Annual Report — [x] Reg. S-K Item 405 — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K405 Annual Report -- [x] Reg. S-K Item 405 63 266K
5: EX-10.11 Key Severance Agreement 15 43K
2: EX-10.2 Panther Security Agreement 19 68K
6: EX-10.28 Bulrad Illinois Security Agreement 19 68K
7: EX-10.29 Omega Kitchen Craft Holdings Pledge Agreement 15 56K
3: EX-10.3 Omega Security Agreement 19 68K
8: EX-10.30 Omega Kitchen Craft U.S. Corp Pledge Agreement 15 56K
9: EX-10.31 Bulrad Illinois Guaranty 11 42K
10: EX-10.33 3578275 Canada General Security Agreement 10 33K
11: EX-10.34 Omega Guarantee 11 47K
12: EX-10.35 Kitchen Craft Guarantee 7 27K
13: EX-10.36 Kitchen Craft Security Agreement 11 33K
14: EX-10.37 Supplement No. 1 to the Management Agreement 1 11K
15: EX-10.38 H. Buller Employment Agreement 15 71K
16: EX-10.39 M. Buller Employment Agreement 15 69K
4: EX-10.4 Omega Pledge Agreement 15 56K
17: EX-10.40 J. Horton Employment Agreement 4 15K
18: EX-10.41 C. Rae Employment Agreement 3 14K
19: EX-10.42 Offer & Acceptance Contract, for Sale of Land 7 31K
20: EX-12.1 Computation of Ratio of Earnings to Fixed Charges 1 11K
21: EX-21.1 Subsidiaries of the Registrant 1 8K
22: EX-27 Financial Data Schedule 2 10K
EX-10.41 — C. Rae Employment Agreement
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EXHIBIT 10.41
October 22, 1997
Mr. Craig S. Rae
9905 Duane Court
Huntersville, NC 28078
Dear Craig:
On behalf of Omega Cabinets, Ltd., it is my pleasure to confirm our offer
of employment as Vice President, Sales & Marketing. In this position you will
report to the President of Omega Cabinets, Ltd. and participate with the other
officers in establishing corporate policy, procedure and direction. You will
have responsibility for all aspects of sales and marketing including the
management of independent sales representatives, customer service and related
functions, sales administration, marketing and merchandising. Additionally, you
will have significant input in our product design and development process.
. BASE SALARY
You will be paid $4,615.38 bi-weekly (an amount equal to $120,000
annually).
. BONUS
Your annual bonus potential at 100% of plan will be equal to 30% of
base salary. You may earn up to an additional 25% of your bonus amount
should we attain 105% of plan (maximum 37.5% of base salary). The
actual amount of bonus paid will be based upon the company achieving
certain earnings goals and your personal performance as measured
against agreed-upon objectives.
. EQUITY
You will be offered the opportunity to join our equity ownership group
by investing in Omega Holdings, Inc. an amount up to $100,000. You
will have ample opportunity to discuss the investment details with
Lance Erlick, CFO.
You will also participate in Omega's management stock option program.
Based upon individual and company performance, the company would
intend to issue to you additional fully-diluted option shares. All
awards will be made at the discretion of the Board of Directors of
Omega Holdings, Inc.
. RELOCATION EXPENSES
Omega will reimburse you for commission expenses that you incur
related to the sale of your principle residence in Huntersville, North
Carolina, not to exceed 6% of the sale price. In addition, Omega will
reimburse you for all reasonable costs associated with the physical
move of your household belongings and family. These costs are to
include the expenses incurred while transporting your family to your
new residence.
Omega will also reimburse you for temporary living expenses in the
Waterloo/Cedar Falls area for up to 90 days while you are searching
for a permanent residence. Temporary living expenses to include:
hotel/motel expenses, dining expenses for morning and evening meals,
and travel for return trips to the Huntersville area every two weeks
until you are relocated.
Please note that certain reimbursements may be taxed as ordinary
income in accordance with IRS regulations. Tim Carlson, Director of
Human Resources, will review this with you in detail.
. SIGNING BONUS
You will be paid a lump sum amount of $10,000 as reimbursement for
incidental expenses not covered in the relocation allowances.
. SEPARATIONS
If you are separated from the company for reasons other than causes
(i.e., malfeasance, gross neglect, illegal activities, etc.), you will
receive salary continuation for a maximum of six months.
. BENEFITS
You will be eligible to participate in health, life, dental, vision,
401(k), and short and long-term disability plans as provided to all
employees. For all plans the coverage is not immediate and will
require your personal enrollment. With exception of the 401(k) plan,
for which you will become eligible 1/1/99, eligibility to participate
commences sixty (60) days following your date of hire. Should you
elect to continue your present medical insurance coverage through the
COBRA provisions offered by your current employer, Omega will
reimburse you for the premium cost for a period not to exceed sixty
(60) days beyond your employment date.
. VACATION
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You will be entitled to two weeks of paid vacation. Our executive
staff members have additional days available on a discretionary, as-
needed basis.
Craig, we believe that you have the background and experience for this
responsibility and that you shall enjoy great personal success while helping
Omega achieve its objectives. We are excited about your joining the Omega team
. . . and getting at the many challenges and opportunities before us!!
If this opportunity meets with your expectations, please acknowledge your
acceptance by signing in the space provided and return a copy to me at your
earliest convenience.
Sincerely,
Dated this ______ day of _______, 1997 /s/ Henry P. Key
Dated this ______ day of _______, 1997 /s/ Craig S. Rae
cc: Lance Erlick
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Dates Referenced Herein
| Referenced-On Page |
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| This ‘10-K405’ Filing | | Date | | First | | Last | | | Other Filings |
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| |  |
| Filed on: | | 4/1/99 | | | | | | | None on these Dates |
| For Period End: | | 1/2/99 |
| | 10/22/97 | | 1 |
| List all Filings |
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