Jared Stofflet, Sean Sutton
Little Tykes Bikes Contract for CEO Sean Sutton
This agreement is complete and becomes effective on 4/13/2017 between Little Tykes Bikes., a Wisconsin corporation, hereafter called "LTB" and Sean Sutton.
In consideration of the promises and other good and valuable consideration the parties agree as follows:
I. LTB hereby employs Sean Sutton as CEO of Little Tykes Bikes for a term beginning on the date of April 13th, 2017 and Sean Sutton hereby accepts such employment.
II. During Sean Sutton’s employment he will:
A) Devote his presence inside the office for two-hundred days per year and appear at twenty company events per year.
B) Not be involved with any other employment or business activity without the written
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III. For services rendered by Sean Sutton, Little Tykes Bikes shall compensate his as follows:
A) The annual sum of $250,000 for the first three contractual years. Following the first three years, annual salaries will be negotiated and may be tied to company performance.
B) A bonus of $15,000 payable annually based upon an 8% growth rate at the end of each fiscal year.
C) Benefits are to include: health insurance, travel expenditures, business costs, entertainment expenses, and a scholarship of $10,000 per college semester for each of his biological children. Children must obtain a cumulative GPA of 2.8 or higher in order to keep scholarship.
D) A position as Chairperson on the Board and control over the R&D program.
E) Ability to pick his personalized list of potential CFO candidates.
IV. Sean Sutton agrees that during his time of employment by Little Tykes Bikes. and for a period of six months after termination of such employment, he will not act as an employee, agent, broker, shareholder, or otherwise engage in any business selling products similar to those typically sold by LTB within the States of California, Wisconsin, Illinois, Michigan, Minnesota, and
Defining Issue: In order to make an agreement binding one element that must be used is consideration. Without consideration an agreement may not be enforceable, even if there has been an offer and acceptance. What a promiser demands and receives is the price for the promise, which is consideration. A person who makes the promise is called the promisor, while the person to whom the promise is made to is called the promisee. However, the promisor is not entitled to consideration.
$15000/4=$3750 for each period. --- $3750 is compensation cost of OMS recognize in 2012 and in 2013.
Tomco is a manufacturer of automotive parts, doing different sensor components. It is located in the East Industrial Park of Kendallville, Indiana, about half an hour northeast of Fort Wayne. A multinational company, Illinois Tool Works, bought out Tomco a few years back and thus it became to be known as ITW Tomco. ITW, or Illinois Tool Works, has 49,000 employees worldwide with reported revenues of $14.5 billion in 2014. When I quitted in 2011, there were about 60 employees working for the Kendallville plant. (About ITW, 2015)
order to fund his college O & A level studies. He only did this long
The stipend is $5,000 for each participant each year, so the stipend increases by the County’s standard escalation rate of 3.5%, then it is prorated by 50% to $ 2,500 for the first year (Transition Year) when the benefits are paid only for the first six months. The cost of the first year is $ 12,500 and the on-going costs for the Operational Years will increase by the value of 3.5%. The stipend as a recurring cost will yield a benefit return for the department. Another significant aspect is the one-time payments of $10,000 for each of the 5 participants for retirement. Then the actual cost will be $50,000, which is a cost-benefit. The cost- benefit indicates that the department will be able to cover all its expenses and it will begin to make a profit
William Harley and Arthur Davidson wanted to take the work out of riding bicycles in 1901. After being joined by the Arthur brothers, Walter and William, they came up with the idea of putting a motor and a bicycle together. Many engine changes were made before the builders were satisfied. In 1903, they created the first Harley-Davidson motorcycle and produced three that year. Harley built its first building in 1907 on Juneau Avenue in Milwaukee. That same year, 150 motorcycles were produced. As they were used for recreational purposes, they were also used in military situations. They proved useful in border skirmishes and the government called for 20,000 bikes to be shipped overseas. Following the war, other companies tried to enter the market, but Harley remained the largest. The depression had an unfavorable effect on Harley as it did with most corporations, but it outlasted the crisis and celebrated its fiftieth year in 1953 as the sole survivor in the motorcycle industry. Harley did turn public in 1965, but was bought by thirteen senior Harley-Davidson executives in 1981. It was returned to public ownership in 1986 by offering two million shares of common stock. It was approved by the New York Stock exchange in 1987 and has been there ever since.
Fourth, they will endeavor, with due respect for their existing obligations, to further the enjoyment by all States, great or small, victor or vanquished, of access, on equal terms, to the trade and to the raw materials of the world which are needed for their economic prosperity;
4. Under this scenario, Project L should be chosen because its NPV is higher than Project L. The $105,000 is included in the year 2 cash flow.
TOMS is facing a direct copycat in BOBS by Skechers and as a result potentially are losing sales and market share to the company. While TOMS has been around longer, BOBS was created and backed by a notorious brand that was already well established in the shoe market (Kuchle, 2012). TOMS also is lacking in advertisements and endorsements. Opponent brands advertise regularly and have celebrity pairings or endorsements but TOMS chooses to focus on word of mouth, social media, and sparingly use traditional media marketing.
However, in the original position, two conditions would eliminate unnecessary influence by mandating that parties representing citizens be 1) Rational and mutually disinterested (meaning that parties favor more benefits of social cooperation than less) and 2) maintain equal bargaining power. These conditions in the original position hypothetically allow a fair bargaining situation and Rawls argues that the ‘right’ principles to govern the basic structure of society would be chosen under these conditions. The guiding idea of the original position is that all citizens are fundamentally equal; therefore justice should begin from the presumption that all benefits of social cooperation should be equally
Ben Bacchus, owner of the store he wants to open by 1st of the May 2016 called Ben’s Bikes. Is a shop that specializes in BMX, children’s and recreational bicycles in port credit, in Mississauga, Ontario. He wants his store to the first choice of recreational bike riders of all ages and capabilities in Mississauga.
Introduction to Bicycle Industry: Bicycle industry was started in 19th century. Currently the industry has a sales turnover of more than 12 million cycles. The industry is firmly established in India wherein it sports kids’ cycles to sports cycles to adventure cycles. In volume terms, Indian bicycle industry is second highest producer of bicycle in world. China is number one in bicycle manufacturing.
50-75% of the average of your final three years base salary. In some cases, you can receive more
ABC Tyres has recently developed a new tyre, The Supertread. Managers and Financial Directors (Mr George Lee) must determine whether it is beneficial for the company to make the investment necessary to produce and market it. A report has been prepared analysing the concerns Mr Lee has with the company’s proposed new project.
"Arbitration is a creature of contract,1 and Consent is the cornerstone upon which the temple of privat...