UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

May 27, 2015

Date of Report (Date of earliest event reported)

 

Summer Infant, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-33346

 

20-1994619

(State or other

 

(Commission File Number)

 

(IRS Employer

jurisdiction of incorporation)

 

 

 

Identification No.)

 

1275 Park East Drive

Woonsocket, Rhode Island 02895

(Address of principal executive offices)  (Zip Code)

 

(401) 671-6550

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 5.02.                                        Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Effective on May 27, 2015, Kenneth Price, President of Global Sales & Marketing of Summer Infant, Inc. (the “Company”), is no longer employed by the Company.

 

Item 8.01              Other Events.

 

On May 27, 2015, the Company filed a complaint against Carol E. Bramson, Annamaria Dooley, Kenneth N. Price, Carson J. Darling, Dulcie M. Madden, and Bruce Work in the United States District Court for the District of Rhode Island.  The complaint alleges theft and misappropriation of the Company’s confidential and proprietary trade secrets, intellectual property, and business, branding and marketing strategies.  Ms. Bramson is a current member of the Company’s Board of Directors and the Company’s former Chief Executive Officer, and Ms. Dooley is the Company’s former Senior Vice President of Product Development.  As set forth in Item 5.02 above, until May 27, 2015, Mr. Price held the position of President of Global Sales & Marketing of the Company.  Mr. Darling and Ms. Madden are employees of Rest Devices, Inc., a consultant to the Company.

 

The complaint alleges violation of trade secrets, misappropriation of confidential information, breaches of fiduciary duties by Mmes. Bramson and Dooley and Mr. Price, conversion, breaches of contract by Mmes. Bramson and Dooley and Mr. Price, tortious interference with employment agreements, consulting agreements, and prospective business relations, unjust enrichment and other related claims, and seeks injunctive relief, return of the Company’s confidential and proprietary information, as well as other relief including compensatory damages.  A copy of the redacted complaint as filed with the United States District Court for the District of Rhode Island is attached as Exhibit 99.1.

 

Item 9.01              Financial Statements and Exhibits.

 

(d)           Exhibits.

 

Exhibit

 

 

Number

 

Description

 

 

 

99.1

 

Redacted Complaint filed by Summer Infant, Inc. on May 27, 2015 against Carol E. Bramson, Annamaria Dooley, Kenneth N. Price, Carson J. Darling, Dulcie M. Madden, and Bruce Work in the United States District Court for the District of Rhode Island.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

SUMMER INFANT, INC.

 

 

 

Date: May 28, 2015

By:

/s/ Robert Stebenne

 

Name:

Robert Stebenne

 

Title:

President and Chief Executive Officer

 

3



 

EXHIBIT INDEX

 

Exhibit

 

 

Number

 

Description

 

 

 

99.1

 

Redacted Complaint filed by Summer Infant, Inc. on May 27, 2015 against Carol E. Bramson, Annamaria Dooley, Kenneth N. Price, Carson J. Darling, Dulcie M. Madden, and Bruce Work in the United States District Court for the District of Rhode Island.

 

4


 



Exhibit 99.1

 

Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 1 of 70 PageID #: 1

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 2 of 70 PageID #: 2

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 3 of 70 PageID #: 3

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 4 of 70 PageID #: 4

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 5 of 70 PageID #: 5

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 6 of 70 PageID #: 6

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 7 of 70 PageID #: 7

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 8 of 70 PageID #: 8

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 9 of 70 PageID #: 9

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 10 of 70 PageID #: 10

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 11 of 70 PageID #: 11

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 12 of 70 PageID #: 12

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 13 of 70 PageID #: 13

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 14 of 70 PageID #: 14

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 15 of 70 PageID #: 15

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 16 of 70 PageID #: 16

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 17 of 70 PageID #: 17

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 18 of 70 PageID #: 18

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 19 of 70 PageID #: 19

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 20 of 70 PageID #: 20

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 21 of 70 PageID #: 21

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 22 of 70 PageID #: 22

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 23 of 70 PageID #: 23

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 24 of 70 PageID #: 24

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 25 of 70 PageID #: 25

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 26 of 70 PageID #: 26

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 27 of 70 PageID #: 27

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 28 of 70 PageID #: 28

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 29 of 70 PageID #: 29

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 30 of 70 PageID #: 30

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 31 of 70 PageID #: 31

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 32 of 70 PageID #: 32

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 33 of 70 PageID #: 33

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 34 of 70 PageID #: 34

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 35 of 70 PageID #: 35

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 36 of 70 PageID #: 36

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 37 of 70 PageID #: 37

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 38 of 70 PageID #: 38

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 39 of 70 PageID #: 39

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 40 of 70 PageID #: 40

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 41 of 70 PageID #: 41

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 42 of 70 PageID #: 42

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 43 of 70 PageID #: 43

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 44 of 70 PageID #: 44

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 45 of 70 PageID #: 45

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 46 of 70 PageID #: 46

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 47 of 70 PageID #: 47

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 48 of 70 PageID #: 48

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 49 of 70 PageID #: 49

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 50 of 70 PageID #: 50

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 51 of 70 PageID #: 51

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 52 of 70 PageID #: 52

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 53 of 70 PageID #: 53

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 54 of 70 PageID #: 54

 

