Document:

Employment Agreement between AMVAC Chemical Corporation and Christopher Hildreth

 Exhibit 10.9 
  
 EMPLOYMENT AGREEMENT 
  

This Employment Agreement (this “Agreement”) is entered into as of February 3, 2003 (the “Effective Date”), by and between AMVAC
CHEMICAL CORPORATION, a California corporation (the “Company”), and CHRISTOPHER HILDRETH (“Employee”) to set forth the terms and conditions of the Company’s employment of Employee. 
  
 NOW, THEREFORE, in consideration of the mutual promises set forth herein and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  
 1. Employment. 
  
 (a) The Company hereby employs Employee and Employee hereby accepts employment by the Company pursuant to the terms and conditions of this Agreement.

  
 (b) Employee is engaged by the Company with such title and
capacity as set forth in the Schedule of Responsibilities attached to this Agreement as Schedule ”A” (the “Schedule of Responsibilities”). Employee shall fully, faithfully, diligently and competently render the services and
perform the duties described in the Schedule of Responsibilities and such other duties not inconsistent therewith that may be assigned to Employee from time to time by the Company. Employee shall conform to and comply with the lawful and reasonable
directions and instructions given to Employee by the Company. 
  
 (c) Employee shall devote Employee’s full time, attention and energies to the business of the Company during Company working hours. Employee shall use Employee’s best efforts to further enhance and develop the best interests and
welfare of the Company. The Company shall be entitled to all of the benefits, profits and other results arising from or incident to all work, services and advice of Employee. 
  
 (d) Employee shall not be employed or engaged in any other business activity, whether or not such activity is pursued for
gain, profit, or other pecuniary advantage, without the prior written consent of the Company. 
  
 (e) The Company will advise Employee of its corporate rules, policies and procedures then in effect and as may be amended or adopted by the Company from time to time in the Company’s sole and absolute discretion
(the “Company Policies”). Employee shall comply with all Company Policies. If there are any inconsistencies between any term of this Agreement and any of the Company Policies, this Agreement shall govern and control. 
  
 2. Period of Employment. Employee’s employment by the
Company shall be for a period of three (3) years, commencing on the Effective Date and ending not later than three (3) years after the Effective Date, unless earlier terminated pursuant to Section 6 of this Agreement (the “Employment
Period”). 
  

 Employment Agreement of Christopher Hildreth 
 -1- 

 3. Compensation. For services rendered to and duties performed by Employee for the Company
during the Employment Period pursuant to the terms and conditions of this Agreement, the Company will offer to Employee such compensation and benefits specifically set forth in the Compensation Schedule attached to this Agreement as Schedule
“B” (collectively, the “Compensation”). 
  
 4.
Business Expenses. The Company, pursuant to its Company Policies, will reimburse Employee for reasonable and necessary expenses incurred within the scope of Employee’s employment in carrying out Employee’s services and duties
under this Agreement, provided that such expenses are (a) deductible by the Company to the maximum extent permitted under the relevant rules and regulations of the Internal Revenue Code, (b) incurred and submitted for reimbursement in accordance
with the Company Policies, and (c) evidenced by itemized and documented accounting of such expenditures. 
  
 5. Withholdings. The Company shall deduct and withhold from all compensation payable to Employee hereunder, including, without limitation,
the Compensation, all applicable federal, state and local income and employment withholding taxes and any other amounts required to be deducted or withheld by the Company under applicable statutes, regulations, ordinances, or orders governing or
requiring the withholding or deduction of amounts otherwise payable as compensation or wages to Employee. 
  
 6. Termination. 
  
 (a) Termination for Cause. The Company shall have the right to terminate Employee’s employment for “Cause” (as defined below) at any
time, without prior notice. In the event of termination of Employee’s employment for Cause, all rights of Employee (and Employee’s dependents and legal representatives) under Sections 1, 2 and 3 of this Agreement shall cease as of the date
of such termination. For purposes of this Agreement, termination for “Cause” by the Company will include a determination made by the Company in its discretion that Employee: 
  
 (1) has been convicted of or pled guilty or nolo contendere to (i) a felony or misdemeanor involving moral
turpitude that is likely to impair Employee’s ability to perform under this Agreement or otherwise have a significant adverse effect upon the Company, any of its affiliates, or any of their businesses or reputations, or (ii) a felony or
misdemeanor which results in a term of incarceration in any correctional institution; 
  

 Employment Agreement of Christopher Hildreth 
 -2- 

 (2) has committed or conspired to commit an act of dishonesty, theft, gross carelessness,
or other misconduct against the Company or any of its affiliates; 
  
 (3) has engaged in the use of alcohol or any illegal drug or intoxicant, or distributed or conspired to distribute any such substance, during working hours or at any facilities of the Company or any of its affiliates;

  
 (4) has committed or conspired to commit any
act or series of acts that constitute harassment or discrimination based on an unlawful classification; 
  
 (5) has committed or conspired to commit any act or series of acts without approval by the Company’s Board of Directors which would
likely have a significant adverse effect on the Company, any of its affiliates, or any of their businesses or reputations; 
  
 (6) has engaged in a willful or negligent failure to perform duties or services for the Company; 
  
 (7) has improperly used or disclosed, or conspired to
improperly use or disclose, confidential or proprietary information of the Company or any of its affiliates; or 
  
 (8) has committed any act or omission that constitutes a material breach by Employee of any of Employee’s obligations or agreements
under this Agreement, but only after the Company has provided notice of such breach to Employee and Employee fails or refuses to correct such breach within ten (10) days of such notice; provided, however, that no prior notice is required for any
event set forth in conditions (1) through (7), inclusive, of this Section 6(a). 
  
