Document:

ex_147502.htm

Exhibit 10.2

 

Amendment No. 4 to Executive Employment Agreement

 

This Amendment No. 4 to the Executive Employment Agreement (the “Fourth Amendment”) is entered into as of June 10, 2019 by and among Tapinator, Inc., a Delaware corporation (the “Company”) and Andrew Merkatz (“Employee”).

 

RECITALS

 

WHEREAS, the Company and Employee are parties to that certain Executive Employment Agreement made as of May 7, 2015 (the “Original Agreement”) and the Company and Employee subsequently entered into that certain Amendment No. 1 to Executive Employment Agreement made as of August 25, 2016 (the “First Amendment”), that certain Amendment No. 2 to Executive Employment Agreement made as of March 31, 2017 (the “Second Amendment”) and that certain Amendment No. 3 to Executive Employment Agreement made as of April 1, 2018 (the “Third Amendment”); and

 

WHERES, the Company and Employee desire to amend the Original Agreement, the First Amendment, the Second Amendment and the Third Amendment as set forth in this Fourth Amendment.

 

AGREEMENT

 

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Employee and the Company agree as follows:

 

1.     Incorporation of Recitals; Defined Terms. The recitals set forth above are hereby incorporated by reference into this Fourth Amendment. Capitalized terms used, and not otherwise defined herein, shall have the meanings given to such terms in the Original Agreement.

 

2.     Amendments to Original Agreement.

 

(a)     As of the date hereof, Section 1 of the Original Agreement and Third Amendment is deleted and replaced in its entirety with the following:

 

“The term of the Original Agreement, including all amendments thereto, shall commence on June 1, 2015 and continue through June 30, 2022 (“Term”), unless otherwise terminated as set forth in the Original Agreement. The Term shall automatically renew for the two-year period beginning July 1, 2022 and ending June 30, 2024 (the “Renewal Term”) unless either party provides written notice to the other party of non-renewal on or before April 31, 2022.”

 

3.     Miscellaneous. The Original Agreement, the First Amendment, the Second Amendment, Third Amendment and this Fourth Amendment contain the entire understanding of the Company and Employee with respect to the subject matter hereof, and supersede all prior representations, agreements and understandings relating to the subject matter hereof, including but not limited to the Fourth Amendment. In the event of an inconsistency between the terms of the Original Agreement and the Fourth Amendment with respect to the matters the subject matter hereof, this Fourth Amendment will govern.   Except as explicitly amended by this Fourth Amendment, the Original Agreement and the Third Amendment and Fourth Amendment shall remain in full force and effect.

 

 

[SIGNATURE PAGE FOLLOWS]

 

1

 

 

                 In Witness Whereof, the Company and Employee have caused this Amendment No. 4to Executive Employment Agreement be executed and as of the date referenced above.

 

 

Company: 

 

tapinator, inc.

 

 

 

By: /s/ Ilya Nikolayev

Name: Ilya Nikolayev

Title:   Chief Executive Officer 

 

 

 

employee: 

 

 

 

 

By: /s/ Andrew Merkatz

Name: Andrew Merkatz

 

2Exhibit 10.1

 

 

AMENDMENT TO SEPARATION BENEFIT
AGREEMENT

 

This Amendment
to the Separation Benefit Agreement dated June 13, 2019, (the “Amendment”) amends the Separation Benefit Agreement,
dated as of May 27, 2016, entered into by and among Ross Anker ("Executive") and SiteOne Landscape Supply, LLC,
a Delaware limited liability company, and SiteOne Landscape Supply, Inc., a Delaware corporation. Unless the context clearly requires
otherwise, (a) all references to “Company” herein shall mean SiteOne Landscape Supply, LLC, SiteOne Landscape
Supply, Inc., and each respective entity’s affiliates, and (b) all references to “Agreement” shall mean
the Separation Benefit Agreement as amended by this Amendment. Capitalized terms that are used but not otherwise defined have the
meanings set forth in section 4 of the Agreement.

 

WHEREAS,
the Company currently employs Executive as its Executive Vice President, Category Management, Marketing and IT pursuant to the
terms set forth in the Agreement; and

 

WHEREAS,
the Company desire to terminate Executive’s services to the Company without Cause in accordance with the terms and conditions
set forth in the Agreement; and

 

WHEREAS,
Executive and the Company agree to amend the Agreement on the terms set forth herein.

 

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

 

		1.	Termination of Employment

 

Executive’s
employment with the Company shall terminate effective as of June 30, 2020 (“Separation Date”).

