Document:

EX-10.05:

 

Exhibit 10.5

December 9, 2004

Dear David:

     DoubleClick Inc., a Delaware corporation (“DoubleClick” or “Company”),
desires to assure itself as to the continued focus of your services and to
avoid disruption to the Company while it explores and possibly implements
strategic alternatives. Accordingly, subject to the terms of this letter
agreement (this “Agreement”), DoubleClick desires to offer and pay to you the
retention bonuses and severance payments, if applicable, set forth below. All
capitalized terms shall have the meanings set forth on Schedule A.

Retention Payments

     In consideration for the terms of this Agreement and to provide you with
an additional incentive to remain with DoubleClick,

          (a) if you have remained continuously employed full-time by DoubleClick at
all times from the date of this Agreement through April 30, 2005 (the “First
Retention Period”), DoubleClick will pay you a retention bonus of $150,000 (the
“First Retention Payment”) in a lump sum within 30 days following the end of
the First Retention Period, subject to the provisions set forth below; and

          (b) if you have remained continuously employed full-time by DoubleClick at
all times from the date of this Agreement through January 31, 2006 (the “Second
Retention Period”), DoubleClick will pay you a retention bonus of $300,000 (the
“Second Retention Payment”) in a lump sum within 30 days following the end of
the Second Retention Period, subject to the provisions set forth below.

     If you are employed by DoubleClick when DoubleClick closes a Division
Change in Control, DoubleClick shall pay to you the First Retention Payment and
50% of the Second Retention Payment, if and to the extent they have not
previously been paid to you, in a lump sum within 30 days after the date of the
closing of such Division Change in Control. If the payment of the First
Retention Payment and 50% of the Second Retention Payment is accelerated
pursuant to the preceding sentence, the payment of the remainder of the Second
Retention Payment will be paid to you if, and only if, you have remained
continuously employed full-time by DoubleClick at all times during the Second
Retention Period.

     Notwithstanding the foregoing, if prior to the end of the First Retention
Period and/or Second Retention Period, as the case may be, your employment with
DoubleClick is terminated by DoubleClick without Cause or by you for Good
Reason, DoubleClick shall pay to you the First Retention Payment and the Second
Retention Payment, if and to the extent they have not previously been paid to
you, in a lump sum within 30 days following the effective date of your
termination of employment (the “Termination Date”).

 

 

Severance Payments

     In addition to the retention payments discussed above, upon the
termination of your employment with DoubleClick under circumstances in which
you would be eligible to receive severance payments under the terms of the
DoubleClick Severance Plan as in effect on the date of this Agreement (the
“Severance Plan”), DoubleClick will pay you a severance payment equal to the
amount you are eligible to receive pursuant to the terms of the Severance Plan
plus the pro rata amount of your target bonus for the year in which your
employment is terminated, which shall be determined by multiplying your target
bonus for the year in which your employment is terminated by (A) the lesser of
(x) DoubleClick’s accrual rate for the bonus pool at the time of the
termination of your employment and (y) 100%, and (B) a fraction, the numerator
of which is the number of days in the then current fiscal year through the date
of your termination and the denominator of which is 365.

Sabbatical Benefit

     In addition, if you are or become eligible to take a four-week paid
sabbatical pursuant to DoubleClick’s Employee Sabbatical Program during the
period from the date of this Agreement through the earlier of the Termination
Date or the Second Retention Period, DoubleClick may, at its option and in its
sole discretion, pay to you your sabbatical benefit equal to four-weeks’ salary
at your then current base rate of pay in lieu of permitting you to take such
four- week sabbatical leave.

Responsibilities

     As part of this Agreement, you agree to assist with and facilitate in a
constructive manner DoubleClick’s assessment and implementation of any
strategic alternatives DoubleClick may choose to pursue.

Taxes

     DoubleClick may withhold from any amounts payable hereunder any federal,
state, local or foreign taxes as shall be required to be withheld under
applicable law or regulation.

     Anything in this Agreement to the contrary notwithstanding and except as
set forth below, in the event it shall be determined that any payment or
distribution by the Company to or for your benefit and/or any acceleration or
vesting of any options (whether paid or payable or distributed or distributable
or provided pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this
paragraph) (collectively, “Change in Control Payments”) would be subject to the
excise tax imposed by Section 4999 of the Internal Revenue Code or any interest
or penalties are incurred by you with respect to such excise tax (such excise
tax, together with any such interest and penalties, are collectively referred
to as the “Excise Tax”), then you shall be entitled to receive an additional
payment (a “Gross-Up Payment”) in an amount such that after the payment by you
of all taxes (including any interest or penalties imposed with respect to such
taxes), including, without limitation, any income taxes (and any interest and
penalties with respect to such taxes) and Excise Tax imposed upon the Gross-Up
Payment, you retain an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Change in Control Payments.

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Notwithstanding the foregoing sentence, if it shall be determined that you
are entitled to a Gross-Up Payment, but that you, after taking into account the
Change in Control Payments and the Gross-Up Payment, would not receive a net
after-tax benefit of at least $50,000 (taking into account both income taxes
and any Excise Tax) as compared to the net after-tax proceeds to you resulting
from an elimination of the Gross-Up Payment and a reduction in the Change in
Control Payments, in an aggregate, to an amount (the “Reduced Amount”) such
that the receipt of Change in Control Payments would not give rise to any
Excise Tax, then no Gross-Up Payment shall be made to you and the Change in
Control Payments, in the aggregate, shall be reduced to the Reduced Amount.
All determinations required to be made under this paragraph, including whether
and when a Gross-Up Payment is required and the amount of such Gross-Up
Payment, whether the Change of Control Payments are required to be reduced to
the Reduced Amount and the assumptions to be utilized in arriving at such
determinations, shall be made at DoubleClick’s expense by a certified public
accounting firm designated by DoubleClick’s Board of Directors. In the event
of any underpayment or overpayment of the Gross-Up Payment as determined by the
firm designated in accordance with the preceding sentence, the amount of such
underpayment or overpayment shall promptly be paid to you or refunded to
DoubleClick, as the case may be, with interest at the applicable federal rate
provided for in Section 7872(f)(2) of the Code.

Assignment

     This Agreement binds DoubleClick, its successors or assigns. References
in this Agreement to DoubleClick applicable to any time following a Division
Change in Control include, if applicable in the context, the purchaser of the
DoubleClick business segment sold in such Division Change in Control so that
this Agreement shall inure to the benefit of such purchaser and such purchaser
shall be required to make, after the Division Change in Control, any payments
required to be made by DoubleClick under this Agreement.