 (b) Termination Due to Death or Disability. If Employee, due to physical or mental disability or incapacity as determined by the Company in its discretion, is unable to perform Employee’s duties under this
Agreement, the Company shall have the right to terminate Employee’s employment on thirty (30) days’ prior written notice. If Employee is able to and recommences rendering services and performing Employee’s duties under this Agreement
within such thirty (30)-day notice period, such notice shall be vitiated. In addition, in the event of Employee’s death or disability, Employee or Employee’s personal representatives, as the case may be, shall be entitled to receive all
earned but unpaid compensation through the date of termination on a pro rated basis. 
  
 (c) Termination Without Cause. Notwithstanding anything to the contrary, the Company shall have the right to terminate Employee’s employment without Cause or for any or no reason, at any time, effective
immediately upon notice to Employee. If the Company exercises its rights under this Section 6(c) 
  

 Employment Agreement of Christopher Hildreth 
 -3- 

 and provided that Employee sign a release and waiver acceptable to the Company in its discretion, the Company will pay to
Employee as severance if the termination occurs (i) during the first year of the Employment Period, an amount equal to Employee’s annual base salary; or (ii) during the second or third years of the Employment Period, Fifty Thousand Dollars
($50,000). In the event of termination of Employee’s employment pursuant to this Section 6(c), all rights of Employee (and Employee’s dependents and legal representatives) under Sections 1, 2 and 3 of this Agreement shall cease as of the
date of such termination. 
  
 7. Disclosures and Assignment
of Rights. 
  
 (a) Employee hereby agrees promptly to
disclose to the Company and Employee hereby, without further compensation, assigns and agrees to assign to the Company or its designees, Employee’s entire right, title, and interest in and to all designs, trademarks, logos, business plans,
business models, business names, economic projections, product innovations, discoveries, formulae, processes, manufacturing techniques, trade secrets, customer lists, supplier lists, inventions, research, improvements, ideas, know-how, patents,
service marks, and copyrightable works (collectively, “Inventions”), including, without limitation, all rights to obtain, register, perfect and enforce all Inventions, which relate to Employee’s work for the Company, whether or not
during normal working hours, or which are aided by the use of Company experience, time, material, equipment, or facilities; it being understood, however, that no rights are hereby conveyed in Inventions, if any, made by Employee prior to
Employee’s employment with the Company and disclosed pursuant to Section 7(c) of this Agreement. 
  
 (b) Employee agrees to perform, during and after the Employment Period, all acts deemed necessary or desirable by the Company to permit and assist it, at
its reasonable expense, including execution of documents and assistance and cooperation in legal proceedings, in obtaining and enforcing the full benefits, enjoyments, rights and title in the items assigned to the Company as set forth in Section
7(a) of this Agreement. 
  
 (c) Except as specifically set forth
in the Disclosure of Inventions attached to this Agreement as Schedule ”C” (or if nothing is listed therein), there are no Inventions that Employee wishes to exclude from the operation of Section 7(a) or 7(b) of this Agreement. 

 
 (d) Employee understands, and hereby acknowledges having received notice,
that Sections 7(a) and (b) of this Agreement do not apply to an invention which qualifies fully under the provisions of California Labor Code Section 2780, which is substantially set forth in Schedule “D” attached to this Agreement.

  
 8. Conflicts of Interest. Employee recognizes
that Employee owes a primary and fiduciary duty to the Company and that Employee shall not have any 
  

 Employment Agreement of Christopher Hildreth 
 -4- 

 interest, financial or otherwise, direct or indirect, or engage in any business or transaction of any nature, which is in
conflict with the proper and faithful discharge of Employee’s duties and services as an employee of the Company. Without limiting the generality of the foregoing, Employee shall not, while employed by the Company, directly or indirectly:

  
 (a) be employed by or receive any compensation from a
customer, supplier or competitor of the Company or any of its affiliates; 
  
 (b) have any ownership or financial interest of any nature in a customer, supplier or competitor of the Company or an of its affiliates, except where such ownership is stock in a corporation and consists of less than
one percent (1%) of the outstanding capital stock of the corporation and where such stock is publicly traded and listed on a recognized stock exchange or actively traded in the over-the-counter market; 
  
 (c) have or participate in any dealings on behalf of the Company with a
customer, supplier or competitor of the Company or any of its affiliates that employs, or more than five percent (5%) of whose ownership interest is beneficially held by, Employee’s spouse or any brother, sister, parent, child or grandchild of
Employee or Employee’s spouse, or any person living in Employee’s household or the spouse of any of the foregoing persons; 
  
 (d) engage or participate in any activity, business enterprise, business opportunity, employment, occupation, consulting, or other business activity which
the Company shall reasonably determine to be, or reasonably planned to be, in competition with the Company or any of its affiliates, or to interfere with Employee’s duties as an employee of the Company; or 
  
 (e) solicit, accept or receive any gift having a value of Fifty Dollars ($50)
or more, whether in the form of money, service, loan, hospitality (except for ordinary business meals), thing or promise, or in any other form, under circumstances in which it could reasonably be inferred that the gift was intended to influence
Employee, in the performance of Employee’s duties on behalf of the Company or was intended as a reward for any action on Employee’s part on behalf of the Company, unless such fact or activity is first fully disclosed in writing to the
Company and the Company first approves in writing of such fact or activity. 
  