 

		2.	Garden Leave

 

“Garden
Leave” means the period commencing on July 1, 2019 to and including the Separation Date. The Company and Executive agree
as follows with respect to the Garden Leave:

 

		(a)	During the Garden Leave, Executive shall (i) only be required to
                                                                provide services specified in writing by the CEO and agreed to in writing by Executive from time to time until the Separation
                                                                Date,                                                                 provided,
                                                                however,                                                                                                         the
                                                                Company shall                                                                 not have any obligation to provide any work
                                                                to                                                                      Executive, and (ii) not have a right to perform any
                                                                services for
                                                                the Company;

 

		(b)	Notwithstanding anything in this Amendment to the contrary, Executive’s
required services for the Company shall be permanently reduced to a level less than 20% of the average level of services performed
by Executive in the preceding 36-month period immediately prior to the commencement of the Garden Leave. For the avoidance of doubt,
the preceding sentence does not prevent Executive from obtaining alternative employment, subject to the other provisions in this
Agreement.

 

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		(c)	Executive acknowledges and agrees that Executive’s annual bonus for
2019 shall be a Pro-Rated Bonus. For 2019, Executive’s Pro-Rated Bonus shall mean the amount of Executive’s annual
bonus for 2019, determined based on actual results as if he had remained employed for the entire service period, but pro-rated
by multiplying such bonus amount by a fraction, the numerator of which shall be 181 and the denominator of which is equal to 365.
For the avoidance of doubt, Executive’s 2019 bonus shall only consider the period from January 1, 2019 to June 30, 2019.
Executive’s 2019 Pro-Rated Bonus shall otherwise be paid as provided in the Agreement. Executive shall not be eligible for
any bonus for the 2020 fiscal year.

 

		(d)	Executive acknowledges and agrees that he shall not receive any base salary
or any other compensation (except as otherwise provided in this Amendment) for any period commencing on or after the Garden Leave.
Executive further acknowledges and agrees that he shall not accrue any vacation with respect to any period commencing on or after
the Garden Leave.

 

		(e)	Executive’s previously granted equity awards shall continue to vest
during the period of the Garden Leave in accordance with the terms of the applicable equity incentive plan document(s) and any
applicable equity grant agreement(s). However, Executive acknowledges and agrees that during the Garden Leave he shall not be entitled
to the grant of, and will not receive, any additional equity awards, and Executive hereby waives any and all rights to any such
additional equity awards.

 

		(f)	Except as otherwise provided herein, during the period of the Garden Leave,
Executive will continue to be entitled to participate in the Company’s employee benefit plans, pursuant to the terms and
conditions of such plans.

 

		3.	Payments and Benefits During Garden Leave and Following
the Separation Date

 

(a)       Subject
to Executive’s timely execution and non-revocation of this Amendment, the payments set forth in section 3(f)(ii) of the Agreement
shall commence on August 30, 2019 as otherwise provided in the Agreement.

 

(b)        The
commencement of the Garden Leave shall entitle Executive to elect COBRA continuation of his medical, dental and vision insurance
coverages. Executive acknowledges and agrees that if Executive obtains alternative employment and is offered medical coverage in
connection therewith, the medical coverage reimbursement the Company provides pursuant to Section 3(f) of the Agreement shall terminate
as of such date (regardless of whether Executive elects such alternative medical coverage). Executive agrees to provide prompt
written notice to the Company of the availability of any such alternative coverage. In such an event, Executive shall have the
right to continue his COBRA continuation coverage for any remaining COBRA continuation coverage period subject to his timely payment
of the then full COBRA continuation coverage premiums. COBRA continuation coverage will be provided as otherwise set forth in the
Agreement. Additional information about continuation coverage under COBRA will be provided to Executive separately.

 

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(c)       Executive
shall be eligible for distribution of any vested account balance under any qualified retirement plan (such as a 401(k) plan) sponsored
by the Company, pursuant to the terms and conditions of such plan documents.

 

(d)Except as
otherwise expressly stated herein or as otherwise required by law, as of the Separation Date, Executive shall cease to participate
in all employee benefits, plans, policies and practices provided by the Company.

 

(e)       Executive
acknowledges and agrees that the payments set forth in section 3(f)(ii) of the Agreement are subject to Executive’s timely
execution and non-revocation of the general release of claims set forth in section 9 this Amendment and the Waiver and Release
Agreement set forth in Exhibit A to this Amendment following the Separation Date (the “Release Agreement”).
If Executive does not execute (or executes but revokes within the specified revocation period) this Amendment and the Release Agreement,
Executive’s entitlement to such payments shall be eliminated, including such payments already received and, with respect
to payments received, Executive shall be required to immediately return any such amounts requested by the Company.

