Document:

exv10w31

Exhibit 10.31

EMPLOYMENT AGREEMENT

     This Employment Agreement (“Agreement”) is made by and between EVERBANK FINANCIAL CORP
(“Company”), a Florida corporation, and Steven Fischer (“Employee”), as of April
13, 2011 (the “Effective Date”).

Recitals

     A. Company is engaged in the business of providing financial products and services.

     B. Employee and Company desire to enter into an employment agreement that provides Employee
with certain rights and benefits during the term of his employment with Company and in the event of
termination of his employment with the Company.

     C. The Company wishes to protect its competitive business interests by providing certain
express restrictions on Employee’s activities after termination.

     NOW, THEREFORE, Company and Employee do hereby covenant and agree as follows:

AGREEMENT

     1. Employment. The Company hereby employs Employee and Employee hereby accepts
employment upon the terms and conditions set forth in this Agreement.

     2. Duties and Responsibilities. The Employee is engaged by the Company in an executive
capacity as Executive Vice President and Chief Financial Officer. Employee is subject to the
direction and control of the Board of Directors (the “Board”) and shall perform duties as
the Board of the Company may from time to time reasonably request. Employee shall report to the
Chairman and Chief Executive Officer of the Company (the “CEO”). Employee agrees that he
will serve the Company faithfully and to the best of his ability and devote his full working time
to the business affairs of the Company and the promotion of its business in accordance with the
Company’s reasonable directions and specifications.

     3. Term. The term of employment hereunder shall begin on the Effective Date and end on
the second anniversary of the Effective Date (the “Initial Employment Term”), provided that
the Initial Employment Term shall be automatically extended for additional terms of successive one
(1) year periods (each, an “Additional Employment Term”) unless the Company or Employee
gives written notice to the other at least ninety (90) days prior to the expiration of the
Employment Term or then-current Additional Employment Term that the Employee’s employment shall not
be so extended. The Initial Employment Term and each Additional Employment term shall be referred
to herein as the “Employment Term.”

     4. Compensation and Benefits. During the term of this Agreement, in consideration of
services rendered hereunder, Employee shall receive:

          (a) Salary. An annual base salary (“Base Salary”) equal to the amount of
$325,000 and payable at such intervals during the month as the Company regularly pays its other
employees, for the period during which the Employee is employed, through and including the date of
termination of employment in accordance with the termination provisions of this Agreement. Company
shall review Employee’s Base Salary at least annually, with the approval of the Board, and may
adjust the Base Salary in accordance with historical norms and prevailing economic

-1-

 

conditions and considering Employee’s job performance.

          (b) Bonus. An incentive bonus in accordance with any incentive bonus plan for
executive employees of Company in effect at that time (the “Incentive Bonus Plan”) which currently
provides Employee with an opportunity to receive a targeted amount of seventy percent (70%) of his
Base Salary; provided, however, that the Incentive Bonus Plan may be redesigned or altered by the
Board to reflect new corporate objectives, new measurement devices, current economic conditions and
any new responsibilities then assigned to Employee. Employee shall be eligible to participate in
any redesigned Incentive Bonus Plan to the same extent as other executive employees with comparable
responsibilities.

          (c) Fringe Benefits. Employee shall be eligible to participate in employee benefits
provided by Company on the same basis as its other executive employees.

          (d) Regulations. The provisions of 12 CFR Section 563.39 shall be deemed by Company
and Employee to be incorporated into and made a part of this Employment Agreement. Any payments
made to Employee pursuant to this Employment Agreement, or otherwise, are subject to and
conditioned upon their compliance with 12 USC Section 1828(k) and FDIC regulation 12 CFR Part 359,
Golden Parachute and Indemnification Payments.

     5. Termination by Company for Cause. Company shall have the right at any time to
terminate the employment of the Employee for Cause. If Employee is terminated for Cause,
Employee’s Base Salary and other benefits provided in Section 4 hereof shall terminate as of the
effective date of termination and Employee shall forfeit all rights to any other payments provided
under this Agreement). For purposes of this Agreement, “Cause” means:

          (a) Willful Failure to Perform Duties. The willful and substantial failure or refusal
of Employee (unless Employee shall be ill or disabled) to perform duties assigned to Employee
consistent with his executive position, which failure or refusal is not remedied by Employee within
thirty (30) days after written notice of such failure or refusal from the Board or the CEO;

          (b) Material Breach of Fiduciary Duties. A material breach of Employee’s fiduciary
duties to the Company (such as obtaining secret profits from the Company), where such breach
constituted an act or omission performed or made willfully, in bad faith and without a reasonable
belief that such act or omission was within the scope of the Employee’s employment hereunder;

          (c) Gross Negligence or Willful Misconduct. Gross negligence or willful misconduct by
Employee in the execution of Employee’s professional duties which is materially injurious to the
Company; or

          (d) Illegal Conduct. Employee’s engaging in illegal conduct (other than traffic
violations or other minor offenses) which results in a conviction of a felony (or a no contest or
nolo contendere plea thereto) which is not subject to further appeal and which is materially
injurious to the business or public image of the Company.