 9. Information of Others. Employee certifies and acknowledges that Employee will not disclose or utilize in Employee’s work with the Company any secret or confidential information of others
(including any prior employers), or any inventions or innovations of Employee’s own which are not included within the scope of this Agreement. 
  
 10. Confidential Information. The Company and/or one or more of its affiliates may, from time to time, provide Employee with confidential
information, proprietary information, or trade secrets regarding the Company and/or one or 
  

 Employment Agreement of Christopher Hildreth 
 -5- 

 more of its affiliates, including, without limitation, information regarding business methods, plan, products, pricing,
customer lists, and other confidential customer information, including, but not limited to, contact names, purchasing authority(ies), product, know-how and/or customer service requirements, buying patterns and other proprietary information
(collectively, “Confidential Information”). Except in furtherance of the Company’s business and without the Company’s prior written consent, Employee shall not, directly or indirectly, disclose, use, communicate, appropriate, or
exploit any Confidential Information during the Employment Period and thereafter. 
  
 11. Non-Solicitation. Upon termination of Employee’s employment with the Company, for any reason whatsoever, and regardless of whether the Company or Employee initiated the separation, Employee
shall not, for a period of two (2) years from the date of termination, directly or indirectly, solicit or in any other manner contact or deal with any customer or client of the Company whom Employee serviced or had contacts with as an employee of
the Company during the Employment Period for the purpose of offering or attempting to offer to said customer or client any product or service similar to or competitive with any product or service manufactured, sold, distributed, or provided by the
Company as of the date of Employee’s termination, either as a principal, consultant, representative, employee, or more than five percent (5%) stockholder. Employee represents and warrants that Employee’s experience and abilities are such
that compliance with the covenants contained in this Section 11 will not cause any undue hardship or unreasonable restriction on Employee’s ability to earn a livelihood. 
  
 12. Non-Raiding. Employee will not, either during the Employment Period or for a period of two (2) years
thereafter, either directly or indirectly, hire, solicit, induce or attempt to induce or encourage any of the Company’ employees, agents, or contractors to cease or limit providing services to the Company. Employee represents and warrants that
Employee’s experience and abilities are such that compliance with the covenants contained in this Section 12 will not cause any undue hardship or unreasonable restriction on Employee’s ability to earn a livelihood. 
  
 13. Return of Property. Employee agrees that upon request by
the Company, and in any event upon termination of employment, Employee shall turn over to the Company all Confidential Information, Inventions, documents, notes, papers, and other material in whatever media relating to the Company in Employee’s
possession or control, together with all material, documents, notes, pagers, and other work product in whatever media which is connected with or derived from Employee’s services to the Company whether or not such material is in Employee’s
possession or control. 
  
 14. Remedies. Employee
recognizes and acknowledges that a breach of any provision under Sections 7, 8, 9, 10, 11, 12 and/or 13 of this Agreement could not reasonably be compensated in damages in an action at law and that the Company and/or any of its affiliates shall be
entitled to injunctive relief obtainable 
  

 Employment Agreement of Christopher Hildreth 
 -6- 

 in a court of competent jurisdiction, which may include, but shall not be limited to, restraining Employee from rendering
any service which would breach this Agreement. Notwithstanding the foregoing, no remedy conferred by any of the specific provisions of this Agreement, including, without limitation, this Section 14, is intended to be exclusive of any other remedy,
and each and every remedy shall be cumulative and in addition to every other remedy given under this Agreement now or hereafter existing at law or in equity or by statute or otherwise. The election of any one or more remedies by the Company and/or
any of its affiliates shall not constitute a waiver of the right to pursue other available remedies. These obligations shall survive the termination of Employee’s employment. 
  
 15. Arbitration. Except as provided in this Section 15, any and all claims between Employee and the Company,
any of its affiliates and/or any of their respective directors, officers, employees or agents that arise out of Employee’s employment, including, without limitation, disputes involving the terms of this Agreement, Employee’s employment by
the Company or the termination thereof, claims for breach of contract or breach of the covenant of good faith and fair dealing, and any claims of discrimination or other claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination
in Employment Act, the Americans With Disabilities Act, the California Fair Employment and Housing Act, or any other federal, state or local law or regulation now in existence or hereinafter enacted and as amended from time to time concerning in any
way the subject of Employee’s employment with the Company or Employee’s termination, shall be resolved through final and binding arbitration. The only claims not covered by this Section 15 are claims for equitable relief for
violation of any provision under Sections 7, 8, 9, 10, 11, 12 and/or 13 of this Agreement and claims for benefits under the workers’ compensation or unemployment insurance laws, which will be resolved pursuant to those laws. Notices of requests
to arbitrate a covered claim must be made within the applicable statute of limitations. Binding arbitration will be conducted in Orange County, California in accordance with the rules and regulations of the American Arbitration Association
(“AAA”). Discovery may be carried out under the supervision of the arbitrator appointed pursuant to the rules of the AAA. Employee will be responsible for paying the same fee to initiate the arbitration that Employee would pay to file a
civil lawsuit. The Company will pay any remaining cost of the arbitration filing and hearing fees, including the cost of the arbitrator; each side will bear its own attorneys’ fees, that is, the arbitrator will not have authority to award
attorneys’ fees unless a statutory section at issue in the dispute authorizes the award of attorneys’ fees to the prevailing party, in which case the arbitrator has authority to make such award as permitted by the statute in question.

