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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Alco Stores, Inc. (MM) | NASDAQ:DUCK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.08 | 0 | 01:00:00 |
Kansas
|
0-20269
|
48-0201080
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
·
|
Term
: The employment agreement is effective as of March 15, 2012 and will be “at will” with no specific term.
|
·
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Annual Bonus
: The employee is entitled to participate in any bonus plan that the Compensation Committee (the "Compensation Committee") of the Board of Directors may adopt. If the Compensation Committee adopts a bonus plan, then the bonus plan shall provide for a bonus of up to 40% of the employee's base salary if certain targets are met as set forth in such bonus plan. On the date of its execution, no bonus plan had been adopted yet for fiscal year 2013, and the Company reserves the right to pay any other bonus at its sole discretion.
|
·
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Equity
: Subject to the approval of the Compensation Committee, the employee will receive 7,500 options to purchase shares of common stock of the Company (the “Options”), granted pursuant to the provisions of the Company’s 2003 Incentive Stock Option Plan, as amended (the “ISO Plan”). The Company and the employee shall enter into a separate Stock Option Agreement, providing the vesting and manner the Options may be exercised, all pursuant the ISO Plan.
|
·
|
Severance for Termination without “Cause” or Resignation with “Good Reason”
: Upon involuntary termination or termination with Good Reason and subject to release of claims, the employee will receive (i) twelve months salary paid in accordance with the Company’s regular payroll practices, (ii) continued benefits coverage for a period of ninety (90) days, (iii) all benefits earned under qualified profit-sharing, pension, or retirement plans, and (iv) other “Earned Obligations” as defined in the employment agreement.
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·
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Benefits
: The employee is to receive benefits, including insurance, vacation time, and other benefits, normally provided to other members of the executive management of the Company.
|
·
|
Covenants
: Each employment agreement includes covenants regarding confidentiality and a twelve-month period of non-competition following termination of employment.
|
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10.1
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Wayne S. Peterson
|
|
10.2
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Ted Beaith
|
|
10.3
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Tom L. Canfield, Jr.
|
Date: March 21, 2012
|
DUCKWALL-ALCO STORES, INC.
By:
/s/ Richard E. Wilson
Richard E. Wilson
President and Chief Executive Officer
|
|
10.1
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Wayne S. Peterson
|
|
10.2
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Ted Beaith
|
|
10.3
|
Employment Agreement, dated March 15, 2012, between Duckwall-ALCO Stores, Inc. and Tom L. Canfield, Jr.
|
1 Year Duckwall Alco Chart |
1 Month Duckwall Alco Chart |
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