     6. Termination by Employee.

          (a) Good Reason. Employee may terminate this Agreement for Good

-2-exv4w12

    Exhibit 4.12

 

    English Translation

 

    FORM OF
    INTERNET MARKETING SERVICE AGREEMENT

 

	 	 	 
	

    Party A:

	
 
	
    FAW Mazda Motor Sales Co., Ltd. (“FAWMazda”)

	

    Party B:

	
 
	
    Beijing Bitauto Internet Information Company Limited
    (“BBII”)

	

    Party C:

	
 
	
    Beijing C&I Advertising Company Limited
    (“CIG”)

 

    Party A, Party B and Party C hereby enter into the following
    agreement (“Agreement”) with respect to the
    Internet marketing services that Party A intends to source to
    Party B and Party C.

 

    ARTICLE 1

    

 

    SCOPE OF
    INTERNET MARKETING SERVICES

 

    The Internet marketing services shall include the following:

 

    1.1 Party B shall provide Party A with website creation and
    maintenance services. See Article 2 for details;

 

    1.2 Party B shall provide Party A with Internet public
    relation services. See Article 3 for details;

 

    1.3 Party B shall provide Party A with regional Internet
    marketing support services. See Article 4 for details;

 

    1.4 Party B shall provide Party A with Internet user
    database management services. See Article 5 for
    details; and

 

    1.5 Party C shall provide Party A with Internet advertising
    services. See Article 6 for details.

 

    ARTICLE 2

    

 

    WEBSITE
    CREATION AND MAINTENANCE SERVICES

 

    Details of such services shall be set forth in the relevant
    website creation and maintenance agreements to be entered into
    between Party B and the Department of General Administration and
    Human Resources of Party A.

 

    ARTICLE 3

    

 

    INTERNET
    PUBLIC RELATION SERVICES

 

    3.1  Scope of Online Public Relation
    Services

 

    The Internet public relation services to be provided by Party B
    to Party A shall include Daily Promotion services and online
    campaigns services.

 

    3.2  Daily Promotion Services

 

    The Daily Promotion services shall include developing overall
    strategies and plans for online public relations and promotions;
    issuing press releases on the Internet; managing online public
    relation crises; managing and developing relationships with
    Internet media; monitoring the Internet content and public
    relation crises; maintaining vehicle model information, Internet
    forums and comments; and submitting summary reports on the Daily
    Promotion services provided.

 

    3.3  Online Campaign Services

 

    1) Online campaigns shall include marketing campaigns
    launched independently and other marketing or promotional
    activities that need cooperation on the Internet.

 

    2) Party B shall provide a detailed proposal for each
    Online campaign. The proposal shall set forth the theme,
    purpose, content, process and budget of each campaign and
    support needed for the campaign.

 

    3) The online campaign proposal shall be approved by Party
    A before implementation.

 

    4) The campaign shall be organized and implemented by Party
    B.

 

    5) Based on the project needs, Party B shall draft press
    releases for the campaigns and publish such press releases on
    the Internet media.

 

    6) Party B shall plan, design, prepare and organize
    materials for the online campaign activities. Product
    information used in such online campaign activities shall be
    accurate and fluent.

 

    7) Party A shall provide the necessary support for online
    activities and shall coordinate Party B with other service
    providers of Party A.

 

    8) During the implementation of online campaigns, Party B
    shall keep Party A updated of the implementation progress and
    any changes.

 

    9) Expenses related to online campaigns shall be separately
    agreed upon. Party A agrees to pay Party B *** of the budget of
    each online activity as the implementation service fee.

 

    3.4  Payment of Internet Public Relation
    Fees

 

    1) Payment of Daily Promotion service fees

 

    a) Daily Promotion service fees shall be incorporated into
    the Internet advertising service fees that Party A pays to Party
    C pursuant to Subsection 8 of Article 6 and shall be paid
    by Party C to Party B. Party A shall not make separate payment
    to Party B with regard to Daily Promotion service fees.