  
 16. Miscellaneous. 
  
 (a) Survival. Sections 1, 2 and 3 of this Agreement, inclusive, shall
terminate upon termination of Employee’s employment with the Company, and all other provisions of this Agreement shall survive such termination and be enforceable in accordance with their terms. 
  

 Employment Agreement of Christopher Hildreth 
 -7- 

 (b) Attorneys’ Fees. In the event that an action or proceeding is brought to enforce any
provision under Sections 7, 8, 9, 10, 11, 12 and/or 13 of this Agreement, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and costs from the non-prevailing party. 
  
 (c) Waiver of Breach. The waiver by the Company of any breach of any
provision herein shall not be binding upon the Company unless in writing signed by the Company, and shall not constitute a continuing waiver or a waiver of any subsequent breach by Employee. 
  
 (d) Assignment. Neither this Agreement nor any of the parties’
rights and obligations hereunder may be assigned by a party without the prior written consent of the other party hereto; provided, however, that the Company may assign any or all of its rights and obligations under this Agreement to (i) an affiliate
of the Company, or (ii) a surviving entity in connection with a merger or consolidation involving the Company or a purchase or sale of all or substantially all of the Company’s assets, so long as such surviving entity assumes the Company’s
obligations under this Agreement. 
  
 (e) Entire Agreement;
Oral Statement Not Binding. This Agreement contains the entire agreement of the parties relating to the subject matter hereof and may not be waived, changed, modified, extended or discharged orally, but only by agreement specifically referencing
this Agreement that is signed by the party against whom enforcement of any such waiver, change, modification, extension or discharge is sought. Employee acknowledges that the Company is not bound by any oral or other unauthorized statements or
promises regarding salary, benefits, length of employment or any other conditions of Employee’s employment. All previous agreements or arrangements between the Company and Employee are hereby terminated. Each party acknowledges and agrees that
no representations, inducements, promises or agreements, orally or otherwise, have been made by either party, or anyone acting on behalf of either party, that are not expressly set forth in this Agreement, and that no other agreement, statement or
promise shall be valid or binding unless modified or amended pursuant to this Section 16(e). This Agreement may not be modified or amended unless in writing and signed by both Employee and the Company, acting through its Chief Executive Officer or
President. 
  
 (f) Severability. If any provision of this
Agreement as applied to any party or to any circumstance should be adjudged by a court of competent jurisdiction or arbitrator, as the case may be, to be void or unenforceable for any reason, the invalidity of that provision shall in no way affect
(to the maximum extent permissible by law) the application of such provision under circumstances different from those adjudicated by the court or arbitrator, the application of any other provision of this Agreement, or the enforceability or
invalidity of this Agreement as a whole. Should any provision of this Agreement become or be deemed invalid, illegal or unenforceable in any jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed
amended 
  

 Employment Agreement of Christopher Hildreth 
 -8- 

 to the extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so
amended without materially altering the intention of the parties, then such provision will be stricken and the remainder of this Agreement shall continue in full force and effect. 
  
 (g) Applicable Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the
State of California without giving effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
California. 
  
 (h) Notice. All notices and other
communications hereunder shall be in writing and shall be deemed duly given and delivered if delivered by messenger, or mailed by registered or certified mail, postage prepaid, return receipt requested, to the parties at the addresses set forth
below (or at such other addresses for a party as shall be specified by like notice) and shall be deemed given on the date on which so delivered by messenger or three (3) days following the date on which so mailed. 
  

			
	If to the Company:	 	4695 MacArthur Boulevard, Suite 1250
	 	 	Newport Beach, California 92660
	 	 	Attn: Chief Executive Officer or President
		
	With copy to:	 	McDermott, Will & Emery
	 	 	18191 Von Karman Avenue
	 	 	Suite 500
	 	 	Irvine, California 92612
	 	 	Attn: John B. Miles, Esq.
		
	If to Employee:	 	                                    
	 	 	                                    ,
or
	 	 	at such other last known address on record
	 	 	with the Company.

  
 (i)
Enforceability. This Agreement does not in any way restrict Employee’s right or the right of the Company to terminate Employee’s employment. This Agreement inures to the benefit of the permitted successors and permitted assigns of
the Company, and is binding upon Employee’s heirs and legal representatives. No course of conduct or failure or delay in enforcing any provision of this Agreement shall affect the validity, binding effect or enforceability of this Agreement.

  
 (j) Headings. The headings of the sections or
subsections in this Agreement are for convenience only and shall not control or affect the meaning or construction or limit the scope or intent of any of the provisions of this Agreement. 
  

 Employment Agreement of Christopher Hildreth 
 -9- 

 (k) Construction. The parties have participated jointly in the negotiation and drafting of this
Agreement. In the event any ambiguity or question of intent arises, this Agreement shall be construed as having been drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any of the provisions hereof. Any act or series of act required to be performed by the Company under this Agreement shall be performed on behalf of the Company by its Chief Executive Officer, President, or other officer duly authorized
by the Company’s Board of Directors. 
  
