Document:

exv10w4

 

EXHIBIT 10.4

AMENDMENT TO EMPLOYMENT AGREEMENT

     THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and
entered into as of the 2nd day of March, 2004, by and between The viaLink
Company (“Company”) and Brian Carter (“Employee”).

RECITALS:

     WHEREAS, Company and Employee entered into that certain Employment
Agreement dated July 9, 1999, which has been previously amended from time to
time (the “Employment Agreement”); and

     WHEREAS, Company and Employee desire to further amend the Employment
Agreement as set forth herein.

     NOW, THEREFORE, in consideration of the mutual promises and covenants
contained in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

     1. Company and Employee acknowledge and agree that Employee’s base salary
shall become $225,000.00 on the effective date of this Amendment, however,
Employee and Company agree that Employee’s base salary of $225,000.00 per year
will be temporarily reduced by $75,000.00 effective as of immediately, and that
Employee’s base salary of $225,000.00 shall resume immediately effective upon
the date of the Company’s achieving cash flow break even status (the “Break
Even Date”). In addition, Company agrees to pay to Employee in lump sum an
amount equal to the difference between: (i) the base salary that Employee would
have received but for his agreement to so temporarily reduce Employee’s base
salary, and (ii) the base salary actually paid to Employee (said difference
being referred to hereinafter as the “Unpaid Deferred Salary”), plus an
additional sum of $150,000.00, said payment to be made within one hundred
eighty (180) days of the Break Even Date. In addition, Company and Employee do
hereby agree that if either: (a) an involuntary termination of Employee’s
employment for any reason other than cause (an “Involuntary Termination”), or
(b) an “Effective Termination” (as defined below) of Employee’s employment,
occurs within 365 days after the effective date of any Change of Control, then
Company shall pay to Employee the sum of $150,000.00 plus an amount equal to
his Unpaid Deferred Salary in 12 equal bi-weekly installments beginning on
Company’s first regularly scheduled pay period after the date of the final
severance payment made pursuant to the provisions set forth in Paragraph No. 2
of this Amendment. Company and Employee further agree that if neither an
Involuntary Termination nor an Effective Termination of Employee’s employment,
occurs within 365 days after the effective date of any Change of Control, then
Company shall pay to Employee the sum of $150,000.00 plus an amount equal to
his Unpaid Deferred Salary in 12 equal bi-weekly installments beginning on
Company’s first regularly scheduled pay period after the earlier to occur of:
(i) the first anniversary date of such Change of Control, and (ii) the first
date that Company achieves cash flow break even status or, in the case of a
merger or other business combination, the first date that the surviving
combined entity achieves cash flow break even status.

     2. Paragraph No. 2 of the Amendment to Employment Agreement dated July 9,
1999, entered into between Company and Employee, is deleted in its entirety and
replace with the following:

“2. Employee’s rate of severance compensation in the event of Employee’s
employment with vialink is terminated by viaLink without cause is hereby
adjusted to provide for payment by viaLink of $225,000.00 (12 months base
salary compensation) in 12 equal bi-weekly installments beginning on
vialink’s first regularly scheduled pay period after the date of such
termination of employment.”

 

 

     3. For purposes of this Amendment, the term “Effective Termination” shall
mean any change in Employee’s status, title, position, responsibilities,
location, or salary, which represents a material adverse change from his
status, title, position, responsibilities, location, or salary as in effect
immediately prior to a Change of Control.

     4. For purposes of this Amendment, the term “Change of Control” shall mean
the happening of any of the following events: (a) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)), other than a trustee or other fiduciary holding
securities of Company under an employee benefit plan of Company, becomes the
“beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange
Act), directly or indirectly, of securities of Company representing 50% or more
of (i) the outstanding shares of common stock of Company or (ii) the combined
voting power of Company’s then-outstanding securities; (b) Company is party to
a merger or consolidation, or series of related transactions, which results in
the voting securities of Company outstanding immediately prior thereto failing
to continue to represent (either by remaining outstanding or by being converted
into voting securities of the surviving or another entity) at least thirty
(30%) percent of the combined voting power of the voting securities of Company
or such surviving or other entity outstanding immediately after such merger or
consolidation; or (c) the sale or disposition of all or substantially all of
Company’s assets (or consummation of any transaction, or series of related
transactions, having similar effect).

     5. Except as previously amended and amended herein, the Employment
Agreement shall remain in full force and effect.

     Executed by the parties to be effective as of the date first written
above.

	 	 	 	 	 
	COMPANY:
	 	EMPLOYEE:
	The viaLink Company	 	 
	 
	 	 	 	 
	By:

	/s/ Bob Noe
	 	/s/ Brian Carter
	

	
 
	 	
 
	Printed Name:

	Robert I. Noe
	 	Brian Carter
	

	 	
 	 	 
	Title:

	CEO	 	 
	

	
 	 	 

2exv10w5

 

EXHIBIT 10.05

AMENDMENT TO EMPLOYMENT AGREEMENT

     THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and
entered into as of the 2nd day of March, 2004, by and between The viaLink
Company (“Company”) and Robert I. Noe (“Employee”).

RECITALS:

     WHEREAS, Company and Employee entered into that certain Employment
Agreement dated April 8, 1999, which has been previously amended from time to
time (the “Employment Agreement”); and

     WHEREAS, Company and Employee desire to further amend the Employment
Agreement as set forth herein.