 

    2) Payment of Online Campaign fees

 

    a) Within ten days after the end of each campaign, Party B
    shall provide Party A summary report on the project, summary
    report on fees and expenses, and official invoices. Within four
    days after receiving such documents, Party A shall confirm such
    reports and submit to its finance department to process. Party A
    shall make full payment to Party B within *** after Party
    A’s finance department approves such fees and expenses.

 

    b) At the request of Party A, the
    out-of-town
    traveling expenses incurred by Party B in connection with
    organizing online campaigns or attending marketing meetings for
    Party A shall be paid together with the payment of campaign
    costs or periodically as agreed upon. The fixed allowance is ***
    per person per day (including boarding, meals,
    telecommunication, local travel and other expenses). Travel
    expenses shall be reimbursed as actually incurred. Travel by air
    shall be limited to economy class. Travel expenses shall include
    airport construction fee, insurance and fuel surcharge. The
    number of days used to calculate
    out-of-town
    allowances shall commence from the date of hotel check-in.
    Same-day
    trip counts as one day. No third party invoices are needed.

 

    3) Payment of Commercial Taxes

 

    a) Party A shall be responsible for commercial taxes in the
    amount of 5% of the total project cost (agency service fee
    included).

 

    ARTICLE 4

    

 

    REGIONAL
    INTERNET MARKETING SUPPORT SERVICES

 

    1. Party B shall form regional Internet marketing teams and
    assign a regional Internet marketing manager (“Regional
    Manager”) for each regional market to assist Party A with
    its regional marketing efforts.

 

    2. Regional Manager shall be appointed by Party B. Party A
    shall have right to request Party B to change the Regional
    Manager if Party A is not satisfied with
    his/her
    services.

 

    3. Party B shall provide to the following regional Internet
    marketing support services:

 

    1) general strategic planning for regional markets;

 

    2) strategic planning of Internet public relations and
    daily promotion services for regional markets;

 

    3) execution of Internet public relations and daily
    promotion services for regional markets;

 

    4) planning of public relation events for regional markets;

 

    5) execution and management of public relation events for
    regional markets;

 

    6) training on Internet marketing for regional
    dealers; and

 

    7) other support and implementation services related to
    Internet marking in regional markets.

 

    4. Regional Internet marketing service fee

 

    1) Regional Internet marketing service fee shall be
    incorporated into the Internet advertising service fee to be
    paid by Party A to Party C as set forth in Article 6
    subsection 8 hereof and shall be paid by Party C to Party B.
    Party A shall not make separate payment to Party B with regard
    to the regional Internet marketing service fee.

 

    ARTICLE 5

    

 

    INTERNET
    USER DATABASE MANAGEMENT SERVICES

 

    1. Party B shall collect data on Internet users through
    Party A’s Internet marketing activities and shall manage
    such data.

 

    2. Specific database management services shall include:

 

    1) planning of Internet user database management and
    maintenance system;

 

    2) development of the hardware and software infrastructures
    for the Internet user database;

 

    3) security of Internet user database;

 

    4) collection, consolidation, analysis and categorization
    of Internet user data;

 

    5) maintenance of Internet user database, including its
    review, selection and update;

 

    6) targeted utilization of the Internet user database in
    Party A’s Internet marketing campaigns; and

 

    7) providing periodic report timely upon request from Party
    A.

 

    3. Party B shall manage the Internet user database on Party
    A’s behalf. Party A shall have ownership over such
    database. Party A may inspect and use the Internet user database
    at any time.

 

    4. Internet user database management service fee

 

    1) Internet user database management service fee shall be
    incorporated into the Internet advertising service fee to be
    paid by Party A to Party C as set forth in Article 6
    subsection 8 hereof and shall be paid by Party C to Party B.
    Party A shall not make separate payment to Party B with regard
    to the Internet user database management service fee.

 

    ARTICLE 6

    

 

    INTERNET
    ADVERTISING AGENCY SERVICES TO BE PROVIDED BY PARTY C TO PARTY
    A

 

    1. Internet advertising agency services shall include:

 

    1) Internet advertising strategy and advertisements
    placement plans;

 

    2) purchase Internet advertising resources;

 

    3) creation, designing and production of Internet
    advertisements;

 

    4) placement, monitoring and archiving screen copies of
    Internet advertisements;

 

    5) result analysis on Internet advertisements; and

 

    6) planning, production, updates and maintenance of the
    webpage linked to Internet advertisements.

 

    2. Internet advertising strategy and advertisements
    placement plans

 

    According to the general marketing plan and market activity
    arrangement of Party A and taking into consideration the special
    characteristics of Internet marketing, Party C shall provide
    Internet advertising strategy and advertisements placement plans
    for Party A.

