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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/18/24 Tile Shop Holdings, Inc. 8-K:5,9 3/18/24 11:200K Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 27K 2: EX-10.1 Material Contract HTML 13K 6: R1 Cover HTML 45K 8: XML IDEA XML File -- Filing Summary XML 11K 11: XML XBRL Instance -- tm248262d1_8k_htm XML 16K 7: EXCEL IDEA Workbook of Financial Report Info XLSX 8K 4: EX-101.LAB XBRL Labels -- tts-20240318_lab XML 96K 5: EX-101.PRE XBRL Presentations -- tts-20240318_pre XML 64K 3: EX-101.SCH XBRL Schema -- tts-20240318 XSD 12K 9: JSON XBRL Instance as JSON Data -- MetaLinks 25± 34K 10: ZIP XBRL Zipped Folder -- 0001104659-24-035170-xbrl Zip 18K
Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (“Amendment”), dated as of March 18, 2024, is entered into by and among Tile Shop Holdings, Inc. (the “Company”) and Mark Davis (“Executive”) (collectively, the “Parties”).
WHEREAS, the Parties entered into an Employment Agreement on or about September 6, 2019 (“Employment Agreement”);
WHEREAS Executive has assumed the role of the Company’s Chief Financial Officer;
WHEREAS, the Parties have decided to amend the Employment Agreement pursuant to this Amendment; and
WHEREAS, Paragraph 9.4 of the Employment Agreement permits it to be amended by a writing signed by all Parties.
NOW THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree to amend the Employment Agreement as follows:
1. The Employment Agreement shall be amended such that Executive’s Position shall now be Senior Vice President, Chief Financial Officer and Secretary effective as April 1, 2024.
2. The Employment Agreement shall be amended such that Executive shall report to the Company’s Chief Executive Officer and will work closely with other senior officers of the Company.
3. The Employment Agreement shall be amended to reflect that Executive’s Base Salary, Cash Incentive Compensation and Equity Awards are as follows effective as of April 1, 2024:
| · | The Base salary (annualized) set forth in the Employment Agreement shall be amended to $300,000, paid in accordance with the Company’s normal payroll procedures. |
| · | Executive’s target annual cash incentive compensation opportunity shall be amended to provide a target of 50% of his base salary. |
| · | Executive’s Equity Awards shall be amended to provide a grant of equity awards with an aggregate value of $200,000 pursuant to the Company’s 2021 Omnibus Equity Compensation Plan and applicable equity award agreements for such awards. |
4. All other provisions of the Employment Agreement, which have not been explicitly amended herein, remain in full force and effect, including the other terms and conditions related to Executives Base Salary, Cash Incentive Compensation and Equity Awards, and Executive agrees to abide by the same.
IN WITNESS WHEREOF, the Parties hereto have executed this Amendment to Employment Agreement as of the dates set forth below.
| TILE SHOP HOLDINGS, INC. | ||
| By: | /s/ Cabell Lolmaugh | |
| Name: | Cabell Lolmaugh | |
| Title: | Chief Executive Officer | |
| Date: | March 18, 2024 | |
| MARK DAVIS | |
| /s/ Mark B. Davis | |
| Date: March 18, 2024 |
2
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 4/1/24 | ||||
| Filed on / For Period end: | 3/18/24 | |||
| 9/6/19 | 3, 8-K | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/09/24 Tile Shop Holdings, Inc. 10-Q 3/31/24 57:5.3M |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/07/24 Tile Shop Holdings, Inc. 8-K:5 3/01/24 10:183K Toppan Merrill/FA |