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Emerson Radio Corp – ‘10-Q’ for 9/30/19 – ‘EX-10.35.1’

On:  Thursday, 11/14/19, at 4:01pm ET   ·   For:  9/30/19   ·   Accession #:  1564590-19-43507   ·   File #:  1-07731

Previous ‘10-Q’:  ‘10-Q’ on 8/14/19 for 6/30/19   ·   Next:  ‘10-Q’ on 2/14/20 for 12/31/19   ·   Latest:  ‘10-Q’ on 2/20/24 for 12/31/23   ·   2 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/14/19  Emerson Radio Corp                10-Q        9/30/19   45:3.6M                                   ActiveDisclosure/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    343K 
 2: EX-10.35.1  Material Contract                                   HTML     18K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     22K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     22K 
 5: EX-32       Certification -- §906 - SOA'02                      HTML     19K 
20: R1          Document and Entity Information                     HTML     70K 
41: R2          Consolidated Statements of Operations (Unaudited)   HTML     69K 
28: R3          Consolidated Balance Sheets (Unaudited)             HTML    119K 
15: R4          Consolidated Balance Sheets (Unaudited)             HTML     37K 
                (Parenthetical)                                                  
19: R5          Consolidated Statements of Cash Flows (Unaudited)   HTML     86K 
40: R6          Consolidated Statements of Changes in               HTML     31K 
                Shareholders' Equity (Unaudited)                                 
27: R7          Background and Basis of Presentation                HTML     31K 
14: R8          Earnings Per Share                                  HTML     67K 
21: R9          Shareholders' Equity                                HTML     18K 
23: R10         Inventory                                           HTML     24K 
18: R11         Income Taxes                                        HTML     22K 
31: R12         Related Party Transactions                          HTML     21K 
45: R13         Short Term Investments                              HTML     17K 
22: R14         Concentration Risk                                  HTML     26K 
17: R15         Leases                                              HTML    211K 
30: R16         Background and Basis of Presentation (Policies)     HTML     32K 
44: R17         Earnings Per Share (Tables)                         HTML     67K 
24: R18         Inventory (Tables)                                  HTML     25K 
16: R19         Leases (Tables)                                     HTML    213K 
35: R20         Background and Basis of Presentation - Additional   HTML     21K 
                Information (Detail)                                             
37: R21         Computation of Basic and Diluted Earnings Per       HTML     28K 
                Share (Detail)                                                   
26: R22         Shareholders' Equity - Additional Information       HTML     21K 
                (Detail)                                                         
13: R23         Inventory (Detail)                                  HTML     18K 
34: R24         Income Taxes - Additional Information (Detail)      HTML     43K 
36: R25         Related Party Transactions - Additional             HTML     28K 
                Information (Detail)                                             
25: R26         Short Term Investments - Additional Information     HTML     23K 
                (Detail)                                                         
12: R27         Concentration Risk - Additional Information         HTML     51K 
                (Detail)                                                         
32: R28         Leases - Additional Information (Detail)            HTML     33K 
38: R29         Leases - Summary of Components of Lease Costs       HTML     48K 
                (Detail)                                                         
43: R30         Leases - Summary of Information Relating to Lease   HTML     27K 
                Term and Discount Rate (Detail)                                  
29: R31         Leases - Summary of Maturities of Lease             HTML     45K 
                Liabilities (Detail)                                             
39: XML         IDEA XML File -- Filing Summary                      XML     72K 
33: EXCEL       IDEA Workbook of Financial Reports                  XLSX     36K 
 6: EX-101.INS  XBRL Instance -- msn-20190930                        XML    957K 
 8: EX-101.CAL  XBRL Calculations -- msn-20190930_cal                XML    122K 
 9: EX-101.DEF  XBRL Definitions -- msn-20190930_def                 XML    158K 
10: EX-101.LAB  XBRL Labels -- msn-20190930_lab                      XML    653K 
11: EX-101.PRE  XBRL Presentations -- msn-20190930_pre               XML    423K 
 7: EX-101.SCH  XBRL Schema -- msn-20190930                          XSD     90K 
42: ZIP         XBRL Zipped Folder -- 0001564590-19-043507-xbrl      Zip     67K 


‘EX-10.35.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.35.1

 

EMERSON RADIO CORP.

35 Waterview Blvd., Suite 140

Parsippany, NJ 07054

 

October 7th, 2019

RE:Retention Bonus

 

Dear Mr. Binney:

 

On behalf of Emerson Radio Corp. (the “Company”), I am pleased to inform you that as an incentive for your continued service to the Company, you are eligible to receive and earn a retention bonus in the aggregate amount of US$60,000 (the “Retention Bonus”), which amount shall be paid to you in the form of a lump sum cash payment, less all applicable tax withholdings and required deductions, as soon as practicable following the date that you execute this letter (the “Effective Date”).

 

The Retention Bonus will be earned in three equal installments of US$20,000 on each of the first, second and third anniversaries of the Effective Date (each, an “Annual Installment”). If your employment with the Company terminates prior to the third anniversary of the Effective Date for any reason other than due to your death, a serious decline in your physical health or in connection with a Change in Control (as defined in the Indemnification Agreement by and between you and the Company), you will be required to repay the Company, in immediately available funds, an amount equal to any Annual Installment, less any amounts withheld by the Company for income and employment taxes, that has not been earned within thirty (30) days of your termination date. This letter is not a contract of employment and does not guarantee you employment for any specified period of time.

 

Please indicate your understanding and agreement with the above by signing this letter and returning it to the Company. Thank you for your contributions thus far and the contributions we know that you will make to the Company in the time ahead.

 

Very truly yours,

 

EMERSON RADIO CORP.

 

/s/ Duncan Hon

Duncan Hon, Chief Executive Officer

 

ACCEPTED AND AGREED:

 

/s/ Michael Binney
Michael Binney

Date: 7/Oct/2019


2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/29/21  Emerson Radio Corp.               10-K/A      3/31/21    3:120K                                   Donnelley … Solutions/FA
 6/25/21  Emerson Radio Corp.               10-K        3/31/21   70:5.6M                                   ActiveDisclosure/FA
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Filing Submission 0001564590-19-043507   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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