Document:

rlgt-ex102_7.htm

Exhibit 10.2

 

 

INDEPENDENT CONTRACTOR AGREEMENT

 

 

This Independent Contractor Agreement (“Agreement”) is made and effective as of January 1, 2020 (“Effective Date”) by and between Radiant Global Logistics, Inc., a Washington corporation, located at 405 114th Avenue SE, Third Floor, Bellevue, Washington 98004 (“Radiant”), and Tim Boyce, an independent contractor with an address of  1030 North State Street, Apartment 2F, Chicago, Illinois 60610 (“Contractor”).

 

1.Services

 

	
 
	
1.1
	
Services.  Contractor will report to Radiant’s Chief Executive Officer (“CEO”) and provide consulting services to Radiant, specifically Radiant Clipper, as requested by Radiant’s CEO  including, but not limited to the following services (“Services”), specifically:

	
 
	
1.1.1
	
Provide coaching, mentoring and feedback on employee performance;

	
 
	
1.1.2
	
Assist in the assignment of tasks and duties to team members;

	
 
	
1.1.3
	
Assist in setting department goals and objectives consistent with Radiant Clipper strategic goals and market demands;

	
 
	
1.1.4
	
Assist in reviewing and setting operational budget and staffing requirements;

	
 
	
1.1.5
	
Assist in vetting acquisition opportunities. 

1.2Duties and Responsibilities.  Contractor represents and warrants that he will act in the best interests of Radiant at all times and will faithfully discharge his duties and responsibilities hereunder.  Contractor shall not undertake any other business, consulting or work or become a director, officer, employee or agent of any other person, entity or competitor, directly or indirectly, without the express prior written consent of Radiant.  Contractor agrees to comply with any policies and practices adopted and/or implemented by Radiant from time to time and/or subsequently amended by Radiant.

1.3Relationship of the Parties.   Contractor is an independent contractor and consultant of Radiant with respect to the Services provided and received under this Agreement.  The parties hereby disclaim any intention to create an employment relationship or any relationship other than that of independent contractors.  Contractor will not represent himself to be an employee of Radiant, enter into any agreement on Radiant’s behalf or in Radiant’s name or make any effort to obligate or bind Radiant.  Radiant will not control or direct the details and means by which Contractor performs his work, except to the extent necessary to coordinate Contractor’s work with that of Radiant’s personnel.  

 

2.Compensation and Expenses

 

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2.1Compensation.  During the term of this Agreement, Consultant will be paid a gross amount of $6,250.00 each month in consideration for which Consultant will work a minimum of forty (40) hours each month. 

 

2.2Fees; Reimbursement of Certain Expenses.  Subject to the terms and conditions of this Agreement, Radiant will compensate Contractor for reasonable fees and expenses incurred by Consultant while providing the Services.  Acceptable business expenses for business related costs will be reimbursed monthly upon completion of an acceptable expense report submitted to the attention of Bohn Crain, Radiant CEO.

 

2.31099 Information; Invoices.  On or before the Effective Date, Contractor shall provide Radiant with its 1099 tax information.  Radiant will pay Contractor all undisputed amounts via ACH payment within ten (10) days after receipt of Contractor’s acceptable invoice, which invoice will include any substantiating documentation as may be requested by Radiant.  

 

3.Term; Termination 

 

3.1Term and Renewal.  The term of this Agreement will begin on the Effective Date and will continue for a period of one (1) year unless earlier terminated in accordance with this Section 3.  Thereafter, this Agreement may be renewed or extended if and as mutually agreed in writing by the parties. 

 

3.2Termination for Breach.  Either party may terminate this Agreement for material breach or default or Just Cause (as defined below) of the other party on thirty (30) days’ prior written notice to the breaching party.  If the breaching party does not cure the breach or default within the thirty (30) day notice period, this Agreement will automatically terminate at such time.  For purposes of this Agreement, “Just Cause” includes, without limitation: (i) the neglect or willful failure of Contractor to substantially perform his duties herein (except by reason of any bona fide disability); (ii) Contractor’s misconduct involving the property, business or affairs of Radiant and/or any other subsidiary or affiliate of Radiant; (iii) any act of theft, fraud or dishonesty by Contractor; (iv) any material conflict of interest involving Contractor; (v) Contractor’s material breach of this Agreement; (vi) any material failure by Contractor to comply with the policies, rules and regulations of Radiant; or (vii) any other conduct that is determined by a court of competent jurisdiction to constitute just cause for the termination of this Agreement. 

 

3.3Termination for Convenience.  Either party may terminate this Agreement, at any time and without cause, upon ninety (90) days prior written notice.

