Document:

FPIC Insurance Group, Inc. Exhibit 10(nnnn) Kirschner Term Sheet

    Exhibit
      10(nnnn)

    

    

    FPIC
      INSURANCE GROUP, INC.

    GENERAL
      COUNSEL POSITION

    

    Position
      and Title:    General
      Counsel, an officer of FPIC Insurance Group, Inc. (the “Company”) appointed by
      the Board of Directors of the Company pursuant to the authority contained in
      Section 1 of Article III of the Amended and Restated Bylaws of the Company.
      The
      General Counsel is not an employee of the Company or any of its subsidiaries
      and
      performs his duties through the firm of Kirschner & Legler, P.A. The time
      commitment of the position is expected to be approximately 25%-30% of
“full-time”.

    

    Duties:           To
      act as Chief Legal Officer of
      the Company, responsible for (i) dealing with all current legal matters
      affecting the Company and its subsidiaries, including, without limitation,
      oversight of all counsel employed or engaged by the Company, (ii) such specific
      matters that from time to time may be assigned to the General Counsel by the
      Board of Directors or a Committee thereof, by the Chairman of the Board of
      Directors or by the President of the Company, and (iii) developing and
      recommending to the President a long-term framework for the legal function
      of
      the Company and its subsidiaries. The General Counsel generally attends all
      meetings of all Committees of the Board of Directors.

    

    Reporting:         The
      General Counsel
      would report both to the Chairman of the Board of Directors and the President
      of
      the Company.

    

    Term:              
      At
      the
      pleasure of the Board of Directors.

    

    Compensation:        (i)
      A
      retainer of $9,500 per month, payable on the first day of each month to
      Kirschner & Legler, P.A., and (ii) a meeting fee for each meeting of a
      Committee of the Board of Directors attended, without duplication of fees paid
      to the General Counsel as a member of any such Committee, equal in amount to
      the
      meeting fee paid a regular member of such Committee. In addition, the General
      Counsel would, at the specific request of the Chairman of the Board or the
      President of the Company, act as transaction or matter counsel with respect
      to
      specific transactions or activities of the Company or any of its subsidiaries,
      for which Kirschner & Legler, P.A. would be paid its usual fees outside of
      the retainer relationship. Compensation arrangements would be reviewed after
      the
      first six months.exv10w1

 

EXHIBIT 10.1

			
	Service Agreement
	 	December 2005

	 	 	 	 	 
	Between

	 	 	 	Kirk Telecom A/S
	 

	 	 	 	Langmarksvej 34
	 

	 	 	 	DK-8700 Horsens
	 

	 	 	 	(CVR no 15622741)
	 
	 	 	 	 
	 

	 	 	 	(the “Company”)
	 
	 	 	 	 
	and

	 	 	 	Ole Lysgaard Madsen
	 

	 	 	 	Hestehavevej 13
	 

	 	 	 	DK-8270 Højbjerg
	 

	 	 	 	(the “Managing Director”)
	 
	 	 	 	 
	 	 	(collectively the “Parties”)
	 
	 	 	 	 

	1.	 	Appointment
	 
	1.1	 	The Managing Director will serve the Company as President and Managing Director (in Danish
“Administrerende direktør” and “Direktion”) from 3 January 2006. This contract will supersede
all previous contracts between the Company and the Managing Director.
	 
	2.	 	Responsibility
	 
	2.1	 	The Managing Director has the responsibility of the President and Managing Director of the
Company and will be registered as such with the Danish Commerce and Companies Agency. The
employment relationship is not subject to the Danish Salaried Managing Directors Act or the
Danish Holiday Act.
	 
	2.2	 	The Managing Director will be responsible for the day-to-day management of the Company in
compliance with Danish company law and the rules of Kirk Telecom. The day-to-day management
includes all usual commercial and organisational transactions relating to the Company’s
operations, except for transactions which are of unusual nature or great importance
considering the affairs of the Company. The Managing Director may not make the latter
transactions without prior written consent from the board of directors in each individual
case.
	 
	2.3	 	The Managing Director shall in good faith comply with the instructions and directions of the
board of directors and of the CEO of the parent company, currently John Elms.
	 
	2.4	 	Managing Director’s job will include but not be limited to the following responsibilities:
	 
	2.4.1	 	Being President and Managing Director, Kirk A/S and registered person for the Company in
Denmark (in Danish “Direktion”) responsible for directing the day to day execution of Company
strategic plan and operating budget as approved by the parent company to include management of
Company employees, suppliers, attainment of sales and profit targets, payments and legal
obligations.

