Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

This Agreement
is made this 12th day of September 2005 (the “Effective Date”),
by and between VITACUBE SYSTEMS HOLDINGS,
INC., a Nevada corporation (“Employer” or the “Company”), and John D. Pougnet (“Employee”).  This Agreement supersedes and replaces all
prior employment agreements between the parties whether written or oral.

 

BACKGROUND

 

A.            The
Company desires to employ Employee as its CFO.

 

B.            Employee
desires employment with the Company as its CFO.

 

THEREFORE, in
consideration of the Background, the mutual promises contained herein, and
other good and valuable consideration, the parties agree as follows:

 

1.                                       Employment Duties.

 

1.1.          Employment.  Company agrees to employ Employee as CFO
until terminated as herein provided.  The
Company’s board of directors may amend Employee’s job title and description
from time to time.  Employee hereby
accepts employment by the Company and agrees diligently and faithfully to
perform his duties pursuant to this Agreement. EMPLOYEE ACKNOWLEDGES AND THE
PARTIES AGREE THAT EMPLOYEE IS ONE OF THE COMPANY’S EXECUTIVE AND MANAGEMENT
PERSONNEL AND THAT ALL CONFIDENTIALITY, NON-COMPETE AND NON-SOLICITATION
COVENANTS AND PROVISIONS CONTAINED IN THIS AGREEMENT ARE FULLY ENFORCEABLE
AGAINST EMPLOYEE.

 

1.2.          Time Devoted.
Employee will devote his full business hours and energies to the business of
the Company to accomplish all duties reasonably assigned, and will devote his
best efforts to advance the interests of the Company. During the term of this
Agreement, without the prior approval of the Company’s CEO or board of
directors, Employee shall not be engaged in any other business activity,
whether or not pursued for gain, profit or other pecuniary advantage, which may
interfere with his duties under this Agreement.

 

1.3.          Duties.  Employee’s duties shall include: financial
compliance with state and regulatory agencies, day-to-day accounting and
financial functions of the company, including reporting, forecast and budget
preparation, human resources and all other duties necessary to perform the
foregoing responsibilities or assigned to Employee by the board of
directors.  

 

	
  Employer
                   

  	
   

  	
   

  	
   

  	
  Employee
                 

  

 

1

 

Employee will
have the authority to perform and execute the necessary actions to implement
the financial initiatives set by the Company acting through its board of
directors.

 

2.             Term. 
The term of Employee’s employment hereunder shall commence on the
Effective Date and shall continue for a period of two years (the “Initial Term”).  Employee’s employment shall terminate at the
end of the Initial Term unless extended by mutual agreement of the parties
unless earlier terminated as provided below. 
Employer will provide a 90-day notice of non-renewal.

 

3.             Compensation.

 

3.1.          Salary.  Employee will receive as compensation for all
responsibilities a base salary (“Base Salary”) of $140,000 per year, payable
according to the salary schedule of Employer.

 

3.2.          Stock Options.
Employee also, pursuant to the terms of Employer’s 2003 Stock Incentive Plan
(the “ISOP”), shall receive options (the “Options”) to purchase an aggregate of
50,000 shares of Employer’s common stock at the fair market value of the
company’s closing price on the effective date of this agreement.  Pursuant to the ISOP, the grant of the
Options shall be effective the date of Employee’s employment.  The Options shall vest, effective on December 31,
in equal amounts over a four year period, such that Employee shall receive the
right to purchase 12,500 shares, commencing December 31, 2005.

 

3.3.          Bonuses.  Employer intends to initiate an
incentive executive bonus plan (the “Plan Bonus”) for all executives of the
Company.  Employee will be eligible for
inclusion for the Plan Bonus if and when it is instituted by the Company, but
only on the same basis as other executives may participate and as approved by
the compensation committee of the Board of Directors, or such equivalent Board
body.