 (l) Facsimile
Signatures. This Agreement may be executed by a party’s signature transmitted by facsimile, and copies of this Agreement executed and delivered by means of facsimile signatures shall have the same force and effect as copies hereof executed
and delivered with original signatures. The parties may rely upon facsimile signatures as if such signatures were originals. A party executing and delivering this Agreement by facsimile shall promptly thereafter deliver a counterpart signature page
of this Agreement containing said party’s original signature. 
  
 (m) Counterparts. This Agreement may be executed by the parties in one or more counterparts, each of which when so executed shall be an original and all such counterparts shall constitute one and the same instrument. Confirmation of
execution by electronic transmission of a facsimile signature page shall be binding upon any party so confirming. 
  
 * * * * 
  
 [Remainder of page intentionally left blank; signatures follow] 
  

 Employment Agreement of Christopher Hildreth 
 -10- 

 IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement effective as of the date
first written above. 
  

			
	“Company”
	
	AMVAC Chemical Corporation, a
California corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	“Employee”
	
	  

	CHRISTOPHER HILDRETH

  

 Employment Agreement of Christopher Hildreth 
 S-1 

 SCHEDULE “A” 
 TO EMPLOYMENT AGREEMENT 
  
 SCHEDULE OF RESPONSIBILITIES 
  

			
	Title:	 	Senior Vice President/Director of Sales
		
	Location:	 	Employee shall perform the services and duties principally at the Company’s facility located at 4695 MacArthur Boulevard, Suite 1250, Newport Beach, California 92660, or at such other
location or locations as may be designated by the Company from time to time.
		
	Duties:	 	Services and duties commensurate with the position of Senior Vice President/Director of Sales, including, without limitation, the following:
		
	 	 	 •      TBD

		
	 	 	 •      

		
	 	 	 •      

		
	 	 	 •      

  

			
	Dated:                     	 	  

	 	 	Company
		
	Dated:                     	 	  

	 	 	Employee

  

 Employment Agreement of Christopher Hildreth 
 A-1 

 SCHEDULE “B” 
 TO EMPLOYMENT AGREEMENT 
  
 COMPENSATION SCHEDULE 
  
 Annual Base Salary:
Pursuant to the terms and conditions of this Agreement, the Company will pay to Employee an annual base salary of Two Hundred Twenty Thousand Dollars ($220,000), payable in accordance with the Company’s then-existing payroll schedule, policies
and procedures. The Company, in its sole discretion, may from time to time increase Employee’s salary as it deems appropriate, but such increases shall have no effect on or alter the obligations of the Company or other rights of the Employee as
provided under this Agreement. 
  
 Stock Options: Subject to terms and
conditions of the 1994 Stock Incentive Plan, as amended, of American Vanguard Corporation, a Delaware corporation (“American Vanguard”), and the execution of a Stock Option Agreement containing the vesting schedule and other terms and
conditions by and between Employee and American Vanguard, Employee will be granted the right to acquire up to Thirty Thousand (30,000) shares of the Common Stock of American Vanguard. 
  
 Relocation Expenses: Pursuant to the terms and conditions of this Agreement, the Company will reimburse Employee for certain
reasonable expenses actually incurred by Employee and evidenced by appropriate receipts submitted to the Company that directly relate to Employee’s relocation to Southern California in connection with Employee’s employment under this
Agreement: 
  

	 	•	 	actual and reasonable brokerage commissions related to the sale of Employee’s home, not to exceed seven percent (7%) of the home’s sales price; and

  

	 	•	 	actual and reasonable moving and relocation costs to Southern California, not to exceed Twenty-Five Thousand Dollars ($25,000.00) in the aggregate. 

  
 [continued next page] 
  

 Employment Agreement of Christopher Hildreth 
 B-1 

 SCHEDULE “B” 
 TO EMPLOYMENT AGREEMENT 
  
 COMPENSATION SCHEDULE 
  
 [continued from
previous page] 
  
 Car Allowance: Employee shall be provided a car
allowance of One Thousand One Hundred Fifty Dollars ($1150) per month. 
  
 Vacation: During the term of the Employment Period, Employee shall be entitled to a maximum of four (4) weeks of vacation time each calendar year (or a prorated portion thereof). In the event that Employee is unable or fails to take
the total amount of vacation time authorized herein during any calendar year, such unused vacation shall not roll over or be credited to the subsequent year(s). 
  

General Benefits: Pursuant to the terms and conditions of this Agreement, Employee may participate in benefit plans and other perquisites which are made
generally available to the Company’s other employees and for which Employee qualifies. 
  
 Bonus. Employee may receive a bonus; the eligibility, amount, payment terms and other conditions of such bonus shall be subject to determination by the Company’s Board of Directors in its sole and absolute
discretion. 
  

