Document:

EX-10.38

 

Exhibit 10.38

Stock Award Agreement

Acknowledgement of Receipt

 

This Stock Award Agreement Acknowledgement of Receipt is entered into by and between Tween
Brands, Inc. (the “Company”), and the associate of the Company whose name appears below (the
“Associate”) in order to set forth the terms and conditions of Stock Awards granted to the
Associate under the 2005 Stock Option and Performance Incentive Plan (the “Plan”).

Associate Name:

Department:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Award Type	 	Date of	 	Expiration	 	Number of	 	Option	 	Vesting	 	Number of
	 	 	Grant	 	Date	 	Shares Granted	 	Price	 	Date	 	Shares to Vest
	 
	Incentive Stock Options
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Restricted Stock Award
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Restricted Stock Award1
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

Subject to the provisions of the Plan and the attached Stock Award Agreement Master Terms and
Conditions, which are incorporated herein by reference, the Company hereby grants to the Associate
the Stock Awards outlined above.

1Please see Appendix A for a description of the performance criteria applicable to this
Restricted Stock Award.
Please note that vesting will occur upon certification by the Compensation Committee of the Board
of Directors that performance criteria have been satisfied.

The Company and the Associate have executed this Agreement as of the Date of Grant set forth above.

	 	 	 	 	 	 	 	 	 
	      Tween Brands, Inc.	 	 	 	Associate:	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 

Michael W. Rayden
	 	 
	 	 

	 	 

74EX-10.39

 

Exhibit 10.39

SEPARATION PAY, CONFIDENTIALITY & NON-COMPETITION AGREEMENT

     As an executive associate of Tween Brands, Inc. (the “Company”), I have access to trade
secrets and other confidential or proprietary information (“Confidential Information”) of the
Company. I may also originate or develop Confidential Information in connection with the
performance of my duties with the Company. I understand that all of such Confidential Information
as well as any inventions, designs or innovations that I conceive or devise from my use of the
Company’s time, equipment, facilities and support services belong exclusively to the Company, and
that it may not be used for my personal benefit, the benefit of a competitor, or for the benefit of
any person or entity other than the Company.

     THEREFORE, in consideration of separation allowances as described in paragraph 4, and in the
form of the 2006 Tween Brands stock option award to receive 3,000 restricted shares and options to
acquire 5,000 shares of common stock of Tween Brands pursuant to the terms of the agreement and in
recognition of the highly competitive nature of the business conduct by the Company, I agree as
follows:

     1. I will at all times during my employment with the Company and thereafter faithfully hold
the Company’s Confidential Information in the strictest confidence, and I will use my best efforts
and highest diligence to guard against its disclosure to anyone other than as expressly required in
the performance of my duties to the Company. I understand that Confidential Information includes,
among other things, any information and materials pertaining to products, designs, formulas,
packaging or processes, and developments or improvements relating to them; licensing, sourcing,
manufacturing, merchandising, packaging plans and techniques, advertising, marketing and
promotional plans and policies; distribution or sales plans and methods; technical and business
procedures or strategies; sales, profit or other financial information; relationships between the
Company and any of its customers, suppliers or employees; stores and real estate; and the salaries,
compensation, performance history or any other personnel information relating to employees of the
Company. “Confidential Information” does not include information that, now or in the future, is
generally available to the public (other than through improper disclosure by me) or information
acquired from a third party who had authority to disclose it.

     2. Upon my separation from the Company, regardless of the reason for my separation, I will
return to the Company all documents and other materials of any kind that contain Confidential
Information.

     3. If I leave the Company for any reason whatsoever, then for a period of twelve (12) months
after my separation from the Company, I will not directly or indirectly solicit, induce or attempt
to influence any associate to leave the employment of the Company, nor will I in any way assist
anyone else in doing so.

75

 

     4. I understand that my employment with the Company is and at all times shall be “at will,”
which means that either the Company or I may terminate my employment at any time, for any reason or
for no reason. However, if my employment with the Company is terminated by the Company for reasons
other than for cause as defined below, I understand that the Company will continue to pay me my
weekly base salary for a period of fifty-two (52) weeks, minus the deductions required by law and
subject to a deduction of any salary or compensation that I earn from other employment or
self-employment during the time period is question, regardless of when such amount is payable.
Cause for termination of my employment shall exist in the event I: (1) willfully fail to perform my
duties with the Company (other than a failure resulting from my incapacity due to a physical or
mental illness); or (2) plead “guilty” or “no contest” to or am convicted of an act which is
defined as a felony under federal or state law; or (3) engage in willful misconduct in bad faith
which could reasonably be expected to materially harm the Company’s business or its reputation.