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 55 of 70 PageID #: 55

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 56 of 70 PageID #: 56

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 57 of 70 PageID #: 57

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 58 of 70 PageID #: 58

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 59 of 70 PageID #: 59

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 60 of 70 PageID #: 60

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 61 of 70 PageID #: 61

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 62 of 70 PageID #: 62

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 63 of 70 PageID #: 63

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 64 of 70 PageID #: 64

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 65 of 70 PageID #: 65

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 66 of 70 PageID #: 66

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 67 of 70 PageID #: 67

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 68 of 70 PageID #: 68

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 69 of 70 PageID #: 69

 


Case 1:15-cv-00218 Document 1 Filed 05/27/15 Page 70 of 70 PageID #: 70

 


EXHIBIT A TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-1 Filed 05/27/15 Page 1 of 1 PageID #: 71

 


EXHIBIT B TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-2 Filed 05/27/15 Page 1 of 1 PageID #: 72

 


EXHIBIT C TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-3 Filed 05/27/15 Page 1 of 1 PageID #: 73

 


EXHIBIT D TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-4 Filed 05/27/15 Page 1 of 1 PageID #: 74

 


EXHIBIT E TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-5 Filed 05/27/15 Page 1 of 1 PageID #: 75

 


EXHIBIT F TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-6 Filed 05/27/15 Page 1 of 1 PageID #: 76

 


EXHIBIT G Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 1 of 15 PageID #: 77

 


January 13, 2014 Private and Confidential Kenneth Price 2226 Noyac Road Sag Harbor, New York 11963 Dear Kenneth: Further to recent discussions in respect of your employment with Summer Infant (USA), Inc. -time position as President of Global Sales and Marketing commencing on January 13, 2014. This offer is being extended in consideration of the mutual covenants and agreements contained in this letter ("Letter"), which sets forth our mutual understanding and agreement regarding your employment with Summer pursuant to the following terms and conditions. All offers of employment are conditional, subject to satisfactory results of background investigation, reference checks, pre-employment alcohol and drug tests, and production of documents sufficient to demonstrate identity and authorization to work. Position and Responsibilities: Your employment with Summer will commence on January 13, 2014. Your responsibilities will include, but are not limited to, President of Global Sales and Marketing for Summer and in such capacity you shall generally oversee the sales and marketing of Summer's product lines, managing Summer's sales and marketing staff, assisting Summer in the preparation of sales projections and operating budgets, and such other duties and responsibilities as may from time to time be assigned to you by the President and CEO of Summer, commensurate with your title and position described in this sentence. During your employment you shall report directly to the President and CEO of Summer. The duties and services to be performed by you are collectively referred to herein as the You agree that you shall at all times conscientiously perform all of the duties and obligations assigned to you to the best of your ability and experience and in compliance with law. You shall perform your duties mainly out of an office located in your New York home, provided, that, your duties shall include reasonable periodic travel to Summer's headquarters located in Woonsocket, Rhode Island (expected to be a minimum of 5 days per month), and shall include reasonable travel in the United States and abroad, including attendance at various trade shows, as is reasonably necessary and appropriate to the performance of your duties and responsibilities. Summer will reimburse you for your train and/or air travel expenses incurred in traveling to Summer's headquarters. In addition, Summer will arrange and pay for reasonable accommodations for you in Rhode Island if required. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 2 of 15 PageID #: 78

 