 

 

	2.4.2	 	Being Executive Vice President, International for SpectraLink Corporation, member of the
executive management team of the parent company, SpectraLink Corporation (and an officer of
the parent company as defined by Securities and Exchange Commission Section 16) responsible
for attainment of the international sales targets for the combined companies’ products and
services as approved by SpectraLink Corporation’s board of directors.
	 
	2.4.3	 	Being a member of the supervisory board of Kirk Scantel A/S responsible for assisting the
chairman in providing direction to the Scantel A/S management; to include approval of the
annual operating plan.
	 
	3.	 	Place of work
	 
	3.1	 	The place of work shall be the Company’s address, currently situated at Langmarksvej 34,
DK-8700 Horsens.
	 
	3.2	 	The Managing Director will be required to travel throughout and outside Denmark.
	 
	4.	 	Working hours and duties
	 
	4.1	 	Normal working hours are 37 hours, however there is no limit on the working hours of the
Managing Director and the Managing Director is not entitled to payment for overtime.
	 
	4.2	 	The Managing Director shall in good faith devote all his working time and skill in the
Company’s service and shall do his best to promote the interests of the Company and parent
company.
	 
	4.3	 	For the duration of his appointment, the Managing Director may not in any capacity be
employed or engaged with or otherwise provide services, whether paid or unpaid, to any
business or person without prior written consent from the board of directors in each
individual case.
	 
	4.4	 	The Managing Director shall, if the Supervisory Board so directs, join the Supervisory Board
and/or the Supervisory Boards of its subsidiaries without additional remuneration.
	 
	4.5	 	The Managing Director will notify the Supervisory Board and the CEO of the parent company of
all affairs of the Company which must be assumed to be of interest to the Supervisory Board or
the SpectraLink Group. The Managing Director has the duty to attend meetings of the
Supervisory Board and any meetings that may be requested by the Supervisory Board or the CEO
of the parent company.
	 
	4.6	 	For the duration of his appointment, the Managing Director may not hold shares or any other
interests in any other business without prior written consent from the Supervisory Board in
each individual case. This provision does not apply to usual investments in listed securities
or similar instruments.
	 
	4.7	 	The Managing Director may not be indebted to the Company and may not, without prior written
consent from the Supervisory Board, provide any guarantee or any other form of security for
obligations of third parties. This provision does not include guarantees or security provided
in non-commercial relationships for the obligations of the spouse/cohabitant or children of
the Managing Director.

 

 

	4.8	 	At the signing of this Agreement, the Managing Director has received and read the parent
company’s internal rules for trading in the parent company’s shares and the handling of inside
information on insider trading.
	 
	5.	 	Remuneration
	 
	5.1	 	The Company will pay the Managing Director an annual base salary of DKK 1.500.000, payable
monthly in arrears on the last day of the month into a bank account designated by the Managing
Director.
	 
	5.2	 	The salary will be reviewed once a year in January, starting in January 2007, by the chairman
of the Supervisory Board or the CEO of the parent company, and in the absence of any other
agreement any adjustment of the salary shall take effect on 1 February.
	 
	5.3	 	The Managing Director will be eligible for a bonus scheme as set forth below.
	 
	5.3.1	 	The Company will pay the Managing Director a variable compensation based upon achievement of
all international sales of the parent company product and Kirk Telecom (exclusive of Kirk
Scantel) sales targets established by the CEO of the parent company, in the amount of DKK
62.500 (at 100% of attainment) paid each quarter in arrears on a pro rata basis above or below
100% based on the percentage of target attainment (based on parent company’s fiscal calendar.)
	 
	5.3.2	 	The Company will pay the Managing Director a variable compensation based upon achievement of
the annual Kirk Telecom (exclusive of Kirk Scantel) pre-tax earnings goal as established by
the CEO of the parent company, in the amount of DKK 250.000 annually (at 100% of attainment)
paid in arrears on a pro rata basis above or below 100% based on the percentage of target
attainment (based on the Kirk Telecom fiscal calendar.)
	 
	6.	 	Pension and insurance
	 
	6.1	 	The Managing Director is covered by the Company’s pension and insurance scheme. The Company
pays a monthly contribution of 10 per cent of the salary set out in Clause 5.1.
	 
	6.2	 	The Managing Director is covered by the Company’s group insurance scheme.
	 
	7.	 	Company car
	 
	7.1	 	The Company will place a car at a price of maximum DKK 1.000.000 at the Managing Director’s
disposal and pay the running and maintenance costs and expenses relating to the car.
	 
	7.2	 	On termination of this Agreement the Managing Director shall immediately return the car and
its accessories to the Company. The Managing Director is not entitled to exercise any lien on
the car or its accessories irrespective of whether the Managing Director has a legitimate
claim against the Company.
	 