     5. If I decide to resign my employment with the Company, I understand the Company requests
that I provide a thirty (30) day prior written notice.

     6. If I leave the Company for any reason, I will not, for a period of twelve (12) months after
my separation from the company, directly or indirectly, work for or contribute to the efforts of
any business organization that competes, or plans to compete, with the Company or its products.

     7. This Agreement will be governed by and interpreted in accordance with Ohio law.

	 	 	 	 	 	 	 
	/s/
Paul C. Carbone

	 	 
	 	July 21, 2006
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Tween Brands, Inc.
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/
William E. May, Jr.

	 	 	 	July 26, 2006	 	 
	Executive Vice President and Chief Operating Officer	 	 	 	 

76EX-10.1

 

Exhibit 10.1

Veramark Technologies, Inc.

3750 Monroe Avenue

Pittsford, NY 14534

	 
	March 29, 2007

Mr. David G. Mazzella

3750 Monroe Avenue

Pittsford, NY 14534

Dear Mr. Mazzella:

     You have announced your decision to retire as an employee of the Corporation on December 31,
2007 and resign your position on your retirement date and concurrent with the end of the term of
your Employment Agreement dated March 28, 2005. The Compensation Committee of the Board of
Directors (the “Committee”) of Veramark Technologies, Inc. (the “Corporation”) believes it to be in
the best interests of the Corporation and its shareholders that, from this date and until your
declared retirement date, your time and efforts be focused on a smooth transition of leadership
and, specifically, on achieving significant improvement in the financial performance of the
Corporation; and, if such improvement as hereinafter defined is realized, to provide you with the
bonus opportunity and payment as set forth in this letter.

     This bonus arrangement is subject to the following terms and conditions:

	 	1.	 	Your bonus opportunity is $165,000 (“Bonus Award”).
	 
	 	2.	 	To receive the Bonus Award, the Corporation must achieve (i) Total Net Sales of not
less than $13,500,000 and (ii) Operating Income of not less than $950,000 for the calendar
year ending December 31, 2007. If only one of these goals is achieved, your bonus will
equal one half of the Bonus Award. If neither of these goals is achieved, no bonus would be
earned. However, the Committee retains the discretion in determining whether a bonus would
be awarded in the event that the minimum goal was not met but the achievement was close to
the goal, and whether more than the specified bonus would be awarded in the event that one
or both of the goals were substantially exceeded.
	 
	 	3.	 	Total Net Sales shall be defined to mean that amount identified as “Total Net Sales” of
the Corporation as set forth in the audited financial report of the Corporation for the
calendar year ending December 31, 2007. Operating Income shall be the Operating Income of
the Corporation based on the audited financial report of the Corporation for the calendar
year ending December 31, 2007 before income taxes and before any expense for the payment to
be made under this bonus arrangement. Total Net Sales and Operating Income, for the
purpose of calculating your Bonus Award, shall be adjusted for any extraordinary items or
transactions not arising out of the ordinary course of business.

– 1 –

 

	 	4.	 	Your bonus arrangement will be administered by the Committee. The Committee will have
full authority and discretion to interpret the provisions of this bonus arrangement, and
any decision or determination it shall make will be final.
	 
	 	5.	 	No payment shall be made under this bonus arrangement should you decide to retire from
the Corporation prior to your stated retirement date or otherwise not be an employee of the
Corporation on December 31, 2007.
	 
	 	6.	 	This bonus arrangement is in addition to any bonus payment you may earn under the
Corporation’s 2007 Management Bonus Plan
	 
	 	7.	 	Any payment earned under this bonus arrangement shall be made within thirty (30) days
of the completion of the audit for the calendar year ending December 31, 2007, less any
applicable withholdings.

     Please evidence your understanding and agreement to the terms and conditions set forth in
this letter.

	 	 	 	 	 
	 	Very truly yours,

Veramark Technologies, Inc.

 	 
	 	By:  	/s/ Charles A. Constantino
 	 
	 	 	Charles A. Constantino, 	 
	 	 	Chairman, Compensation Committee

of the Board of Directors 	 
	 

Acknowledged and agreed:

	 	 	 
	/s/ David G. Mazzella
 

	 	 
	David G. Mazzella
	 	 

March 29, 2007

– 2 –

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