At-Will Employment

     Nothing in this Agreement changes the at-will nature of your employment by
DoubleClick. No provision of this Agreement is intended to provide you with
any right to continue employment with DoubleClick or otherwise affect the right
of DoubleClick, which right is hereby expressly reserved, to terminate your
employment at any time for any reason, with or without Cause.

Non-Compete

     In consideration for DoubleClick entering into this Agreement and as a
member of DoubleClick’s management, you agree as follows:

     (1) Non-Solicitation. You hereby agree that during your employment and
for a period of one year from the Termination Date, you shall not solicit any
DoubleClick employee on behalf of another employer or encourage any DoubleClick
employee to leave DoubleClick. You also agree for a period of one year from
the Termination Date that you shall not solicit any DoubleClick account, on
your behalf or on behalf of any other individual or entity, for any purpose or
in any way competitive with the businesses of DoubleClick.

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     (2) Non-Competition. You agree that during your employment and for a
period of one year following the Termination Date, you shall not, as an
employee, agent, consultant, advisor, independent contractor, partner, officer,
director, stockholder, owner, co-venturer, principal, investor, lender, or
guarantor of any corporation, partnership, or other entity, or in any other
capacity, directly or indirectly: (a) engage in any business that is
competitive with any of the businesses of DoubleClick as they exist at the time
of this Agreement (a “Competitive Business”); (b) permit your name to be used
in connection with a Competitive Business; or (c) acquire any debt, equity, or
other ownership interest in any person or entity engaged in a Competitive
Business, except that you may own, in the aggregate, not more than one percent
(1%) of the outstanding shares of any publicly held corporation which is a
Competitive Business, which has shares listed for trading on a securities
exchange registered with the Securities and Exchange Commission or through the
automatic quotation system of a registered securities association; provided,
however, that if the Termination Date occurs at any time after a Division
Change in Control, the covenants and restrictions contained in this subsection
(2) shall be applicable to you if, and only if, the Company pays the Restricted
Payment to you within two (2) weeks following the Termination Date. It shall

be the Company’s (or its successor in interest) sole option whether to pay the
Restricted Period Payment.

     (3) Remedies. If you breach any covenants made in this Agreement,
DoubleClick shall have a right to the return of all payments paid pursuant to
this Agreement. DoubleClick’s rights under this paragraph are without
prejudice to its other rights, including the right of DoubleClick to seek
preliminary and permanent injunctive relief in court to preclude any
irreparable harm arising out of a violation or threatened violation of this
agreement, and to seek an award of compensatory and/or exemplary damages
arising from any breaches of this Agreement.

     (4) Construction. Each of the clauses contained in this section of the
Agreement constitutes an entirely separate and independent covenant. If any
restriction is held to be invalid or unenforceable by a court of competent
jurisdiction, it is intended and understood by the parties that such invalidity
or unenforceability will not affect the remaining restrictions or the validity
of the rest of the Agreement. If any restriction contained in this section of
the Agreement is deemed to be unreasonable, overbroad or otherwise
unenforceable, the parties agree that the court should interpret the covenant
in such a way and with such modification as may be required to make such
covenant reasonable and enforceable over the greatest area and time permitted
by applicable law.

Release

     As a condition to your right to receive each payment payable to you under
this Agreement, you agree to execute and deliver to DoubleClick a release in
substantially the form attached as Annex A hereto prior to each such payment.
The parties agree that such form may be altered prior to signing, in order to:
(i) account for any changes in the law that would affect the enforceability of
the release; or (ii) include such additional provisions as may be reasonably
required to give effect to the parties’ intent that such release be a general
release of all claims by you.

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General

     This Agreement sets forth the entire agreement of the parties hereto in
respect of the subject matter contained herein and supersedes all prior
agreements, promises, covenants, arrangements, communications, representations
or warranties, whether oral or written, by any officer, employee or
representative of any party hereto in respect of the subject matter contained
herein; and any prior agreement of the parties hereto in respect of the subject
matter contained herein, including, without limitation, any prior retention or
severance agreement or any prior agreement providing for bonus payments in
connection with a change in control, is hereby terminated and cancelled. Your
outstanding options to purchase DoubleClick common stock shall remain subject
to the terms of the applicable stock option agreement and plan, and no
additional rights with respect to such options are conferred by this Agreement.
The laws of the State of New York (other than its conflict of laws provisions)
govern this Agreement. Each of DoubleClick and you hereby waives any right to
trial by jury in any proceeding arising out of or relating to this Agreement.

[Remainder of Page Intentionally Left Blank]

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     If you accept the terms of this Agreement, please sign below and return a
copy to Hillary B. Smith, Esq., DoubleClick Inc., 111 Eighth Avenue,
10th
Floor, New York, NY 10011, by no later than December 9, 2004. We encourage you
to consult with any advisors you choose.

	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 
	 	 	DOUBLECLICK INC.
	 
	 	 	 	 
	

	 	By:
	 	/s/ Hillary Smith
	

	 	 	 	
 
	

	 	Name: Hillary Smith
	

	 	Title: Senior Vice President, General Counsel

I accept and agree to the terms set forth in this Agreement:

	 	 	 
	/s/ David S. Rosenblatt

	 	Dated: December 9, 2004
	

	 	 
	David S. Rosenblatt
	 	 

6

 

Schedule A

     “Cause” means (i) your willful misconduct in connection with your
employment or your failure to perform the employment responsibilities assigned
to you or your responsibilities under this Agreement, which is not cured after
notice and a reasonable opportunity (not to exceed 20 days) to cure, (ii) your
conviction of, or your entry of a pleading of guilty or nolo contendere to, any
crime involving moral turpitude or any felony, (iii) your breach of any
confidentiality agreement with DoubleClick or any significant violation of
DoubleClick employee policies, including its code of ethics.

     “Division Change in Control” means the acquisition by any person,
corporation or other entity of all or substantially all of DoubleClick’s
TechSolutions business segment; whether by sale of assets, merger or otherwise.

     “Good Reason” means (i) a material reduction in your annual base salary as
in effect on the date of this Agreement, or (ii) a change in the location at
which you perform your principal duties for DoubleClick to a new location more
than 30 miles from the location at which you performed your principal duties
for DoubleClick on the date of this Agreement.

