Document:

Separation Agreement between LoJack Corporation and Michael Umana

 Exhibit 10.1 
 

 
 June 23, 2008 
 Mr. Michael Umana 
 Dear Mike: 
 This letter agreement (the “Agreement”) will confirm that we have agreed to the following terms and conditions regarding your resignation from your office as Senior Vice President and Chief Financial Officer, the orderly
transition of your duties and responsibilities and your resignation from employment with LoJack Corporation (“LoJack” or the “Company”). 
 1. Employment Status. 
 (a) You shall resign from your current office as the Company’s Chief
Financial Officer effective as of September 30, 2008 (“Resignation Date”). Your responsibilities will include the second quarter close and filling current vacancies in the Finance Group to the best of your ability. Until the
Resignation Date you shall continue as an employee with your current salary and benefits. 
 (b) For the period beginning on the Resignation
Date and continuing until March 31, 2009 (the “Post CFO Period”), you shall assist in transition and provide such other services consistent with your LoJack experience and your other activities as LoJack reasonably may request and
which are consistent with the intent to effectuate the transition of such duties and responsibilities. While you are working for LoJack during this period you will continue to have coverage under the Company’s Director’s and Officer’s
insurance program. 
 (c) All payments hereunder shall commence on Final Acceptance of this Agreement (as defined in Paragraph 9), at which
time any previously due payments shall be made. During the Post CFO Period the Company shall pay you an amount equal to your current salary level per bi-weekly pay period, less withholdings as required by law or as authorized by you, which will be
paid in bi-weekly installments or otherwise in accordance with LoJack’s usual pay schedule. The Company will provide outplacement services for a period of six months. During the Post CFO Period you will be eligible to continue your group
medical and dental benefits under COBRA and the Company will pay the employer portion of the premium for such coverage during the Post CFO Period and the employee portion will be paid by you. You will not be entitled to other benefits, except as
prescribed by law or as described below. In the event of your death or permanent disability during the Post CFO Period, stock options and restricted stock shall vest as provided in the applicable agreements, and you or your estate, as applicable,
will continue to receive the payments described in this paragraph. You shall also be entitled to receive three quarters (or a prorated portion for the period of time actually worked prior to your 
  
 LoJack Corporation, Westwood Executive Center, 200 Lowder Brook Drive, Suite 1000, Westwood,
MA 02090 (781) 251-4700 www.lojack.com 

 
Resignation Date.) of your annual bonus for 2008, to be paid in 2009 in accordance with the terms of the bonus plan and calculated without regard to the
impact of the terms of this Agreement on operating profit. GW and Wade financial planning services will be continued through the Post CFO Period. 
 2. Other Payments and Benefits. At the Resignation Date, LoJack shall pay you all accrued but unused vacation pay. During the Post CFO Period, your 2006 time based restricted stock grant shall vest as though you had continued as an
employee throughout the Post CFO Period and employee stock options shall vest to the extent they would have vested had you continued as an employee throughout the Post CFO Period. 
 3. Termination of Payments. In addition to other remedies, all payments and benefits will be terminated in the event of (i) your engaging in
conduct which is demonstrably and materially injurious to the Company or that materially harms the reputation or financial position of the Company; (ii) your conviction of, or plea of guilty or nolo contendere to, a felony or any other
crime involving dishonesty, fraud or moral turpitude; (iii) your being found liable in any SEC or other civil or criminal securities law action relating to the Company, or the entry of any cease and desist order with respect to such action
(regardless of whether or not you admit or deny liability); (iv) your breach of your fiduciary duties to the Company which may reasonably be expected to have a material adverse effect on the Company; (v) your obstructing or impeding, or
failing to materially cooperate with, any investigation authorized by the Board or any governmental or self-regulatory entity involving the Company; (vi) your violation of any nondisclosure, nonsolicitation, non-hire, or noncompete agreement or
any additional Company policy, including but not limited to the provisions of Sections 6 and 7 below; or (vii) your violation of any policy of the Company that is generally applicable to all former employees or officers of the Company
including, but not limited to, policies concerning insider trading, that you know or reasonably should know could reasonably be expected to result in a material adverse effect on the Company or its reputation. For purposes of this, no act, or
failure to act, on your part shall be considered “willful” unless done, or omitted to be done, by you without reasonable belief that your action or omission was in, or not opposed to, the best interests of the Company. Any act, or
failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by you in good faith and in the best
interests of the Company. 
 Your right to continue coverage under LoJack’s group dental and medical insurance plans under COBRA, 29
U.S.C. §1161 et seq., will commence on September 30, 2008. You will be converted to COBRA on October 1, 2008 and LoJack will pay the employer portion of the premium for such coverage through the Post CFO period and the
employee portion will be deducted from your severance payments. At the end of the Post CFO, your continuation of such coverage will be at your sole expense. Your right to participate in all other of LoJack’s benefit plans and programs shall
cease on the Resignation Date. 
 You may elect to convert your Basic Life Insurance coverage to an individual policy with Reliance Standard
Insurance Company. You also have the option to port any voluntary life insurance you have through LoJack. If you are interested in exploring either one or both of these options, please contact the Benefits Department at LoJack for the appropriate
forms as soon as possible. Please note that you only have 31 days to submit these forms to Reliance Standard Insurance Company in order to convert/port your current coverage to individual policies. 
  

