Amendment No. 4 to Employment Agreement between ePlus inc. and Phillip G. Norton
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Summary
This amendment updates the employment agreement between ePlus inc. and Phillip G. Norton, the company's Chief Executive Officer and President. Effective June 10, 2015, Mr. Norton's base annual salary is set at $795,000, with annual reviews by the Compensation Committee and potential for increases. All other terms of the original agreement remain unchanged.
EX-10.1 2 ex10-1.htm NORTON AMENDMENT NO. 4 TO EMPLOYMENT AGREEMENT
EXHIBIT 10.1
AMENDMENT #4 TO EMPLOYMENT AGREEMENT
ePlus inc. (the "Company"), a Delaware corporation, and Phillip G. Norton (the "Executive") (collectively, the "Parties") have previously entered into an Employment Agreement and amendments, as follows, collectively referred to as the "Agreement."
Effective Date | Document | |||
October 1, 2011 | Employment Agreement | |||
August 1, 2012 | Amendment #1 | |||
July 1, 2013 | Amendment #2 | |||
February 14, 2014 | Amendment #3 |
The Parties hereby agree to this Amendment #4 ("Amendment #4").
1. Paragraph 5(a) of the Agreement shall be replaced in its entirety with the following:
(a) | Effective June 10, 2015, Executive shall receive a base annual salary of seven hundred and ninty-five thousand ($795,000 Dollars). The salary will be reviewed by the Company's Compensation Committee on an annual basis, and may be increased from time to time. |
No other provision of the Agreement is affected by this Amendment #4.
Signed: /s/ John E. Callies | Signed: /s/ Phillip G. Norton | |
John E. Callies | Phillip G. Norton | |
Chairman, Compensation Committee | Chief Executive Officer and President | |
Date: June 11, 2015 | Date: June 15, 2015 |