Document:

ex10-2.htm

 

Exhibit 10.2

 

FIRST AMENDMENT TO APRIL 1, 2010

EMPLOYMENT AGREEMENT

This First Amendment to April 1, 2010, Employment Agreement (“Amendment”) is made and entered into effective as of the 27th day of August 2010, by and between West Bancorporation, Inc. and Douglas R. Gulling.

WHEREAS, West Bancorporation, Inc. and Douglas R. Gulling are parties to an employment agreement that became effective on April 1, 2010 (the “Agreement”),

WHEREAS, West Bancorporation, Inc. and Douglas R. Gulling desire to amend the Agreement,

NOW, THEREFORE, it is mutually agreed as follows:

1.           Amendment to Paragraph 3.  Paragraph 3 of the Agreement is hereby deleted in its entirety and replaced and superseded by the following:

3.  On and after September 1, 2010, your annual base salary will be $225,000 ("Base Salary") to be paid in accordance with the Company’s regular payroll practices (less any withholdings and deductions required by law or authorized by you).  Your Base Salary may be subsequently increased, but not decreased, by the Board in accordance with its executive compensation plans and policies.

2.           Amendment to Paragraph 4.  Paragraph 4 of the Agreement is hereby deleted in its entirety and replaced and superseded by the following:

4.  For 2011 and after, you shall be eligible to receive a performance bonus of up to forty percent of the amount of your Base Salary for each calendar year worked in accordance with the Company's senior executive bonus plan then in effect ("Performance Bonus").  The amount, if any, of such bonus shall be determined by the Board in its sole discretion.  Any Performance Bonuses awarded while the Company is participating in the Department of the Treasury’s TARP program will be paid in long-term restricted stock.  The stock restrictions shall include (1) a vesting period of not more than the longer of three years from the grant date or the time of repayment of all TARP funds and (2) a requirement that you be employed by the Company on each vesting date.  To the extent not precluded by law or any TARP restriction, each Performance Bonus shall fully vest if you become permanently and fully disabled or die or in the event of a change in control of the Company or a sale of substantially all of the Company’s operating assets.  The Board’s Compensation Committee has the sole discretion to impose stock restrictions under the West Bancorporation, Inc. Restricted Stock Compensation Plan.

3.           Deletion of Paragraph 5.  Paragraph 5 of the Agreement is hereby deleted in its entirety.

4.           No Other Modifications.  Except as herein modified, the Agreement remains in effect as originally executed.

5.           Entire Agreement.  This Amendment shall be affixed to the Agreement and become a part thereof.

6.           Binding Agreement.  The undersigned hereby agree and consent to be bound by the terms of the Agreement, as hereby amended.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of August 27, 2010.

	
/s/ David R. Milligan

	  	
/s/ Douglas R. Gulling

	  
	
David R. Milligan

	  	
Douglas R. Gulling

	  
	
Chairman, Board of Directors

	  	  	  
	
West Bancorporation, Inc.ex10-3.htm

 

Exhibit 10.3

 

FIRST AMENDMENT TO APRIL 1, 2010

EMPLOYMENT AGREEMENT

This First Amendment to April 1, 2010, Employment Agreement (“Amendment”) is made and entered into effective as of the 27th day of August 2010, by and between West Bancorporation, Inc. and Brad L. Winterbottom.

WHEREAS, West Bancorporation, Inc. and Brad L. Winterbottom are parties to an employment agreement that became effective on April 1, 2010 (the “Agreement”),

WHEREAS, West Bancorporation, Inc. and Brad L. Winterbottom desire to amend the Agreement,

NOW, THEREFORE, it is mutually agreed as follows:

1.           Amendment to Paragraph 3.  Paragraph 3 of the Agreement is hereby deleted in its entirety and replaced and superseded by the following:

3.  On and after September 1, 2010, your annual base salary will be $225,000 ("Base Salary") to be paid in accordance with the Company’s regular payroll practices (less any withholdings and deductions required by law or authorized by you).  Your Base Salary may be subsequently increased, but not decreased, by the Board in accordance with its executive compensation plans and policies.

2.           Amendment to Paragraph 4.  Paragraph 4 of the Agreement is hereby deleted in its entirety and replaced and superseded by the following:

4.  For 2011 and after, you shall be eligible to receive a performance bonus of up to forty percent of the amount of your Base Salary for each calendar year worked in accordance with the Company's senior executive bonus plan then in effect ("Performance Bonus").  The amount, if any, of such bonus shall be determined by the Board in its sole discretion.  Any Performance Bonuses awarded while the Company is participating in the Department of the Treasury’s TARP program will be paid in long-term restricted stock.  The stock restrictions shall include (1) a vesting period of not more than the longer of three years from the grant date or the time of repayment of all TARP funds and (2) a requirement that you be employed by the Company on each vesting date.  To the extent not precluded by law or any TARP restriction, each Performance Bonus shall fully vest if you become permanently and fully disabled or die or in the event of a change in control of the Company or a sale of substantially all of the Company’s operating assets.  The Board’s Compensation Committee has the sole discretion to impose stock restrictions under the West Bancorporation, Inc. Restricted Stock Compensation Plan.

