Document:

Exhibit 10.2.

 

THIRD AMENDMENT TO REPUBLIC BANK BUILDING
LEASE

 

This Third Amendment dated effective May 1, 2003, is made to the
Republic Bank Building Lease dated August 1, 1999, as amended, between Jaytee
Properties, a Kentucky general partnership, hereinafter referred to as
“Landlord” and Republic Bank & Trust Company, hereinafter referred to as
the “Tenant”.  As parties hereto,
Landlord and Tenant hereby agree to further modify and amend their original
Lease Agreement, as amended, as hereafter set forth.

 

Landlord and Tenant agree that
the following terms of the Lease shall be amended to add an additional 10,000
square feet under the Lease.  The Tenant
shall pay for all TI associated with the additional space.  The term shall be a 6 year, 2 month term beginning
on May 1, 2003 extending to July 31, 2009 with one 5 year option to renew at
the same rental rate plus CPI as set forth in the original Lease.  Rent shall be increased by $13,333.33,
($16.00 per square foot), per month effective May 1, 2003 and continue in
accordance with the terms of that original lease, as amended, referenced
herein, except as otherwise provided under this Third Amendment.  More specifically, the Lease shall be
amended as follows:

 

ARTICLE I.  PREMISES

 

SECTION 1.  Tenant leases from Landlord and Landlord
leases to Tenant the following additional premises (hereinafter called the
“Premises”):

 

Being an additional 10,000
square feet of office space located on the second floor in the Republic Bank
Building (hereinafter called “the Building”) located at 9600 Brownsboro Road,
Jefferson County, Ky.

 

Article II, TERM, is hereby amended to include the following:

 

As to the 10,000 square feet on the second floor of the Premises, with
an initial term commencing on May 1, 2003 and terminating on July 31, 2009,
Tenant shall have one option to renew the Lease for an additional five-year
period.  The option shall be for the sum
of Thirteen thousand three hundred thirty-three and 33/100 dollars ($13,333.33)
per month plus a rent adjustment proportionate to the increase in the Consumer
Price Index for all urban consumers during the initial term of the 10,000
square feet located on the second floor of the Premises pursuant to this
Lease.  Tenant shall notify Landlord of
Tenant’s intent to exercise this option herein provided within 90 days of the
expiration of the initial term of the additional space referenced in this
paragraph.

 

ARTICLE III.  RENT AND OPERATING EXPENSES

 

SECTION 1.  Tenant shall pay to Landlord, at Landlord’s
office in the Building or at such place as Landlord may from time to time
designate, as monthly rental for the Premises as of the effective date of this
Third Amendment, the sum of $16,819.00, plus $13,333.33 for the additional
space referenced herein, for a total rental payment of $30,152.33.  Tenant shall be responsible for the cost of
Tenant Improvements and accepts the space as is.

.

The terms and provisions of the original lease, as amended, shall
continue in full force and effect except as modified and amended herein.

 

 

	
  JAYTEE
  PROPERTIES

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Steven
  E. Trager

  	
   

  
	
   

  
	
   

  
	
  REPUBLIC
  BANK & TRUST COMPANY

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Kevin
  Sipes

  	
   

  

 

38EXHIBIT 10.01

 

SETTLEMENT AGREEMENT AND RELEASE

 

 

This Settlement Agreement and Release (“Agreement”) is entered into as of June 6, 2003, by ZAMBA
Corporation d/b/a Zamba Solutions (“Zamba”) and Doug Holden (“Holden”).

 

F  A  C  T
S

 

A.                                   On
or about October 17, 2000, Zamba and Holden entered into an agreement
regarding Holden’s entering into employment with Zamba as its President and
Chief Executive Officer (the “Employment Agreement”), which is attached
hereto as Exhibit A.  On or about the
same day, Zamba and Holden entered into a Zamba Employee Agreement (the “Employee
Agreement”).

 

B.                                     On
or about June 28, 2002, Holden separated from employment with Zamba, and
the parties wish to settle certain claims arising out of Holden’s separation
from employment, including but not limited to Holden’s claims for severance
arising out of the Employment Agreement.

 

Now, therefore, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

 

1.                                       Effective
Date.  This Agreement shall be
effective upon Zamba’s receipt of Holden’s complete execution of this Agreement
(the “Effective Date”).

