SEC Contract Filing

Filing Date: 2017-06-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>d408405dex105.htm
<DESCRIPTION>EXECUTIVE EMPLOYMENT AGREEMENT - MARIE TEDESCO
<TEXT>
<HTML><HEAD>
<TITLE>Executive employment agreement - Marie Tedesco</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYMENT AGREEMENT</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Employment Agreement (&#147;Agreement&#148;) made this 8th day of June 2017, by and between Beasley Mezzanine Holdings, LLC (&#147;Employer&#148;) and Marie Tedesco (&#147;Employee&#148;) (Employer and Employee each &#147;Party&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In consideration of the mutual covenants herein contained, the parties hereto hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. <U>EMPLOYMENT.</U></B> Employer hereby employs Employee and Employee hereby accepts such employment by Employer upon the terms and
conditions set forth herein as Chief Financial Officer of Employer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2. <U>TERM OF EMPLOYMENT.</U></B> (a)&nbsp;Initial Term. The
initial term of employment shall begin on January&nbsp;1, 2017 (&#147;Commencement Date&#148;) and expire on December&nbsp;31, 2019 (&#147; Initial Term&#148;), however, Employer may terminate this Agreement at any time &#147;without cause&#148; or
&#147;for cause&#148; (as defined in Section&nbsp;7 hereof). (b)&nbsp;<U>Extension.</U>&nbsp;The term hereunder shall be extended for successive one-year periods (&#147;Extension Terms&#148; and, collectively with the Initial Term, the
&#147;Term&#148;) upon the mutual agreement of the parties in writing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3. <U>SERVICES.</U></B> Employee&#146;s principal duties shall
be those of performing services as Chief Financial Officer for Employer at times and days determined by Employer in accordance with the terms and conditions set forth herein. Subject to reasonable modification from time to time by the Board of
Directors or by the Chief Executive Officer, Employee shall report to the Chief Executive Officer and shall serve as Chief Financial Officer of the Employer with such customary responsibilities, duties and authority as are usually incident to the
position of Chief Financial Officer. Employee shall be responsible for the financial plans, policies and management of the Employer along with its accounting practices and relationships with lending institutions, shareholders and the financial
community. Employee shall direct the accounting, cash management, tax, budget, credit and treasury functions and activities associated with the security and investment of assets and funds that ensures that financial transactions, policies and plans
meet short- and long-term objectives and regulatory requirements. Employee will, on a full-time basis, apply all of her skill and experience to the performance of her duties in such employment and will not, without the prior consent of the Board of
Directors, devote substantial amounts of time to outside business activities. Notwithstanding the foregoing, Employee may devote a reasonable amount of her time to civic, community, charitable or passive investment activities. Employee agrees and
acknowledges that Employer retains sole discretion to change the scope and extent of Employee&#146;s duties at any time, subject only to the terms of this Agreement, including but not limited to reassigning any of the duties herein to another
employee; relieving Employee of any of the duties herein; and/or eliminating, removing, reassigning or relieving Employee of any of the titles granted to Employee herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4. <U>EFFORTS OF EMPLOYEE.</U></B> Employee shall not enter into any agreement or contract on behalf of Employer or commit to any
obligation without the prior approval of Employer. Employee shall faithfully and diligently discharge his/her duties and responsibilities and shall exert his/her best efforts and abilities to maintain and preserve good relationships with suppliers,
advertisers, customers, lessors, governmental agencies, and others having business dealings with Employer. Employee shall not, during the Term, be or become involved or interested, directly or indirectly, in any manner, as a partner, officer.
director, stockholder, advisor, inventor, creditor, employee or in any other capacity in any Business as defined in Attachment A; provided, however, that Employee may, as a passive investor, invest personal funds in the capital stock or other
securities of a corporation or other entity, provided Employee owns less than one percent (1%)&nbsp;of the equity securities of such entity or an investment in such entity represents less than five percent (5%)&nbsp;of the total assets of Employee.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5. <U>COMPENSATION</U>. </B>In consideration of entering into this Agreement, during the Term: </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Employer shall pay to Employee and Employee agrees to accept from Employer for
Employee&#146;s full and faithful performance by Employee of services provided hereunder, an an