 

3.4.          Withholding/Deductions.  All
compensation the Company pays Employee, including commissions, is subject to
all federal, state, and municipal withholding requirements, any applicable
occupational privilege tax and any court ordered deductions such as
garnishments.  Compensation may also be
reduced by deductions Employee authorizes for insurance, 401(k) contributions,
and other similar purposes.

 

3.5.          Final Salary. 
Employee’s final paycheck will be reduced by the amount of any lawful
charge or indebtedness Employee owes the Company.

 

4.             Benefits.

 

4.1.          Voluntary Benefits. 
Employee shall receive all benefits generally available to senior
executive employees of the Company from time to time.  The Company does not promise to provide any
fringe benefits but agrees that, if provided, Employee shall have the 

 

2

 

right to participate.  Such
participation shall be subject to all qualification, vesting and other
requirements of the plans.

 

4.2.          Additional Benefits.  In
addition to the benefits set forth in Section 4.1,

 

4.2.1.       Employee shall be entitled
to four weeks of paid vacation each year, with such vacation to be scheduled
and taken in accordance with the Company’s standard vacation policies
applicable to such personnel.  In
addition, Employee shall be entitled to such sick leave and holidays at full
pay in accordance with the Company’s policies established and in effect from
time to time.

 

4.2.2.       The Company shall maintain
director and officer liability insurance at all times during the term of Employee’s
employment and for a period of three years after Employee’s termination of
employment.

 

4.2.3.       The Company shall reimburse
the Employee for the cost of health insurance for the Employee and his family.

 

4.2.4.       The company shall reimburse
Employee for cellular phone; and home high speed Internet expense associated
with his home office.

 

4.3.          Expense Reimbursement. 
Employee shall be entitled to reimbursement from the Company of all
expenses incurred in performing duties hereunder, including without limitation,
meals, lodging, travel, and business entertainment, subject to the rules and
regulations adopted by the Company for handling of such business expenses.

 

5.             Best Efforts of Employee. 
Employee shall at all times faithfully, with diligence and to the best
of Employee’s ability, experience and talents, perform all duties required of
and from Employee pursuant to the express and implicit terms hereof to the
reasonable satisfaction of the Company.

 

6.             Termination.  Employee’s employment hereunder may be terminated
under the circumstances set forth below.

 

6.1.          Death.  Employee’s employment hereunder shall
terminate immediately upon his death.

 

6.2.          Disability.  Employee’s
employment hereunder shall terminate if Employee becomes physically or mentally
disabled so as to become unable, for a period of more than 90 consecutive
working days, or for more than 90 working days in the aggregate during any 12-month
period, to perform his duties hereunder, to the same extent he performed them
prior to the onset of such disability.

 

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6.3.          Cause.  The Company may terminate Employee’s
employment immediately for “just cause.” 
“Just cause” shall mean the occurrence of any of the following:

 

6.3.1.       Employee materially breaches
or fails to perform his obligations in accordance with the terms and conditions
of this Agreement, provided that the Company shall have delivered to Employee
written notice setting forth Employee’s deficiencies and Employee shall have
not taken reasonable steps to cure such deficiency within five business days of
such notice.

 

6.3.2.       Employee commits a felony
or any other act abhorrent to the community, which a reasonable person would
consider materially damaging to the reputation of the Company or its successors,
or assigns.

 

6.3.3.       Employee commits an act of
fraud, misappropriation, or personal dishonesty in connection with his
employment hereunder.

 

6.3.4.       Employee commits a material and willful
violation of a federal or state law or regulation applicable to the business of
the Company or its status as a public company.

 

6.4.          Good Reason.  Employee may terminate his employment for “good
reason” after giving the Company detailed written notice thereof, if the
Company shall have failed to cure the event or circumstances constituting “good
reason” within five business days after receiving such notice.  Good reason shall mean the occurrence of any
of the following without the written consent of Employee:

 

6.4.1.       Any material breach by the
Company of this Agreement.

 

6.4.2.       Any material reduction in
Employee’s duties or responsibilities.

 

6.4.3.       The Company is the subject
of a regulatory action brought by the Securities and Exchange Commission or a
state securities administrator that results in a finding that the Company
committed a material violation of a securities law arising out of actions by
the Company prior to the date of this Agreement.

