SEC Contract Filing

Filing Date: 2016-10-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>esnd-ex103_146.htm
<DESCRIPTION>EX-10.3
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.3</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;"><font style="text-decoration:underline;">amended and restated</font></p>
<p style="text-align:center;margin-bottom:24pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;"><font style="text-decoration:underline;">EXECUTIVE EMPLOYMENT AGREEMENT</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_DV_M1"></a>THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT<font style="font-weight:normal;"> (this &#8220;</font>Agreement<font style="font-weight:normal;">&#8221;) is entered into effective as of January 1, 2017 </font><font style="color:#000000;font-weight:normal;">(the &#8220;</font><font style="color:#000000;">Effective Date</font><font style="color:#000000;font-weight:normal;">&#8221;) by and among ESSENDANT INC., a Delaware corporation (hereinafter, together with its successors, referred to as &#8220;</font><font style="color:#000000;">Holding</font><font style="color:#000000;font-weight:normal;">&#8221;), ESSENDANT CO., an Illinois corporation (hereinafter, together with its successors, referred to as the &#8220;</font><font style="color:#000000;">Company</font><font style="color:#000000;font-weight:normal;">&#8221;), ESSENDANT MANAGEMENT SERVICES, LLC., an Illinois limited liability company (hereinafter, together with its successors, referred to as &#8220;</font><font style="color:#000000;">EMS</font><font style="color:#000000;font-weight:normal;">&#8221;) (with Holding, the Company, EMS, and their respective subsidiaries and affiliates including the entity employing the Executive, and any successors thereto, hereinafter referred to as the &#8220;</font><font style="color:#000000;">Companies</font><font style="color:#000000;font-weight:normal;">&#8221;), and Robert B. Aiken, Jr. (hereinafter referred to as the &#8220;</font><font style="color:#000000;">Executive</font><font style="color:#000000;font-weight:normal;">&#8221;).</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <font style="font-weight:bold;">WHEREAS</font>, the Companies and Executive are parties to an offer employment in the form of a letter agreement dated July 22, 2015 (the &#8220;<font style="font-weight:bold;">Offer of Employment</font>&#8221;) and an Executive Employment Agreement dated July 22, 2015 (the &#8220;<font style="font-weight:bold;">Prior Agreement</font>&#8221;); and</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Companies and Executive acknowledge and agree that it is in their mutual best interests to amend and restate the Prior Agreement to clarify certain provisions of the Agreement</font><font style="font-weight:normal;color:#000000;">; and</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><a name="_DV_M4"></a><a name="_DV_M5"></a><a name="_DV_C17"></a><a name="_DV_M5"></a><font style="font-weight:bold;">WHEREAS</font><a name="_DV_C17"></a>, Executive is a key member of the management of the Companies and is expected to devote substantial skill and effort to the affairs of the Companies, and the Companies desire to recognize the significant personal contribution that Executive makes and is expected to continue to make to further the best interests of the Companies and their shareholders; and</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><a name="_DV_M7"></a><a name="_DV_C18"></a><font style="font-weight:bold;">WHEREAS</font>, it is desirable and in the best interests of the Compan<a name="_DV_C18"></a>ies and its shareholders to obtain the benefits of Executive&#8217;s services and attention to the affairs of the Companies, and to provide inducement for Executive (1) to remain in the service of the Companies in the event of any proposed or anticipated Change of Control and (2) to remain in the service of the Companies in order to facilitate an orderly transition in the event of a Change of Control; and</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><a name="_DV