You are here: Agreements > Employment Agreement Amendment > AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

SITE SEARCH
AGREEMENTS / CONTRACTS
(optional)
(optional)
Try our advanced search >>
CLAUSES Search Contract Clauses >>
Browse Contract Clause Library>>

Amendment To Executive Employment Agreement

Employment Agreement Amendment

Legal Documents
You are currently viewing:

 This Employment Agreement Amendment involves

EPIQ SYSTEMS INC | Document Technologies, LLC | DTI Merger Sub, Inc | Epiq Systems, Inc

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
 

Title: AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
Governing Law: Missouri     Date: 7/27/2016
Industry: Software and Programming     Sector: Technology

join now
50 of the Top 250 law firms use our Products every day

Exhibit 10.5

AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

This Amendment to the Executive Employment Agreement (“ Amendment ”) is entered into as of July 26, 2016, by and between Brad D. Scott, an individual (“ Executive ”), and Epiq Systems, Inc. (the “ Company ”).

WHEREAS, Executive and the Company are party to that certain Executive Employment Agreement, dated as of December 15, 2014 (the “ Employment Agreement ”);

WHEREAS, it is expected that the Company shall enter into an Agreement and Plan of Merger as of the date hereof (as the same may be amended, updated or supplemented from time to time, the “ Merger Agreement ”), by and among Document Technologies, LLC, a Georgia limited liability company (“ Parent ”) and DTI Merger Sub, Inc., a Missouri corporation and a wholly owned subsidiary of Parent;

WHEREAS, the Company and the Executive desire to enter into this Amendment to clarify certain terms of Executive’s employment with the Company effective following the consummation of the transactions contemplated by the Merger Agreement; and

WHEREAS, capitalized terms that are not defined herein shall have the same meaning as set forth in the Employment Agreement unless specified to the contrary.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties agree as follows:

 

 

1.

Section 1(z) shall be deleted in its entirety and replaced with the following:

Separation Consideration ” shall mean:

(i) a cash amount equal to the sum of the Bonus and eighteen (18) months of Base Salary; and

(ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive’s monthly premium rate for health insurance for Executive and Executive’s dependents under the Company’s relevant health insurance plans (e.g. medical, dental and vision) in effect on the End Date, and (B) the monthly premium paid by Executive for substantially similar health insurance coverage for Executive and Executive’s dependents (whether through the Consolidated Omnibus Budget Reconciliation Act (“ COBRA ”) or otherwise), after the End Date, until the earlier of (Y) eighteen (18) months from the End Date, or (Z) Executive’s employment by a person, company, or other entity that offers health insurance;

provided that , following a Change in Control, the “ Separation Consideration ” shall mean:

(i) a cash amount equal to $4,570,928; and


(ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive’s monthly premium rate for


continue to document