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 4. Indemnification. The Company shall continue to provide you with indemnification as provided in
the Company’s By-Laws and Articles of Organization. 
 5. Releases. 
 (a) First General Release of Claims. In exchange for the promises set forth herein, you, on behalf of yourself and your heirs, executors,
administrators and assigns, hereby release and forever discharge LoJack Corporation, its affiliates and each of their respective directors, officers, employees, agents, successors and assigns, in their individual and official capacities, from any
and all suits, claims, demands, debts, sums of money, damages, interest, attorneys’ fees, expenses, actions, causes of action, judgments, accounts, promises, contracts, agreements, and any and all claims of law or in equity, whether now known
or unknown, which you now have or ever have had against them, or any of them, including, but not limited to, any claims under Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act, the Age Discrimination in Employment Act,
the Older Workers Benefit Protection Act, Massachusetts General Laws Chapters 149 and 151B and any other federal, state or local statute, regulation, ordinance or common law creating employment-related causes of action, and all claims related to or
arising out of your employment or the termination of your employment with LoJack. You also hereby waive any claim for reinstatement, attorney’s fees, or costs. Nothing in this General Release shall prevent you from seeking to enforce your
rights under this Agreement or any vested right which you have under any plans and grants referred to herein or any Company employee retirement or welfare benefit plan. You hereby represent that you have not previously filed or joined in any
complaints, charges or lawsuits against LoJack pending before any governmental agency or court of law relating to your employment and/or the cessation thereof. 
 (b) Second General Release of Claims. Your eligibility to receive the payments and benefits described in Section l(c) and Section 2 after the Resignation Date is conditional upon your signing and
delivering a second General Release of Claims containing substantially the same provisions of Section 5(a) with such changes as may be necessary or deemed desirable by LoJack because of changes in applicable law, releasing LoJack Corporation,
its affiliates and each of their directors, officers, employees, agents, successors and assigns, in their individual and official capacities, from any and all claims that may have arisen between the date you sign this Agreement and the Resignation
Date. Nothing in this General Release shall prevent you from seeking to enforce your rights under this Agreement or any vested right which you have under any plans and grants referred to herein or any Company employee retirement or welfare benefit
plan. 
 6. Reaffirmation of Confidentiality Obligation; Return of LoJack Property. You hereby acknowledge and reaffirm your
continuing obligation of confidentiality regarding LoJack’s Confidential and Proprietary Information as set forth in the LoJack Corporation Employee Obligations and Responsibilities. After your employment at LoJack, you will not at any time,
without LoJack’s prior written consent, reveal or disclose to any person outside of LoJack, or use for your own benefit or for the benefit of any other person or entity, any confidential information concerning LoJack’s business, customers,
clients, or employees. 