			
	Dated:                     	 	  

	 	 	Company
		
	Dated:                     	 	  

	 	 	Employee

  

 Employment Agreement of Christopher Hildreth 
 B-2 

 SCHEDULE “C” 
 TO EMPLOYMENT AGREEMENT 
  
 DISCLOSURE OF INVENTIONS 
  
 Except as set forth below,
there are no Inventions that I wish to exclude from the operation of Section 7(a) or 7(b) of this Agreement: 
  
 NONE 
  

			
	Dated:                     	 	  

	 	 	Employee

  

 Employment Agreement of Christopher Hildreth 
 C-1 

 SCHEDULE “D” 
 TO EMPLOYMENT AGREEMENT 
  
 CALIFORNIA LABOR CODE SECTION 2780 
  
 California Labor
Code Section 2870 substantially provides: 
  
 (a) Any provision
in an employment agreement which provides that an employee shall assign, or offer to assign, any of his rights in an invention to his employer shall not apply to an invention that the employee developed entirely on his or her own time without using
the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: 
  
 (1) Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably
anticipated research or development of the employer; or 
  
 (2) Result from any work performed by the employee for the employer. 
  
 (b) To the extent that a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being
required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 
  

 Employment Agreement of Christopher Hildreth 
 D-1NCR Director Compensation Program, dated April 27, 2005

 Exhibit 10.1 
  
 NCR DIRECTOR COMPENSATION PROGRAM 
  
 Effective April 27, 2005 
  
 PREAMBLE 
  
 This NCR Director Compensation Program (“Program”) is adopted effective April 27, 2005, and replaces the NCR Director Compensation Program
adopted by the Committee on Directors and Governance effective April 29, 2003. 
  
 The Program is approved and adopted by the Committee on Directors and Governance of the Board of Directors of NCR Corporation (“Company”) pursuant to its authority under Section 4.2 of the NCR Management
Stock Plan, as amended by the Board effective April 18, 2003, to grant stock awards to non-employee directors and to determine the terms and conditions of such awards. 
  
 The Program is intended to provide competitive remuneration to individuals serving as non-employee members of the Board of
Directors of the Company, and to align the interests of the Directors with the interests of the Company’s shareholders. 
  
 ARTICLE I 
  
 Definitions 
  

	1.1	Committee means the Committee on Directors and Governance of the Board of Directors of NCR Corporation. 

  

	1.2	Common Stock means the common stock of NCR Corporation, par value $.01 per share. 

  

	1.3	Company means NCR Corporation, a Maryland corporation. 

  

	1.4	Deferred Stock Award means the annual retainer and/or meeting fees, if any, elected by a Participant to be deferred as set forth in ARTICLE III. 

  

	1.5	Deferred Stock Grant means the initial, annual or mid-year equity grants, if any, elected by a Participant to be deferred as set forth in ARTICLE IV.

  

	1.6	Director means a member of the Board of Directors of NCR Corporation who is not an employee of the Company. 

  

	1.7	Fair Market Value of a share of Common Stock as of a specified date means the average of the high and low sales prices of a share of Common Stock on the New York Stock
Exchange on such date, or if there were no trades on such date, on the day on which a trade occurred next preceding such date. 

	1.8	Management Plan means the NCR Management Stock Plan, adopted effective as of January 1, 1997. 

  

	1.9	Participant means a Director, and any former Director entitled to payment of a benefit from the Program. 

  

	1.10	Year of Service means the approximately 12 month period beginning on the date of an annual shareholders’ meeting of the Company and ending on the day before the
Company’s annual shareholders’ meeting of the next following year, during which an individual serves as a Director. 

  
 ARTICLE II 
  
 Compensation 
  

	2.1	Annual Compensation. A Director will receive the compensation described in Sections 2.2 through 2.5 below, as determined by the Committee in its discretion, based on review
of competitive data. 

  

	2.2	Annual Retainer. For each Year of Service, a Director will receive an annual retainer as determined by the Committee, which may include an additional retainer amount for
Committee Chairs. A Director may elect to receive the retainer in cash, in Common Stock, or as a Deferred Stock Award, as described in ARTICLE III. If no election is made, the retainer will be paid in cash. If paid in cash or Common Stock, payment
of 25% of the annual amount will be made on June 30, September 30, December 31, and March 31, provided the individual is serving as a Director on such dates. If the individual is not serving as a Director on any such date, the remaining amount of
the retainer shall be forfeited. 

  
 If paid in
Common Stock, the number of shares of Common Stock to be paid shall be determined by dividing the cash amount of the retainer due to the Director by the Fair Market Value of the Common Stock on the date the payment is due, rounding up to the next
whole share. 
  

	2.3	Meeting Fees. The Committee may determine that Directors will receive a meeting fee for each meeting attended, and may determine that Committee Chairs will determine whether
a particular special meeting is subject to a meeting fee. Meeting fees, if any, will be paid quarterly at the same time as the retainer, for meetings attended in the immediately preceding quarter, and may be paid in cash, Common Stock or as a
Deferred Stock Award as provided in Article III. 

  

	2.4	Initial Stock Grant. On the date of first election to the Board, each Director will receive an initial equity grant under the Management Plan of a number of whole

 shares of Common Stock as determined by the Committee in its discretion . A Director may elect to receive
such Common Stock as a Deferred Stock Grant as provided in ARTICLE IV. A Director will receive only one initial equity grant for any continuous period served as a Director. If a Director ceases to serve as a Director for a period of at least three
years and is later again elected as a Director, he or she will receive a second initial equity grant for the second period served as a Director. 
  

