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1.
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You will be employed as Isaac’s Director of Sourcing reporting to Jesse de la Rama, COO.
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2.
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Your base salary will be $110,000.00 per year. You will be paid following the normal payroll practices and procedures for all employees.
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3.
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You will be eligible for, and will be granted, all benefits to the same extent and at the same levels accorded to all other employees at Isaacs including, but not limited to, all health and retirement benefits that currently exist or may become available in the future.
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4.
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You will be entitled to receive three weeks paid vacation.
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5.
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Your employment can be terminated upon two weeks notice at any time by either party with or without cause by notifying/giving written notice of termination.
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6.
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Your employment date is to be determined.
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Monitor all time and action calendars related to manufacturing and sourcing of products. Communicate with all parties connected with the calendars and troubleshoot the consequences of time and action disruptions.
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Oversee sample production and the subsequent bulk delivery of product. Conduct a review between sample delivery and bulk order cutting for quality control issues and product improvements.
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Handle daily communications with all domestic and overseas vendors and agents on sourcing issues.
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Maintain awareness of all sourcing issues and problems. Assist in resolving issues necessary to ensure on-time production and delivery of products.
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Evaluate and report on total vendor performance seasonally.
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Interface with Design, Technical Development and Production areas to ensure final product meets all company requirements.
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Travel globally to evaluate factory capabilities, factory compliance and monitor production.
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| I accept the foregoing terms: | I.C. Isaacs & Company, Inc. | |
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By: I.C. Isaacs & Company, Inc.,
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| /s/ Liviu Goldenberg | /s/ Jesse de la Rama | |
| Liviu Goldenberg | Jesse de la Rama | |
| 6/16/06 | ||
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Date
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1.
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If you are terminated without cause, you will be entitled to a severance payment equal to one year base salary. All of such payments will be made during the one year period following the termination of your employment (the "Severance Period") in accordance with the normal payroll practices of Isaacs, then in effect. If you accept a position of employment or receive earnings from any source during the Severance Period, the severance payment to be paid by Isaacs to you shall be reduced by any compensation paid to your during the Severance Period with respect to other employment or consulting services that your perform for other persons or entities.
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If you are terminated "for cause", the Company will not pay severance, you will not be entitled to any incentive compensation payments, and any stock option granted to your under the Plan shall thereupon terminate to the extent of any portion thereof that shall remain unexercised on the date of termination of your employment. The term "for cause" will mean the occurrence or existence of any of the following: your commission of (i) a criminal offense involving moral turpitude, (ii) criminal or dishonest conduct pertaining to the business or affairs of Isaacs (including, without limitation, fraud and misappropriation), (iii) any act or omission the intended or likely consequence of which is material injury to Isaacs' business, property or reputation (iv) gross negligence or willful misconduct, the likely consequence of which is material injury to Isaacs' business.
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| By: I.C. Isaacs & Company, Inc. | ||
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It’s General Partner
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By:
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/s/ Robert Stec | |
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Robert Stec, Chief Executive Officer
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| I accept the foregoing terms: | ||
| Dated this ___ Day of June, 2008 |
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| /s/ Liviu Goldenberg | ||
| Liviu Goldenberg |