  

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Confidential information includes, without limitation, financial information, reports, forecasts, intellectual property, trade secrets, know-how, software,
market or sales information and plans, client lists, business plans, prospects and opportunities. All documents, records, materials, software, equipment, office entry cards or keys and other physical property, and all copies of the same that have
come into your possession or been produced by you in connection with your employment, have been and remain the sole property of LoJack. You agree that you shall return all such property to LoJack by your Resignation Date. 
 7. Non-solicitation; Non-hire; Covenant Against Competition. You agree that for a period of two (2) years after the conclusion of the Post
CFO Period (the “Restricted Period”) you will not, directly or indirectly, on your own behalf or on behalf of any third person or entity, and whether through your own efforts or through the efforts or employing the assistance of any other
person or entity (including without limitation any consultant or any person employed by or associated with any entity with whom you are employed or associated): 
 (a) knowingly hire or employ any employee of LoJack, or solicit or induce any such employee to terminate his/her employment or other relationship with LoJack. 
 (b) solicit or accept business, compensation, employment or other position from or own any interest in (i) any former or present partners,
affiliates or foreign licensees of LoJack or with Absolute Software Inc. or SCIN Inc.; or (ii) any person or entity engaged in any aspect of the business of stolen vehicle tracking and recovery, the tracking, location or recovery of valuable
mobile assets including safety and security vehicle telematics applications; provided, however, that this section 7(b) shall not limit or restrict you or your employer from providing professional accounting, consulting or advisory services to
LoJack, its officers or its licensees. You acknowledge that (i) the principal business of the Company (which expressly includes for purposes of this Section 7 and any related enforcement provisions hereof, its successors and assigns) is
the offering of products and services relating to stolen vehicle tracking and recovery, the tracking, location or recovery of valuable mobile assets including safety and security vehicle telematics applications; (ii) LoJack is one of the
limited number of persons who have developed such a business; (iii) LoJack’s business is national and international in scope; (iv) your work for LoJack has given you access to the confidential affairs and proprietary information of
the Company; (v) your covenants and agreements contained in Section 6 and this Section 7 are essential to the business and goodwill of LoJack; and (vi) LoJack would not have entered into this Agreement but for the covenants and
agreements set forth in Section 6 and this Section 7. Accordingly, you covenant, agree and acknowledge that (i) you have had an opportunity to seek advice of counsel in connection with this Agreement and (ii) the restrictive
covenants are reasonable in geographical and temporal scope and in all other respects. It is the express intent of the parties that (a) in case any one or more of the provisions contained in this Agreement shall for any reason be held to be
excessively broad as to duration, geographical scope, activity, or subject, such provision shall be construed by limiting and reducing it as determined by a court of competent jurisdiction, so as to be enforceable to the fullest extent compatible
with applicable law; and (b) in case any one or more of the provisions contained in this Agreement cannot be so limited and reduced and for any reason is held to be invalid, illegal, or unenforceable, such invalidity, illegality, or
unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. 
  

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 8. Mutual Non-Disparagement. You agree not to take any action or make any statement, written or
oral, that disparages LoJack or any of LoJack’s directors, officers, employees or agents, or that has the intended or foreseeable effect of harming LoJack’s reputation or the personal or business reputation of any of LoJack’s
directors, officers, employees or agents. Similarly, LoJack agrees that its directors and officers will not take any action or make any statement, written or oral, that disparages you or that has the intended or foreseeable effect of harming your
reputation or your personal or business reputation and will not authorize any other employee to make any statement in behalf of the Company. 
 9. Consultation with Counsel; Time for Signing; Revocation. You acknowledge that LoJack has advised you of your right to consult with an attorney of your own choice prior to signing this Agreement. You have until twenty-one
(21) days from your receipt of this Agreement to decide whether to sign it. You will have seven (7) days after signing this Agreement to revoke your signature. If you intend to revoke your signature, you must do so in a writing addressed
and delivered to me prior to the end of the 7-day revocation period. This Agreement shall not be effective, and neither LoJack nor you shall have any rights or obligations hereunder, until the expiration of the 7-day revocation period (“Final
Acceptance”). 
 10. Section 409A. In order to comply with Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), if you are determined to be a “specified employee” as defined in Section 409A of the Code at the time any payment of nonqualified deferred compensation is made, and the deferral of the commencement of
any payments or benefits otherwise payable hereunder as a result of your resignation is necessary in order to prevent the imposition of any accelerated or additional tax under Section 409A of the Code, the Company will defer the commencement of
the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to you) until the date that is six months following your Resignation Date with the Company and its affiliates (or
the earliest date as is permitted under Section 409A of the Code). 
 Further, it is the intention of the parties that no payment or
entitlement pursuant to this Agreement will give rise to any adverse tax consequences to any person pursuant to Section 409A of the Code. Notwithstanding any provision in this Agreement to the contrary, this Agreement shall be interpreted,
applied and to the minimum extent necessary, amended, so that this Agreement does not fail to meet, and is operated in accordance with, the requirements of Section 409A of the Code. Any reference in this Agreement to Section 409A of the
Code shall also include any proposed, temporary or final regulations, or any other guidance, promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service. 
 11. General Provisions. 
 a)
Severability. The invalidity or unenforceability of any provision of this Agreement shall in no way affect the validity or enforceability of any other provisions, or any part, hereof. 
 b) Enforcement; Applicable Law; Jurisdiction. This Agreement is intended to operate as a contract under seal and shall be governed by and
construed in accordance with the 