     “Restricted Period Payment” shall mean a lump sum payment, less applicable
withholdings, paid to you within the two (2) week period following the
Termination Date, equal to one year of your base salary and one hundred percent
(100%) of your target bonus. The base salary and bonus shall be calculated
using the greater of: (i) your base salary and target bonus effective on the
Termination Date; or (ii) your base salary and target bonus in effect on the
day prior to the closing of the Division Change in Control. The Restricted
Period Payment shall be exclusive of any other severance or post termination
benefits and thus shall not be considered in determining the amount of the
Restricted Period Payment.

 

 

Annex A

Release

     The undersigned and DoubleClick Inc., a Delaware corporation
(“DoubleClick”), have entered into a retention agreement dated December 9, 2004
(the “Retention Agreement”). Pursuant to the Retention Agreement, the
undersigned is entitled under certain circumstances to retention payments and
severance payments. However, as a condition to the undersigned’s receipt of
such payment, the undersigned is required to deliver this release (the
“Release”) to DoubleClick. The undersigned therefore agrees as follows:

     (1) The undersigned hereby fully, forever, irrevocably and unconditionally
releases and discharges DoubleClick, its directors, officers, stockholders,
affiliated entities, agents, employees and representatives (the “Released
Parties”), from any and all claims, rights, demands, debts, damages, causes of
action, agreements, promises, liabilities, obligations and expenses (“Claims”),
of every kind and nature, whether arising from any act, omission,
misrepresentation or otherwise, and whether based on any federal, state or
other law or right of action at law or in equity, and whether foreseen or
unforeseen, matured or unmatured, known or unknown, that the undersigned ever
had or now has against any and all of the Released Parties, including, without
limitation, (a) all Claims for any acts that violated or may have violated my
rights under any contract, tort, or other common law, any federal, state, or
local fair employment practices or civil rights law or regulation, any employee
relations statute, executive order, law, regulation, or ordinance, any workers
compensation law, or any other duty or obligation of any kind, including but
not limited to rights created by 42 U.S.C. § 1981, Title VII of the Civil
Rights Act of 1964 (“Title VII”), the Age Discrimination in Employment Act
(“ADEA”), the Americans with Disabilities Act (“ADA”), the Family and Medical
Leave Act (“FMLA”), the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A, the New
York Human Rights Law, N.Y. Exec. Law § 290 et seq., the New York Civil Rights
Law, N.Y. Civ. Rights Law § 79-e et seq., the New York Equal Rights Law, N.Y.
Civ. Rights Law § 40c et seq., N.Y. Civ. Rights Law § 47 et seq. (New York
rights of persons with disabilities law), N.Y. Lab. Law § 194 et seq. (New York
equal pay law), N.Y. Lab. Law § 740 (New York whistleblower protection law),
all as amended, and all other federal, state, and local laws prohibiting
employment discrimination of whatever kind or nature; (b) all liability for any
Claims whatsoever which were or may have been alleged against or imputed to
DoubleClick by me or anyone acting on my behalf; and (c) all Claims for
attorneys’ fees, costs, or disbursements; provided, that, nothing in this
paragraph (i) shall release or discharge any Claim (w) for salary, personal,
sick or vacation time or other benefits accrued and unpaid through the date of
this Release, (x) for stock options granted to the undersigned with the
specific approval of DoubleClick’s Board of Directors, (y) arising out of facts
or circumstances occurring after the date of this Release, or (z) relating to
the enforcement of the Retention Agreement; or (ii) prevents you from filing,
cooperating with, or participating in any proceeding before the Equal
Employment Opportunity Commission or a state Fair Employment Practices Agency
(except that you acknowledge that you may not be able to recover any monetary
benefits in connection with any such claim, charge or proceeding).

     (2) The undersigned understands and agrees that he will not make any
false, disparaging or derogatory statements to any person or entity regarding
DoubleClick or any of its

 

 

directors, officers, stockholders, affiliated entities, agents, employees
or representatives or about DoubleClick’s business affairs or financial
condition.

     The laws of the State of New York (other than its conflict of laws
provisions) govern this Release. The undersigned hereby waives any right to
trial by jury in any proceeding arising out of or relating to this Release.

     The undersigned accepts and agrees to the terms set forth in this Release:

	 	 	 
	

	 	Dated:                                                           , 200   
	David S. Rosenblatt
	 	 

A-2exv10w3g

 

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this “Agreement”), by and between MarineMax, Inc., a
Delaware corporation (the “Company”), and Michael H. McLamb (“Executive”) is
entered into and effective as of the 18th day of August, 2004.

RECITALS

A. The Company is engaged primarily in the business of selling, renting,
leasing, and servicing boating, nautical, and other related lifestyle
entertainment products and services, and related activities (collectively, the
“Watercraft Business”), and Executive has experience in such business.

B. Executive currently serves as Executive Vice President and Chief Financial
Officer of the Company. The Company desires to assure itself of the continued
availability of Executive.

C. The Company desires to employ Executive, and Executive desires to accept
such employment, pursuant to the terms and conditions set forth in this
Agreement, which shall replace the existing employment agreement between the
Company and Executive.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual promises, terms, covenants, and
conditions set forth herein and the performance of each, it is hereby agreed as
follows:

1. EMPLOYMENT AND DUTIES.

(a) EMPLOYMENT. The Company hereby employs Executive, and Executive hereby
agrees to act, as Executive Vice President and Chief Financial Officer of the
Company. As such, Executive shall have responsibilities, duties, and authority
reasonably accorded to, expected of, and consistent with Executive’s position,
and Executive shall report directly to the Chief Executive Officer and to the
Board of Directors of the Company (the “Board”). Executive hereby accepts this
employment upon the terms and conditions herein contained and, subject to
paragraph l(c) hereof, agrees to devote his best efforts and substantially all
of his business time and attention to promote and further the business of the
Company.

(b) POLICIES. Executive shall faithfully adhere to, execute, and fulfill all
lawful policies established by the Company.

(c) OTHER ACTIVITIES. Executive shall not, during the term of his employment
hereunder, be engaged in any other business activity pursued for gain, profit,
or other pecuniary advantage if such activity interferes in any material
respect with Executive’s duties and responsibilities hereunder. The foregoing
limitations shall not be construed as prohibiting Executive from (i) making
personal investments in such form or manner as will neither require his
services in the operation or affairs of the companies or enterprises in which
such investments are made nor subject Executive to any conflict of interest
with respect to his

duties to the Company, (ii) serving on any civic or charitable boards or
committees, (iii) delivering lectures or fulfilling speaking engagements, or

(iii) serving, with the written approval of the Board, as a director of one or
more public corporations, in each case so long as any such activities do not
significantly interfere with the performance of Executive’s responsibilities
under this Agreement.