You agree to use your best efforts to promote the interests of Summer and to devote your full business time and energies to the business and affairs of Summer and the performance of your Services. You represent and warrant to Summer that your execution of this Letter and the performance of your Services to Summer shall not violate any obligations you may have to any former employer, person or entity, including, without limitation, any restrictive obligations that would prevent you from the performance of your Services to Summer or any obligation with respect to proprietary or confidential information of any other person or entity. Compensation: You will receive a bi-weekly (every two weeks) base salary of $ 13,461.54 (annualized equivalent of $350,000), subject to applicable withholding and other lawful deductions. (Short Term Incentive) bonus program with a target equal to 50% of your base salary compensation. This plan provides the opportunity to earn a bonus up to 100% of your base salary (double your targeted bonus) based on Summer and personal performance. For calendar year 2014 only, provided that you are employed by Summer on the last calendar day of 2014, you will receive a minimum STI bonus for Plan Year 2014 of $50,000.00, subject to applicable withholding and other lawful deductions, payable on or before April 15, 2015. You will also be eligible to participat -term incentive plan, and, ! ! ! ! " of Directors of Summer Infant, Inc. ("Parent") will be granted 75,000 stock options, plus 25,000 shares of restricted stock in accordance with the Parent's 2012 Incentive Compensation Plan. We have agreed that this restricted stock will vest 100% on the first anniversary from date of grant (commencement date of employment) , and the stock options will vest in 3 equal annual installments over a three year period, with the first one-third vesting on the first anniversary from date of grant (commencement date of employment). # $ annual equity grant program will be determined annually in line with the 2012 Incentive ! % % " & ' ()*+ will receive a grant of no less than 37,500 stock options and no less than 12,500 shares of restricted stock if Summer attains a minimum pre-bonus EBITDA threshold of $16 million for fiscal year 2014 performance targets, subject to (i) the approval of the Compensation Committee, the availability of a sufficient number of shares under the 2012 Incentive Compensation Plan at the time of the grant, and % Board of Directors determines that the performance targets for the 2014 fiscal year have been met. Such equity awards will be granted at a time and in a manner consistent with the overall annual equity grant process for all Summer employees, and EBITDA will be calculated in the same manner as for all annual grants for the 2014 performance year. You understand that awards based on fiscal year 2014 performance will not be eligible for accelerated vesting under the CC Agreement (as hereinafter defined) until such awards have been granted in accordance with the 2012 Incentive Compensation Plan. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 3 of 15 PageID #: 79

 


Performance Review and Benefits: You will be eligible for a performance and salary review in February 2015. We have agreed that if Summer attains a minimum pre-bonus EBITDA threshold of $16 million in 2014 (determined in the same manner as the annual equity awards noted above), you will receive a 2015 merit increase to your base salary of not less than 5%. , # $ Medical benefits, Dental benefits, Vision Care, (available the first of the month following your date of hire), a 401K plan and match program (after 90 days), Long-Term Disability (after 90 days), a Flexible Spending Account, a Tuition Reimbursement Program (if eligible), generous Product Discounts and 20 days of Paid Time Off per year, accrued at a rate of 6.15 hours bi-weekly (PTO includes vacation, sick and personal time). Summer will also provide you with a monthly automobile allowance of $750.00 per month, payable via payroll on the last pay date of each month. Governing Law/AtWill Employment: Your employment with Summer shall be governed by and interpreted in accordance with the laws of the State of Rhode Island. By execution and delivery of this Letter, you irrevocably submit to and accept the exclusive jurisdiction of the courts in the State of Rhode Island and waive any objection (including any objection to venue or any objection based upon the grounds of forum non conveniens) which might be asserted against the bringing of any such action, suit or other legal proceeding in such courts. While it is Summer's desire to have a long term employment relationship with you, your employment relationship at any time, with or without cause. This status may only be altered by written agreement, which is specific as to all material terms and is signed by an authorized officer of Summer. The terms of this employment letter do not, and are not, intended to create either an express and/or implied contract of employment with Summer for a definitive term. Notwithstanding the foregoing, in the event that your employment is terminated by Summer without cause or in the event that you terminate your employment with Summer for Good Reason (as hereinafter defined), then you shall be entitled to receive your base salary, then in effect, for a period of twelve months following the termination of your employment payable in accordance with Summer's customary payroll periods and practices and shall be less applicable taxes and withholdings (the "Severance Consideration"). You shall not be entitled to receive the Severance Consideration in the event that: (i) you voluntarily leave your employment for whatever the reason other than for Good Reason, (ii) your employment is terminated for Cause (as hereinafter defined), or (iii) as the result of your death or Disability (as hereinafter defined). You acknowledge and agree that Summer's obligation to pay to you the Severance Consideration shall be conditioned upon you executing a General Release and Termination Agreement in favor of Summer. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 4 of 15 PageID #: 80

 


