One Year Employment Agreement Addendum
Exhibit 10.2
One Year Employment Agreement Addendum
ScanSource, Inc. (the Company) entered into an Employment Agreement (the Agreement) effective January 1, 2004, with Robert McLain (the Employee). The Company and the Employee seek to amend the Agreement through this Employment Agreement Addendum (the Addendum) as permitted under paragraph 13 subsection (g) of the Agreement.
Specifically, the parties seek to amend the Agreement with respect to the term of the Agreement contained in paragraph 2 entitled Employment Period. The Company and the Employee agree to extend the Agreement term for a twelve-month period, expiring on December 31, 2006 , unless otherwise terminated pursuant to Section 5 of the Agreement. Additionally, the parties agree to replace Exhibit A as attached to the original Agreement and referenced in paragraph 4 in its entirety and substitute the new Exhibit A attached hereto.
The extension of the Employment Period and the new Exhibit A acknowledged and agreed to in this Addendum are the only modifications to the Agreement. This Addendum shall not otherwise effect any rights or obligations of the parties. Except as provided herein the Agreement shall remain in full force and effect.
Acknowledged and Agreed
Effective January 1, 2006
On Behalf Of
ScanSource, Inc. | On Behalf Of
Employee | |||||||
By: | Jeffery A. Bryson | By: | Robert McLain | |||||
Its: | Executive VP of Admin. | Title: | Vice-President Marketing |
Exhibit 10.2
EXHIBIT A to EMPLOYMENT AGREEMENT
Executive: | Robert S McLain Jr |
Title: | Vice President of Marketing |
Employment period date: | to December 31, 2006 |
Base Salary: | $170,000 annually |
Variable Compensation earned in 2006 shall be based on the following:
The amount of variable pay is determined based on ScanSource, Inc. consolidated operating income and return on invested capital (ROIC). The 2006 target amount under this program is $75,000. The actual amount may be more or less depending on actual operating income and ROIC achieved. Amounts earned will be paid quarterly after the Companys earnings release.
Days of Paid Vacation per Fiscal Year: | Approving Person: | |
20 | CEO |
Executive Notice Address:
2 Riva Ridge Way
Greenville, SC 29615