  

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laws of the Commonwealth of Massachusetts. You agree that all disputes arising under or out of this Agreement shall be brought in courts of competent
jurisdiction within the Commonwealth of Massachusetts and you hereby consent to exclusive jurisdiction in courts located in the Commonwealth of Massachusetts with respect to all matters arising out of or related to this Agreement. 
 c) Entire Agreement. This Agreement constitutes the entire agreement between you and LoJack concerning the terms and conditions of your separation
from employment with LoJack and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, between you and LoJack, except for (i) the LoJack Corporation Employee Obligations and
Responsibilities, referenced in Section 6, and (ii) your stock option agreement and restricted stock agreements with the Company, which shall remain in full force and effect except as expressly modified herein. You agree that LoJack has
not made any warranties, representations, or promises to you regarding the meaning or implication of any provision of this Agreement other than as stated herein. 
 d) Modification and Waiver. This Agreement may be amended or modified only by a written instrument signed by you and an authorized representative of LoJack. The failure of you or LoJack at any time to require
the performance of any provision of this Agreement shall in no manner affect the right of such party at a later time to enforce the same provision. 
 e) Successors and Assigns. All of the terms, conditions and obligations hereof shall be for and inure to the benefit of and shall be enforceable by the successors and assigns of LoJack Corporation. You hereby assent to the assignment
of this Agreement by LoJack to any successor to or assignee of its business. 
 Please indicate your understanding and acceptance of this
Agreement by signing and returning one copy to me. The other copy is for your records. 
  

			
	Sincerely,	  	
		
	 /s/ Richard T. Riley
	  	
	Richard T. Riley, CEO	  	
		
	LoJack Corporation	  	
		
	Accepted and Agreed	  	
		
	 /s/ Michael Umana
	  	Dated: June 23, 2008
	Michael Umana	  	

  

 Page 6Labor Contract

 Exhibit 10.1 
 LABOR CONTRACT 
 with Director General of PARLIAMENT DISTRIBUTION,

 Limited Liability Company 
 No 424 
  

			
	Balashikha city	  	April «1», 2008

 The LIMITED LIABILITY COMPANY «Parliament Distribution»,
hereinafter referred to as the COMPANY, acting by Mr. William V. Carey, the Director of the Limited Liability Company COPECRESTO ENTERPRISES LIMITED (the only stakeholder of THE COMPANY), acting under the Resolution #6 of
the Only Stakeholder of THE COMPANY d.d. 12.03.2008, the RF Federal Law on Limited Liability Companies, the Charter of THE COMPANY, on the one part, and Mr. Sergey Vladimirovich Kupriyanov, hereinafter referred to as THE
EMPLOYEE, on the other part, agree as follows: 
 1. SUBJECT OF CONTRACT 
 1.1. THE EMPLOYEE is assigned on the position of the Director General of the LIMITED LIABILITY COMPANY «Parliament Distribution» (Resolution
#6 of the Only Stakeholder of THE COMPANY d.d. 12.03.2008). 
 1.2. THE COMPANY is the primary employment. The employee only can take other
gainful occupations in other organizations upon the permission from the General stakeholders’ meeting (from the Only Stakeholder). 
 1.3. THE EMPLOYEE came into office as of 01.04.2008

. 
 1.4. The labor contract is concluded for the period of 5 (Five) years in compliance with the cl.11.11 of
art. 11 of THE COMPANY’s Charter and part 2 of cl.59 of the RF Labor Code. 
 2. LEGAL OBLIGATIONS OF THE PARTIES 
 2.1. THE COMPANY assigns, and THE EMPLOYEE accedes to the administration of the current activity of THE COMPANY for the period of this Contract.

