the
Company’s standard accounting methods and procedures. 

  

	(iv)	The Company may modify, alter, replace, change or amend the Plan, from time to time, at the Company’s sole discretion, on fifteen (15) days prior written
notice to Employee. 

  

	(v)	Any dispute as to sales allocations or assessment of costs for purposes of Incentives/Bonuses shall be brought to the attention of the Chief Financial Officer of VIS
for resolution and shall be decided by the Chief Executive Office of VIS, whose decision shall be final and binding. 

  

	(vi)	The Company does not authorize anyone to make an oral promise or oral agreement as to Incentives or Bonuses and no employee may rely on any oral agreement or
representation by anyone as to their Incentives/Bonus compensation. Employee’s compensation may only be altered and revised in writing by the Company, signed by the Chief Executive Officer, without affecting the remainder of the Agreement
and/or Amendment covenants, all of which shall remain in full force and effect. 

  

	(vii)	It shall be Employee’s responsibility to review the Company’s accounting reports with respect to Incentives/Bonus. Should Employee dispute the
Incentives/Bonus, (for example, customer sales are omitted or included or Employee disagrees with the assessment of costs or for any other reason, including any dispute between employees, branches, regions or divisions) (hereinafter called
“Employee’s Dispute”), Employee must notify the Chief Financial Officer of VIS, in writing, of Employee’s Dispute within no more than one hundred twenty (120) days following the close of the fiscal period in issue, which
must include the specifics of Employee’s Dispute related to Incentives/Bonus. Employee’s entitlement to disputed or unpaid Incentives/Bonus is expressly conditioned upon Employee’s compliance with the terms of this paragraph. The
Company’s decision as to Employee’s Dispute shall be final and binding. 

  

 

	 	(e)	If Employee remains in the employ of the Company after the effective date of any alteration, revision or change in Employee’s compensation, including but not
limited to modifications to the Incentive Plans, Employee shall conclusively be deemed to have accepted and agreed to such modified terms and conditions for Employee’s employment compensation. All other terms and conditions of the Agreement and
this Amendment shall remain in full force and effect. 

  

	 	(f)	 Employee will receive such other benefits regularly provided to similarly situated employees of the Company, commensurate with Employee’s
position, pursuant to standard Company policy, which is subject to change by the Company at any 

  
 Page 5 of 6

	 	 
time, in its sole discretion. Business and mileage expenses must be timely submitted and will be reimbursed according to the Company’s standard policies. 

 

	 	(g)	All Employee compensation payments will be subject to such deductions by the Company as the Company is from time to time permitted or required to make pursuant to law,
government regulations or order or by agreement with Employee. Such payments may be made by check or checks of the Company or any of its parents, subsidiaries or affiliates as the Company may, from time to time, find proper and appropriate.

 All other terms and conditions of employment remain unchanged. 

I /WE CERTIFY THAT I/WE HAVE READ THE ABOVE AND AGREE TO ALL 

TERMS AND CONDITIONS OF THIS AMENDMENT TO THE EMPLOYMENT 
 AGREEMENT 
  

			
	VOLT DELTA RESOURCES, LLC
		
	By:	 	 /s/ Steven Shaw

		 	Steven Shaw
	
	Title: Executive Vice President

Date:                        
                                         
                        
  

			
	EMPLOYEE: James P. Schmitt
		
	Signature:	 	 /s/ James P. Schmitt

					
			
	Date:	 	 	 	10/6/2008

  
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