 

6.4.4.       A change in control.  A “change in control” means (a) the
acquisition, directly or indirectly by any person or group (within the meaning
of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
1934, as amended) other than a trustee or other fiduciary holding securities
under an employee benefit plan of the Company, of beneficial ownership (within
the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as
amended) of securities possessing more than 30% of the total combined voting
power in the election of directors of the Company’s then-outstanding securities
or (b) a change in a majority of the board of directors in a period of
less than one year.  (c) Earnest
Mathis no longer serves in the role of CEO.

 

4

 

6.5.          Without Cause.  The Company shall have the right to terminate
Employee’s employment hereunder without cause by providing Employee with at
least 30 days prior written notice of such termination.

 

6.6.          Without Good Reason.  Employee shall have the right to terminate
his employment without good reason by providing the Company with at least 30 days
advance written notice of such termination.

 

7.             Compensation Upon Termination.

 

7.1.          If Employee’s employment
is terminated because of disability, for cause by the Company, or without good
reason by Employee, the Company shall only be obligated to pay Employee the
salary and bonuses earned as of the date of termination, and reimbursement of
all outstanding business expenses for which reimbursement is due.

 

7.2.          If the Company
terminates this Agreement without cause, or if Employee resigns for good reason, Employee shall receive from the Company,
as long as Employee does not violate the provisions of Section 8 hereof,
severance pay equal to 12 month’s Base Salary, payable in equal monthly
installments, for a period of 12 months from the date of termination of
employment, and all of Employee’s unvested options will vest and will be
exercisable as provided in the ISOP Agreement. 
Employee is also entitled to all salary and bonuses earned as of the
date of termination and reimbursement of all outstanding business expenses for
which reimbursement is due.  At the
option of the Company, the payments due hereunder may be paid in a lump sum
rather than in installments.

 

7.3.          If Employee’s employment
is terminated as a result of his death, the Company shall pay Employee’s spouse
or estate, all salary and bonuses earned as of the date of termination and
reimbursement of all outstanding business expenses for which reimbursement is
due.

 

8.             Covenants and Conditions.

 

8.1.          Confidentiality.  Employee
acknowledges that during the course of Employee’s employment with the Company,
Employee will be exposed to and have access to confidential and proprietary
information including trade secrets concerning the business and affairs of the
Company.  Employee acknowledges that such
confidential and proprietary information has been and will continue to be of
central importance to the Company and that disclosure of it to or its use by
others could cause substantial loss to the Company.  Employee acknowledges that the Company
developed such confidential and proprietary information for its exclusive use
and benefit and it is an exclusive, confidential, and proprietary asset of the
Company.  Accordingly, Employee agrees as
follows:

 

Employee,
except with the prior written consent of the Company or as may be required by
law or any legal process, will not, at any time during or after employment, use
(except in connection with employment by the Company) or

 

5

 

disclose to
any person or entity any confidential or proprietary information of the Company
which was obtained by Employee as a result of Employee’s employment with the
Company, and shall hold all of the same confidential.  For purposes of this Agreement, “confidential
or proprietary information” means information, whether written or otherwise,
which has a business purpose and is not known or generally available from
sources outside the Company, concerning, among other things, (a) the
Company’s business operations, internal structure, and financial affairs,
including, but not limited to, its distributors, customers, products,
endorsers, celebrities and affiliates, services, employees, forecasts, sales
and marketing methods, costs, inventories, and sources of supply; (b) the
current, prospective, or past distributors or customers of the Company, their
buying habits, and the prices at which products are offered or sold to them; (c) past,
present, or future contracts held by the Company respecting the business or
operations of the Company or distributors or customers, or suppliers of the
Company; (d) the work performed by Employee for the Company; and (e) all
other compilations of information which relate to the business of the Company.

 

The
restrictions and obligations in this Section 8.1 shall survive in
perpetuity the termination of this Agreement and the termination of Employee’s
employment by the Company.