	7.3	 	In the event that the Managing Director is suspended or discharged from his duties hereunder,
the Managing Director shall at the Company’s request promptly return the car. As compensation
for the loss of the car, the Company will pay a monthly amount equal to the taxable value of
the car until the date of termination of employment of the Agreement.

 

 

	8.	 	Telephone, PC, Internet and newspaper
	 
	8.1	 	The Company will place a mobile telephone at the Managing Director’s disposal which may be
used for both business and private purposes. The Company will pay all current costs and
expenses incidental to the mobile telephone. The Company may at any time decide that the
mobile telephone may be used for business purposes only.
	 
	8.2	 	The Company will pay for one newspaper delivered to the Managing Director’s private home.
	 
	8.3	 	The Company will place a PC at the Managing Director’s disposal at his private home which may
be used for both business and private purposes. The Company will pay the costs of ISDN/ADSL
connections for both telephone and PC and call charges. The Company may at any time decide
that the PC may be used for business purposes only.
	 
	8.4	 	In the event that the Managing Director is suspended or discharged from his duties hereunder,
the Managing Director shall at the Company’s request promptly return all property of the
Company, including mobile telephone, PC, etc. The Managing Director will not receive any
compensation for the loss of such property.
	 
	9.	 	Travel and entertainment
	 
	9.1	 	The Company will reimburse the Managing Director for all reasonable travelling and
entertainment expenses properly incurred in the service of the Company upon presentation of
vouchers in accordance with the applicable rules and directions.
	 
	10.	 	Holiday
	 
	10.1	 	The Managing Director is not subject to the provisions of the Danish Holiday Act.
	 
	10.2	 	In each calendar year the Managing Director is entitled to the period of holiday laid down in
the Holiday Act in force from time to time. The Managing Director is entitled to his full
salary during holidays. The Managing Director is not entitled to pay in lieu of any accrued
untaken holiday on termination of this Agreement (for whatever reason).
	 
	10.3	 	The Managing Director shall plan his holiday with due regard to the best interests of the
Company, and holidays shall be agreed in advance with the chairman of the board of directors
or the CEO of the parent company.
	 
	11.	 	Confidentiality
	 
	11.1	 	During his appointment and after the termination thereof, the Managing Director may not
disclose to any third party any information on the business affairs of the Company, including
its customers and business associates, etc., unless such information has been released to the
public domain by the Company or for some other reason may naturally be disclosed to a third
party.

 

 

	12.	 	Return of property
	 
	12.1	 	In the event that the Managing Director is suspended or discharged from his duties hereunder,
the Managing Director shall at the Company’s request immediately return all material and
effects belonging to the Company, including all information which is subject to the duty of
confidentiality, notwithstanding the form or medium in which it exists, as well as all
keys/entrance cards, etc.
	 
	13.	 	Intellectual property rights
	 
	13.1	 	All inventions, know-how, improvements, copyrighted works, software, development of new
systems and products, etc., made or created by the Managing Director in the course of his
employment with the Company, irrespective of the medium in which they exist, are the property
of the Company. The Managing Director is not entitled to separate payment for such
intellectual property made or created by the Managing Director as it is included in the
Managing Director’s salary.
	 
	14.	 	Termination
	 
	14.1	 	This Agreement shall terminate without notice on the last day of the month in which the
Managing Director attains the age of 65.
	 
	14.2	 	The Managing Director may terminate this Agreement by 9 months written notice to expire on
the last day of the month, and the Company may terminate this Agreement by 18 months written
notice to expire on the last day of the month.
	 
	14.3	 	In the event that the Managing Director has been incapable of performing his duties hereunder
due to sickness for 6 consecutive months, the Company is, notwithstanding Clause 14.2,
entitled to terminate this Agreement by 6 months’ written notice to expire on the last day of
the month.
	 
	14.4	 	The Managing Director shall have an unconditional right to be disestablished. Whether the
company makes no use of his work-power in the period of termination and irrespectively of
whether he should be employed elsewhere, the Managing Director shall have an unconditional
right to salary in the period of notice.
	 
	14.5	 	In the event that the Managing Director loses control of his estate due to bankruptcy or debt
rescheduling or relief, the Company may terminate this Agreement without notice.
	 
	14.6	 	In case of change of ownership of the majority of votes in the Company except for transfer to
affiliated companies, dissolution of the Company by means of a merger or any other transfer of
the Company to a third party, the notice to be given by the Company to the Managing Director
will be extended by three months. The extension of the notice period takes effect on the
completion date of the transfer.
	 