 

    3. Purchase Internet advertising resources

 

    1) Party A shall authorize Party C to purchase all the
    Internet advertising resources on its behalf; and

 

    2) Party C agrees to advance the expenses for purchasing
    the Internet advertising resources for Party A.

 

    4. Creation, designing and production of Internet
    advertisements

 

    1) Party C shall create, design and produce Internet
    advertisements and prepare literary works according to the
    Internet advertising implementation proposal;

 

    2) Internet advertisements shall be reviewed and approved
    by Party A before release; and

 

    3) The copyright of the Internet advertisements approved
    and used by Party A shall belong to Party A. The copyright of
    the Internet advertisements rejected by Party shall belong to
    Party C.

 

    5. Placement, monitoring and screenshots of Internet
    advertisements

 

    1) All Party A’s advertisements shall be placed by
    Party C on Party A’s behalf;

 

    2) Party C shall be responsible for reviewing the Internet
    advertisements placed and the effectiveness of hyperlinks;

 

    3) Party C shall provide to Party A Internet advertisement
    monitoring summary on every business day; and

 

    4) Party C shall be responsible for archiving screen copies
    of scheduled Internet advertisements.

 

    6. Result analysis on Internet advertisements

 

    1) Party C shall analyze and summarize the placements of
    Internet advertisements and shall conduct statistical analysis
    on page views, clicks, click rates, click costs, page view costs
    and other data.

 

    2) Party C shall submit monthly and annual reports on the
    above-mentioned items to Party A. Monthly reports shall be
    submitted within the first 10 business days of the following
    month. Annual reports shall be submitted within the first 10
    business days of the following year.

 

    7. Planning, developing, updating and maintaining the
    webpage linked to Internet advertisements

 

    1) Party C shall plan, develop, update and maintain the
    content of web pages linked to the Internet advertisements
    placed on Party A’s behalf.

 

    2) Party C shall ensure that the content of the web pages
    mentioned above be accurate and fluent.

 

    8. Internet Advertising Fee

 

    1) Party A shall pay Party C the purchase costs of Internet
    advertising resources, Internet advertising service fee and
    service taxes.

 

    2) The Internet advertising service fee shall be calculated
    as follows.

 

	 	 	 	 	 
	
 
	
 
	

    Fee Components

	
 
	

    Fee Standard

	 

	

    A. Service Fee

	
 
	

    •   Service fees for Internet advertising
    strategy and placement planning, and implementation planning;

    

    •   Service fees for the creation, designing
    and production of Internet advertisements;

    

    •   Service fees for placements of Internet
    advertisements;

    

    •   Service fees for monitoring Internet
    advertisements and reports generation;

	
 
	
    *** of the total value of the Internet advertisements actually
    placed

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	

    •   Service fees for Internet public
    relation and daily promotions;

	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	

    •   Regional Internet marketing support
    service fee; and

	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	

    •   Internet user database management and
    maintenance fees.

	
 
	
 

	

    B. Taxes

	
 
	
    A*8.5%
	
 
	
    0.85% of the total value of the Internet advertisements actually
    placed

	

    Total

	
 
	
    A+B
	
 
	
    *** of the total value of the Internet advertisements actually
    placed

 

    3) Expenses advanced by Party C for purchasing Internet
    advertising resources and placing Internet advertisements shall
    be cleared on a monthly basis. Within 10 business days after the
    end of each Internet advertisement placement, Party C shall
    submit screen copy reports and invoices to Party A. Party A
    shall pay such expenses within *** after approving such reports
    and invoices.

 

    9. Internet Advertising Agency Services Assessment

 

    1) If Party C fails to provide services according to the
    placement plan and requirements, Party A shall have right to
    request Party C to compensate Party A’s losses with
    resources or services of equivalent value.

 

    2) Party A entrusts Party C to purchase all the Internet
    adverting resources on its behalf. If, regarding the same
    Internet advertising resources, Party A can prove that purchase
    price can be lower than Party C’s quoted price, such
    purchase shall be made at the purchase price provided by Party A.

 

    3) If Party C fails to timely provide Party A the monthly
    and annual Internet advertising summary reports, Party A shall
    have right to deduct no more than *** from Party A’s
    payments to Party C.

 

    4) If there are inaccurate information or major mistakes in
    the web pages linked to the Internet advertisements designed by
    Party C, Party A shall have right to deduct no more than ***
    from Party A’s payments to Party C.

 

    5) If Party C fails to provide relevant screen copy reports
    when Party A confirms there are no mistakes in the advertisement
    placements, Party A shall have right to deduct 5% to 50% of the
    agency service fees for that project.

