Employment Agreement (2018)Full Document 

Start of Preview




This Amendment (“Amendment”) to the Employment Agreement (as defined below) is made and entered into as of September 7, 2018 by Digital Turbine, Inc., a Delaware corporation (the “Company”), and Barrett Garrison (the “Executive”). Capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Employment Agreement.

WHEREAS, the Company and the Executive entered into that certain Employment Agreement, dated as of August 31, 2016 (the “Employment Agreement”), pursuant to which the Executive currently is serving as Chief Financial Officer of the Company;

WHEREAS, the Board of Directors has determined that the Company should make certain amendments to the Employment Agreement as further described herein; and

WHEREAS, the Company and the Executive desire to enter into this Amendment to effectuate such amendments to the Employment Agreement;

NOW, THEREFORE, in consideration of the foregoing, the mutual promises of the parties hereto and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree to amend the Employment Agreement, as follows:

1. Amendment to Section 3 of the Employment Agreement. Section 3 of the Employment Agreement is amended and restated to read as follows:

Term. Subject to the provisions of Section 6, the term of employment pursuant to this Agreement commenced on the Start Date and shall continue on an at-will basis, subject to termination by the Company or Executive at any time (the period of time commencing on the Start Date through the termination of this Agreement being the “Term”)”

2.; Amendment to Section 4(a) of the Employment Agreement. Section 4(a) of the Employment Agreement is amended and restated to read as follows:

Salary. For all services rendered by the Executive under this Agreement, the Company shall pay the Executive an annual salary (the “Salary”) at the annual rate of Three Hundred Twenty Five Thousand Dollars ($325,000). The Executive’s Salary shall be payable in periodic installments in accordance with the Company’s usual practice for its employees, but in no event less than monthly over the year in which the Salary is earned.”

3. Amendment to Section 6(d) of the Employment Agreement. Section 6(d) of the Employment Agreement is amended and restated to read as follows:

Disability. If the Executive shall become Disabled so as to be unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation, the Board of Directors may remove the Executive from any responsibilities and/or reassign the Executive to another position with the Employer during the period of such Disability. Notwithstanding any such removal or reassignment, the Executive shall continue to receive the Executive’s full Salary (less any disability pay or sick pay benefits to which the Executive may be entitled under the Employer’s policies) and benefits under Section 4 of this Agreement (except to the extent that the Executive may be ineligible for one or more such benefits under applicable plan terms) for a period of time equal to twelve (12) months payable at the same time as such amounts would otherwise have been paid to the Executive had he continued in his current capacity. If the Executive is unable to perform substantial services of any kind for the Employer during this period, such period shall be considered a paid leave of absence and the Executive shall have the contractual right to return to employment at any time during such period. If the Executive’s Disability continues beyond such twelve (12) month period, the Executive’s employment may be terminated by the Employer by reason of Disability at any time thereafter. For purposes hereof, the term “Disabled” or “Disability

End of Preview