Document:

REGENT PACIFIC

REGENT

PACIFIC

Management

Corporation

 

425

California Street, Suite 1310

San

Francisco, CA 94104

(415)

391-8500

Fax:

(415) 391-8539

 

575

Lexington Avenue, Suite 400

New

York, New York, 10022

(212)

935-6760

Fax:

(212) 935-6766

 

 

Exhibit

10.44

 

 

 

October 5, 2001

 

 

Mr. Jim D. Kever, Director

Mr. Kevin S. Moore, Director

Mr. Richard C. Spalding, Director

Oversight Committee of the Board of Directors

3D Systems Corporation

26081 Avenue Hall

Valencia, CA 91355

 

Dear Messrs. Kever, Moore and Spalding:

 

RE:                            Second Amendment to Employment Agreement between Gary J. Sbona and 3D

Systems Corporation

 

This Amendment to Employment Agreement sets

forth certain amendments to the Employment Agreement between Gary J. Sbona

(“Sbona”), and 3D Systems Corporation, a Delaware corporation, and its wholly

owned and controlled subsidiaries (collectively, “3D Systems”), dated September

9, 1999, (the “Original Employment Agreement”).  Except for the amendments expressly contained herein, the Original

Employment Agreement shall remain in full force and effect.

 

The paragraph of the Original Employment

Agreement entitled “Term of Agreement” is hereby amended in its entirety as

follows:

 

“Term of agreement:  The term of this agreement (the “Term”)

shall commence on the Effective Date and shall terminate thirty-six (36) months

thereafter (the “Termination Date”), unless sooner terminated as provided

herein.  Employer and Employee may, upon

mutual agreement, elect to continue Employee’s employment on an at will basis

(meaning that either the Employee of Employer may terminate the employment

relationship at any time with or without cause or notice), after the initial

term of this agreement.”

 

 

 

A new paragraph regarding stock options is

hereby added to the Original Option Agreement following the first paragraph of

section 11.  It reads in its entirety as

follows:

 

“Stock Options:  In

addition to the initial stock option grant to Gary L. Sbona as an inducement to

employment, dated September 9, 1999, for three hundred fifty thousand (350,000)

shares of 3D Systems common stock, and in addition to the option grant for an

additional three hundred fifty thousand (350,000) shares of 3D Systems stock to

Gary J. Sbona and/or his designee as of August 8, 2000, 3D Systems agrees that

as of the date this amendment is executed by the Special Committee, 3D Systems

will grant an option for three hundred fifty thousand (350,000) shares of 3D

systems common stock to Gary J. Sbona and/or his designee at the average market

price for the five (5) days prior to that date.  These options are granted as an incentive to renew employment and

shall vest and be exercisable in a similar manner to the original option

grant.”

 

Very truly yours,

 

 Gary J. Sbona

 

 

	

  By:

  	

  /s/ GARY J. SBONA

  
	

   

  	

  Gary J. Sbona

  

 

 

 

	

  THE FOREGOING IS HEREBY

  APPROVED AND AGREED TO:

  
	

   

  	

   

  	

   

  
	

  DATED:

  	

  October 30, 2001

  	

   

  
	

   

  	

   

  	

   

  
	

  3D SYSTEMS CORPORATION

  
	

  (Signifies full agreement

  with all terms and conditions)

  
	

   

  	

   

  	

   

  
	

  BY:

  	

  /s/ JIM D. KEVER

  
	

   

  	

  Name: Jim D. Kever

  	

  Title: Director

  
	

   

  	

   

  	

   

  
	

  BY:

  	

  /s/ KEVIN S. MOORE

  
	

   

  	

  Name: Kevin S. Moore

  	

  Title: Director

  
	

   

  	

   

  	

   

  
	

  BY:

  	

  /s/ RICHARD C. SPALDING

  
	

   

  	

  Name: Richard C. Spalding

  	

  Title: Director

  
					

 

 

2REGENT PACIFIC

REGENT PACIFIC

Management Corporation

 

425 California Street, Suite 1310

San Francisco, CA 94104

(415) 391–8500

Fax: (415) 391–8539

 

375 Lexington Avenue, Suite 400

New York, New York 10022

(212) 934-6760

Fax: (212) 935-6766

 

Exhibit 10.45

 

 

October 5, 2001

 

Mr. Jim D. Kever, Director

Mr. Kevin S. Moore, Director

Mr. Richard C. Spalding, Director

Oversight Committee of the Board of Directors

3D Systems Corporation

26081 Avenue Hall

Valencia, CA 91355

 

Dear Messrs. Kever, Moore and Spalding:

 

RE:             Second Amendment to Retainer

Agreement between Regent Pacific Management  Corporation and 3D Systems 

Corporation

 

This Second Amendment to the Retainer Agreement sets forth certain

amendments to the Retainer Agreement between Regent Pacific Management

Corporation, a California corporation (“Regent Pacific”), and 3D Systems

Corporation, a Delaware corporation, and its wholly owned and controlled

subsidiaries (collectively, “3D Systems”), dated September 9, 1999, as amended

on August 8, 2000 (the “Original Retainer Agreement” and the “First

Amendment”).  Except for the amendments

expressly contained herein, the Original Retainer Agreement and First Amendment

shall remain in full force and effect.

