SEC Contract Filing

Filing Date: 2015-03-04

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>mm03-0415_8ke103.htm
<DESCRIPTION>EX.10.3 - GENERAL RELEASE
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<div style="TEXT-ALIGN: right"><font style="FONT-STYLE: italic; FONT-WEIGHT: bold; TEXT-DECORATION: underline">EXHIBIT 10.3</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">I, Robert J. Lackman, in consideration of and subject to the performance by The Hillman Companies, Inc., a Delaware corporation (together with its subsidiaries, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), of its obligations under the Employment Agreement, dated as of September __, 2010, (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Agreement</font>&#8221;), do hereby release and forever discharge as of the date hereof Holdings (as defined below), the Company or any of their respective affiliates and all present and former directors, managers, officers, agents, representatives, employees, attorneys, affiliated or unaffiliated benefit plans and affiliated investment funds of Holdings, the Company and any of their respective affiliates and the direct or indirect owners of Holdings, the Company and any of their respective affiliates, and each of the foregoing persons successors and assigns and all persons acting by, through, under, or in concert with any such person, in their individual, corporate and official capacities (collectively, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Released Parties</font>&#8221;) to the extent provided below.</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">I understand that any payments or benefits paid or granted to me under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(d)</font> of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled.&#160;&#160;I understand and agree that I will not receive the payments and benefits specified in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(d)</font>&#160;&#160;of the Agreement unless I (X) execute this General Release within the twenty-one (21) day period following my receipt of this General Release and do not thereafter revoke it prior to the expiration of the Revocation Period (as defined below), (Y) continue to comply with the terms of this General Release, and (Z) continue to comply with the covenants set forth in the Agreement that survive the termination of my employment (including the restrictive covenants set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7</font> of the Agreement).&#160;&#160;I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of any employment by the Company.&#160;&#160;For the avoidance of doubt, the payments and benefits specified in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(d)</font> of the Agreement to which I shall be entitled (subject to my continued compliance with the terms of this General Release and the covenants set forth in the Agreement that survive the termination of my employment (including the restrictive covenants set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7</font> of the Agreement)) following my execution of this General Release, without revocation during the Revocation Period, are limited to the following based on the Company&#8217;s termination of my employment without cause and with my last day of employment being no later than February 27, 2015:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a) a consulting payment in the amount of $50,000 payable within ninety (90) days following my last day of employment, provided that I have cooperated with the Company, in the Company&#8217;s opinion, on post-termination transition issues;</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(b) a s