SEC Contract Filing

Filing Date: 2018-12-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ss117512_ex1001.htm
<DESCRIPTION>LINDA EMPLOYMENT AGREEMENT
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<div style="TEXT-ALIGN: center; FONT-WEIGHT: bold">EMPLOYMENT AGREEMENT</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Employment Agreement (this &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Agreement</u></font>&#8221;), dated as of December 4, 2018, and effective as of November 7, 2018 (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Effective Date</u></font>&#8221;), is made by and between Volt Information Sciences, Inc., a New York corporation (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Company</u></font>&#8221;), and Linda Perneau (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Executive</u></font>&#8221;) (collectively, the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Parties</u></font>&#8221; and each, a &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Party</u></font>&#8221;).&#160; As of the Effective Date, this Agreement shall supersede and replace in its entirety, that certain Employment Agreement dated February 12, 2018, by and between the Parties (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Prior Agreement</u></font>&#8221;), and, except as expressly set forth herein, the Executive shall no longer have any rights or benefits thereunder.&#160; In addition to the terms defined elsewhere herein, initial capitalized terms have the meanings given to them in <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Section 25</u></font>.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Term</u></font>.&#160; Subject to <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Section 7</u></font>, the Executive&#8217;s employment will be for an initial term of three years commencing upon the Effective Date (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Initial Employment Term</u></font>&#8221;).&#160; At the end of the Initial Employment Term and on each succeeding anniversary of the Effective Date, the Employment Term will be automatically extended by one additional year (each, a &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Renewal Term</u></font>&#8221;), unless, not less than 60 days prior to the end of the Initial Employment Term or any Renewal Term, either the Executive or the Company has given the other written notice of nonrenewal.&#160; For purposes of this Agreement, any reference to the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Employment Term</u></font>&#8221; of this Agreement shall include the Initial Employment Term and any Renewal Term(s).&#160; For the avoidance of doubt, any nonrenewal of this Agreement will not be considered a termination of the Executive&#8217;s employment by the Company without &#8220;Cause&#8221; for purposes of determining the Executive&#8217;s eligibility for severance under <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Section 7</u></font> of this Agreement.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Employment</u></font>.&#160; During the Employment Term, the Executive will serve as the President and Chief Executive Officer of the Company.&#160; The Executive will also serve as an officer, director, or employee of any other member of the Company Group, as may be applicable, on the terms and conditions set forth herein, and without any additional compensation.&#160; The employment relationship between the Company and the Executive will be governed by the applicable general employment policies and practices of the Company Group in effect from time to time, including those relating to ethics and business conduct, confidential information, harassment and discrimination, expense reimbursement and avoidance of conflicts (together, the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Company Policies</u></font>&#8221;).</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Position and Duties of the Executive</u></font>.&#160; The Executive will report directly to the Company&#8217;s Board of Directors (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Board</u></font>&#8221;), and have such duties, responsibilities, and authorities commensurate with the Executive&#8217;s title and position, and such duties, responsibilities and authority as may be a