Exhibit 10.3
AGREEMENT
This Agreement (this “
Agreement ”), is entered into as of
this 27th day of July, 2009, by and between Thomas
Weisel Partners Group Inc. (“ TWP ”) and
Lionel F. Conacher (“ Conacher ”), in his
individual capacity.
WHEREAS, TWP and Conacher have previously
entered into the that certain Amended and Restated President
Employment Agreement, dated December 15, 2008, as amended by
Amendment No.1 to the Amended and Restated President Employment
Agreement, dated July 27, 2009 (together, the “
Employment Agreement ”), a copy of which is
attached hereto as Annex A;
WHEREAS, pursuant to section 2 of the Employment
Agreement, the Employment Agreement will automatically be extended
for successive two-year periods commencing on January 1,
2010;
WHEREAS, TWP and Conacher wish to replace the
Employment Agreement with a revised President Employment Agreement
(the “ New Employment Agreement ”), a
copy of which is attached hereto as Annex B, which will replace the
Employment Agreement commencing on January 1, 2010; and
WHEREAS, Conacher and TWP wish to formalize
their understanding with respect to the transition between the
Employment Agreement and the New Employment Agreement with respect
to certain key terms contained in the Employment Agreement and the
New Employment Agreement.
NOW, THEREFORE, in consideration of the
premises, the sufficiency of which is hereby acknowledged, TWP and
Conacher hereby agree as follows:
1. New Employment
Agreement . Conacher and TWP each acknowledge and agree that
the Employment Agreement will expire on December 31, 2009 and will
be replaced in its entirety by the New Employment Agreement
commencing on January 1, 201
