Document:

exh10-57.htm

 

Exhibit 10.57

Employment contract

Party A:

Company Name: Shantou Big Trees Toys Co., Ltd.

Legal representative: Lin Wei

Address: Industrial Zone of Shantou, Waisha Licuo, Guangdong Province,

Tel: 0754-8323 8888

Fax: 0754-8572 3888

Party B:

Name: Wei Lin

Gender: Male

Date of Birth:  _________________________

Identity card number: ____________________

Home Address: __________________________

Cell phone: ___________________________

Under the Labor Law of the People's Republic of China, both parties agreed through the consultation on equal footing, and voluntarily entered into this employment contract to abide by the terms set forth in this contract.

1. Employment contract term

Article 1: The contract is a fixed term labor contract.

This contract is valid from January 1, 2011 to December 31, 2011; The contract can be terminated if termination conditions are fulfilled in accordance with the terms elsewhere in the contract.

One month before the expiration of this contract, Party A and Party B shall be on consultation about whether to renew the contract.

2. The position:

Article 2: Party B agrees that Party A works in the General Manager's Office departments, as general manager.

Article 3: Party B shall complete the duties listed in job descriptions.

3. Labor protection and work conditions

Article 4: Party A arranges Party B to work no more than eight hours per day, no more than 44 hours per week on average.

Article 5: Party A provides the necessary working conditions, establishes and improves the production process, and develops operating procedures, specifications and occupational safety and health system and its standards.

Article 6: The employee is encouraged to participate in training and skills development.

4. Compensation

Article 7: Party B’s compensation is based on performance.

Article 8: Party B shall get last month’s compensation between 20th and 25th of every month in the form of RMB 5,000 Yuan from January to June, 15,000 Yuan in July, and 13,000 Yuan from August to December.

5. Insurance, benefits

Article 9: Party B’s disease or non-work related injury should be treated in accordance with the relevant provisions of national and local regulation.

Article 10: Party B’s working related injury, wages and medical should be treated in accordance with the relevant provisions of national and local regulation.

  

  

  

 

Article 11: Party A provides Party B with statutory holiday leaves and personal days leave.

Article 12: Income tax

According to Chinese law, paying personal income tax is the responsibility of each employee. Party A will deduct Party B’s net of tax payable from B’s Salaries based on the Chinese legal requirements.

7. Employment contract changes, dissolution, termination, renewal

Article 15: This contract shall be amended in accordance with changes in laws, administrative regulations, and rules.

Article 16: Both parties can amend or terminate this contract due to significant changes in circumstance.

Article 17: After a consensus by both parties, the contract can be terminated.

 Article 18: In following circumstances, Party A may terminate this contract:

1) During the probationary period Party B has been proved not to meet the employment conditions;

2) Party B seriously violates labor discipline or the Party A’s rules and regulations;

3) Party B makes serious mistakes, malpractice, causing significant harm to the Party interests;

4) Party B is held criminally responsible.

Article 19: In the following circumstances, Party A may terminate this contract with a 30 days’ advance notice

1) Because of illness or non-work related injury, Party B could not take the original work;

2) Party B could not do the job, and remains incompetent after training;

3) Significant changes make it impossible to practice this contract;

Article 20: Party A can terminate the contract if it cannot continue to operate..

Article 21: in the following circumstances, Party A shall not terminate contract according to Article 19:

1) An illness or non-work related injury in the prescribed period;

2) Female workers in the production of, breast-feeding during the period;

3) Work related injury and was confirmed to have totally or partially lost the ability to work;

4) Laws and regulations of other circumstances.

Party A: (Seal) Shantou Big Trees Toy Co., Ltd.          Party B: /S/ by Lin Wei

Legal representative:

(Agent): (Signature)

Contract signing date: January 1, 2011exh10-58.htm

 

EXHIBIT 10.58

Employment Contract

Party A:

Company Name: Shantou Big Trees Toys Co., Ltd.

Legal representative: Lin Wei

Address: Industrial Zone of Shantou, Waisha Licuo, Guangdong Province,

Tel: 0754-8323 8888

Fax: 0754-8572 3888

Party B:

Name: Wei Lin

Gender: Male

Date of Birth: _____________

Identity card number: _________________________

Home Address: __________________________

Cell phone: ________________________________

Under the Labor Law of the People's Republic of China, both parties agreed through the consultation on equal footing, and voluntarily entered into this employment contract to abide by the terms set forth in this contract.

1. Employment contract term

Article 1: The contract is a fixed term labor contract.

This contract is valid from January 1, 2012 to December 31, 2012; The contract can be terminated if termination conditions are fulfilled in accordance with the terms elsewhere in the contract.

One month before the expiration of this contract, Party A and Party B shall be on consultation about whether to renew the contract.

2. The position:

Article 2: Party B agrees that Party A works in the General Manager's Office departments, as general manager.

Article 3: Party B shall complete the duties listed in job descriptions.

3. Labor protection and work conditions

Article 4: Party A arranges Party B to work no more than eight hours per day, no more than 44 hours per week on average.