 

4.Confidentiality and Non-Disclosure.  Any proprietary and/or confidential information provided by Radiant to Contractor under this Agreement shall be treated as confidential ("Confidential Information").  For purposes of this Agreement, "Confidential Information" includes, but is not limited to, information regarding financial statements, business plans or forecasts, operational information, acquisition opportunities, trade secrets, pricing models, marketing strategies, promotional events, vendor and customer lists, and any other information that by its nature and scope is intended to be treated as confidential.

 

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Contractor represents and warrants that during the term of this Agreement and thereafter, Contractor  will: (i) maintain the confidentiality of the Confidential Information during and after the term of this Agreement; (ii) keep all Confidential Information in a secure and confidential location; (iii) not use the Confidential Information for any purpose other than performing his duties or responsibilities under this Agreement; (iv) not disclose Confidential Information to any third party without Radiant’s express prior written consent (unless required by law and then only after notice to Radiant); and (v) upon expiration or termination of this Agreement return to Radiant all Confidential Information, including all copies.

 

5.Non-Competition.  Contractor acknowledges that his Services are unique and extraordinary and that his position gives him access to Confidential Information of material importance to Radiant.  Accordingly, Contractor hereby covenants and agrees that during the term of this Agreement and for a period of twelve (12) months after expiration or termination of this Agreement (“Restricted Period”), Contractor will not, directly or indirectly, either individually, in partnership or jointly or in conjunction with any person as employee, principal, agent, shareholder or in any other manner whatsoever carry on, be engaged with, be involved in, or lend his name to any competitive entity operating within the United States or Canada.

 

6.Non-Solicitation.   During the Restricted Period, Contractor shall not, except on behalf of Radiant, directly or indirectly contact or solicit any customer, potential customer, Radiant employee or agent station of Radiant (collectively defined as “Party”) or assist any person or entity to contact or solicit, directly or indirectly, any such Party on behalf of a competitor of Radiant.  For purposes of this Agreement, the term “customer” means any person or entity that purchased products or services from Radiant, or any other subsidiary, affiliate or network station of Radiant.  

 

7.Governing Law and Waiver of Jury Trial.  This Agreement is governed by the substantive laws of the State of Washington, excluding its conflicts of law rules.  Exclusive venue for any action hereunder will lie in the state and federal courts located in Seattle, King County, Washington, and both parties hereby submit to the jurisdiction of such courts. 

 

8.Severability.  If any provision of this Agreement is invalid or unenforceable in any jurisdiction, the other provisions herein will remain in full force and effect in such jurisdiction and will be liberally construed to effectuate the purpose and intent of this Agreement.

 

9.Waiver of Breach.  The waiver of any breach of any provision of this Agreement will be effective only if in writing.  No such waiver will operate or be construed as a waiver of any subsequent breach.  

 

10.Counterparts.  This Agreement may be executed in two or more counterparts, each of which will be deemed to be an original, but all of which together will be considered one and the same agreement.

 

11.Enforcement.  Contractor acknowledges that irreparable injury will result to Radiant if Contractor breaches any of the covenants contained herein.  Therefore, Contractor expressly agrees that in the event of any such breach or threatened breach, Radiant shall be entitle to seek injunctive relief to restrain any further breach of Contractor’s covenants or any of Contractor’s 

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partners, agents or any other person(s) acting for or with Contractor in this Agreement in addition to any other rights or remedies available to Radiant at law or in equity.

 

12.Entire Agreement/Amendments.  This Agreement and all other exhibits that are incorporated herein by reference, contains the entire agreement of the parties regarding the subject matter described herein.  The provisions of this Agreement may not be amended except by an agreement in writing signed by both parties that references this Agreement and states their intention to amend it.

 

The parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date.

 

 

 

		
	
Radiant Global Logistics, Inc.

 

By:   /s/ Bohn H. Crain

Name:   Bohn H. Crain

Title:   Chief Executive Officer

Date:   December 17, 2019
	
Tim Boyce

 

By:   /s/ Tim Boyce

Name:   Tim Boyce

Title:  

Date:   January 1, 2020

 

4Exhibit

Exhibit 4.1

DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934 

The following description of the Company’s common stock is based upon the Company’s Articles of Incorporation, as amended (“Articles”), the Company’s Bylaws, as amended (“Bylaws”), and applicable provisions of law. We have summarized certain portions of our Articles and Bylaws below. This summary is not complete and is subject to, and is qualified in its entirety by express reference to, the provisions of our Articles and Bylaws, each of which is filed as an exhibit to the Quarterly Report on Form 10‐Q of which this Exhibit 4.1 is a part. 