 

8.2.          Company Property.  All
contracts, agreements, financial books, records, instruments and documents;
distributor lists, customer lists, memoranda, data, reports, programs,
software, tapes; rolodexes; telephone and address books; research; bids;
proposals; drawings; print-outs; graphs; listings; programming; and any other
instruments, records, or documents relating or pertaining to (a) distributors
or customers of the Company; (b) any employee or independent contractor of
the Company; (c) suppliers of the Company; (d) athlete and celebrity
endorsers of the Company, or (e) the services rendered by Employee to the
Company, or in connection with the Company business (collectively the “Records”),
shall at all times be and remain the property of the Company.  Except as authorized by the Company, Employee
agrees not to retain or carry away from the premises of the Company any
Records, copies of Records, equipment, or any other materials or matter of any
kind, which are the property of the Company. 
Upon the termination for any reason of employment with the Company,
Employee shall immediately turnover to the Company all Records, copies of any
Records, equipment, and other materials or matter which are in Employee’s
possession or control and which are the property of the Company.

 

8.3.          Developments.  Employee acknowledges that all designs,
drawings, graphs, sketches, print-outs, formulas, software, inventions,
discoveries, innovations, new technology, endorsement relationships or other
developments (collectively called “Developments”) conceived or developed by
Employee during the term of employment, which Developments are related in any
way to the business of the Company then being conducted or proposed to be
conducted by the Company or to the business of any distributor or customer or
prospective distributor or customer of the Company, are and will be the
exclusive property of the Company, and shall be subject to the provisions of Section 8.1
of 

 

6

 

this
Agreement.  Employee will promptly notify
the Company of any such Developments. 
Employee shall, when appropriate and upon request of the Company,
actively assist the Company in executing all papers and performing all other
lawful acts, which the Company deems necessary or advisable for the securing of
legal protection for any such Developments, whether through patent, copyright,
or any other means.  Employee further
agrees that, upon request of the Company, and at no charge, Employee will
assign any rights arising out of such Developments to the Company.

 

8.4.          Papers, Drawings, and
Other Documents.  Employee agrees not to make or permit to be
made, except in the pursuance of employment duties under the terms of this
Agreement and for the sole use and account of the Company, any copies,
abstracts, or summaries of any designs, papers, drawings, or any other
documents of any kind which may come into Employee’s possession and which
relate or refer to the Company or its business. 
Employee grants to the Company all rights to possession and all title in
and to any such designs, papers, drawings, or other documents, or copies, abstracts,
or summaries thereof, which come into the possession of Employee within the
period of employment by the Company and which relate or refer to the Company’s
business.  Notwithstanding anything
herein to the contrary, Employee may retain any course materials Employee
obtains from attending private or college courses or seminars.  If the Company desires a copy of such
materials, Employee shall provide it to the Company for copying, at the Company’s
expense, upon reasonable notice to Employee.

 

8.5.          Security Regulations.  Employee
agrees to abide by the Company’s personnel policies and all security
regulations and rules of employment adopted by the Company from time to
time.

 

8.6.          Covenant Not to
Compete.  Employee agrees that during
the term of this Agreement and for a period of 12 months following termination
of this Agreement, he will not (except through the ownership of not more than
5% of the securities of an entity listed on the NASDAQ Stock Market or a
national securities exchange), directly or indirectly, as a proprietor,
director, officer, employee, partner, stockholder, consultant, owner or
otherwise, render services to or participate in the affairs of any Competitive
Business.  A “Competitive Business” shall
mean any business that engages in the manufacturing, selling, marketing, developing,
packaging, or distributing of vitamins, nutritional supplements or any other
product being manufactured, sold, developed, marketed or distributed by the
Company, in any geographic area in which the Company has business or
distributor operations at the time of Employee’s termination of employment.