"Cause" means the occurrence of one or more of the following: (i) your willful and continued failure to substantially perform your Services for Summer, which failure continues for a period of at least thirty (30) days after written demand for substantial performance has been delivered by Summer to you which specifically identifies the manner in which you have failed to substantially perform your Services; (ii) your willful conduct which constitutes misconduct and is materially and demonstrably injurious to Summer, as determined in good faith by a vote of at least two-thirds of the non-Executive directors of the Board at a meeting of the Board at which you are provided an opportunity to be heard; (iii) your being convicted of, or pleading nolo contendere to a felony; or (iv) your being convicted of, or pleading nolo contendere to a misdemeanor based in dishonesty or fraud. Disability ur incapacity due to physical or mental illness, and such inability, at least four (4) weeks after its commencement, is determined to be total and permanent by a physical selected by Summer or its insurers and acceptable to you or your legal representative (such Agreement as to acceptability not to be unreasonably withheld). Termination resulting from Disability may only be affected after at least -) event that you resume the performance of substantially all of the Services hereunder before the termination of your employment becomes effective, the notice of intent to terminate shall automatically be deemed to have been revoked. Good Reason means (i) the material diminution in your authority, duties or responsibilities; (ii) if Summer requires your relocation to a location more than thirty (30) miles from your current home office location as of the commencement date of your employment with Summer; (iii) a material diminution in your annual base salary as in effect immediately prior to such diminution, other than in connection with a general diminution in Summer's compensation levels and in amounts commensurate with the percentage diminutions of other Summer employees of comparable seniority and responsibility; or (iv) if applicable, any other action or inaction which constitutes a material breach by Summer of an agreement with you pursuant to which you provide services to Summer. No violation described in clauses (i) through (iv) above shall constitute Good Reason unless you have given written notice to Summer specifying the applicable clause and related facts giving rise to such violation within ninety (90) days after the occurrence of such violation and Summer has not remedied such violation to your reasonable satisfaction within thirty (30) days of its receipt of such notice. In addition, you will be entitled to protection against a change of control of Summer pursuant to the terms of a Change of Control Agreement in the form attached hereto as Exhibit 1 !! Agreement"). The CC Agreement provides you, upon the occurrence of an event constituting a Change of Control, with certain Severance Benefits (as defined in the CC Agreement). In consideration of the Severance Benefits, you will be required to abide by the restrictive covenants contained in the CC Agreement. As a condition to your employment you will be required to execute and deliver the CC Agreement to Summer on the commencement date of your employment. Employment Documentation: Your employment with Summer is contingent upon your submission of satisfactory proof of your identity and legal authorization to work in the United States as well as completion of all Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 5 of 15 PageID #: 81

 


employment related forms required by Summer. If you fail to provide satisfactory documentation, federal law prohibits Summer from hiring you. Expense Reimbursement: Summer will pay and/or reimburse you for all expenses reasonably and necessarily incurred by you in the performance of your services while employed by Summer, including reasonable and customary travel related expenses consistent with Summer's corporate travel policy. Pursuant to Summer's corporate travel policy, you may travel business class for air travel having a duration of 5 or more hours of flight time. Such payment/reimbursement shall be made upon presentation of such receipts or other documentation, as Summer customarily requires prior to making such payment or reimbursement. Employment Manual: During your employment wit $ .# communicated to you in writing. Restrictive Covenants: Please be advised that by accepting this offer of employment and in consideration of your employment with Summer, the grant of stock options and restrictive stock in accordance with the terms hereof, and the Severance Consideration, you are agreeing to be bound by and adhere to the terms and conditions set forth in Appendix A, attached hereto and incorporated herein, which terms and conditions form a material condition to Summer in extending this Letter to you. Code Section 409A: If any provision of this Letter (or of any payment of compensation, including benefits) would cause you to incur any additional tax or interest under Internal Revenue Code of 1986, as amended ("Code"), Section 409A or any regulations or Treasury guidance promulgated thereunder, Summer shall, after consulting with you, reform such provision to comply with Code Section 409A; provided that Summer agrees to make only such changes as are necessary to bring such provisions into compliance with Code Section 409A and to maintain, to the maximum extent practicable, the original intent and economic benefit to you of the applicable provision without violating the provisions of Code Section 409A. Notwithstanding any provision to the contrary in this Letter, if you are deemed on the date of specified employee ! Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is required to be delayed in compliance with Section 409A(a)(2)(B) such payment or benefit shall not be made or provided (subject to the last sentence hereof) prior to the earlier of (i) the expiration of the six (6)- separation from service defined in Treasury Regulations issued under Code Section 409A) or (ii) the date of your death (the Deferral Period / # & % pursuant to this provision (whether they would have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to you in a lump sum, and Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 6 of 15 PageID #: 82