3.           Deletion of Paragraph 5.  Paragraph 5 of the Agreement is hereby deleted in its entirety.

4.           No Other Modifications.  Except as herein modified, the Agreement remains in effect as originally executed.

5.           Entire Agreement.  This Amendment shall be affixed to the Agreement and become a part thereof.

6.           Binding Agreement.  The undersigned hereby agree and consent to be bound by the terms of the Agreement, as hereby amended.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of August 27, 2010.

	
/s/ David R. Milligan

	  	
/s/ Brad L. Winterbottom

	  
	
David R. Milligan

	  	
Brad L. Winterbottom

	  
	
Chairman, Board of Directors

	  	  	  
	
West Bancorporation, Inc.DC9205.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing

	
Amendment to

Employment Agreement

     This Amendment to Employment Agreement (this “Amendment”) is made and entered into as of August 23, 2010, by and between Identive
Group, Inc., a Delaware corporation formerly known as SCM Microsystems, Inc. (the “Company”), and Felix Marx (the “Executive”).

     WHEREAS, the Company and Executive entered into an employment agreement, dated as of March 1, 2010 (the “Agreement”); and

     WHEREAS, the Company and Executive have agreed to a newly created role for the Executive, and, pursuant to Section 11 of the Agreement, the Company and the Executive desire to amend the Agreement to
reflect such agreement.

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and for other good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

	
1.      		
The Agreement is hereby amended as follows:	
	 
	 	
a.      		
The second paragraph of the Agreement is deleted in its entirety and replaced with the following:	
	 
	 	 	
“The Executive has been appointed Executive Vice President Transponders & Semiconductors, responsible for directing the growth and management of the Company’s TagStar Systems and ACiG Technology businesses. In
addition, the Executive is appointed as CEO of ACiG Technology.”	
	 
	 	
b.      		
Section 1 – Position and Responsibilities of the Agreement is deleted in its entirety and replaced with the following:	
	 
	 	 	
“Executive shall serve the Company in the capacity of Executive Vice President Transponders & Semiconductors and shall fully and faithfully perform such duties and exercise such powers as are incidental to such position
including those duties set out in the following paragraphs in connection with the business of the Company and its affiliates.	
	 
	 	 	
Executive will work closely with the Company and its respective group companies generating strong organic growth in the TagStar Systems and ACiG Technology businesses of the Company, and in this role; the executive will have
direct reporting responsibility for TagStar Systems and ACiG Technology businesses. In addition the Executive is appointed as CEO of ACiG Technology.	
	 

	 	
Executive shall fully and faithfully perform such duties and fulfill such obligations, as are commensurate with his appointment as Executive. Executive shall devote his full attention by using his best efforts to apply his skills
and experience to perform his duties hereunder and promote the interests of the business and projects of the Company.	
	 
	 	
The Executive acknowledges that he may be required to work beyond the normal work week for the proper performance of his duties, and that he shall not receive further remuneration in respect of such additional hours.	
	 
	 	
The Executive shall be normally based in Germany; however the Company will cover all of the Executive’s reasonable travel and communication costs to other Identive Group business offices.	
	 
	 	
The Executive agrees to travel on the Company’s business as may be required for the proper performance of his duties under this Agreement.”	
	 
	
c.      		
All references in Sections 3 and 9 of the Agreement to “Austria” or “Austrian” are deleted and replaced with “Germany” or “German,” as appropriate.	
	 
	
d.      		
In Section 10, the reference to “Vienna, Austria” is deleted and replaced with “Ismaning, Germany.”	
	 

     2. Capitalized terms used in this Amendment and not otherwise defined shall have the respective meanings ascribed to such terms in the Agreement.  Except as otherwise expressly amended by this
Amendment, the Agreement shall remain in full force and effect and is hereby in all respects ratified and confirmed, and as so amended by this Amendment, the Agreement shall be read, taken and construed as one instrument.  This Amendment shall be
governed by and construed in accordance with the law of Germany.

     3. This Amendment may be executed in any number of counterparts, all of which shall be considered one and the same instrument and shall become effective when one or more counterparts have been signed
by each of the parties and delivered to the other party. This Amendment may be executed by facsimile signature and a facsimile signature shall constitute an original for all purposes.

2

     IN WITNESS WHEREOF, the parties have duly executed this Amendment to Employment Agreement, or caused this Amendment to be duly executed, on the date first above written.

IDENTIVE GROUP, INC.

By: /s/ Ayman S. Ashour Name: Ayman S. Ashour Title: Chief Executive Officer

EXECUTIVE

/s/ Felix Marx Felix Marx

3

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