Our authorized capital stock consists of 900,000,000 shares of common stock, $0.01 par value per share, and 100,000,000 shares of undesignated preferred stock, $0.01 par value per share. 
Common Stock 
Dividend Rights. Subject to the prior or preferential rights of holders of our preferred stock outstanding at the time, holders of our common stock are entitled to receive dividends, if any, as may be declared from time to time by our Board of Directors out of legally available funds.
Voting Rights. Each share of our common stock entitles its holder to one vote on all matters voted on by the shareholders, including the election of directors. We have not provided for cumulative voting for the election of directors in our Articles. 
Right to Receive Liquidation Distributions. Subject to the prior or preferential rights of holders of our preferred stock outstanding at the time, in the event of our liquidation, dissolution, or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to shareholders. 
Rights and Preferences. Holders of our common stock have no preemptive or conversion rights, and there are no redemption or sinking fund provisions applicable to our common stock. 
Preferred Stock 
Our Board of Directors has the authority, without further action by our shareholders, to issue up to 100,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, and restrictions thereof. These rights, preferences, and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms, and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. The issuance of preferred stock by us could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock by us could have the effect of delaying, deferring, or preventing a change in control of our company or other corporate action. No shares of preferred stock are outstanding, and we have no present plan to issue any shares of preferred stock. 
 
Anti-Takeover Provisions 
Washington Anti-Takeover Law 
Washington law imposes restrictions on some transactions between a corporation and significant shareholders. Chapter 23B.19 of the Washington Business Corporation Act generally prohibits a target corporation from engaging in specified “significant business transactions” with an “acquiring person.” This statute could prohibit or delay the accomplishment of mergers or other takeover or change in control attempts with respect to us and, accordingly, may discourage unsolicited attempts to acquire us. An “acquiring person” is generally defined as a person or group of persons that beneficially owns the voting shares entitled to cast votes comprising 10% or more of the voting power of the target corporation. The target corporation may not engage in “significant business transactions,” as defined in Chapter 23B.19, for a period of five years after the date of the transaction in which the person became an acquiring person, unless (1) the significant business transaction or the acquiring person’s purchase of shares was approved by a majority of the members of the target corporation’s board of directors prior to the share acquisition 

causing the person to become an “acquiring person,” or (2) the significant business transaction was both approved by the majority of the members of the target corporation’s board and authorized at a shareholder meeting by at least two-thirds of the votes entitled to be cast by the outstanding voting shares (excluding the acquiring person’s shares or shares over which the acquiring person has voting control) at or subsequent to the acquiring person’s share acquisition. “Significant business transactions” include, among other things: 
		
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	a merger or share exchange with, disposition of assets to, or issuance or redemption of stock to or from, the acquiring person;

		
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	a termination of 5% or more of the employees of the target corporation employed in the State of Washington as a result of the acquiring person’s acquisition of 10% or more of the shares, whether at one time or over the five-year period following the share acquisition;

		
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	a transaction in which the acquiring person is allowed to receive a disproportionate benefit as a shareholder; or

		
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	liquidating or dissolving the target corporation.

After the five-year period, a “significant business transaction” may occur, as long as it complies with “fair price” provisions specified in the statute or is approved at a meeting of shareholders by a majority of the votes entitled to be counted within each voting group entitled to vote separately on the transaction, not counting the votes of shares as to which the acquiring person has beneficial ownership or voting control. A corporation may not “opt out” of this statute. 
Articles of Incorporation, as Amended and Bylaws, as Amended 
Our Articles and Bylaws include a number of provisions that may have the effect of deterring takeovers or delaying or preventing changes in control or changes in our management that a shareholder might deem to be in the shareholder’s best interest. These provisions include the following: 
		
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	our Board of Directors may issue up to 100,000,000 shares of preferred stock, with any rights or preferences as it may designate;

		
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	our Articles and Bylaws provide that (1) until the declassification of our Board of Directors implemented by amendments to our Articles and Bylaws that became effective in January 2019 is fully phased in beginning with our 2022 annual meeting of shareholders, the current three-year terms of certain of our directors will remain in effect until their current terms expire, (2) a director may only be removed from the Board of Directors for cause, and (3) only our Board of Directors may change the size of our Board of Directors, which provisions together generally make it more difficult for shareholders to replace a majority of our Board of Directors;

		
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	Washington law, our Articles and Bylaws limit the ability of shareholders from acting by written consent by requiring unanimous written consent for shareholder action to be effective;

		
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	our Articles and Bylaws limit who may call a special meeting of shareholders to only our Board of Directors, Chairman, President, any Executive Vice President or the Secretary or shareholders owning an aggregate at least 10% of all votes entitled to be cast; 

		
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	our Bylaws provide that shareholders seeking to present proposals before a meeting of shareholders or to nominate candidates for election as directors at a meeting of shareholders must provide timely advance written notice to us in writing, and specify requirements as to the form and content of a shareholder’s notice, which may preclude shareholders from bringing matters before a meeting of shareholders or from making nominations for directors at a meeting of shareholders; and

		
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	our Articles do not provide for cumulative voting for our directors, which may make it more difficult for shareholders owning less than a majority of our capital stock to elect any members to our Board of Directors.

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