 


any remaining payments and benefits due under this Letter shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to you that would not be required to be delayed if the premiums therefor were paid by you, you shall pay the full cost of premiums for such welfare benefits during the Deferral Period and Summer shall pay (or cause to be paid) to you an amount equal to the amount of such premiums paid by you during the Deferral Period promptly after its conclusion. Any reimbursements by Summer to you of any eligible expenses under this Letter that are not # ' # Taxable Reimbursements shall be made by no later than the earlier of the date on which they would be paid under Summer's normal policies and the last day of your taxable year following the year in which the expense was incurred. The amount of any Taxable Reimbursements, and the value of any in-kind benefits to be provided to you, during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. The right to Taxable Reimbursements, or in-kind benefits, shall not be subject to liquidation or exchange for another benefit. Payment of any Taxable Reimbursements under this Letter must be made by no later than the end of your taxable year following the taxable year in which you remit the related taxes. Legal Expenses: Summer has agreed to make a contribution, not to exceed $5,000.00, towards your legal expenses in reviewing this Letter, Appendix A and Exhibit 1. Payment will be made to your legal counsel following completion and execution of this Letter, Appendix A and Exhibit 1, within 30 days of production to Summer of an appropriate fee breakdown and invoice. SEC Compliance: ' .# ! .! # $ 16 of the Securities Exchange Act of 1934. You understand and agree that you will keep the terms and conditions of your employment confidential until such time as your employment is publicly disclosed by Parent as required by applicable SEC rules and regulations. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 7 of 15 PageID #: 83

 


Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 8 of 15 PageID #: 84

 


APPENDIX A Non-Competition, Non-Disclosure and Developments Agreement This Non-Competition, Non-Disclosure and Developments Agreement ("Agreement") is entered in this 13th day of January, 2014 ("Effective Date") by Kenneth Price ("Executive") for the benefit of Summer (as hereinafter defined) in consideration of: (i) the Executive's employment with Summer Infant (USA), Inc. ("Summer"), (ii) the grant of the stock options and restricted stock, and (iii) the Severance Consideration all on the terms and conditions set forth in the Letter to which this Agreement is attached. The Executive covenants and agrees as follows: Whenever used herein, the word "Summer shall include the parent company, Summer Infant, Inc., and the subsidiary and affiliated companies, Summer Infant Canada, Limited, Summer Infant Europe Ltd., Summer Infant Asia Limited, Summer Infant Australia Pty Ltd and Born Free, Inc. (collectively "Summer"). 1. Consideration for Agreement. Executive acknowledges that he is being hired by Summer as President / Global Sales and Marketing and in connection with his duties and responsibilities at Summer and in consideration of Executive's promises in this Agreement, Summer will provide Executive with access to certain Confidential Information and the opportunity to develop and maintain relationships and good will with Summer's customers, vendors, consultants and contractors. Accordingly in consideration of Executive's employment with Summer, the grant of the stock options and the shares of restricted stock and the Severance Benefits, all on the terms and conditions set forth in the Letter, the Executive hereby agrees with Summer to comply with the terms of this Agreement. 2. Definitions. In addition to the capitalized terms used in the Letter and as used and defined elsewhere in this Agreement, the following capitalized terms used in this Agreement shall, for purposes of this Agreement, have the meanings set forth below. Business Partner supplier, manufacturer, vendor or licensor (person or entity) with whom Summer, Parent or any of their respective Affiliates has a business relationship and with which Executive had business-related contact or dealings, or about which Executive received Co .# .# 0 " Partner does not include a supplier, manufacturer, vendor or licensor that has fully and finally decided to terminate its business relationship with Summer, Parent or any of their respective Affiliates independent of any conduct or communications by Executive or breach of this Agreement, and which has, in fact, ceased doing any business with Summer, Parent or any of their respective Affiliates. 1 Engaging in Competition Competitor of Summer (whether as an Executive, independent contractor, consultant, principal, agent, partner, officer, director, investor, or shareholder, except as a shareholder of less than one Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 9 of 15 PageID #: 85

 


