SEC Contract Filing

Filing Date: 2017-06-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s2cb0cf0093b54783845042e9da1cbf2c"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;padding-top:4px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:4px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Employment Agreement (this &#8220;Agreement&#8221;) by and between Employers Holdings, Inc., a Nevada corporation (the &#8220;Company&#8221;) and John P. Nelson (the &#8220;Employee&#8221;) is entered into as of the 26th day of June, 2017, effective as of January 1, 2018 (the &#8220;Effective Date&#8221;). Effective as of the Effective Date, this Agreement amends, restates and supersedes, in its entirety, the Employment Agreement effective January 1, 2012, by and between the Employee and the Company (the &#8220;Prior Employment Agreement&#8221;). In addition, effective as of the Effective Date, this Agreement shall replace and supersede, in its entirety, any other prior employment agreement or agreements between the Employee and the Company (these agreements, together with the Prior Employment Agreement, the &#8220;Prior Agreements&#8221;) and the Prior Agreements shall be of no force or effect. Notwithstanding the foregoing, if the Employee&#8217;s employment terminates for any reason prior to the Effective Date, then this Agreement shall be null and void and shall not become effective.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">A. The Employee has knowledge and experience applicable to the position of Executive Vice President, Chief Administrative Officer. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">B. The Company desires to continue to employ the Employee to perform certain services for the Company, its parent, if any, and their respective subsidiaries and affiliates (the &#8220;Company Affiliates&#8221;), as may be required or requested of the Employee in his position or positions with the Company and the Company Affiliates, and the Employee desires to continue to be so employed by the Company and to perform such services for the Company and the Company Affiliates.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In consideration of the premises above and mutual covenants and promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are mutually acknowledged, the parties agree as follows: </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">TERMS</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Employment</font><font style="font-family:inherit;font-size:11pt;">. </font></div></td></tr></table><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company agrees to continue to employ the Employee and the Employee accepts such continued employment upon the terms and conditions specified herein. The Employee agrees to continue to devote substantially all of his time and effort during working hours in the performance of the duties called for herein and agrees that any other non-employment related duties (i.e., industry related groups, service on boards, etc.) will not be allowed to materially interfere with the performance of the duties called for herein. </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Term</font><font style="font-family:inherit;font-size:11pt;">. </font></div></td></tr></table><div style="line-height:120%;padding-bottom:6px;pad