NovaStar Financial, Inc. At-Will Employment Agreement with Rodney E. Schwatken

Contract Categories: Human Resources › Employment Agreements
Summary

NovaStar Financial, Inc. has an oral at-will employment agreement with Rodney E. Schwatken, who serves as Vice President and Controller. Under this agreement, Mr. Schwatken will receive a salary (reviewed annually), be eligible for bonuses and stock incentives, and participate in the company's deferred compensation plan. He will also receive standard employee benefits, including insurance, vacation, and sick leave. The agreement is at-will, meaning either party can end the employment at any time.

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EX-10.33 4 dex1033.htm ORAL EMPLOYMENT AT-WILL AGREEMENT Oral Employment At-Will Agreement

Exhibit 10.33

 

NOVASTAR FINANCIAL, INC.

 

EMPLOYMENT AGREEMENT

 

FOR

 

RODNEY E. SCHWATKEN

 

Rodney E. Schwatken is Vice President and Controller (Principal Accounting Officer) of the Company. Mr. Schwatken has an oral agreement with the Company for “at will” employment which includes the following:

 

Mr. Schwatken:

 

  1. will be entitled to a salary, adjusted annually by the Compensation Committee;

 

  2. will participate in the Company’s annual incentive bonus program, as determined by the Compensation Committee;

 

  3. will be eligible for incentive awards under the Company’s Incentive Stock Plan, as determined by the Compensation Committee;

 

  4. will be eligible to participate in the Company’s Deferred Compensation Plan;

 

  5. will be covered by medical and disability insurance and other forms of health, life and other insurance and/or benefits provided by the Company to its employees; and

 

  6. will be entitled to vacation, paid sick leave and all other employee benefits provided by the Company to its employees.