 

8.7.          Nonsolicitation of
Employees.  Employee agrees that
during the term of this Employment and for a period of 12 months following
termination of this Agreement, Employee will not (except on behalf of the
ownership of not more than 5% of the securities of any entity listed on the
NASDAQ Stock Market or a national securities exchange), directly or indirectly,
as proprietor, director, officer, employee, partner, stockholder, consultant,
owner or otherwise, solicit or attempt to solicit the employment of, hire, or
assist or 

 

7

 

participate in
any manner in the hiring or recruitment of any employee or independent
contractor employed or retained by the Company, or any former employee or
independent contractor whose employment or retention by the Company has ceased
within six months prior to the date of such solicitation, hire or other
involvement in the hiring or recruitment or such persons.

 

8.8.          Scope and Reasonableness.  The
parties to this Agreement expressly agree and contract that it is not their
intention to violate any policy, statute or common law.   The parties to this Agreement agree that the
limitations contained in Section 8 with respect to time, geographical
area, and scope of activity are reasonable. 
However, if any court shall determine that the time, geographical area,
or scope of activity of any restriction contained in Section 8 is
unenforceable, it is the intention of the parties that such restrictive
covenant set forth herein shall not thereby be terminated but shall be deemed
amended to the extent required to render it valid and enforceable.

 

8.9.          Remedies for Breach.  The
parties acknowledge that breach of Section 8 of this Agreement by Employee
will result in immediate, substantial, and irreparable harm to the
Company.  The parties therefore agree
that the Company shall have, in addition to any remedy available to it at law
or in equity, the right to enforce the terms of Section 8 of this Agreement
by the remedy of specific performance or injunction upon proper application to
a court of competent jurisdiction. 
Employee agrees that the Company does not need to post a bond to obtain
an injunction and waives Employee’s rights to require such a bond.

 

9.             Representations of Employee.  Employee
hereby represents and warrants that as of the date hereof, Employee is not a
party to any agreement, contract, or understanding, and that no facts or
circumstances exist that would in any way restrict or prohibit Employee from
undertaking or performing any of Employee’s obligations under this
Agreement.  Furthermore, Employee
understands and acknowledges that Employee may have confidentiality obligations
to prior employers under common law, statute, or contract.  Employee represents and warrants that in the
course of rendering services to the Company, Employee will not use or otherwise
disclose any confidential or proprietary information obtained by Employee in
connection with any prior employment. 
Employee shall indemnify and hold the Company harmless from any claims,
demands, costs, or liabilities (including attorneys’ fees and disbursements)
incurred by the Company in connection with or resulting from Employee’s breach
of the representations set forth in this 

Section 9.

 

10.           Assignment.  Employee’s
obligations and duties under this Agreement are personal in nature.  Employee shall not, without the consent of
the Company, assign or transfer this Agreement or any rights or obligations
hereunder.  The Company may assign this
Agreement, or any benefit, duty, or obligation under this Agreement.

 

11.           Construction.  The titles
appearing herein are used for purposes of convenience only and shall in no way
change the meaning of this Agreement.

 

8

 

12.           Notices.   All notices,
requests, demands, consents, and other communications which are required or may
be given under this Agreement (collectively, the “Notices”) shall be in writing
and shall be deemed received (a) if given by facsimile, when transmitted,
and confirmation received, if transmitted on a business day before 5:00 p.m.
local time and, otherwise, on the next business day following transmission; (b) if
given by email, when transmitted, if transmitted on a business day before 5:00 p.m.
local time and, otherwise, on the next business day following transmission; (c) if
given by certified mail, return receipt requested, postage pre-paid, three
business days after being deposited in the United States mail; (d) if
given by a nationally recognized overnight courier service, one business day
after being so deposited; and (e) if personally delivered, when received
or personally delivered.  The mailing
address, facsimile number, and email address of the parties are as follows:

 

If to
Employee, address to:

 

John D.
Pougnet

At his home
address, email address or fax number

most recently
on file with the Company

 

If to Company,
address to:

 

Vitacube
Systems Holdings, Inc.

