Attached files
file | filename |
---|---|
10-K - FORM 10-K - HARLAND CLARKE HOLDINGS CORP | y03063e10vk.htm |
EX-31.2 - EX-31.2 - HARLAND CLARKE HOLDINGS CORP | y03063exv31w2.htm |
EX-31.1 - EX-31.1 - HARLAND CLARKE HOLDINGS CORP | y03063exv31w1.htm |
EX-21.1 - EX-21.1 - HARLAND CLARKE HOLDINGS CORP | y03063exv21w1.htm |
EX-10.21 - EX-10.21 - HARLAND CLARKE HOLDINGS CORP | y03063exv10w21.htm |
EX-10.23 - EX-10.23 - HARLAND CLARKE HOLDINGS CORP | y03063exv10w23.htm |
EX-10.22 - EX-10.22 - HARLAND CLARKE HOLDINGS CORP | y03063exv10w22.htm |
Exhibit 10.24
AMENDMENT TO THE EMPLOYMENT AGREEMENT
AMONG HARLAND CLARKE HOLDINGS CORP.,
HARLAND FINANCIAL SOLUTIONS, INC.
AND RAJU SHIVDASANI
AMONG HARLAND CLARKE HOLDINGS CORP.,
HARLAND FINANCIAL SOLUTIONS, INC.
AND RAJU SHIVDASANI
WHEREAS, Harland Clarke Holdings Corp., a Delaware corporation (Harland Clarke Holdings) and
Harland Financial Solutions, Inc., an Oregon corporation (the Company), and Raju Shivdasani
(the Executive) entered into an employment agreement (as amended, the Employment Agreement)
dated as of May 5, 2008;
WHEREAS, Harland Clarke Holdings, the Company and the Executive wish to modify certain terms
of the Employment Agreement;
NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby
acknowledged, the Company and the Executive hereby agree to amend the Employment Agreement, as set
forth below:
1. | Section 1.1 is hereby modified, effective August 31, 2009, by deleting Enterprise Solutions Group and inserting in its place Harland Financial Solutions. | ||
2. | Section 3.1 is hereby modified, effective January 1, 2010, by deleting the annual rate of Base Salary of $375,000 and inserting in its place the annual rate of Base Salary of $425,000. | ||
3. | Section 3.2.1 is modified, effective January 1, 2010, by deleting the Percentage of Consolidated EBITDA table and inserting in its place the following table: |
Percentage of Consolidated | Percentage of Base | |
EBITDA in Business Plan | Salary | |
<89.9% |
0.00% | |
90 to 94.9% |
65.00% | |
95 to 99.9% |
69.00% | |
100 to 105% |
75.00% | |
105.1 to 110% |
79.16% | |
110.1 to 115% |
83.33% | |
115.1 to 120% |
87.50% | |
120.1 to 125% |
91.67% | |
125.1 to 130% |
95.84% | |
130.1 to 135% |
100.00% | |
135.1 to 140% |
104.17% | |
140.1 to 145% |
108.34% | |
145.1% + |
112.50% |
4. | All other terms and conditions of the Employment Agreement shall otherwise remain in place, except as expressly amended herein. |
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IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of
February 22, 2010.
HARLAND CLARKE HOLDINGS CORP. |
||||
By: | /s/ Charles Dawson | |||
Name: | Charles Dawson | |||
Title: | President & CEO | |||
HARLAND FINANCIAL SOLUTIONS, INC. |
||||
By: | /s/ Martin Wexler | |||
Name: | Martin Wexler | |||
Title: | Treasurer | |||
/s/ Raju Shivdasani | ||||
Raju Shivdasani | ||||
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