     NOW, THEREFORE, in consideration of the mutual promises and covenants
contained in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

     1. It is acknowledged that the title and position of Employee became Chief
Executive Officer effective January 24, 2003. In such capacity, Employee shall
perform all duties which are commensurate with this position and any other
duties which may be reasonably assigned to him by the Company’s Board of
Directors. This provision shall supersede any conflicting provisions of
Paragraph Nos. 1 and 2 of the Employment Agreement.

     2. Reference is hereby made to Paragraph No. 1 of that certain Amendment
to Employment Agreement dated July 10, 2001 (the “July 10, 2001 Amendment”),
wherein Employee and Company agreed that Employee’s base salary of $275,000.00
per year would be temporarily reduced by twenty-five percent (25%) effective as
of July 10, 2001, and that Employee’s base salary of $275,000.00 would resume
immediately effective upon the date of the Company’s achieving cash flow break
even status (the “Break Even Date”). Employee’s base salary was reduced by an
additional $5,000.00 by Amendment to Employment Agreement dated August 20, 2001
(the “August 20, 2001 Amendment”). Paragraph No. 1 July 10, 2001 Amendment
provides that Company will pay to Employee in lump sum an amount equal to the
difference between: (i) the base salary that Employee would have received but
for the above-referenced agreements to so temporarily reduce Employee’s base
salary, and (ii) the base salary actually paid to Employee (said difference
being referred to hereinafter as the “Unpaid Deferred Salary”), said payment to
be made within one hundred eighty (180) days of the Break Even Date. At the
time of execution of the July 10, 2001 Amendment and the August 20, 2001
Amendment, neither party seriously considered how the rights and obligations of
the parties might be affected by a “Change of Control” (as defined below) of
the Company. Accordingly, Company and Employee do hereby agree that if either:
(a) an involuntary termination of Employee’s employment for any reason other
than “cause” (as defined in Paragraph No. 6.4 of the Employment Agreement) (an
“Involuntary Termination”), or (b) an “Effective Termination” (as defined
below) of Employee’s employment, occurs within 365 days after the effective
date of any Change of Control, then Company shall pay to Employee an amount
equal to his Unpaid Deferred Salary in 12 equal bi-weekly installments
beginning on Company’s first regularly scheduled pay period after the effective
date of the Involuntary Termination or Effective Termination. Company and
Employee further agree that if neither an Involuntary Termination nor an
Effective Termination of Employee’s employment, occurs within 365 days after
the effective date of any Change of Control, then Company shall pay to Employee
an amount equal to his Unpaid Deferred Salary in 12 equal bi-weekly
installments beginning on Company’s first regularly scheduled pay period after
the earlier to occur of: (i) the first anniversary date of such Change of
Control, and (ii) the first date that Company achieves cash flow break even
status or, in the case of a merger or other business combination, the first
date that the surviving combined entity achieves cash flow break even status.

 

 

     3. Reference is hereby made to Paragraph No. 6.1 of the Employment
Agreement, which provides that if Company terminates the Employment Agreement
“without cause either as of the end of the then current term or at any time
during a then current term, then Employee shall be entitled to receive an
amount equal to his then current annualized salary (emphasis added), payable
upon the effective date of such termination.” Company and Employee acknowledge
and agree that the term “current annualized salary,” as used the preceding
sentence, shall mean Employee’s then current base salary without any salary
reductions described in the first paragraph of Paragraph No. 2 above.

     4. For purposes of this Amendment, the term “Effective Termination” shall
mean any change in Employee’s status, title, position, responsibilities,
location, or salary, which represents a material adverse change from his
status, title, position, responsibilities, location, or salary as in effect
immediately prior to a Change of Control.

     5. For purposes of this Amendment, the term “Change of Control” shall mean
the happening of any of the following events: (a) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)), other than a trustee or other fiduciary holding
securities of Company under an employee benefit plan of Company, becomes the
“beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange
Act), directly or indirectly, of securities of Company representing 50% or more
of (i) the outstanding shares of common stock of Company or (ii) the combined
voting power of Company’s then-outstanding securities; (b) Company is party to
a merger or consolidation, or series of related transactions, which results in
the voting securities of Company outstanding immediately prior thereto failing
to continue to represent (either by remaining outstanding or by being converted
into voting securities of the surviving or another entity) at least thirty
(30%) percent of the combined voting power of the voting securities of Company
or such surviving or other entity outstanding immediately after such merger or
consolidation; or (c) the sale or disposition of all or substantially all of
Company’s assets (or consummation of any transaction, or series of related
transactions, having similar effect).

     6. Except as previously amended and amended herein, the Employment
Agreement shall remain in full force and effect.

     Executed by the parties to be effective as of the date first written
above.

	 	 	 	 	 
	COMPANY:
	 	EMPLOYEE:
	The viaLink Company	 	 
	 
	 	 	 	 
	By:

	/s/ Brian Carter
	 	/s/ Robert I. Noe
	

	
 
	 	
 
	

	 	 	 	Robert I. Noe
	Printed Name:

	Brian Carter	 	 
	

	 	
 	 	 
	Title:

	Vice President

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