Operations committee agreement Lebby Vs. Leonberger
Remember that Agreements are negotiated and there are many factors that go into each from many sides.
I Just looked, Lebby’s operations committee compensation included a combination of cash and stock monthly cash retainer fee, Leonbergers compensation for the operations committee is strictly cash. (he already has rights to 575k shares
when this ends and we are bought out) Oh Interestingly enough the Lebby operations committee bonus for “deals” was 5% Leonbergers deal is 3%. No doubt due to the value that has been added. Because of the 1 year clause I’d look for them to start stacking on deals over the next 6 months followed by the 'be all, end all' buyout because it just makes financial sense for them, adding value while getting a kicker (remember that this technology has potential in Dozens of Billion Dollar Markets). Basically It adds value for the shareholders as well as providing financial limited time sensitive incentives for them.
Remember that with the VWAP average (which is what the “stock award” was based on) is now double what is was back when Lebby was in that position so Lebby was snagging more than twice as many shares as Leonberger would be awarded, (60 cents then $1.20 now, $1.80, $2.40 etc soon etc.)
This is where he/they will really make hay and that my friend is OK with me.
Lebby new Business Commission:
“A commission equal to 5% of the value of any non-security, business investment transaction that the company directly receives by a party that was introduced to the company by the committee member and whereby the committee member was instrumental in procuring the transaction. Such transactions will include payments received by the Company for Nonrecurring Engineering projects, payments received for consulting engagements, licensing revenue, service revenue or for product revenue received by the Company.
Leonberger New Business Commission:
A commission equal to 3% of the value of any non-security, business investment transaction that the company directly receives by a party that was introduced to the company by the committee member and/or whereby the committee member was instrumental in procuring the transaction. Such transactions will include payments received by the Company for Nonrecurring Engineering projects, payments received for consulting engagements, licensing revenue, service revenue or for product revenue received by the Company.
Remember that this is for “non security” deals, also remember that at the boards discretion bonuses may be awarded.
OK so Lebby resigned in April 30th and Leonberger took over, I would look for a quite a few deals between now and APRIL 30th Get it, xtra 5% for Lebby for deals that were started by him while he was on the committee and consummated prior to that 1 year after he resigned.
OK, I guess I forgot to put this part in.
“The commission will be paid within 45 days upon receipt of the revenue by the company from the customer. The commission will be payable for the duration of the committee member’s particular term on the Operations Committee AND for a period of twelve (12) months after the end of the term.” So Lebby has as 5% bonus due him on any deal that he “introduced” and happens for a full year after his tenure on that committee.
I’d have to read his CEO agreement but I’m good, Remember I’m not an attorney, I’ve got other things to do this morning.
Cool, Cool, so much incentive to have these guys push this over the finish line.
Xster Wet in Florida.
Remember that Agreements are negotiated and there are many factors that go into each from many sides.
I Just looked, Lebby’s operations committee compensation included a combination of cash and stock monthly cash retainer fee, Leonbergers compensation for the operations committee is strictly cash. (he already has rights to 575k shares
when this ends and we are bought out) Oh Interestingly enough the Lebby operations committee bonus for “deals” was 5% Leonbergers deal is 3%. No doubt due to the value that has been added. Because of the 1 year clause I’d look for them to start stacking on deals over the next 6 months followed by the 'be all, end all' buyout because it just makes financial sense for them, adding value while getting a kicker (remember that this technology has potential in Dozens of Billion Dollar Markets). Basically It adds value for the shareholders as well as providing financial limited time sensitive incentives for them.
Remember that with the VWAP average (which is what the “stock award” was based on) is now double what is was back when Lebby was in that position so Lebby was snagging more than twice as many shares as Leonberger would be awarded, (60 cents then $1.20 now, $1.80, $2.40 etc soon etc.)
This is where he/they will really make hay and that my friend is OK with me.
Lebby new Business Commission:
“A commission equal to 5% of the value of any non-security, business investment transaction that the company directly receives by a party that was introduced to the company by the committee member and whereby the committee member was instrumental in procuring the transaction. Such transactions will include payments received by the Company for Nonrecurring Engineering projects, payments received for consulting engagements, licensing revenue, service revenue or for product revenue received by the Company.
Leonberger New Business Commission:
A commission equal to 3% of the value of any non-security, business investment transaction that the company directly receives by a party that was introduced to the company by the committee member and/or whereby the committee member was instrumental in procuring the transaction. Such transactions will include payments received by the Company for Nonrecurring Engineering projects, payments received for consulting engagements, licensing revenue, service revenue or for product revenue received by the Company.
Remember that this is for “non security” deals, also remember that at the boards discretion bonuses may be awarded.
OK so Lebby resigned in April 30th and Leonberger took over, I would look for a quite a few deals between now and APRIL 30th Get it, xtra 5% for Lebby for deals that were started by him while he was on the committee and consummated prior to that 1 year after he resigned.
OK, I guess I forgot to put this part in.
“The commission will be paid within 45 days upon receipt of the revenue by the company from the customer. The commission will be payable for the duration of the committee member’s particular term on the Operations Committee AND for a period of twelve (12) months after the end of the term.” So Lebby has as 5% bonus due him on any deal that he “introduced” and happens for a full year after his tenure on that committee.
I’d have to read his CEO agreement but I’m good, Remember I’m not an attorney, I’ve got other things to do this morning.
Cool, Cool, so much incentive to have these guys push this over the finish line.
Xster Wet in Florida.
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