	2.5	Annual Equity Grant. At each annual shareholders’ meeting of the Company, each individual then serving as a Director or newly elected as a Director shall receive an
equity grant under the Management Plan, determined by the Committee, consisting of Common Stock and/or nonqualified stock options for Common Stock. If stock options are granted, the exercise price for each optioned share will be the Fair Market
Value of one share of Common Stock on the grant date. The stock options will be fully vested and exercisable at grant, and will have a term of ten years from the date of grant. If Common Stock is awarded, the Committee may determine that the shares
will be forfeited if the Director ceases to serve as a director during a restriction period determined by the Committee. A Director may elect to receive such Common Stock (other than Common Stock issued on exercise of a stock option) as a Deferred
Stock Grant as provided in ARTICLE IV. 

  

	2.6	Mid-Year Equity Grants. The Committee in its discretion may grant stock options and/or awards of Common Stock, as described in Section 2.5, to Directors who are newly elected
to the Board after the annual shareholders’ meeting. A Director may elect to receive Common Stock (other than Common Stock issued on exercise of a stock option) awarded as a mid-year grant as a Deferred Stock Grant as provided in ARTICLE IV.

  
 ARTICLE III 
  
 Deferred Stock Awards 
  

	3.1	Election to Defer. For each calendar year, a Director may elect to defer receipt of pay for services relating to the retainer and meeting fees, if any, to be received in that
calendar year, and receive them instead as a Deferred Stock Award. The election must be made prior to the January 1 of the calendar year in which the retainer or meeting fees will be rendered by a Director or such later date as is permitted by
guidance issued under Section 409A of the Internal Revenue Code (the “Code”); provided, however, that a newly-elected Director may make an election within the 30 days prior to the date of his or her election to the Board of Directors. The
election to defer shall be irrevocable commending on January 1 of the calendar year that such election is in effect. A new election to defer may be made for each subsequent calendar year, provided the deferral election is made prior to the January 1
of the calendar year and be irrevocable for the following calendar year. If a new election is not made, or a prior election is not revoked for the immediately succeeding calendar year, the most recent election to defer will remain in effect and be
irrevocable for the following calendar year. 

	3.2	Form of Election. The election to defer must be made in writing. 

  

	3.3	Deferral Periods. A Director may elect to receive the Deferred Stock Award at one of the following times: 

  

	 	(a)	on the date of termination as a Director consistent with the definition of separation of services as defined pursuant to Section 409A of the Code, 

  

	 	(b)	on the date either five or ten years from the date of grant, or 

  

	 	(c)	in one to five equal annual installments, payable on April 30 of each year, beginning either on the next following April 30 after the retainer is earned, or the April 30 next
following the date of termination as a Director. 

  

	3.4	Deferred Stock Awards. If a Director elects to receive the annual retainer and meeting fees, if any, as a Deferred Stock Award, the Company will maintain a deferred stock
account credited, as of the date a payment of the retainer or meeting fee would have otherwise been paid, with a number of stock units equal to the shares of Common Stock (rounded up to the nearest whole share) that could have been purchased with
the amount deferred as of such date at the Fair Market Value of the Common Stock on such date. As of the date any dividend is paid to shareholders of Common Stock, the Director’s deferred stock account shall also be credited with an additional
number of stock units equal to the number of shares of Common Stock (including fractions of a share) that could have been purchased at the Fair Market Value on such date with the dividend paid on the number of shares of Common Stock equivalent to
the number of share units credited to the Director’s deferred stock account. In case of dividends paid in property, the dividend shall be deemed to be the fair market value of the property at the same time of distribution of the dividend, as
determined by the Committee. 

  

	3.5	Distribution of Deferred Stock Award. Payment of a Director’s Deferred Stock Award shall be made at the times elected by the Director at the time of deferral.
Distribution shall be made in cash unless a Participant elects in writing delivered to the Company no later than 60 days prior to the date of distribution (or the date of the first distribution, if made in installments) that all or any designated
portion of the deferred stock account be paid in shares of Common Stock. The amount of a cash distribution shall be determined by multiplying the number of shares attributable to the payment by the Fair Market Value of the Common Stock on the date
the payment is to be made. If distribution is to be made in shares of Common Stock, the Participant shall receive the number of whole shares of Common Stock to which the distribution is equivalent. 

  
  

 ARTICLE IV 
  
 Deferred Stock Grants 
  

	4.1	Election to Defer. A Director may elect to defer receipt of the Common Stock subject to the initial stock grant described in Section 2.4 and any grant of stock made in
connection with the annual or mid-year equity grants described in Sections 2.5 and 2.6, respectively. For the annual equity grant, the election to defer must be made prior to the January 1 of the calendar year in which the grant is made. For both
the initial and mid-year equity grants for newly-elected Directors, such Directors must make the deferral election within the 30 days prior to the date or his or her election to the Board of Directors. The election to defer shall be irrevocable
commencing on January 1 of the calendar year that such election is in effect. 

  
 A new deferral election for annual equity grants may be made for each subsequent calendar year, provided the election to defer is made prior to the January 1 of that calendar year. If a new election is not made, or a
prior election is not revoked for the immediately succeeding calendar year, the most recent election to defer will remain in effect and be irrevocable for the following calendar year. If no deferral election is made, the Common Stock subject to the
annual equity grant will be issued to the Director within a reasonable time after the effective date of the grant. 
  

	4.2	Form of Election. The election to defer must be made in writing. 

  

	4.3	Deferral Periods. A Director may elect to receive the Common Stock at one of the times specified in Section 3.3 above. 