(d) PLACE OF PERFORMANCE. Executive shall not be required by the Company or in
the performance of his duties to relocate his primary residence.

 

 

2. COMPENSATION. For all services rendered by Executive, the Company shall
compensate Executive as follows:

(a) BASE SALARY Effective the date hereof, the base salary payable to Executive
shall be Two Hundred Twenty-five Thousand Dollars ($225,000) per year, payable
on a regular basis in accordance with the Company’s standard payroll
procedures, but not less than monthly. On at least an annual basis, the Board
or a committee of the Board shall review Executive’s performance and may make
increases to such base salary if, in its sole discretion, any such increase is
warranted. In no event shall Executive’s base salary be reduced to a level
below Two Hundred Twenty-five Thousand Dollars ($225,000).

(b) BONUS OR OTHER INCENTIVE COMPENSATION. Executive shall be eligible to
receive a bonus or other incentive compensation as may be determined by the
Board or a committee of the Board based upon such factors as the Board or such
committee, in its sole discretion, may deem relevant, including, without
limitation, the performance of Executive and the Company; provided, however,
that the Board or a committee of the Board shall establish for each fiscal year
of the Company a bonus program in which Executive shall be entitled to
participate, which provides Executive with a reasonable opportunity, based on
the past compensation practices of the Company and Executive’s then base
salary, to maintain or increase Executive’s total compensation compared to the
previous fiscal year.

(c) EXECUTIVE PERQUISITES, BENEFITS, AND OTHER COMPENSATION. Executive shall be
entitled to receive additional benefits and compensation from the Company in
such form and to such extent as specified below:

(i) REIMBURSEMENT FOR EXPENSES. Reimbursement for business travel and other
out-of-pocket expenses reasonably incurred by Executive in the performance of
his services under this Agreement. All reimbursable expenses shall be
appropriately documented in reasonable detail by Executive upon submission of
any request for reimbursement and shall be in a format and manner consistent
with the Company’s expense reporting policy.

(ii) VACATION. Paid vacation in accordance with the applicable policy of the
Company as in effect from time to time, but in no event shall Executive be
entitled to less than four (4) weeks paid vacation per year.

(iii) OTHER EXECUTIVE PERQUISITES. The Company shall provide Executive with
other executive perquisites as may be made available to or deemed appropriate
for Executive by the Board or a committee of the Board and participation in all
other Company-

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wide employee benefits (including group insurance, pension, retirement, and
other plans and programs) as are available to the Company’s executive officers
from time to time.

3. NON-COMPETITION AGREEMENT.

(a) NON-COMPETITION. Executive shall not, during the period of his employment
by or with the Company, and for a period equal to the longer of two (2) years
immediately following the termination of his employment under this Agreement or
the time during which severance payments are being made by the Company to
Executive in accordance with this Agreement, for any reason whatsoever,
directly or indirectly, for himself or on behalf of or in conjunction with any
other person:

(i) OTHER ACTIVITIES. Engage, as an officer, director, shareholder, owner,
principal, partner, lender, joint venturer, employee, independent contractor,
consultant, advisor, or sales representative, in any Competitive Business
within the Restricted Territory;

(ii) SOLICITATION OF EMPLOYEES. Call upon any person who is, at that time,
within the Restricted Territory, an employee of the Company or any of its
subsidiaries, in a managerial capacity for the purpose or with the intent of
enticing such employee away from or out of the employ of the Company or any of
its subsidiaries;

(iii) SOLICITATION OF CUSTOMERS. Call upon any person or entity that is, at
that time, or that has been, within one (1) year prior to that time, a customer
of the Company or any of its subsidiaries, within the Restricted Territory for
the purpose of soliciting or selling products or services in direct competition
with the Company or any of its subsidiaries within the Restricted Territory;

(iv) SOLICITATION OF ACQUISITION CANDIDATES. Call upon any prospective
acquisition candidate, on Executive’s own behalf or on behalf of any person,
which candidate was, to Executive’s knowledge after due inquiry, either called
upon by the Company, or for which the Company made an acquisition analysis, for
the purpose of acquiring such candidate.

(b) CERTAIN DEFINITIONS. As used in this Agreement, the following terms shall
have the meanings ascribed to them:

(i) COMPETITIVE BUSINESS shall mean any person that sells, rents, brokers,
leases, stores, repairs, restores, or services recreational boats or other
boating products or provides services relating to recreational boats or other
boating products;

(ii) PERSON shall mean any individual, corporation, limited liability company,
partnership, firm, or other business of whatever nature;

(iii) RESTRICTED TERRITORY shall mean any state or other political jurisdiction
in which, or any location within two hundred (200) miles of which, the Company
or any subsidiary of the Company maintains any facilities; sells, rents,
brokers, leases, stores,

3

 

repairs, restores, or services recreational boats or other boating products; or
provides services relating to recreational boats or other boating products; and

(iv) SUBSIDIARY shall mean the Company’s consolidated subsidiaries, including
corporations, partnerships, limited liability companies, and any other business
organization in which the Company holds at least a fifty percent (50%) equity
interest.

(c) ENFORCEMENT. Because of the difficulty of measuring economic losses to the
Company as a result of a breach of the foregoing covenants, and because of the
immediate and irreparable damage that could be caused to the Company for which
it would have no other adequate remedy, Executive agrees that the foregoing
covenants may be enforced by the Company in the event of breach by him, by
injunctions and restraining orders.

(d) REASONABLE RESTRAINT. It is agreed by the parties that the foregoing
covenants in this paragraph 3 impose a reasonable restraint on Executive in
light of the activities and business of the Company (including the Company’s
subsidiaries) on the date of the execution of this Agreement and the current
plans of the Company (including the Company’s subsidiaries); but it is also the
intent of the Company and Executive that such covenants be construed and
enforced in accordance with the changing activities, business, and locations of
the Company (including the Company’s subsidiaries) throughout the term of this
covenant, whether before or after the date of termination of the employment of
Executive. For example, if, during the term of this Agreement, the Company
(including the Company’s subsidiaries) engages in new and different activities,
enters a new business, or establishes new locations for its current activities
or business in addition to or other than the activities or business enumerated
above or the locations currently established therefor, then Executive will be
precluded from soliciting the customers or employees of such new activities or
business or from such new location and from directly competing with such new
business within the Restricted Territory through the term of these covenants.