 

		4.	Definitions

 

For purposes
of sections 4, 5, 6, 7 and 8 of this Amendment, the parties hereto agree that the following terms shall apply:

 

(a)              
“Affiliate” means any person or entity (i) that directly or indirectly controls, is controlled by, or
is under direct or indirect common control with, such person or entity or (ii) that has the power to directly or indirectly cause
the direction of the management and policies of such person or entity, whether through the ownership of voting securities, by contract
or otherwise;

 

(b)              
“Competitive Capacity” means performing the same or similar duties to those performed by Executive on
behalf of the Company at any time during the 24-month period preceding Executive’s Separation Date;

 

(c)              
“Competitive Products” shall include any product or service that directly or indirectly competes with,
is substantially similar to, or serves as a reasonable substitute for, any products or services sold or distributed by the Company.

 

(d)              
“Competitor” shall mean any company that sells Competitive Products;

 

(e)              
“Customer” means those individuals, companies, or other entities for whom the Company has provided or
does provide products or services or has provided written proposals.

 

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(f)               
“Geographic Territory” shall mean every state of the United States and province of Canada;

 

(g)              
“Restricted Period” shall include the period of Executive’s employment with the Company, as well
as a period of 12 months after the Separation Date;

 

(h)              
“Indirectly” shall mean that Executive will not assist others in performing or allow others to perform
those activities that Executive is prohibited from engaging in directly under this Amendment; and

 

(i)                
“Business Contact” means contact that is intended to establish or strengthen a business or professional
relationship for the Company, regardless of whether the contact is with a Customer directly assigned to Executive or a Customer
with which Executive otherwise had contact in furtherance of Executive’s job duties.

 

		5.	Non-Solicitation

 

During the
Restricted Period, to the fullest extent permitted by law, Executive agrees not to directly or Indirectly engage in the following
prohibited conduct:

 

(a)              
For or on behalf of any Competitor, and relating to any Competitive Products, solicit, divert, or appropriate, or attempt
to solicit, divert, or appropriate, any Customer, or Business Contact;

 

(b)              
Disclose to any Competitor the identities, contacts, or preferences of any Customers or referral sources, or the identity
of any other persons or entities having Business Contact with the Company;

 

(c)              
Induce any individual who has been employed by the Company within the 12-month period immediately preceding Executive’s
Separation Date to terminate his or her employment with the Company;

 

(d)              
Directly or Indirectly solicit, recruit, or encourage current employees of the Company, or employees who have terminated
their employment with the Company within twelve (12) months of the solicitation, recruitment, or encouragement, to provide to a
Competitor the same or substantially similar services they provided to the Company; or

 

(e)              
Otherwise attempt to directly or Indirectly interfere with the Company’s business or its relationship with its employees,
consultants, independent contractors, Customers, Business Contacts, or vendors.

 

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		6.	Non-Compete

 

To the fullest
extent permitted by law, Executive agrees during the Restricted Period not to directly or Indirectly engage in the following competitive
activities:

 

(a)              
Executive shall not, either for Executive’s own behalf or for or on behalf of any Competitor, within the Geographic
Territory, have an ownership interest in any Competitor, advise or provide consultation to any Competitor in a Competitive Capacity,
or otherwise work for or assist any Competitor in any Competitive Capacity;

 

(b)              
Executive shall not, either for Executive’s own behalf or for or on behalf of any Competitor, within the Geographic
Territory, engage in the sale or distribution of any Competitive Products.

 

(c)              
Executive shall not advise or provide consultation or otherwise work for or assist any Competitor on the list set forth
in Exhibit B to this Amendment within the Geographic Territory.

 

		7.	Survival of Restrictive Covenants

 

Executive’s
obligations hereunder are independent and separate covenants undertaken by Executive for the benefit of the Company, and any alleged
breach by the Company of any contractual, statutory or other obligation shall not excuse or terminate Executive’s obligations
hereunder or otherwise preclude the Company from seeking injunctive or other relief.

