Letter Agreement Amending Employment Agreement between We Sell Cellular LLC, BST Distribution, Inc., and Nikhil Raman

Contract Categories: Human Resources › Employment Agreements
Summary

This letter agreement, dated November 2017, amends the employment agreement originally signed on October 23, 2015, between Nikhil Raman, We Sell Cellular LLC, and BST Distribution, Inc. The amendment sets the executive's annual salary at $250,000, payable by either company, and updates reimbursement terms for business expenses. Certain previous compensation and expense sections are deleted or replaced. The agreement clarifies that company policies cannot override these amended terms. All parties acknowledge and agree to these changes.

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EX-10.3 4 s108263_ex10-3.htm EXHIBIT 10.3

 

Exhibit 10.3

 

November ___, 2017

 

We Sell Cellular LLC BST Distribution, Inc.
171 Madison Avenue, 17th FL 171 Madison Avenue, 17th FL
New York, NY 10016 New York, NY 10016
Attention: Nikhil Raman, Manager Attention: Nikhil Raman, Chairman

 

Re:Amendments to Employment Agreement

 

Dear Nik:

 

Reference is made in this Letter Agreement (the “Letter Agreement”) to the Employment Agreement dated October 23, 2015 (the “Employment Agreement”), which I entered into with We Sell Cellular LLC and BST Distribution, Inc. I hereby acknowledge and agree that Section 4(a) of the Employment Agreement, including the Schedules 4(a)(1)(A), 4(a)(1)(B), 4(a)(2), and 4(a)(3) referenced therein, is hereby deleted and replaced in its entirety by the following:

 

For the services of the Executive to be rendered under this Agreement, the Company shall pay the Executive an annual salary of $250,000 (the “Base Salary”) payable in accordance with the Company’s normal payroll practices. Payment of Base Salary may be made by either BST or We Sell.

 

I further acknowledge and agree that Section 4(b) of the Employment Agreement, including the Schedules 4(b)(1) and 4(b)(2) referenced therein, and Section 4(c) of the Employment Agreement are hereby deleted in their entirety, and Section 4(d) of the Employment Agreement is hereby deleted and replaced in its entirety by the following:

 

In addition to any compensation received pursuant to this Section 4, the Company will reimburse or advance funds to the Executive for all reasonable documented travel, meals, and lodging, entertainment and miscellaneous expenses incurred in connection with the performance of his duties under this Agreement, provided that the Executive properly provides a written accounting of such expenses to the Company in accordance with the Company’s practices. Such reimbursement or advances will be made in accordance with policies and procedures of the Company in effect from time to time relating to reimbursement of, or advances to, its executive officers, except that no policy shall change the terms of this Agreement.

 

[Signatures to follow]

 

 

 

 

BST Distribution, Inc.

We Sell Cellular LLC

November ___, 2017

Page 2

 

Very truly yours,

 

Acknowledged and agreed:

 

BST Distribution, Inc.

 

By:  

 

We Sell Cellular LLC

 

By: Nikhil Raman, Manager  

 

cc: Michael D. Harris, Esq.

 

[Signature page to Letter Agreement re: Amendments to Employment Agreement]