(e) OTHER ACTIVITIES. It is further agreed by the parties that, in the event
that Executive shall cease to be employed hereunder and enters into a business
or pursues other activities not in competition with the Company (including the
Company’s subsidiaries), or similar activities or business in locations, the
operation of which, under such circumstances, does not violate this paragraph
3, and in any event such new business, activities, or location are not in
violation of this paragraph 3 or of Executive’s obligations under this
paragraph 3, if any, Executive shall not be chargeable with a violation of this
paragraph 3 if the Company (including the Company’s subsidiaries) shall
thereafter enter the same, similar, or a competitive (i) business, (ii) course
of activities, or (iii) location, as applicable.

(f) SEPARATE COVENANTS. The covenants in this paragraph 3 are severable and
separate, and the unenforceability of any specific covenant shall not affect
the provisions of any other covenant. Moreover, in the event any court of
competent jurisdiction shall determine that the scope, time, or territorial
restrictions set forth are unreasonable, then it is the intention of the
parties that such restrictions be enforced to the fullest extent that the court
deems reasonable, and the Agreement shall thereby be reformed.

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(g) INDEPENDENT AGREEMENT. All of the covenants in this paragraph 3 shall be
construed as an agreement independent of any other provision in this Agreement,
and the existence of any claim or cause of action of Executive against the
Company, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company of such covenants. It is
specifically agreed that the period of two (2) years following termination of
employment stated at the beginning of this paragraph 3, during which the
agreements and covenants of Executive made in this paragraph 3 shall be
effective, shall be computed by excluding from such computation any time during
which Executive is in violation of any provision of this paragraph 3.

4. TERM; TERMINATION; RIGHTS ON TERMINATION.

(a) TERM. Unless terminated sooner as provided herein, the term of Executive’s
employment under this Agreement shall begin on the date hereof and continue for
three (3) years thereafter (the “Initial Term”) and shall continue on a renewal
basis from year to year thereafter (each a “Renewal Term” and with the Initial
Term, the “Term”) on the same terms and conditions in effect as of the time of
the latest renewal unless and until notice of non-renewal shall be given by
either party to the other not less than sixty (60) days prior to the end of the
then current term.

(b) TERMINATION. Executive’s employment under this Agreement may be terminated
in any one of the followings ways:

(i) DEATH OF EXECUTIVE. The employment of Executive shall terminate immediately
upon Executive’s death provided that the Company shall, for a period of six (6)
months following such death, pay to the estate of Executive an amount equal to
Executive’s base salary and any earned bonus. In the event of such termination,
all options to purchase Common Stock of the Company held by Executive shall
thereupon vest and shall be exercisable during their full term notwithstanding
the termination of employment.

(ii) DISABILITY OF EXECUTIVE. If, as a result of incapacity due to physical or
mental illness or injury, Executive shall have been absent from his full-time
duties hereunder for six (6) consecutive months, then thirty (30) days after
receiving written notice (which notice may occur before or after the end of
such six (6) month period, but which shall not be effective earlier than the
last day of such six (6) month period), the Company may terminate Executive’s
employment provided Executive is unable to resume his full-time duties at the
conclusion of such notice period. Also, Executive may terminate his employment
if his health should become impaired to an extent that makes the continued
performance of his duties hereunder hazardous to his physical or mental health
or his life, provided that Executive shall have furnished the Company with a
written statement from a qualified doctor to such effect and provided, further,
that, at the Company’s request made within thirty
(30) days of the date of such written statement, Executive shall submit to an
examination by a doctor selected by the Company who is reasonably acceptable to
Executive or Executive’s doctor and such doctor shall have concurred in the
conclusion of Executive’s doctor. In the event Executive’s employment under
this Agreement is terminated as a result of Executive’s disability, Executive
shall receive from the Company, in a lump-sum payment due within ten (10) days
of the effective date of termination, an amount equal to the average of the
base salary and bonus paid to Executive for

5

 

the two (2) prior full fiscal years, for the lesser of the time period then
remaining under the Term of this Agreement or for one (1) year. In the event of
such termination, all options to purchase Common Stock of the Company held by
Executive shall thereupon vest and shall be exercisable during their full term
notwithstanding the termination of employment.

(iii) TERMINATION BY THE COMPANY FOR GOOD CAUSE. The Company may terminate
Executive’s employment upon ten (10) days prior written notice to Executive for
“Good Cause,” which shall mean any one or more of the following: (A)
Executive’s willful, material, and irreparable breach of this Agreement; (B)
Executive’s gross negligence in the performance or intentional nonperformance
(continuing for thirty (30) days after receipt of written notice of need to
cure) of any of Executive’s material duties and responsibilities hereunder; (C)
Executive’s willful dishonesty, fraud, or misconduct with respect to the
business or affairs of the Company, which materially and adversely affects the
operations or reputation of the Company; (D) Executive’s conviction of a felony
crime involving dishonesty or moral turpitude; or (E) a confirmed positive
illegal drug test result. In the event of a termination by the Company for Good
Cause, Executive shall have no right to any severance compensation.

(iv) TERMINATION BY THE COMPANY WITHOUT GOOD CAUSE OR BY EXECUTIVE WITH GOOD
REASON; FAILURE OF THE COMPANY TO RENEW. The Company may terminate Executive’s
employment without Good Cause during the Term hereof upon the approval of a
majority of the members of the Board, excluding Executive if Executive is a
member of the Board. Executive may terminate his employment under this
Agreement for Good Reason upon ten (10) days prior notice to the Company. In
addition, the Company may determine not to renew Executive’s employment under
this Agreement.