 

2.                                       Payment.  Within two business days of the Effective
Date, Zamba shall deliver to Holden the sum of Ten Thousand Dollars ($10,000),
and Zamba shall also pay Holden additional payments of Ten Thousand Dollars
($10,000) on the twentieth, fiftieth, eightieth, and one hundred tenth days
following the Effective Date, until such time as Holden has received a total
payment of Fifty Thousand Dollars ($50,000) (each individually a “Payment” and collectively the “Payments”).  Each Payment shall be delivered to Holden in
the form of a check made payable to “Doug Holden” and mailed to the following
address: 1196 Eagle Valley Court, San Jose, CA 95120.

 

3.                                       Release.  Subject to Holden’s receipt of all Payments,
Holden, for himself and for his partners, family agents, representatives,
employees, attorneys, shareholders, successors in interest, personal
representatives, heirs, assigns and each of them, absolutely, fully and forever
releases and discharges Zamba and its officers, directors, shareholders,
agents, representatives, employees, servants, attorneys, successors in
interest, assigns and each of them, whether past, present or future, of and
from any and all claims, demands, liabilities, obligations, losses,
controversies, costs, expenses, attorneys’ fees and damages of every kind,
nature, character or description whatsoever, whether in law or in equity, and
whether known or unknown, , foreseen or unforeseen, suspected or unsuspected,
arising out of, connected with, or in any way related to any claim by Holden
for severance or any other claim arising out of his employment with Zamba and
the separation of that employment, whether arising out of the Employment
Agreement, Employee Agreement, any other oral or written agreement, or any
other facts or circumstances, except for potential claims arising out of the
fifth and sixth bullets of his Employment Agreement.  Holden represents that he does not have any current claims
arising out of the fifth and sixth bullets of his Employment Agreement.

 

Notwithstanding
the provisions of any federal, state or local statute, regulation, rule or
order, Holden agrees that this Release applies to any and all legal claims of
any kind whatsoever, whether statutory,

 

1

 

common law, constitutional, or otherwise,
including but not limited to: all “wrongful discharge” and “constructive
damage” claims; all claims related to any contracts of employment, express or
implied; any claims for defamation, misrepresentation, fraud, or breach of the
covenant of good faith and fair dealing, express or implied; any claim for
negligent or intentional infliction of emotional distress; any claim for
negligence; any claims for attorneys’ fees or costs; any tort claims of any
nature; any claims under federal, state, or municipal statute or ordinance; any
other contract, tort, and employment discrimination claims, including those under
the Age Discrimination in Employment Act, the Older Workers’ Benefit Protection
Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991,
42 U.S.C. Section 1981, the Americans with Disabilities Act (the “ADA”), the
Employee Retirement Income and Security Act, the Federal Rehabilitation Act of
1973, the Federal Family and Medical Leave Act, the Worker Adjustment and
Retraining Notification Act, and any and all other age, sex and disability
claims recognized under the Minnesota Human Rights Act and all other federal,
state, and local laws that arose prior to the date of execution of this
Agreement.

 

Holden also covenants not to sue or start any other
legal proceedings against any party he released above on any of the released
claims.  Holden further covenants not to
assist or provide information to any third party regarding any potential claim
against Zamba or for which Zamba could eventually be liable.  Holden understands that while he is giving
up legal claims he may think he has, Zamba would dispute those claims,
vigorously defend itself, and not pay Holden any of the benefits of this
Agreement.  Thus, this Agreement will
avoid costly and lengthy legal disputes and allow Zamba and Holden to compromise
any differences they may have and buy the peace.

 

4.                                       Waiver of Rights Under Section 1542.  The
parties hereby agree that all rights under section 1542 of the Civil
Code of the State of California are hereby waived.  Section 1542 provides as follows:

 

A general
release does not extend to claims which the creditor does not know or suspect
to exist in his favor at the time of executing the release, which if known by
him must have materially affected his settlement with the debtor.