percent of a publicly traded company) that: (i) are the same or similar in function or purpose to the Services Executive provided to Summer during his employment by Summer, and/or (ii) will likely result in the disclosure of Confidential Information to a Competitor or the use of Confidential Information on behalf of a Competitor. means any person, corporation or other entity that designs, manufactures, sells or distributes in one or more product categories that are sold by the Company, Parent or any of their respective Affiliates, including, without limitation, products in the monitoring, health and safety, nursery, baby gear, feeding and furniture product categories. Confidential Information Section 3(a) of this Agreement. Consulting Services ding consulting or advisory services with respect to any relationship between the Company, Parent or any of their respective Affiliates, on the one hand, and any third party, on the other hand, and that is likely to result in the use or disclosure of Confidential Information. Person means any natural person or entity with legal status. Restrictive Area ! " and any other country where Summer sells its products. Restricted Period means the one (1) year period of time after termination of the # $ 3. Restrictive Covenants The Executive acknowledges that in order to assure Summer that it will retain the value of its business relationships, it is reasonable that the Executive be limited in utilizing trade secrets and # % ! # suppliers and others having business relationships with Summer in any manner or for any purpose other than the advancement of the interests of Summer, as hereinafter provided. The Executive acknowledges that Summer would not enter into the Letter and provide the benefits provided for therein without the covenants and agreements of the Executive set forth in this Section 3 (a) Confidentiality. & # % ! # employment with Summer, it is expected that the Executive will have extensive contact with Persons with which Summer has, had or anticipates having business relationships (including current and anticipated customers and suppliers), and to have knowledge of and access to trade secrets and other proprietary and confidential information of Summer, including, without limitation, the following nonpublic information: trade secrets, proprietary formulations generated, developed or licensed by Summer, manufacturing processes, procedures and techniques, material costing, operating margins, details of customer agreements, new product development, expansion strategies, sources of supply, Executive compensation, and confidential information of third parties which is given to Summer pursuant to an obligation or agreement to keep such information confidential or any other information Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 10 of 15 PageID #: 86

 


relating to Summer that could reasonably be regarded as confidential or proprietary or which is not in ' # his section) ' Confidential Information ($ " ! # during the time Executive is employed by Summer or thereafter, use or purport to authorize any Person to use, reveal, report, publish, transfer or otherwise disclose to any Person, any Confidential Information without the prior written consent of Summer, except for disclosures by the Executive required by applicable law (but only to the extent Summer is given a reasonable opportunity to object to such disclosure and protect the Confidential Information) to responsible officers of Summer and other responsible Persons who are in a contractual or fiduciary relationship with Summer and who have a need for such information for purposes in the best interests of Summer. Without limiting the generality of the foregoing, the Executive shall not, directly or indirectly, disclose or otherwise make known to any Person any information as to Summer's employees and others providing services to the Company, including with respect to their abilities, compensation, benefits and other terms of employment or engagement. The Executive shall keep secret all such matters entrusted to Executive, and Executive shall not use or attempt to use any Confidential Information on behalf of any person or entity other than Summer, or in any manner which may injure or cause loss or may be calculated to injure or cause loss, whether directly or indirectly, to Summer. Further, Executive agrees that, during his employment, Executive shall not make, use, or permit to be used, any notes, memoranda, reports, lists, records, specifications, software programs, data, documentation or other materials of any nature relating to any matter within the scope of the business of Summer or concerning any of its dealings or affairs other than for the benefit of Summer. Executive further agrees that he shall not, after the termination of his employment, use or permit to be used any such notes, memoranda, reports, lists, records, specifications, software programs, data, documentation or other materials. All of the foregoing shall be and remain the sole and exclusive # employment, Executive shall deliver all of the foregoing, and all copies thereof, to Summer at its main office. (b) Restriction on Competition. ) ! # and thereafter during the Restricted Period, the Executive shall not, directly or indirectly, whether alone or in association with others, engage in Competition or provide Consulting Services within the Restricted Area. (c) Non-Interference. During the # during the Restricted Period, the Executive shall not, interfere with Summer's relationship with its Business Partners by soliciting or communicating (regardless of who initiates the communication) with a Business Partner to induce or encourage the Business Partner to stop doing business or reduce its business with Summer, unless a duly authorized officer of Summer gives Executive written authorization to do so. Executive also agrees that during the Non-Interference Period, he will not work on a Summer account on behalf of a Business Partner or serve as the representative of a Business Partner for Summer. During the Restrictive Period, Executive also will not interfere with Summer's relationship with any employee of Summer by: (i) soliciting or communicating with such employee to induce or encourage him or her to leave Summer's employ (regardless of who first initiates the communication); (ii) helping another person or entity evaluate such employee as an employment candidate; or (iii) otherwise helping any person or entity hire an employee away from Summer unless a duly authorized officer of Summer gives Executive written authorization to do so. Where required by law, the foregoing restriction will only apply to employees with whom Executive Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 11 of 15 PageID #: 87