(A) RESULT OF TERMINATION BY THE COMPANY WITHOUT GOOD CAUSE OR BY EXECUTIVE
WITH GOOD REASON. Should the Company terminate Executive’s employment without
Good Cause or should Executive terminate his employment with Good Reason during
the Term, or should the Company determine not to renew Executive’s employment
under this Agreement at any time following the Initial Term, the Company shall
pay to Executive for eighteen (18) months after such termination, on such dates
as would otherwise be paid by the Company, an amount equal to the average of
the base salary and bonus paid to Executive for the two (2) prior full fiscal
years. Further, if the Company terminates Executive’s employment without Good
Cause or Executive terminates his employment with Good Reason, (1) all options
to purchase Common Stock of the Company held by Executive shall vest thereupon
and shall be exercisable during their full term notwithstanding the termination
of employment, and (2) Executive shall be entitled to receive all other unpaid
benefits due and owing through Executive’s last day of employment. Further, any
termination by the Company without Good Cause or by Executive for Good Reason
shall operate to shorten the period of non-competition set forth in paragraph 3
and during which the terms of paragraph 3 apply to one (1) year from the date
of termination of employment.

(B) DEFINITION OF GOOD REASON. Executive shall have “Good Reason” to terminate
his employment upon the occurrence of any of the following events: (1)
Executive is demoted by means of a reduction in authority, responsibilities, or
duties; (2) Executive’s annual base salary as determined pursuant to paragraph
2 is reduced to a level that is

6

 

less than ninety percent (90%) of the base salary paid to Executive during the
prior contract year under this Agreement; (3) a change is made in Executive’s
bonus other than as contemplated by paragraph 2(b), unless Executive has agreed
in writing to that demotion, reduction, or change; or (4) the Company breaches
a material provision of this Agreement.

(v) RESIGNATION BY EXECUTIVE WITHOUT GOOD REASON. Executive may, without cause,
and without Good Reason terminate his own employment under this Agreement,
effective thirty (30) days after written notice is provided to the Company or
such earlier time as any such resignation may be accepted by the Company. If
Executive resigns or otherwise terminates his employment without Good Reason,
Executive shall receive no severance compensation.

(vi) CHANGE IN CONTROL OF THE COMPANY.

(A) POSSIBILITY OF CHANGE IN CONTROL. Executive understands and acknowledges
that the Company may be merged or consolidated with or into another entity and
that such entity shall automatically succeed to the rights and obligations of
the Company hereunder or that the Company may undergo another type of Change in
Control. In the event such a merger or consolidation or other Change in Control
is initiated prior to the end of the Term, then the provisions of this
paragraph 4(b)(vi) shall be applicable.

(B) TERMINATION BY EXECUTIVE. Subject to the exceptions set forth in paragraph
4(b)(vi)(E), if any Change of Control is initiated during Executive’s
employment hereunder, Executive may, at his sole discretion, elect to terminate
his employment under this Agreement by providing written notice to the Company
at least five (5) business days at any time prior to or within one (1) year
after the closing of the transaction giving rise to the Change in Control. In
such case, the applicable provisions of paragraph
4(b)(iv) hereof will apply as though the Company had terminated Executive’s
employment without Good Cause during the Term; however, under such
circumstances, the amount of the severance payments due to Executive shall be
paid in a lump sum, the non-competition and non-solicitation provisions of
paragraph 3 hereof shall all apply for a period of one (1) year from the
effective date of termination.

(C) EFFECTIVE DATE OF CHANGE IN CONTROL. For purposes of applying paragraph 4
hereof under the circumstances described in
4(b)(vi)(B) above, the effective date of the Change in Control will be the
closing date of the transaction giving rise to the Change in Control and all
compensation, reimbursements, and lump-sum payments due Executive must be paid
in full by the Company following such Change in Control promptly following
Executive’s election to terminate his employment. Further, Executive will be
given sufficient time and opportunity to elect whether to exercise all or any
of his options to purchase the Company’s Common Stock, such that he may convert
the options to shares of the Company’s Common Stock at or prior to or within
one (1) year after the closing of the transaction giving rise to the Change in
Control, if he so desires.

(D) DEFINITION OF CHANGE IN CONTROL. A “Change in Control” shall mean a change
in control of a nature that would be required to be reported in response to
Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities

7

 

Exchange Act of 1934, as amended, as in effect on the date of this Agreement,
or if Item 6(e) is no longer in effect, any regulations issued by the
Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended, which serve similar purposes; provided further that, without
limitation, a Change in Control shall be deemed to have occurred if and when:

(1) TURNOVER OF BOARD. The following individuals no longer constitute a
majority of the members of the Board: (A) the individuals who, as of the date
of this Agreement, constitute the Board (the “Current Directors”); (B) the
individuals who thereafter are elected to the Board and whose election, or
nomination for election, to the Board was approved by a vote of at least
two-thirds (2/3) of the Current Directors then still in office (such directors
becoming “Additional Directors” immediately following their election); and (C)
the individuals who are elected to the Board and whose election, or nomination
for election, to the Board was approved by a vote of at least two-thirds (2/3)
of the Current Directors and Additional Directors then still in office (such
directors also becoming “Additional Directors” immediately following their
election);

(2) TENDER OFFER. A tender offer or exchange offer is made whereby the effect
of such offer is to take over and control the Company, and such offer is
consummated for the equity securities of the Company representing twenty
percent (20%) or more of the combined voting power of the Company’s then
outstanding voting securities;

(3) MERGER OR CONSOLIDATION. The stockholders of the Company shall approve a
merger, consolidation, recapitalization, or reorganization of the Company, a
reverse stock split of outstanding voting securities, or consummation of any
such transaction if stockholder approval is not obtained, other than any such
transaction that would result in at least seventy-five percent (75%) of the
total voting power represented by the voting securities of the surviving entity
outstanding immediately after such transaction being beneficially owned by the
holders of outstanding voting securities of the Company immediately prior to
the transaction, with the voting power of each such continuing holder relative
to other such continuing holders not substantially altered in the transaction;
or

(4) LIQUIDATION OR SALE OF ASSETS. The stockholders of the Company shall
approve a plan of complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or a substantial portion of the
Company’s assets to another person or entity, which is not a wholly owned
subsidiary of the Company (i.e., fifty percent (50%) or more of the total
assets of the Company).

(E) EXCEPTIONS FROM CHANGE IN CONTROL. A Change in Control shall not be
considered to have taken place for purposes of this paragraph 4 in the event
that both (1) the Change in Control shall have been specifically approved by at
least two-thirds (2/3) of the Current and Additional Directors (as defined
above) and (2) the provisions of this Agreement remain in full force and effect
as to Executive. Sales of the Company’s Common Stock beneficially owned or
controlled by the Company shall not be considered in determining whether a
Change in Control has occurred.