408 S. Holly
Street

Denver,
CO  80246

Facsimile:  303-316-4116

Email:  marypat@v3s.com

 

Any party may, from time to time, specify a different
address or facsimile number by giving Notice in accordance with this section.

 

13.           Entire Agreement.  This
Agreement constitutes the full and complete understanding and agreement of the
parties, supersedes all prior understandings and agreements as to the
employment of Employee, and cannot be amended, changed, modified, or terminated
without the consent, in writing, of the parties hereto.

 

14.           Non-Waiver.  The waiver by
either party of a breach of any term of this Agreement shall not operate or be
construed as a waiver of any subsequent breach thereof.

 

15.           Severability.  If any of the
provisions of this Agreement shall be or become invalid or illegal under any
provision of applicable law or for any other reason, the remainder of the
Agreement shall not be affected and shall remain in full force and effect.

 

16.           Governing Law - Venue.   THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF COLORADO (WITHOUT REGARD TO ITS RULES OF CONFLICTS OF LAWS).

 

9

 

17.           Arbitration.  Any dispute relating to this Agreement,
or to the breach of this Agreement, except such as may concern Section 8,
arising between Employer and Employee, shall be settled by arbitration in
accordance with the commercial arbitration rules of the American
Arbitration Association (“AAA”), which arbitration may be initiated by any
party hereto by written notice to the other of such party’s desire to arbitrate
the dispute.  The arbitration proceedings
shall take place in Denver, Colorado, and shall be administered by AAA.
Colorado’s Uniform Arbitration Act of 1975, C.R.S. §13-22-201 et seq. as
amended, shall govern any arbitration under this Agreement.  Employer’s right to equitable relief set
forth in Section 8 may be brought and enforced in any court of competent
jurisdiction.  Employee agrees and
consents to the District Court of the City and County of Denver, State of
Colorado, having jurisdiction over any such dispute.

 

18.           Counterparts; Facsimiles.   This Agreement may be executed in
counterparts, each of which shall be deemed an original and which together
shall constitute a single instrument. 
This Agreement may be executed and delivered by facsimile transmission,
all with the same force and effect as if the same was a fully executed and
delivered original manual counterpart

 

[ signatures appear on following page ]

 

10

 

Dated as of
the day and year first above written.

 

 

	
   

  	
  VITACUBE SYSTEMS HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Earnest Mathis
  Jr

  
	
   

  	
   

  	
  Earnest
  Mathis Jr., Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ John D Pougnet

  
	
   

  	
  John D.
  Pougnet

  

 

11Exhibit
10.1

 

AMENDMENT NO. 1

TO

CHIEF EXECUTIVE OFFICER STOCKHOLDERS AGREEMENT

 

March 17, 2005

 

WHEREAS,
Samsonite Corporation (the “Company”) has previously entered into the Chief
Executive Officer Stockholders Agreement (the “Agreement”), dated as of March
2, 2004, by and among the Company, ACOF Management, L.P., Bain Capital (Europe)
LLC, Ontario Teachers’ Pension Plan Board, (v) Marcello Bottoli, (vi)
Stonebridge Development Limited and (vii) The Bottoli Trust (now known as “The
Carry Trust”, said Carry Trust deemed to be the “CEO Trust”).  Capitalized terms used but not defined herein
shall have the meaning ascribed to such terms in the Agreement;

 

WHEREAS, the
Agreement currently provides, among other things, that “New Executive
Securities” shall be subject to the terms thereof, which term is defined to
include Common Stock acquired by the CEO, the CEO Trust or the CEO Purchase
Vehicle pursuant to the grant or exercise of Company stock options or the
conversion of New Preferred Shares;

 

WHEREAS, the
Compensation Committee (the “Committee”) of the Board of Directors of the
Company (the “Board”) has determined to amend and restate the Company’s FY 1999
Stock Option and Incentive Award Plan, as amended, in order, among other
things, to provide for the grant of awards other than stock options, which
awards may be, in whole or in part, in the form of, exercised for or settled in
shares of the Company’s common stock, par value $0.01 per share (the “Common
Stock”);