 2.2. THE EMPLOYEE on his own discretion deals with all issues of THE COMPANY’s activities, allocated to the area of his competency by
this Contract, by THE COMPANY’s Charter, by the internal documents of THE COMPANY, by the Resolutions of the General stakeholders’ meeting (of the Only Stakeholder), and by the actual legislation of the Russian Federation. 
 2.3. THE EMPLOYEE is accountable to the General stakeholders’ meeting (to the Only Stakeholder) of THE COMPANY. 
 2.4. THE EMPLOYEE is obliged to fulfill the following employment duties: 
  

	 	•	 	 In accordance with the actual legislation, to manage production, economical and financial activity of THE COMPANY, bearing full responsibility for the consequences
of the decisions made, for safety and efficient use of THE COMPANY’s equity, and for the economic and financial results of THE COMPANY’s operations; 

  

	 	•	 	 to organize operating and efficient collaboration of all structure units, lead their activity to development and perfection of business-processes taking into
account marketing and social priorities, increase of work efficiency of THE COMPANY, broadening sales markets of the products, increase of turnover and profits, quality and competitive advantages of the product sold, their compliance with
international standards for the purpose of gaining local and international market, satisfying the consumer needs in corresponding kinds of products, provide fulfillment of business plans; 

  

	 	•	 	 to ensure fulfillment by THE COMPANY of all its obligations to federal, regional and local budgets, State non-budgetary social funds, legal entities and other
creditors of THE COMPANY under THE COMPANY’s miscellaneous agreements, as well as fulfillment of economic and labor agreements (contracts); 

  

	 	•	 	 to organize commercial procurement and economical production activity based on wide use of newest technologies and know-how, modern management and labor patterns,
scientifically proved cost ratios (material, finance and labor), monitoring the market trends and latest experience (both local and international) for the purpose of total increase in performance standards and quality of products
(services), economical efficiency of its production, rational use and economy in using all kinds of resources; 

  

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	 	•	 	 to take measures to supply THE COMPANY with qualified personnel, efficient use and development of their professional knowledge and skills, creation of safe,
friendly and healthy labor environment, compliance with environmental-protection legislation requirements; 

  

	 	•	 	 to provide optimal balance between the economic and administrative management methods; between the undivided authority and collectivity in discussion and
dealing with different issues; between material and non-material award methods of increasing of production efficiency; between applying of principle of material interest with personal responsibility for the results and the results of
the whole team work; to ensure timely payment of salaries; 

  

	 	•	 	 to provide observation of labor discipline and production discipline; to take measures on creation of regular labor conditions; to ensure labor safety;

  

	 	•	 	 to resolve issues of production, economical and financial activity of THE COMPANY, within areas of rights, granted to him by the legislation; assign management of
separate areas of activity to other administrators – Deputy General Directors, Heads of THE COMPANY’s divisions; 

  

	 	•	 	 to ensure compliance with legislation in THE COMPANY’s operations and in maintaining its economic relations, use of legal tools in financial management and
operating in market conditions; strengthening of contract and financial discipline, managing social and labor relations, providing the investment attraction of THE COMPANY for the purpose of support and increase of scales of business
activity. To undertake all the necessary action to protect property interests of THE COMPANY in court, arbitrary, bodies of state authority. 