8

 

(F) EXCESS PARACHUTE PAYMENTS. Anything in this Agreement to the contrary
notwithstanding, in the event it shall be determined that any payment,
distribution or other action by the Company to or for the benefit of the
Executive (whether paid or payable or distributed or distributable pursuant to
the terms of this Agreement or otherwise, (including any additional payments
required under this Section 4((b)(vii)(F)) (a “Payment”) would be subject to an
excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as
amended (the “Code”), or any interest or penalties are incurred by the
Executive with respect to any such excise tax (such excise tax, together with
any such interest and penalties, are hereinafter collectively referred to as
the “Excise Tax”), the Company shall make a payment to the Executive (a
“Gross-Up Payment”) in an amount such that after payment by the Executive of
all taxes (including any Excise Tax) imposed upon the Gross-Up Payment, the
Executive retains (or has had paid to the Internal Revenue Service on his
behalf) an amount of the Gross-Up Payment equal to the Excise Tax imposed upon
the Payments The Gross-Up Payment will be due and payable by the Company or its
successor within ten (10) days after Executive delivers a written request for
reimbursement accompanied by a copy of his tax return(s) showing the Excise Tax
actually incurred by Executive.

(G) NOTIFICATION. Executive shall be notified in writing by the Company at any
time that the Company anticipates that a Change in Control may take place.

(c) PAYMENTS TO TERMINATION DATE. Upon termination of Executive’s employment
under this Agreement for any reason provided above, Executive shall be entitled
to receive all compensation earned and all benefits and reimbursements due
through the effective date of termination. Additional compensation subsequent
to termination, if any, will be due and payable to Executive only to the extent
and in the manner expressly provided above. All other rights and obligations of
the Company and Executive under this Agreement shall cease as of the effective
date of termination, except that the Company’s obligations under paragraph 8
(relating to indemnification of Executive) and Executive’s obligations under
paragraph 3 (relating to non-competition), paragraph 5 (relating to return of
Company property), paragraph 6 (relating to inventions), paragraph 7 (relating
to trade secrets), and paragraph 9 (relating to prior agreements) shall survive
such termination in accordance with their terms.

(d) FAILURE TO PAY EXECUTIVE. If termination of Executive’s employment arises
out of the Company’s failure to pay Executive on a timely basis the amounts to
which he is entitled under this Agreement or as a result of any other breach of
this Agreement by the Company, as determined by a court of competent
jurisdiction or pursuant to the provisions of paragraph 14, the Company shall
pay all amounts and damages to which Executive may be entitled as a result of
such breach, including interest thereon and all reasonable legal fees and
expenses and other costs incurred by Executive to enforce his rights hereunder.
Further, none of the provisions of paragraph 3 (relating to non-competition)
shall apply in the event Executive’s employment under this Agreement is
terminated as a result of a breach by the Company.

5. RETURN OF COMPANY PROPERTY. All records, designs, patents, business plans,
financial statements, manuals, memoranda, lists, and other property delivered
to or compiled by Executive by or on behalf of the Company (or its
subsidiaries) or its representatives, vendors, or customers that pertain to the
business of the Company (or its subsidiaries) shall be and remain the property
of the Company and be subject at all times to its discretion and control.
Likewise,

9

 

all correspondence, reports, records, charts, advertising materials, and other
similar data pertaining to the business, activities, or future plans of the
Company (or its subsidiaries) that is collected by Executive shall be delivered
promptly to the Company without request by it upon termination of Executive’s
employment.

6. INVENTIONS. Executive shall disclose promptly to the Company any and all
significant conceptions and ideas for inventions, improvements, and valuable
discoveries, whether patentable or not, which are conceived or made by
Executive, solely or jointly with another, during the period of employment or
within one (1) year thereafter, and which are directly related to the business
or activities of the Company (or its subsidiaries) and which Executive
conceives as a result of his employment by the Company. Executive hereby
assigns and agrees to assign all his interests therein to the Company or its
nominee. Whenever requested to do so by the Company, Executive shall execute
any and all applications, assignments, and other instruments that the Company
shall deem necessary to apply for and obtain Letters Patent of the United
States or any foreign country or to otherwise protect the Company’s interest
therein.

7. TRADE SECRETS. Executive agrees that he will not, during or after the period
of employment under this Agreement, disclose the specific terms of the
Company’s relationships or agreements with its respective significant vendors
or customers, or any other significant and material trade secret of the
Company, whether in existence or proposed, to any person, firm, partnership,
corporation, or business for any reason or purpose whatsoever.

8. INDEMNIFICATION. In the event Executive is made a party to any threatened,
pending, or completed action, suit, or proceeding, whether civil, criminal,
administrative, or investigative (other than an action by the Company against
Executive), by reason of the fact that he is or was performing services under
this Agreement, then the Company shall indemnify Executive against all expenses
(including attorneys’ fees), judgments, fines, and amounts paid in settlement,
as actually and reasonably incurred by Executive in connection therewith to the
maximum extent permitted by applicable law. The advancement of expenses shall
be mandatory. In the event that both Executive and the Company are made a party
to the same third-party action, complaint, suit, or proceeding, the Company
agrees to engage competent legal representation, and Executive agrees to use
the same representation, provided that if counsel selected by the Company shall
have a conflict of interest that prevents such counsel from representing
Executive, Executive may engage separate counsel and the Company shall pay all
attorneys’ fees of such separate counsel. Further, while Executive is expected
at all times to use his best efforts to faithfully discharge his duties under
this Agreement, Executive cannot be held liable to the Company for errors or
omissions made in good faith if Executive has not exhibited gross, willful, and
wanton negligence and misconduct or performed criminal and fraudulent acts that
materially damage the business of the Company. Notwithstanding this paragraph
8, the provision of any written indemnification agreement applicable to the
directors or officers of the Company to which Executive shall be a party shall
apply rather than this paragraph 8 to the extent inconsistent with this
paragraph 8.

9. NO PRIOR AGREEMENTS. Executive hereby represents and warrants to the Company
that the execution of this Agreement by Executive and his employment by the
Company and the performance of his duties hereunder will not violate or be a
breach of any

10

 

agreement with a former employer, client, or any other person or entity.
Further, Executive agrees to indemnify the Company for any claim, including,
but not limited to, attorneys’ fees and expenses of investigation, by any such
third party that such third party may now have or may hereafter come to have
against the Company based upon or arising out of any non-competition,
invention, or secrecy agreement between Executive and such third party that was
in existence as of the date of this Agreement.