 

		8.	Specific Enforcement/Injunctive Relief

 

Executive
acknowledges that it would be difficult to measure any damages to the Company from a breach of the restrictive covenants set forth
in this Amendment. Executive further acknowledges that the potential for such damages would be great, incalculable and irremediable,
and that monetary damages alone would be an inadequate remedy. Accordingly, Executive agrees that the Company shall be entitled
to seek immediate injunctive relief against such breach, or threatened breach. If Executive violates any restrictive covenant set
forth in this Amendment, Executive agrees that the period of such violation shall be added to the term of the restriction. In determining
the period of any violation, the parties stipulate that in any calendar month in which Executive engages in any activity in violation
of such provisions, Executive shall be deemed to have violated such provision for the entire month, and that month shall be added
to the duration of the provision. Executive acknowledges that the remedies described above shall not be the exclusive remedies,
and the Company may seek any other remedy available to it either in law or in equity, including, by way of example only, statutory
remedies for misappropriation of trade secrets, and including the recovery of compensatory or punitive damages. Without limiting
the generality for the foregoing, Executive agrees that any violation of the Agreement or this Amendment, will eliminate his entitlement
to separation payments and benefits, including such payments already received and, with respect to payments received, Executive
shall be required to immediately return any such amounts requested by the Company.

 

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		9.	General Release by Executive

 

(a)                 
Release. Executive, on behalf of himself and Executive ’s spouse, heirs, executors, administrators, assigns,
insurers, attorneys and other persons or entities, acting or purporting to act on Executive ’s behalf (collectively, the
“Executive Parties”), does hereby irrevocably and unconditionally release, acquit and forever discharge the
Company, and its subsidiaries, affiliates, parent and sister companies, and each of its or their respective directors, officers,
employees, partners, agents, representatives, predecessors, successors, assigns, insurers, and attorneys (collectively, the “Company
Parties”), from any and all actions, causes of action, suits, claims, obligations, liabilities, debts, demands, contentions,
damages, judgments, levies and executions of any kind, whether in law or in equity, known or unknown, including but not limited
to claims which the Executive Parties have or have had against the Company Parties by reason of, arising out of, related to, or
resulting from Executive ’s employment with the Company or the termination thereof, existing as of the Effective Date (defined
in Section 15 below).

 

(b)              
Specific Types of Claims Included in Release. Without limiting the generality of the foregoing, this Amendment is
intended to and shall release the Company Parties from any and all claims, whether known or unknown, which the Executive Parties
ever had, now have, or may have against the Company Parties arising out of Executive ’s employment and/or separation from
employment, including, but not limited to: (i) any claim under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities
Act, the Employee Retirement Income Security Act of 1974 (excluding claims for accrued, vested benefits under any employee benefit
or pension plan of the Company Parties subject to the terms and conditions of such plan and applicable law), the Family and Medical
Leave Act, and the Age Discrimination in Employment Act; (ii) any other claim (whether based on any federal, state, or local law,
statutory or decisional) relating to or arising out of Executive ’s employment, the terms and conditions of such employment,
the termination of such employment, and/or any of the events relating directly or indirectly to or surrounding the termination
of that employment, including but not limited to breach of contract (express or implied), wrongful discharge, retaliation, detrimental
reliance, defamation, emotional distress or compensatory or punitive damages; and (iii) any claim for attorneys’ fees, costs,
disbursements and/or the like. With respect to unknown claims, Executive expressly waives (and understands the significance of
doing so) all rights Executive might have under any law that is intended to protect Executive from waiving such claims.

 

(c)              
Exceptions to Release. The foregoing release does not release or impair: (i) the Company’s promises and obligations
under the Agreement; (ii) any rights Executive has under any grants of stock options, restricted stock, or other forms of equity
that may have been provided to Executive during his employment (such grants to be governed by the applicable equity plan(s) and
grant agreement(s) and this Amendment); (iii) any rights Executive has under applicable workers compensation laws; (iv) any vested
rights under a qualified retirement plan; (e) any other claims that cannot lawfully be released; (v) Executive’s ability
to respond truthfully to a valid subpoena issued by, file a charge with, or participate in any investigation conducted by, a governmental
agency; (vi) any claims arising after the date of Executive ’s execution of this Amendment; (vii) any rights to insurance
benefits under any Directors & Officers liability insurance policy maintained by the Company; or (viii) any indemnification
rights from the Company. Notwithstanding anything herein to the contrary, this release of claims will not prohibit Executive from
filing a charge of discrimination with the National Labor Relations Board, the Equal Employment Opportunity Commission ("EEOC")
or an equivalent state civil rights agency, but Executive agrees and understands that he is waiving his right to monetary compensation
thereby if any such agency elects to pursue a claim on his behalf. Further, nothing in this release of claims shall be construed
to waive any right that is not subject to waiver by private agreement under federal, state or local employment or other laws, such
as claims for workers' compensation or unemployment benefits or any claims that may arise after the Effective Date.