 

Paragraph 1 of the Original

Retainer Agreement is hereby amended in its entirety as follows:

 

	“Regent Pacific agrees to provide a

     management team to assume the chief executive, corporate oversight and

     general management responsibilities for 3D Systems.  For the first twenty-four months of

     this agreement, Regent Pacific will provide a team consisting of at least

     four full time equivalents (FTEs). 

     Beginning in month twenty–five, the size of the team will be

     maintained at such levels as Regent Pacific reasonably determines

     necessary to fulfill the above referenced responsibilities.

 

 

 

The paragraph regarding “Fees:” of the Original Retainer Agreement

is hereby amended in its entirety as follows:

 

“Fees: Regent Pacific has agreed to provide

the work product included in this agreement for a period of thirty–six

(36) months of non-cancelable services. 

For the first twenty-four months of this agreement the services shall

include four full time equivalents (FTEs) at a rate of $12,500 per FTE per week

payable in four (4) week increments, each payment to be made in advance of each

Regent Pacific standard four-week billing period.  Additionally, the services provided by up to two additional FTEs

beginning February 12, 2000 shall be $2,500 per FTE per day, billed in arrears

based upon the actual time spent by the FTEs providing these services.  Beginning in month twenty–five of this

agreement, the services shall be at a base rate of $45,000 per week, for the

services of up to three FTEs, payable in four (4) week increments, each payment

to be made in advance of each Regent Pacific standard four-week billing

period.  It is agreed and understood

between us that the payments of such cash fees are to be made immediately

preceding the start of each four-week billing period, and that failure to pay

such periodic payments when due shall constitute a breach of this agreement by

3D Systems.  It is further understood

that such Regent Pacific’s fees are to be paid in advance of the work to be

performed, and that such cash payments are earned upon provision of the agreed

upon services by Regent Pacific. 

Beginning October 8, 2001, if Regent Pacific reasonably determines that

it needs to provide additional services beyond those provided by three FTEs in

order to fulfill its responsibilities, Regent Pacific may provide up to two

additional FTEs on an as needed basis at a rate of $3,000 per FTE per day,

billed in arrears based upon the actual time spent by the FTEs providing these

additional services.  It is agreed and

understood that the cash payments for the additional FTEs will be remitted to

Regent Pacific within five days of invoice date.”

 

The paragraph of the Original Retainer Agreement entitled “Term of Agreement” is hereby amended in its

entirety as follows:

 

“Term of agreement:  The term of this agreement shall be for

thirty-six (36) months, unless earlier terminated in accordance with this

paragraph.  Regent Pacific hereby

commits the availability of its resources to 3D Systems under this agreement

for the full thirty–six (36) month term of the engagement.  3D Systems may discharge Regent Pacific for

any material breach of this agreement. 

Regent Pacific may withdraw from this assignment at any time with 3D

Systems’ consent or for good cause without 3D Systems’ consent.  Good cause includes 3D Systems’ breach of

this agreement (including 3D Systems’ failure to pay any invoice within five

working days of presentation), or any fact or circumstance that would render

Regent Pacific’s continuing participation in the assignment unethical or

unlawful.” 

 

The paragraph of the Original

Retainer Agreement entitled “Non–solicitation”

is hereby amended in its entirety as follows:

 

 

2

 

 

“Non–solicitation:  in recognition of the fact that the Regent

Pacific individuals that we provide to 3D under this agreement may perform

similar services from time to time for others, this agreement shall not prevent

Regent Pacific from performing such similar services or restrict Regent Pacific

from using such individuals.  3D agrees

that it shall not, except by mutual agreement between the parties, during the

term of this agreement nor for a period of three (3) years after its

termination, solicit for employment nor employ, whether as employee or

independent contractor or agent, any person who performs services under this

agreement.  It is agreed that in the

event of a breach of this paragraph by 3D, it would be impractical or extremely

difficult to fix actual damages and, therefore, Regent Pacific and 3D agree

that if 3D breaches this paragraph, then 3D shall pay to Regent Pacific

$390,000 per individual solicited or employed as employee, independent

contractor or agent, as Liquidated Damages and not as a penalty, which is

agreed by Regent Pacific and 3D to represent reasonable compensation for the

foreseeable loss that will, in all likelihood, be incurred because of such

breach.”

 

Very truly yours,

 

REGENT PACIFIC MANAGEMENT CORPORATION

 

	

  By: /s/GARY

  J. SBONA

  
	

  Gary J.

  Sbona

  
	

  Chairman and

  Chief Executive Officer

  

 

 

THE FOREGOING IS HEREBY APPROVED AND AGREED

TO:

 

	

  DATED: 

  	

  October 30, 2001

  

 

3D SYSTEMS CORPORATION

(Signifies full agreement with all terms and

conditions)

 

	

  By: /s/JIM

  D. KEVER

  	

   

  
	

  Name: Jim D. Kever

  	

  Title:

  Director

  
	 
	

   

  	

   

  
	 
	

  By: /s/KEVIN

  S. MOORE

  	

   

  
	 
	

  Name: Kevin S. Moore

  	

  Title:

  Director

  
	 
	

   

  	

   

  
			

 

	

  BY: /s/

  RICHARD C. SPALDING

  	

   

  
	

  Name: Richard C. Spalding

  	

  Title:

  Director

  

 

 

3

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