 2.5. THE EMPLOYEE has the rights and the obligations as follows: 
  

	 	•	 	 the right of the first signature of all financial, economic, and other documents of THE COMPANY; 

  

	 	•	 	 to act on behalf of THE COMPANY without power of attorney, to represent THE COMPANY in transactions with individuals and legal entities both in the Russian
Federation and abroad; 

  

	 	•	 	 within the competency area, set by THE COMPANY’s Charter, to manage THE COMPANY’s equity, to conclude deals on behalf of THE COMPANY, to issue powers of
attorney; to establish THE COMPANY’s settlement and other accounts – in banks, other credit organizations (in certain cases, stated by the law, in organizations – professional participants of the securities market);

  

	 	•	 	 to issue resolutions, to approve instructions and local legal acts and other internal documents of THE COMPANY depending on his competence; to issue directions,
mandatory for all THE COMPANY’s employees; 

  

	 	•	 	 to consider current and prospective work plans; 

  

	 	•	 	 to ensure the fulfillment of THE COMPANY’s plans of activity, required to achieve its goals; 

  

	 	•	 	 to organize accounting records and reporting maintenance in THE COMPANY; 

  

	 	•	 	 to approve THE COMPANY’s organization structure; 

  

	 	•	 	 in accordance with the general structure of the executive tools of THE COMPANY, to approve the list of staff and salaries of the employees of THE COMPANY;

  

	 	•	 	 towards THE COMPANY’s staff, to execute rights and meet obligations as an employer, provided by labor legislation; 

  

	 	•	 	 distributes obligations among deputies; 

  

	 	•	 	 to submit THE COMPANY’s annual report and the balance sheet for approval by the General stakeholders’ meeting (the Only Stakeholder);

  

	 	•	 	 to organize the preparation on annual (quarterly) business-plan, THE COMPANY’s budget and annual (quarterly) report of fulfillment of the business-plan and of
THE COMPANY’s budget; 

  

	 	•	 	 to prepare the report of financial and economic activity of THE COMPANY, on fulfillment by the Director General of resolutions by the General stakeholders’
meeting (by the Only Stakeholder); 

  

	 	•	 	 to approve plans and events on education and advanced training for the employees of THE COMPANY; 

  

	 	•	 	 to approve the reports by Deputy General Directors of THE COMPANY, by heads of THE COMPANY’s divisions on the results of fulfillment of the approved plans,
programs, instructions, to consider reports, documents and other information on THE COMPANY’s activity and its subsidiary and dependant companies; 

  

	 	•	 	 to provide the fulfillment of THE COMPANY’s contract liabilities; 

  

	 	•	 	 to provide safety of material values, owned by THE COMPANY; 

  

	 	•	 	 to ensure implementation of the Resolutions of the General stakeholders’ meeting (of the Only Stakeholder); 

  

	 	•	 	 to resolve difficult matters of THE COMPANY’s current activity, with the exception to the issues allocated to competency areas of other management bodies of
THE COMPANY. 

 2.6. THE EMPLOYEE is to comply with THE COMPANY’s internal labor rules, production and finance
discipline, faithfully perform the employment duties, as stated in cl. 2.4 of this labor contract and perform the obligations in accordance with cl.2.5. of this labor contract. 
  