 

WHEREAS, the
Committee has determined that it is in the best interests of the Company and
its stockholders that any shares of Common Stock acquired through the grant,
exercise or settlement of Common Stock-based awards other than stock options
should also be subject to the Agreement; and

 

WHEREAS, pursuant
to the April 7, 2004 consent action of the Executive Committee of the Board
certain individuals (the “Authorized Officers”) are authorized to approve,
prepare and execute changes to the Agreement;

 

NOW,
THEREFORE, the Agreement is hereby amended as follows:

 

1.                                       The
sixth recital of the Agreement is amended in its entirety to read as follows:

 

WHEREAS, the
CEO, the CEO Trust or the CEO Purchase Vehicle may also (i) receive stock
options or other awards from the Company from time to time that may be in the
form of, exercised for, or settled in, shares of common stock of the Company
and (ii) acquire common stock of the Company as a result of the conversion of
New Preferred Shares (in each case, such shares of common stock of the Company,
the “New Common Stock”), and the New Common Stock together with the New
Preferred Shares held by the CEO Purchase Vehicle and its respective Permitted
Transferees (collectively, the “New Executive Securities”) shall be
subject to the terms of this Agreement; and

 

 

2.                                       The
definition of “Original Cost” under Section 10 of the Agreement shall be
amended in its entirety to read as follows:

 

“Original
Cost” shall mean the price paid by the CEO, the CEO Trust or the CEO Purchase
Vehicle for such New Executive Securities; provided that the price paid for New
Common Stock acquired pursuant to the grant, exercise or settlement of Company
awards described under clause (i) of the sixth recital of this Agreement shall
be the price, if any, set forth in the agreement evidencing such award.

 

Except as
modified herein, the Agreement shall remain in full force and effect.  This Amendment No. 1 to the Agreement may be
executed in counterparts, each of which shall be deemed to be an original but
all of which together will consti­tute one and the same instrument.  This Agreement may be executed by
telefacsimile signature and a telefacsimile signature shall constitute an
original signature for all purposes.

 

 

IN WITNESS
WHEREOF, the authorized representatives of the undersigned entities set forth
below, and the individual set forth below, have set their respective hands as
of the date first set forth hereabove.

 

	
  Samsonite Corporation

  	
  ACOF
  Management, L.P.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
    /s/
  Richard H. Wiley

  	
   

  	
  By:

  	
  /s/ Eric
  Beckman

  	
   

  
	
   

  	
  Name:

  	
  Richard H. Wiley

  	
   

  	
  Name:

  	
  Eric Beckman

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Bain Capital
  (Europe) LLC 

  	
  Ontario
  Teachers’ Pension Plan Board

  
	
  By Bain Capital Investors, LLC, its Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Melissa
  Wong Bethell

  	
   

  	
  By:

  	
    /s/
  Lee Sienna

  	
   

  
	
   

  	
  Name:

  	
  Melissa Wong Bethell

  	
   

  	
  Name:

  	
  Lee Sienna

  
	
   

  	
  Title:

  	
   

  	
   

  	
  Title:

  	
  Vice President, Private Capital

  
	
   

  	
   

  
	
   

  	
   

  
	
  Baring Trustees (Guernsey) Limited As 

  	
  Stonebridge Development Limited

  
	
  Trustee of The Carry Trust

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  Charlotte Wilson /s/ Stefania Melia

  	
   

  	
  By:

  	
  /s/ Stefania
  Tomasini

  	
   

  
	
   

  	
  Name:

  	
  Charlotte Wilson and Stefania Melia

  	
   

  	
  Name:

  	
  Stefania Tomasini

  
	
   

  	
  Title:

  	
  Authorised Signatories

  	
   

  	
  Title:

  	
  Sole Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
    /s/

  	
  Marcello Bottoli

  	
   

  
	
   

  	
   

  	
  Marcello Bottoli

  
																						

 

 

(signature page to Amendment No. 1 to Chief Executive Officer
Stockholders Agreement)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]