  

	4.4	Deferred Stock Accounts. If a Director elects to defer receipt of the Common Stock subject to the initial, annual or mid-year equity grants, the Company will maintain a
deferred stock account credited, as of the date of election to the Board, with a number of stock units equal to the shares of Common Stock the Director was entitled to receive as the initial, annual, or mid-year equity grant, as applicable. As of
the date any dividend is paid to shareholders of Common Stock, the Director’s deferred stock account shall also be credited with an additional number of stock units equal to the number of shares of Common Stock (including fractions of a share)
that could have been purchased at the Fair Market Value on such date with the dividend paid on the number of shares of Common Stock equivalent to the number of share units credited to the Director’s deferred stock account. In case of dividends
paid in property, the dividend shall be deemed to be the fair market value of the property at the same time of distribution of the dividend, as determined by the Committee. 

  

	4.5	Distribution of Deferred Stock Grant. Payment of a Director’s Deferred Stock Grant shall be made at the times elected by the Director at the time of deferral, in shares
of Common Stock. The Participant shall receive the number of whole shares of Common Stock to which the amount of the distribution is equivalent. 

 ARTICLE V 
  
 Distribution Upon Death 
  

	5.1	Distribution Upon Death. In the event of the death of a Participant, whether before or after termination of employment, any Deferred Cash Award or Deferred Stock Grant to
which he or she was entitled shall be converted to cash and distributed in a lump sum to the Participant’s designated beneficiary, or if no beneficiary is designated, to the Participant’s estate. Distribution of a Participant’s stock
options will be according to the terms of the stock option agreements. 

  

	5.2	Designation of Beneficiary. A Participant may designate an individual or entity as his or her beneficiary to receive payment of any Deferred Cash Award, Deferred Stock Grant,
or retainer or meeting fees due and unpaid on the date of the Participant’s death, by delivering a written designation to the Company. A Participant may from time to time revoke or change any such designation in writing delivered to the
Company. If there is no unrevoked designation on file with the Company at the time of the Participant’s death, or if the designated beneficiary has predeceased the Participant or otherwise ceased to exist, such distribution shall be made in
accordance with the Participant’s will or in the absence of a will, to the administrator of the Participant’s estate. Distribution shall be made as soon as practicable following notification of the Company of the Participant’s death.
A Participant’s deferred stock account shall be converted to cash by multiplying the number of whole and fractional shares of Common Stock to which the Participant’s deferred stock account is equivalent by the Fair Market Value of the
Common Stock on the date of death. 

  
 ARTICLE VI

  
 Administration 
  

	6.1	Withholding Taxes. The Company shall deduct from all distributions under the Program any taxes required to be withheld by federal, state or local governments. If
distributions are made in shares of Common Stock, the Company shall have the right to retain the value of sufficient shares equal to the amount of the tax required to be withheld with respect to such distributions. In lieu of withholding the value
of shares, the Company may require a recipient of a distribution in Common Stock to reimburse the Company for any such taxes required to be withheld upon such terms and conditions as the Company may prescribe. 

  

	6.2	Unfunded Nature of Program. This Program shall be unfunded. The funds used for payment of benefits hereunder shall, until such actual payment, continue to be

 part of the general funds of the Company, and no person other than the Company shall, by virtue of this
Program, have any interest in any such funds. Nothing contained herein shall be deemed to create a trust of any kind or create any fiduciary relationship. To the extent that any person acquires a right to receive payments from the Company under this
Program, such right shall be no greater than the right of any unsecured general creditor of the Company. 
  

	6.3	Non-alienation of Benefits. No benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge,
including assignment pursuant to a domestic relations order, and any attempt to do so shall be void. No such benefit shall, prior to receipt thereof by the Participant, be in any manner liable for or subject to the debts, contracts, liabilities, or
torts of the Participant. 

  

	6.4	Acceleration Upon a Change in Control. As provided in Section 14.2(iv) of the Management Plan, Deferred Stock Awards and Deferred Stock Grants will accelerate and become
payable upon the occurrence of a Change in Control. For purposes of the Program, Change in Control shall be applied to the extent necessary to comply with Section 409A(a)(2)(a)(v) of the Code, and in Treasury Regulations issued pursuant to Section
409A(e) of the Code, rather than as defined in Section 14.1 of the Management Plan. 

  

	6.5	Amendment or Termination of the Program. The Committee at any time may amend or terminate the Program, provided that no such action shall adversely affect the right of any
Participant or Beneficiary to a benefit to which he or she has become entitled pursuant to the Program, and no amendment or termination of the Program can alter the Participant’s deferrals of compensation in noncompliance with Section 409A of
the Code, or the rules and regulations issued pursuant thereto. Any amendment or termination of the Program that is inconsistent with, or in violation of Code Section 409A, shall be void and of no effect. 

  

	6.6	Interpretation of the Program. The Program is intended to comply with the provisions of Section 409A of the Code, and the Treasury Regulations issued pursuant thereto; and
the provisions of the Program will at all times be administered consistent therewith. Any provision of the Program that is inconsistent with, or in violation of, Section 409A of the Code, shall be void and of no effect. The Senior Vice President,
Human Resources, and the General Counsel of the Company are delegated the responsibility to interpret and administer the Program consistent with Section 409A of the Code and to take necessary action pursuant to this Section 6.6 and Section 6.5 to
assure that the Program is administered consistent with such provision.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]