Article 5: Party A provides the necessary working conditions, establishes and improves the production process, and develops operating procedures, specifications and occupational safety and health system and its standards.

Article 6: The employee is encouraged to participate in training and skills development.

4. Compensation

Article 7: Party B’s compensation is based on performance.

Article 8: Party B shall get last month’s compensation between 20th and 25th of every month in the form of RMB 15,000 Yuan per month.

  

  

  

 

5. Insurance, benefits

Article 9: Party B’s disease or non-work related injury should be treated in accordance with the relevant provisions of national and local regulation.

Article 10: Party B’s working related injury, wages and medical should be treated in accordance with the relevant provisions of national and local regulation.

Article 11: Party A provides Party B with statutory holiday leaves and personal days leave.

Article 12: Income tax

According to Chinese law, paying personal income tax is the responsibility of each employee. Party A will deduct Party B’s net of tax payable from B’s Salaries based on the Chinese legal requirements.

7. Employment contract changes, dissolution, termination, renewal

Article 15: This contract shall be amended in accordance with changes in laws, administrative regulations, and rules.

Article 16: Both parties can amend or terminate this contract due to significant changes in circumstance.

Article 17: After a consensus by both parties, the contract can be terminated.

 Article 18: In following circumstances, Party A may terminate this contract:

1) During the probationary period Party B has been proved not to meet the employment conditions;

2) Party B seriously violates labor discipline or the Party A’s rules and regulations;

3) Party B makes serious mistakes, malpractice, causing significant harm to the Party interests;

4) Party B is held criminally responsible.

Article 19: In the following circumstances, Party A may terminate this contract with a 30 days’ advance notice

1) Because of illness or non-work related injury, Party B could not take the original work;

2) Party B could not do the job, and remains incompetent after training;

3) Significant changes make it impossible to practice this contract;

Article 20: Party A can terminate the contract if it cannot continue to operate..

Article 21: in the following circumstances, Party A shall not terminate contract according to Article 19:

1) An illness or non-work related injury in the prescribed period;

2) Female workers in the production of, breast-feeding during the period;

3) Work related injury and was confirmed to have totally or partially lost the ability to work;

4) Laws and regulations of other circumstances.

Party A: (Seal) Shantou Big Trees Toy Co., Ltd.          Party B: /S/ by Lin Wei

Legal representative:

(Agent): (Signature)

Contract signing date: December 31, 2011ex10_1-f8k04122012.htm

Exhibit 10.1

AMENDMENT

OF

EMPLOYMENT AGREEMENT

THIS AMENDMENT, dated as of this 12th day of April 2012, by and between LIFETIME BRANDS, INC., a Delaware corporation (the "Employer"), and LAURENCE WINOKER (the "Executive").

 

W I T N E S S E T H:

 

WHEREAS, the Employer and the Executive entered into an Employment Agreement dated as of June 28, 2007 which was amended by an Amendment of Employment Agreement dated March 8, 2010 (such Employment Agreement as so amended is hereinafter referred to as the “Employment Agreement”), pursuant to which the employer employed the executive as its Senior Vice President of Finance, Treasurer and Chief Financial Officer on the terms and conditions therein set forth; and

 

WHEREAS, the Employer and the Executive desire to further amend the Employment Agreement.

 

NOW, THEREFORE, in consideration of the promises and the mutual covenants herein contained, the parties hereto hereby agree as follows:

 

1.   Definitions:  Capitalized terms used herein shall have the meaning set forth in the Employment Agreement unless otherwise defined herein.

 

2.   Amendment to Section 3(a).  Effective as of January 1, 2012, Section 3(a) of the Employment Agreement is hereby amended in its entirety to read as follows:

 

 (a)        Salary.  In consideration of the services rendered by the Executive under this Agreement, the Company shall pay the Executive a base salary (the "Base Salary") at the rate of Four Hundred Twenty-Five Thousand Dollars ($425,000) per calendar year. The Base Salary shall be paid in such installments and at such times as the Company pays its regularly salaried employees.

 

3.   Amendment to Section 3(c).  Effective as of January 1, 2012, Section 3(c) of the Employment Agreement is hereby amended in its entirety to read as follows:

 

(c )   Stock Options and Restricted Stock.  In the event that : (i) the Company gives written notice to the Executive prior to the expiration of the Employment Term of the Company’s decision not to extend the Executive’s employment hereunder; (ii) the Executive gives written notice to the Company prior to the expiration of the Employment Term of the Executive’s decision to terminate his employment with the Company for Good Reason; or (iii) there is a Change of Control in which the Executive

  

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is terminated, all of the Executive’s then-outstanding stock options shall immediately vest and become exercisable in their entirety and all restrictions on shares of restricted stock granted by the Company to the Executive on which any restrictions shall not have terminated shall immediately terminate.  In the event that the Executive is terminated by the Company for Cause, then that portion of the then-outstanding stock options granted by the Company to the Executive that has not already vested shall be terminated and that portion of the then-outstanding shares of restricted stock granted by the Company to the Executive on which all restrictions have not already terminated shall be forfeited and cancelled.