10. ASSIGNMENT; BINDING EFFECT. Executive understands that he is being employed
by the Company on the basis of his personal qualifications, experience, and
skills. Executive agrees, therefore, he cannot assign all or any portion of his
performance under this Agreement. Subject to the preceding two (2) sentences
and the express provisions of paragraph 11 below, this Agreement shall be
binding upon, inure to the benefit of and be enforceable by the parties hereto
and their respective heirs, legal representatives, successors, and assigns.

11. COMPLETE AGREEMENT. This Agreement is not a promise of future employment.
Executive has no oral representations, understandings, or agreements with the
Company or any of its officers, directors, or representatives covering the same
subject matter as this Agreement. This written Agreement is the final,
complete, and exclusive statement and expression of the agreement between the
Company and Executive and of all the terms of this Agreement, and it cannot be
varied, contradicted, or supplemented by evidence of any prior or
contemporaneous oral or written agreements. This written Agreement may not be
later modified except by a further writing signed by a duly authorized officer
of the Company and Executive, and no term of this Agreement may be waived
except by writing signed by the party waiving the benefit of such term. This
Agreement hereby supersedes any other employment agreements or understandings,
written or oral, between the Company and Executive.

12. NOTICE. Whenever any notice is required hereunder, it shall be given in
writing addressed as follows:

	 	 	 	 	 
	To the Company:

	 	 	 	MarineMax, Inc.
	

	 	 	 	18167 U.S. Highway 19 North, Suite 300
	

	 	 	 	Clearwater, Florida 33764
	

	 	 	 	Attention: Chief Executive Officer
	 
	 	 	 	 
	To Executive:

	 	 	 	Michael H. McLamb
	

	 	 	 	18167 U.S. Highway 19 North, Suite 300
	

	 	 	 	Clearwater, Florida 33764
	 
	 	 	 	 
	In either case with a copy to:

	 	 	 	Greenberg Traurig, LLP
	

	 	 	 	2375 East Camelback Road
	

	 	 	 	Suite 700
	

	 	 	 	Phoenix, Arizona 85016
	

	 	 	 	Attention: Robert S. Kant, Esq.

Notice shall be deemed given and effective on the earlier of three (3) days
after the deposit in the U.S. mail of a writing addressed as above and sent
first class mail, certified,

11

 

return receipt requested, or when actually received. Either party may change
the address for notice by notifying the other party of such change in
accordance with this paragraph 13.

13. SEVERABILITY; HEADINGS. If any portion of this Agreement is held invalid or
inoperative, the other portions of this Agreement shall be deemed valid and
operative and, so far as is reasonable and possible, effect shall be given to
the intent manifested by the portion held invalid or inoperative. The paragraph
headings herein are for reference purposes only and are not intended in any way
to describe, interpret, define or limit the extent or intent of the Agreement
or of any part hereof.

14. MEDIATION ARBITRATION. All disputes arising out of this Agreement shall be
resolved as set forth in this paragraph 15. If any party hereto desires to make
any claim arising out of this Agreement (“Claimant”), then such party shall
first deliver to the other party (“Respondent”) written notice (“Claim Notice”)
of Claimant’s intent to make such claim explaining Claimant’s reasons for such
claim in sufficient detail for Respondent to respond. Respondent shall have ten
(10) business days from the date the Claim Notice was given to Respondent to
object in writing to the claim (“Notice of Objection”), or otherwise cure any
breach hereof alleged in the Claim Notice. Any Notice of Objection shall
specify with particularity the reasons for such objection. Following receipt of
the Notice of Objection, if any, Claimant and Respondent shall immediately seek
to resolve by good faith negotiations the dispute alleged in the Claim Notice,
and may at the request of either party, utilize the services of an independent
mediator. If Claimant and Respondent are unable to resolve the dispute in
writing within ten (10) business days from the date negotiations began, then
without the necessity of further agreement of Claimant or Respondent, the
dispute set forth in the Claim Notice shall be submitted to binding arbitration
(except for claims arising out of paragraphs 3 or 7 hereof), initiated by
either Claimant or Respondent pursuant to this paragraph. Such arbitration
shall be conducted before a panel of three (3) arbitrators in Tampa, Florida,
in accordance with the National Rules for the Resolution of Employment Disputes
of the American Arbitration Association (“AAA”) then in effect provided that
the parties may agree to use arbitrators other than those provided by the AAA.
The arbitrators shall not have the authority to add to, detract from, or modify
any provision hereof nor to award punitive damages to any injured party. The
arbitrators shall have the authority to order back-pay, severance compensation,
vesting of options (or cash compensation in lieu of vesting of options),
reimbursement of costs, including those incurred to enforce this Agreement, and
interest thereon in the event the arbitrators determine that Executive was
terminated without disability or without Good Cause, as defined in paragraphs
4(b) and 4(c) hereof, respectively, or that the Company has otherwise
materially breached this Agreement. A decision by a majority of the arbitration
panel shall be final and binding. Judgment may be entered on the arbitrators’
award in any court having jurisdiction. The direct expense of any mediation or
arbitration proceeding and, to the extent Executive prevails, all reasonable
legal fees shall be borne by the Company.

15. NO PARTICIPATION IN SEVERANCE PLANS. Except as contemplated by this
Agreement, Executive acknowledges and agrees that the compensation and other
benefits set forth in this Agreement are and shall be in lieu of any
compensation or other benefits that may otherwise be payable to or on behalf of
Executive pursuant to the terms of any severance pay arrangement of the Company
or any affiliate thereof, or any other similar arrangement of the

12

 

Company or any affiliates thereof providing for benefits upon involuntary
termination of employment.

16. GOVERNING LAW. This Agreement shall in all respects be construed according
to the laws of the state of Florida, notwithstanding the conflict of laws
provisions of such state.

17. COUNTERPARTS; FACSIMILE. This Agreement may be executed by facsimile and in
two (2) or more counterparts, each of which shall be deemed an original and all
of which together shall constitute but one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day and year first above written.

MARINEMAX, INC.

	 	 	 	 	 	 	 
	

	 	By:
	 	/s/ Bill McGill	 	 
	

	 	 	 	
	 	 
	 	 	Title CEO, Chairman
	 	 	Name: William H. McGill
	 	 	Its: CEO, Chairman

EXECUTIVE:

/s/ Michael H. McLamb

                                                              Michael H. McLamb

13

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