 

Holden
acknowledges that Section 1542 gives him the right not to release existing
claims of which he is not now aware, unless he voluntarily chooses to waive
this right.  Having been so apprised, he
nevertheless hereby voluntarily waives the rights described in Section 1542, and
elects to assume all risks for claims that now exist in his favor, known or
unknown, arising from the subject matter of this Agreement, except for those
claims that may arise out of the fifth and sixth bullets of his Employment
Agreement.

 

5.                                       Rescission
Notice.  Within fifteen calendar
days after signing this Agreement, Holden has the right to rescind only that
provision of this paragraph releasing Zamba from liability for charges or
actions brought pursuant to the ADEA, Title VII, ADA and the Minnesota Human
Rights Act.  To be effective, the rescission
must be in writing and delivered to Zamba, at 3033 Excelsior Blvd., Suite 200,
Minneapolis, MN 55416.  If delivered by
mail, the rescission must be:

 

A.  Postmarked within the 15-day
period;

B.  Properly addressed to Zamba;
and

C.  Sent by certified mail,
return receipt requested.

 

In the event Holden rescinds this Agreement, Zamba has no obligations
to him under this Agreement and Holden agrees to repay Zamba any funds already
paid to him under this Agreement.

 

6.                                       No
Admission of Liability.  This
Agreement and compliance with this Agreement shall not be construed as an
admission by Zamba of any liability to Holden, whatsoever.  Zamba specifically disclaims 

 

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any liability to Holden for any matter arising from or in any way
connected with Holden’s employment with Zamba and the separation of that
employment.

 

7.                                       Voluntary
Agreement.  Both Zamba and Holden
enter into this Agreement voluntarily, after having had the opportunity to
review it and consult with advisors, including legal counsel, of their
choice.  Holden also acknowledges that
he was given a reasonable period of time to consider whether or not to sign
this Agreement.  This Agreement sets
forth the entire agreement between the parties regarding the subject matter
herein, superseding all other agreements, understandings, memoranda, or
proposals, either written or oral, regarding the same subject matter.  This Agreement may only be modified or
amended by a writing signed by all parties.

 

8.                                       Governing
Law.  This Agreement shall be
governed in all respects, including validity, interpretation and effect, by the
laws of the State of Minnesota, except for its choice of laws principles.  Any action regarding or relating to this
Agreement shall be venued in a state or federal court located in Hennepin
County in the State of Minnesota.

 

9.                                       No
Assignment of Claims. The parties hereto represent and warrant that they
have not transferred or otherwise assigned, either by contract or operation of
law, any of the claims released under this Agreement.

 

10.                                 No
Reliance on Representations.  Each
party to this Agreement represents and acknowledges that in executing this
Agreement that party does not rely and has not relied upon any representation
or statement made by the other party or by any of such other party’s agents,
attorneys, or representatives with regard to the subject matter, basis or
effect of this Agreement or otherwise, other than those representations and
statements specifically stated in this written Agreement.

 

11.                                 Counterparts
and Facsimiles. This Agreement may be executed in one or more counterparts,
which shall be deemed effective upon full execution of this Agreement by all
parties.  Each counterpart shall be
deemed an original, but all of which together shall constitute one and the same
instrument and agreement.  In addition,
a copy of this Agreement executed by a party hereto and telecopied to the other
party shall be deemed to constitute delivery of an originally executed copy of
this Agreement to the other party.  A
facsimile signature shall be enforceable to the same extent as an original
signature.

 

12.                                 Authority.  The parties executing this Agreement
represent that they each have authority to enter into this Agreement, and that
this Agreement is binding on such party and enforceable in accordance with its
terms.  The persons executing this
Agreement on behalf of the parties to this Agreement represent and warrant that
they individually have authority to enter into this Agreement on behalf of such
parties.

 

IN WITNESS WHEREOF, the parties hereby execute this Agreement.

 

	
  Doug Holden

  	
   

  	
  ZAMBA Corporation

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Doug Holden

  	
   

  	
  By:

  	
  /s/ Michael H. Carrel

  
	
   

  	
   

  	
   

  
	
  Name:

  	
  Doug Holden

  	
   

  	
  Name:

  	
  Michael Carrel

  
	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
  CFO

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  6/6/03

  	
   

  	
  Date:

  	
  6/6/03

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ DH  Holden

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ MC  Zamba

  	
   

  	
   

  	
   

  
									

 

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