 

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		10.	Representations by Executive

 

(a)              
Executive represents and warrants to the Company that Executive has read this Amendment and fully understands the effect
hereof, that Executive executes this Amendment of Executive’s own free will and accord for the consideration set forth herein,
and that Executive is not relying on any representations whatsoever of the Company, other than those set forth herein, as an inducement
to enter into this Amendment.

 

(b)              
Executive further represents and warrants to the Company that no litigation or other proceeding has been filed or is pending
by the Executive against the Company; that no person or entity other than Executive has or has had any interest in the matters
released herein; that Executive has the sole right, capacity, and exclusive authority to execute this Amendment; and that Executive
has not sold, assigned, transferred, conveyed or otherwise disposed of any of the claims, demands, obligations, or causes of action
released herein.

 

(c)              
Executive represents that Executive has had the opportunity to discuss this Amendment with an attorney, and Executive has
been advised by the Company to do so if Executive so desires. Executive covenants and agrees that Executive has been given at least
21 days to contemplate the terms of this Amendment before executing it, and that if Executive chooses to execute it in fewer than
21 days, Executive does so voluntarily and of Executive’s own free will and volition.

 

		11.	No Admission of Liability; Representations by the Company

 

This Amendment shall
not be construed as an admission of liability by the Company, or an admission that the Company has acted in any way wrongfully
towards Executive. The parties specifically deny and disclaim any such liability or wrongful conduct.

 

12.             
Confidentiality of Amendment

 

Executive will treat
the terms of the Agreement, and the circumstances of Employee’s separation from employment, as confidential and will not
disclose the terms or circumstances thereof to anyone except Executive’s spouse, attorney, accountant or financial advisor,
or except as may be required by law or agreed to in writing by the Company (provided that, in the event of such disclosure, Employee
shall notify Employee’s spouse, attorney, accountant and/or financial advisor of the confidential nature of the Agreement
and the circumstances of Executive’s separation from employment). Nothing in the Agreement shall be deemed to prohibit Employee
from communicating or cooperating with any governmental agency.

 

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		13.	Incorporation of Agreement

 

The terms
of the Agreement are hereby incorporated fully herein by this reference and shall remain in full force and effect except as specifically
modified by this Amendment.

 

		14.	Partial Invalidity; Severability

 

In case
any one or more of the provisions or parts of a provision contained in the Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any
other provision or part of a provision of the Agreement, but the Agreement shall be reformed and construed in any such jurisdiction
as if such invalid or illegal or unenforceable provision or part of a provision had never been contained herein and such provision
or part shall be reformed so that it would be valid, legal and enforceable to the maximum extent permitted in such jurisdiction.

 

		15.	Effective Date

 

Executive may accept
this Amendment by signing it and returning it to Joe S. Ketter, SVP Human Resources, SiteOne Landscape Supply, 300 Colonial
Center Pkwy, Roswell, GA 30076 via hand-delivery or by Registered or Certified U.S. Mail, Postage Prepaid, Return Receipt Requested
no later than June 14, 2019, or this offer will be deemed revoked. After executing this Amendment, Executive shall have 7 days
(the “Revocation Period”) to revoke it by indicating Executive’s desire to do so in writing delivered
to the Company contact by no later than the seventh (7th) day after the date Executive signs this Amendment. The effective
date of this Amendment shall be the eighth (8th) day after Executive signs it (the “Effective Date”).
If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be
deemed to be the next business day. In the event Executive revokes this Amendment during the Revocation Period, this Amendment,
including but not limited to the obligation of the Company to provide Executive with the payments and benefits specified in section
3 above, shall be deemed automatically null and void.

 

		16.	Counterparts

 

This Amendment
may be executed in counterparts, including those transmitted by electronic means, each of which shall be deemed an original and
all of which taken together shall constitute one and the same document.

 

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IN WITNESS WHEREOF, this
Amendment has been executed as of the date first written above.

 

	 	Executive	 
	 	 	 	 
		/s/ Ross Anker	 
	 	Ross Anker	 
	 	 	 	 
	 	 	 	 
	 	SiteOne Landscape Supply, LLC	 
	 	 	 	 
	 	By 	/s/
    Doug Black	 
	 	Its 	President
    and      CEO	 
	 	 	 	 
	 	 	 	 
	 	SiteOne Landscape Supply, Inc.	 
	 	 	 	 
	 	By 	/s/
    Doug Black	
	 	Its 	President and      CEO	 
	 	 	 	 

 

 

[Signature page to Amendment
to Separation Benefit Agreement]

 

    9

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