{"id":38486,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/agreement-waverly-inc-and-david-j-callard2.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"agreement-waverly-inc-and-david-j-callard2","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/agreement-waverly-inc-and-david-j-callard2.html","title":{"rendered":"Agreement &#8211; Waverly Inc. and David J. Callard"},"content":{"rendered":"<pre>\n           Agreement Between Waverly, Inc. and David J. Callard\n           ----------------------------------------------------\nWaverly, Inc. ('Waverly') and David J. Callard (DJC') have\ndiscussed ways in which DJC will assist Waverly in 1996.  Such\nassistance shall include working with senior management in the\nfollowing areas:  monthly review of 1996 results and plans as\nwell as longer range strategic plan for 1996-1998;  merger,\nacquisition, joint venture, financing, recapitalization and\ninvestment opportunities involving Waverly ('Waverly acquisition\nand development opportunities' or 'Waverly A&amp;D');  and active\ninvolvement in oversight of the Waverly business through\ncontinued service as Chairman of the Executive Committee. \nWaverly and DJC wish to continue the retainer relationship which\nhas been renewed annually since 1990.\n\nWaverly shall retain DJC as a financial and business advisor at\nan annual compensation rate of $90,000 through March 31, 1996\nand at an annual compensation rate of $50,000 thereafter; \nretainer payment shall be made quarterly in advance.  Waverly\nand DJC will review quarterly the amount of time spent by DJC on\nWaverly projects and mutually agree whether adjustment of the\nretainer amount is appropriate for that quarter.  Waverly shall\nreimburse all reasonable expenses incurred by DJC in carrying\nout his duties under the retainer agreement.\n\nWaverly shall, also, pay DJC for assistance with specific\nWaverly A&amp;D projects.  Such additional payments (contingent or\notherwise) will be determined by mutual at the outset of each\nproject and shall reflect the complexity and size of each\nproject and DJC's role.\n\nWaverly shall have the right to determine whether it wants DJC\nto have an active role in any Waverly A&amp;D project.  DJC and\nWaverly wish to ensure that Waverly does not become obligated to\npay double fees in any A&amp;D transaction.  The parties shall\ndesignate Waverly A&amp;D projects in which DJC shall participate by\nmemorandum agreement which shall, also, describe such additional\ncompensation arrangements as are mutually acceptable.\n\nThe retainer arrangement set forth herein shall have a term of\none year from January 1, 1996.  Should DJC's future employment\nresult in his not being available to carry out his duties\nhereunder, either party may terminate the retainer arrangement\nwith retainer compensation prorated to date of termination and\nwith additional compensation paid where DJC has substantially\ncompleted work on a Waverly A&amp;D opportunity which is closed\nsubsequent to termination.\n\nThis amended agreement represents the renewal provided for in\nthe November 1990 agreement with certain modifications which are\nacceptable to both parties.\n\n\/s\/ David J. Callard                                            \n- --------------------\nDavid J. Callard\n\nDated: December 18, 1995\n\n                 \n\n\/s\/ William M. Passano, Jr.                                     \n- ---------------------------\nWilliam M. Passano Jr.\n\nDated:  December 19, 1995\n                           \n                                \n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9299],"corporate_contracts_industries":[9464],"corporate_contracts_types":[9539,9541],"class_list":["post-38486","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-waverly-inc","corporate_contracts_industries-media__books","corporate_contracts_types-compensation","corporate_contracts_types-compensation__consulting"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38486"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38486"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38486"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}