 


had material contact or about whom Executive received Confidential Information within the shorter # ! # ployment with Summer. (d) Non-disparagement. The Executive shall not at any time, either during the time Executive is employed by Summer or thereafter, directly or indirectly, engage in any conduct or make any statement, whether in commercial or noncommercial speech, disparaging or criticizing in any way Summer (including its directors and employees and others providing services to Summer), or any of its products or services, nor shall the Executive engage in any other conduct or make any other statement that could reasonably be expected to impair the goodwill of any of them, the reputation of any products or services of Summer or the marketing of such products or services, in each case except as may be required by law, and then only after consultation with Summer to the extent possible. (e) Assignment of Inventions. Executive agrees that he will promptly make full written disclosure to Summer, will hold in trust for the sole right and benefit of Summer, and hereby assigns to Summer, or its designee, all # ! inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether or not patentable or registrable under copyright or similar laws, which Executive may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, while in the course of his employment for Summer during the period of time Executive is in the employ of Summer and relating to the business of ' Inventions ($ # % ! ! works of authorship which are made by Executive (solely or jointly with others) within the scope of ! # ! % . Executive understands and agrees that the decision whether or not to commercialize or market any Invention developed by Executive solely or jointly with others is within Summer's sole discretion and for Summer's sole benefit and that no royalty will be due to Executive as a result of Summer's efforts to commercialize or market any such Invention. 4. Remedies. The Executive agrees that the restrictions set forth in Section 3, including the length of the Restricted Period, the geographic area covered and the scope of activities proscribed, are reasonable for the purposes of protecting the value of the business and goodwill of Summer and Parent. The Executive acknowledges that compliance with the restrictions set forth in Section 3 will not prevent Executive from earning a livelihood, and that in the event of a breach by the Executive of any of the provisions of Section 3, monetary damages would not provide an adequate remedy to Summer. Accordingly, the Executive agrees that, in addition to any other remedies available to Summer, Summer shall be entitled to seek injunctive and other equitable relief (without having to post bond or other security and without having to prove damages or the inadequacy of available remedies at law) to secure the enforcement of these provisions, and shall be entitled to receive reimbursement from the Executive fo ! provisions. In addition to its other rights and remedies hereunder, Summer shall have the right to require the Executive to account for and pay over to it all compensation, profits, money, accruals and other benefits derived or received, directly or indirectly, by the Executive from any breach of the covenants of Section 3, and may set off any such amounts due it from the Executive against any amounts otherwise due Executive from Summer. If the Executive breaches any covenant set forth in Section 3, the running of the Restricted Period as to such covenant only shall be tolled for so long as Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 12 of 15 PageID #: 88

 


such breach continues. It is the desire and intent of the parties that the provisions of Sections 3 and 4 be enforced in full; however, if any court of competent jurisdiction shall at any time determine that, but for the provisions of this paragraph, any part of this Agreement relating to the time period, scope of activities or geographic area of restrictions is invalid or unenforceable, the maximum time period, scope of activities or geographic area, as the case may be, shall be reduced to the maximum which such court deems enforceable with respect only to the jurisdiction in which such adjudication is made. If any other part of this Agreement is determined by such a court to be invalid or unenforceable, the invalid or unenforceable provisions shall be deemed amended (with respect only to the jurisdiction in which such adjudication is made) in such manner as to render them enforceable and to effectuate as nearly as possible the original intentions and agreement of the parties. 5. Cooperation. (a) In the event that Executive receives a subpoena, deposition notice, interview request, or other process or order to produce Confidential Information or any other property of Summer, Executive shall promptly: (a) notify Summer of the item, document, or information sought by such subpoena, deposition notice, interview request, or other process or order; (b) furnish Summer with a copy of said subpoena, deposition notice, interview request, or other process or order; and (c) provide reasonable cooperation with respect to any procedure that Summer may initiate to protect Confidential Information or other interests. If Summer objects to the subpoena, deposition notice, interview request, process, or order, Executive shall cooperate to ensure that there shall be no disclosure until the court or other applicable entity has ruled upon the objection, and then only in accordance with the ruling so made. If no such objection is made despite a reasonable opportunity to do so, Executive shall be entitled to comply with the subpoena, deposition, notice, interview request, or other process or order provided that Executive has fulfilled the above obligations. (b) Executive agrees to cooperate fully with Summer and their legal counsel in connection with any action, proceeding, or dispute arising out of matters with which Executive was directly or indirectly involved while serving as an Executive of Summer. This cooperation shall include, but shall not be limited to, meeting with, and providing information to, Summer and its legal counsel, maintaining the confidentiality of any past or future privileged communications with Summer's legal counsel and making himself available to testify truthfully by affidavit, in depositions, or in any other forum on behalf of Summer. Summer agrees to reimburse Executive for any reasonable and necessary out-of- % # $ 6. Entire Agreement/No Reliance/No Modifications. This Agreement sets forth the entire agreement between the parties hereto and fully supersede any and all prior and/or supplemental understandings, whether written or oral, between the parties concerning the subject matter of this Agreement. Executive agrees and acknowledges that he has not relied on any representations, promises or agreements of any kind in connection with his decision to accept the terms of this Agreement, except for the representations, promises and agreements herein. Any modification to this Agreement must be made in writing and signed by Executive and Summer's head of Human Resources or his authorized representative. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 13 of 15 PageID #: 89