 

    ARTICLE 7

    

 

    SERVICE
    TEAM

 

    1. Party B and Party C shall form independent service teams
    to coordinate and implement the Internet marketing services.

 

    2. Party B and Party C shall ensure the stability of their
    service teams and make sure that the team members provide and
    implement relevant services during the term of the Agreement.

 

    3. Party A shall designate a contact person to assist Party
    B and Party C with the relevant Internet marketing tasks.

 

    ARTICLE 8

    

 

    TERM OF
    SERVICES

 

    1. The term of the Agreement shall be one year, from
    January 1, 2011 to December 31, 2011.

 

    2. Upon the expiration of the term of services, unless any
    of the three Parties objects, the Agreement will be
    automatically extended for one more term.

 

    ARTICLE 9

    

 

    NON-COMPETE
    CLAUSE

 

    1. During the term of this Agreement, Party B and Party C
    shall not provide the same services set forth in this Agreement
    to any other automakers that directly compete with Party A
    absent consent from Party A.

 

    2. During the term of this Agreement, absent consent from
    Party B or Party C, Party A shall not source part or all of the
    services set forth in Article 1 from any other companies
    unless the following occurs:

 

    1) The services provided by Party B and Party C fail to
    meet the requirements of Party A and continue to fail to meet
    Party A’s requirements upon Party A’s formal request
    for improvement; or

 

    2) Significant losses are caused to Party A due to the
    material breach of contract by Party B or Party C.

 

    ARTICLE 10

    

 

    CONFIDENTIALITY

 

    1. In the course of providing services, any confidential
    information exchanged or disclosed to the other parties shall be
    marked “Confidential” by the Party providing the
    confidential information. The Party receiving such information
    shall limit the access to such information only to the relevant
    persons who need to understand the projects.

 

    2. Without Party A’s consent, Party B and Party C
    shall not disclosed to any fourth party any information on the
    business operation and the internal management process of Party
    A that not already available to the public.

 

    ARTICLE 11

    

 

    LIABILITY
    FOR BREACH OF CONTRACT

 

    1. Party A, Party B and Party C shall strictly comply with
    the Agreement and diligently fulfill their respective
    obligations. In the event of unilateral breach of contract, the
    breaching party shall be responsible for all the losses caused
    by such breach.

 

    2. Party B and Party C shall be responsible for the
    legality of any service and content details provided to Party A.
    Party B and Party C shall be liable for any disputes or
    infringement claims by any fourth party except for those related
    to the services that Party A chooses to proceed with even after
    Party B and Party C advise Party A of the related legal risks.

 

    3. Unless set forth in this Agreement, Party B or Party C
    shall be solely liable for Party A’s losses caused by Party
    B or Party C.

 

    4. Party B or Party C shall be not be liable for any losses
    caused by force majeure except that Party B or Party C shall
    provide written proof issued by relevant authorities.

 

    ARTICLE 12

    

 

    OTHERS

 

    1. This Agreement shall be legally enforceable upon
    execution and affixing seals by the representatives of the
    Parties.

 

    2. This Agreement shall be executed in four official
    copies. Party A shall hold two of such copies while Party B and
    Party C shall hold one of such copies respectively. All four
    copies shall have the same legal effect.

 

    3. The People’s Court located in Party A’s
    jurisdiction shall have jurisdiction over disputes arising out
    of the Agreement.

 

    4. Any written documents, project list, appendix, copies
    and any supplemental agreements signed by the Parties, shall be
    treated as an integral part of the Agreement.

 

    5. The Parties hereto shall engage in friendly negotiation
    to resolve any issues not covered herein.

 

	 	 	 
	

    Party A:

	
 
	
    FAW Mazda Motor Sales Co., Ltd. (seal)

	

    Party B:

	
 
	
    Beijing Bitauto Internet Information Company Limited (seal)

	

    Party C:

	
 
	
    Beijing C&I Advertising Company Limited (seal)

 

    Confirmation
    Letter

 

    Beijing Bitauto Internet Technology Company Limited,

 

    Beijing C&I Advertising Company Limited,

 

    We hereby confirm that the “automakers that directly
    compete with [us]” set forth in the Internet Marketing
    Service Agreement entered into between us and you each year
    means Guangzhou Toyota Automobile Company Limited, Guangzhou
    Honda Automobile Company Limited, Shanghai General Motors Co.,
    Ltd. and Dongfeng Nissan Passenger Vehicle Company.

 

    FAW Mazda Motor Sales Co., Ltd.

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