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 2.7. THE COMPANY is obliged: 
 2.7.1. To provide THE EMPLOYEE with job in accordance with the provisions of this labor contract. THE COMPANY can only request THE EMPLOYEE to perform
obligations (activities) not stated in this labor contract in cases, stipulated by the labor legislation of the Russian Federation. 
 2.7.2.
To provide THE EMPLOYEE of THE COMPANY with information, documents and materials, required for performing management functions, administering the current operations of THE COMPANY, and on issues to be considered at the General stakeholders’
meeting (by the Only Stakeholder) – in cases, when the corresponding body requires the Director General to attend its meeting (session). 
 2.7.3. To pay the remuneration to THE EMPLOYEE in procedure and size, stated by this Contract, and to provide THE EMPLOYEE with guarantees stated by the labor legislation of the RF. 
 3. WORKING TIME 
 3.1. THE EMPLOYEE has a 5-day working week of 40 hours, 8 hours a
day. Saturdays and Sundays are off work. 
 3.2. THE EMPLOYEE’s work on the position stated in cl. 1.1 of this Contract, is conducted
under regular working conditions. 
 3.3. Each year THE EMPLOYEE gets a 28-days vacation period. In case THE EMPLOYEE has not yet been
working for 6 month, the vacation period is granted in advance. 
 4. LIABILITY OF THE PARTIES 
 4.1. In case of not fulfillment or undue fulfillment by THE EMPLOYEE of the obligations, stated in this Contract, concluding deals which do not
correspond to market trends and THE COMPANY’s interests, breach of labor legislation, the internal labor rules of THE COMPANY, and incurring damage to THE COMPANY, THE EMPLOYEE is liable under disciplinary, financially or other responsibility
in accordance to the actual legislation of the RF. 
 4.2. THE COMPANY is liable under financial and other responsibility, in accordance to
the actual legislation, in cases of: 
 a) illegal deprivation of THE EMPLOYEE of the possibility to work; 
 b) non-payment by THE COMPANY to THE EMPLOYEE in due course and (or) in due amount of remuneration and compensations, provided by the legislation of the
RF and by this Contract; 
 c) causing of harm to THE EMPLOYEE’s life, health and (or) to the equity; 
 d) in other cases, stated by the legislation of the RF. 
 In cases, stipulated by law, THE COMPANY is obliged to compensate to THE EMPLOYEE the moral damage, inflicted by wrongful actions of THE COMPANY. 
 4.3 THE EMPLOYEE takes full financial responsibility for both direct damage, inflicted to THE COMPANY, and for the losses, incurred as a result of
compensation of damage to the third parties. 
 In cases, stipulated by federal law, THE EMPLOYEE is obliged to compensate to THE COMPANY for
the losses, incurred by his action (inaction). The loss calculation is based upon the norms provided by the civil legislation. 
 5.
COMPENSATION PACKAGE 
 5.1. THE COMPANY guarantees to THE EMPLOYEE the monthly remuneration of 1 041 670 rubles. 
 5.2. The amount stated in cl. 5.1 of this Contract is to be paid in periods, set by THE COMPANY in accordance with the Labor Code of the RF. 

6. GUARANTEES AND COMPENSTIONS 
 6.1. For
the period of this labor contract, all the guarantees and compensations provided by the actual labor legislation of the RF are provided to THE EMPLOYEE. 
 6.2. In case of premature termination of this Contract by the decision of empowered body of THE COMPANY or by the owner of THE COMPANY’s equity, or by empowered by the owner person or body (cl. 279 RF LC), THE
EMPLOYEE gets the compensation for the premature termination of the labor Contract in the amount of his average salary for the 3-months period. 
  

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 7. KINDS AND CONDITIONS OF SOCIAL INSURANCE 
 7.1. THE COMPANY guarantees provision of THE EMPLOYEE with an insurance within the system of mandatory social insurance. 
 8. SPECIAL PROVISIONS 
 8.1. The
conditions of this Contract are confidential and are not subject to disclosure. 
 8.2. The conditions of this Contract are legally mandatory
for the parties. All the changes and amendments to this labor Contract are made in a form of written agreement, signed by both parties. 
 8.3.The differences between the parties, should they arise in the course of realization of the labor contract, are to be settled in the course, provided in the actual RF legislation. 
 8.4. On all other matters, not mentioned in this labor Contract, the parties act in accordance with the RF legislation, which regulates labor relations.

 8.5. The Contract is made in two copies, with equal legal power, one of them is kept by THE COMPANY, the other – by THE EMPLOYEE.

 9. ADDRESSES, REQUISITES, SIGNATURES OF THE PARTIES 
  

			
	THE COMPANY:	  	THE EMPLOYEE:
		
	 Parliament Distribution,
 Limited Liability
Company
	  	Mr. Sergey Vladimirovich Kupriyanov
	 PSRN 1075001003780
 Reg.No 5001063490
	  	Passport No 46 02 269576 issued 19.03.2002 by the 2st division of militsia of Balashikha Directorate of Internal Affairs in Moscow region, division code 503-002
		
	 Address:
 estate 5, Popovka str., Saltykovka district,
Moscow region, 143956,
	  	 Address:
 153, bld.1, Pionerskaya str., Balashikha,
Moscow region, Russia, 115547

  

					
	On behalf of the employer:	 		 	THE EMPLOYEE:
			
	 /s/ William V. Carey
	 		 	 /s/ Sergey V. Kupriyanov

	William V. Carey	 		 	Sergey V. Kupriyanov

  

			
	
	The copy of this contract received:
	 «    1    »    April      2008

.
	  	

									
					
	 /s/ Sergey
	 	/	 		 	 /s/ Kupriyanov
	 	/

  

 4

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