	15.	 	Non-competition and non-solicitation of customers
	 
	15.1	 	For a period of 12 months from the date of termination of the employment, which means the
date when the Company ceases to pay salary to the Managing Director, the Managing Director may
not directly or indirectly

 

 

	 	 	carry out or be engaged as a self-employed trader, an employee or otherwise in any
activities in or outside Denmark which compete with any aspect of the business of the
Company – specifically the sale of wireless telephones and telephone systems — at the date
of termination of employment of the employment.
	 
	 	 	It is a condition for the above obligation that the Managing Director is not dismissed
without having given reasonable cause, and that the Managing Director has not terminated
this Agreement with justified cause due to the Company’s failure to meet its obligations.
	 
	15.2	 	Non-solicitation of customers: For a period of 12 months from the date of termination, which
means the date when the Company ceases to pay salary to the Managing Director, the Managing
Director may not have any direct or indirect commercial dealings with or contact to customers
or other persons or businesses with whom the Company has had commercial dealings in the past
18 months prior to the date of termination. The obligation hereunder also applies to
customers, etc., listed by the Company in a separate written notice forwarded to the Managing
Director prior to termination.
	 
	15.3	 	For any one violation of the non-competition or non-solicitation clause, the Managing
Director shall by way of liquidated damages pay a sum equal to four months’ salary as
described in Clause 5.1. In case of continuous violation, the Managing Director shall by way
of liquidated damages pay a sum equal to two months’ salary for each month of violation or
part thereof. Payment of the liquidated damages will not release the Managing Director from
his obligations under this Clause. The Managing Director shall indemnify the Company for any
loss that the Company may incur in excess of the liquidated damages. The Company may apply for
an injunction against breach without providing security.
	 
	15.4	 	For as long as the non-competition and/or the non-solicitation clause is effective, the
Managing Director shall notify the Company of any business activity that he may carry out as a
self-employed trader, an employee or otherwise.
	 
	16.	 	Non-solicitation of employees
	 
	16.1	 	For a period of 12 months from the date of termination of employment of the employment, the
Managing Director will not directly or indirectly without prior written consent from the board
of directors of the Company assist in causing the Company’s employees or employees who have
been employed by the Company within a period of 12 months from the date of termination of
employment of the employment to take up employment, enter into an agreement or commence a
cooperation with any business of which the Managing Director is an owner or an employee or is
otherwise associated.
	 
	16.2	 	Any violation of the prohibition against recruitment of employees shall be deemed a material
breach of Clause 16.1. For any one violation the Managing Director shall by way of liquidated
damages pay a sum equal to four months’ salary as described in Clause 5.1. In case of
continuous violation, the Managing Director shall by way of liquidated damages pay a sum of
DKK 200.000 for each month of violation and part thereof. Payment of the liquidated damages
will not release the Managing Director from his obligations under this Clause. The Managing
Director shall indemnify the Company for any loss that the Company may incur in excess of the
liquidated damages.

 

 

	16.3	 	For as long as this clause is effective, the Managing Director shall notify the Company of
any business activity that the Managing Director may carry out as a self-employed trader, an
employee or otherwise.
	 
	17.	 	Miscellaneous
	 
	17.1	 	The Salaried Employees Act and the Holiday Act shall not apply to this Agreement.
	 
	17.2	 	The tax treatment of payments made under this Agreement shall be of no concern to the
Company.
	 
	17.3	 	The Managing Director agrees that all information on the service of the Managing Director may
be disclosed to affiliated companies and/or third parties in connection with such third
party’s potential investment in or acquisition of the Company or its assets. In case of
disclosure of such information, a duty of confidentiality with respect to such information
will be imposed on the recipient of the information.
	 
	17.4	 	In the event of the death of the Managing Director during employment by the Company, Company
shall pay the Managing Director’s salary for the month in which the death occurs, and three
subsequent months of salary to the Managing Director’s spouse/cohabiter alternative the
Managing Director’s children under the age of 18 or the Managing Director’s estate.
	 
	18.	 	Disputes — arbitration
	 
	18.1	 	Any dispute between the Managing Director and the Company relating to this Agreement or its
interpretation and/or the Managing Directors’ employment with the Company shall be decided by
arbitration in accordance with the Rules of Procedure of the Danish Institute of Arbitration
(Danish Arbitration).
	 
	19.	 	Counterparts
	 
	19.1	 	This Agreement is executed in two (2) identical copies, either Party receiving one (1) copy.

	 	 	 	 	 	 	 
	Boulder,
CO USA January    3, 2006

	 	Horsens, Denmark
January    3, 2006	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ JOHN ELMS

	 	/s/ OLE LYSGAARD MADSEN	 	 	 	 
	 

	 	 	 	 	 	 
	John Elms

	 	Ole Lysgaard Madsen	 	 	 	 
	President & Chief Executive Officer
	SpectraLink Corporation

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