4.   Amendment to Section 5(b).  Effective as of January 1, 2012, Section 5(b) of the Employment Agreement is hereby amended in its entirety to read as follows:

 

(b)   Permanent Disability.  The Executive’s employment term shall automatically terminate as a result of the Executive’s Total Disability.  “Total Disability” means the failure of the Executive, after reasonable accommodation, to perform his duties for an aggregate period of 120 consecutive days during any twelve (12) month period by reason of the Executive’s physical or mental disability.  The Company’s obligation to pay the Base Salary to the Executive during such 120 consecutive day period shall be conditioned upon the Executive complying with all requirements under the Company’s short-term and long-term disability insurance policies, as determined in the sole discretion of the short-term and long-term disability insurance providers.  Notwithstanding the foregoing, in the event that the short-term and/or long term insurance providers pay to the Executive any amounts required to be paid by such insurance providers under the Company’s short-term and/or long-term disability insurance policy, as applicable, for the 120 consecutive day period prior to the termination of the Employment Term pursuant to this Section 5(b), then during such 120 consecutive day period, the Company shall pay to the Executive only the amount that is the difference between (1) the disability benefits paid to the Executive by the short-term and long term insurance providers and (2) the Executive’s Base Salary.

5.   Amendments to Section 6(c).  Effective as of January 1, 2012, paragraphs (A), (B) and (C) of Section 6(c) are each hereby amended in their entirety to read as follows:

 

(A)   if this Agreement is terminated by the Company without Cause, then the Executive shall be entitled to receive (1) the benefits set forth in Section 4 hereof, (2) an amount equal to the Executive’s Base Salary as in effect at the effective date of termination, pursuant to the Company’s normal payroll practices, for a period of twelve (12) months from the effective date of termination and (3) the Pro-Rated Performance Bonus for the fiscal year in which the effective date of the termination occurs, payable at the same time as the Performance Bonus for such fiscal year would otherwise have been paid;

  

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(B)   if this Agreement is terminated by the Executive for Good Reason, then the Executive shall be entitled to receive (1) the benefits set forth in Section 4 hereof, (2) an amount equal to the Executive’s Base Salary as in effect at the effective date of termination, pursuant to the Company’s normal payroll practices, for a period of twelve (12) months from the effective date of termination and (3) the Pro-Rated Performance Bonus for the fiscal year in which the effective date of the termination occurs, payable at the same time as the Performance Bonus for such fiscal year would otherwise have been paid; and

(C)   if the Company does not offer employment to the Executive beyond the Initial Term or any Renewal Term, as applicable, on terms and conditions that are, in the aggregate, no less favorable to the Executive than the terms and conditions of this Agreement, then, subject to the provisions of this Agreement, upon the normal expiration of the Initial Term or any Renewal Term, as applicable, the Executive shall be entitled to receive (1) the benefits set forth in Section 4 hereof, (2) an amount equal the Executive’s Base Salary as in effect upon the expiration of the Initial Term or any Renewal Term, as applicable, for a period of twelve (12) months from the expiration of the Initial Term or any Renewal Term, as applicable, pursuant to the Company’s normal payroll practices and (3) the Pro-Rated Performance Bonus for the fiscal year in which the effective date of the termination occurs, payable at the same time as the Performance Bonus for such fiscal year would otherwise have been paid.

(D)   For purposes of this Agreement, the Pro-Rated Performance Bonus for a fiscal year shall be that amount equal to the Performance Bonus for such fiscal year that would have been payable to the Executive by the Company for such fiscal year if this Agreement had not been terminated during such fiscal year times a fraction the numerator of which is the number of days in such fiscal year up to the termination of this Agreement and the denomination of which is the number of days in such fiscal year.

6.   No Other Amendment.  Except as specifically provided in this Amendment, the Employment Agreement shall not be modified or amended in any manner whatsoever and shall remain in full force and effect.

 

7.   Governing Law.  This Amendment shall be construed under and enforced in accordance with the laws of the State of New York without giving effect to any conflict of laws principles.  Any legal action or proceeding brought with respect to any of the provisions of this Amendment shall be brought in the state or federal courts located in New York, New York.  If the Executive prevails in any legal or arbitration proceeding commenced in connection with this Amendment, then the Company shall reimburse the Executive for reasonable attorneys’ fees and costs incurred in connection therewith.

 

  

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8.   Counterparts.  This Amendment may be executed by the parties hereto in counterparts, each of which shall be deemed an original, but both such counterparts shall together constitute one and the same document.

 

IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the day and year first written above.

 

 

 

	  	
 
LIFETIME BRANDS, INC.

	  	  
	  	  
	 	By: 	/s/ Jeffrey Siegel 	 
	 	 	Jeffrey Siegel 	 
	 	 	Chief Executive Officer and President	 
	 	 	 	 
	 	 	 	 
	 	EXECUTIVE	 
	 	 	 	 
	 	 	 	 
	  	
By:

	

/s/ Laurence Winoker

	
 

	  	  	
Laurence Winoker

	  	  	
 

 

 

 

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