 


7. No Waiver. Any waiver by Summer of a breach of any provision of this Agreement, or of any other similar agreement with any other current or former Executive of Summer, shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision hereof. 8. Severability. Nothing contained herein shall be construed to require the commission of any act contrary to law. Should there be any conflict between any provisions hereof and any present or future statute, law, ordinance, regulation or other pronouncement having the force of law, the latter shall prevail, but the provision of this Agreement affected thereby shall be curtailed and limited only to the extent necessary to bring it within the requirements of the law, and the remaining provisions of this Agreement shall remain in full force and effect. 9. Survival of Executive's Obligations. Executive's obligations under this Agreement shall survive the termination of his employment regardless of the manner of such termination and shall be binding upon Executive's heirs, personal representatives, executors, administrators and legal representatives. 10. . Executive acknowledges and agrees that Summer has the right to assign this Agreement to its successors and assigns without the need for further agreement or consent by Executive, and all covenants and agreements hereunder shall inure to the benefit of and be enforceable by said successors or assigns. 11. Governing Law. This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Rhode Island. 12. Tolling. In the event Executive violates one of the time-limited restrictions in this Agreement, Executive agrees that the time period for such violated restriction shall be extended by one day for each day he/she have violated the restriction, up to a maximum extension equal to the length of the original period of the restricted covenant. Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 14 of 15 PageID #: 90

 


Case 1:15-cv-00218 Document 1-7 Filed 05/27/15 Page 15 of 15 PageID #: 91

 


EXHIBIT H Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 1 of 9 PageID #: 92

 


23 456778999:74 ! ! " #! $ % &' ( )# * ! #+ , & $ !' ' " & ( ! $ ) " - )# & ( )# % &' ( * ! # $ "" - ) '). & $ "" - / 0 '). & ! $ ! * ! # )# ! " # % &' ( * $ % &' ( $$ & ' ! ! / $ ) " -01 % &' ( "" ( * $ % &' ( $$ & /)0 2' ! ! - " % &' ( ! " # )# * ! # % &' ( "" ( $'"" )' ! " ( * $ % &' ( $$ & 1 /&0 % &' ( "" $ ! ' $ $'""# % &' ( "" - ' & ) 3 - '" ) & - $ * $ % &' ( $$ & 1 % &' ( "" 4 "" ( '& ' # - ) " ' / ' 3 " & )" 0 & # & # ' ) " ' 5' $ ' ! 1 / 0 - $ ( $ & 6 ' ! ! % &' ( ! # ( )" ! & ( ( ! & ( ( "( $ " & )" & !!' # '& " " ' ! " # $ 7 3 ! ! !) ) $ & $ 7 ! " # $ & ( % '& & ( ! & $" & # ! " - # - )' $ * ! # # ') #1

 


 &3 -" % &' ( &' "# )' & ( ' $ * ! # % &' ( & & ' & ( ' ! ! ( '& & ( ! ""# ) ) $ ! & Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 2 of 9 PageID #: 93

 


8 / 0 ! $ ! "" ) , ) ' # 6 896: / ! " 81 * ! 1 '). & ! $ ! - " % &' ( ! " # )# * ! # * ! # "" & ! $ ( & $ "" - / 0 " #1 , ( & ' ! * ! # "" # % &' ( " # ' " $ ;<=9 999 && & - # $ % ' " / ! & ( 0 ) ' ! $ $ & " # 896: - & ( ' # & ) ' ) & ( ! $ * ! # " $ ! & ! )# * ! * !! $ 4 1 , $ & " # 896: '). & ! $ & : ) " - ( % &' ( & ' ) ! " # )# * ! # $ " & " # $ 896: % &' ( - "" & ( ! !'! ) ' $ ;699 999 '). & " & )" - " " -$'" '& # )" ) $ " 6= 896=1 , ( & $ ') $ % &' ( ! " # $ " & " # $ 896: ! " # - "" & ( ! !'! ) ' ' ' & 8/)01 % &' ( - "" " ) " )" & ! )# * ! * !! $ 4 1 /&0 5' # - 1 '). & ( " $ * ! * !! $ ! & ( 68 5' " ! "# ""! / " # $ & ! 0 ( ># $ "" - 2 ( / 0 % &' ( ! & ' ' "# ! " # )# ( ( & * ! # & '& ( / 0 ( "" ) && " " 0 / 0 ( "" ) && " $'"" ' ! )# * ! # $ % &' ( - ' * ' / $ ) " -01 % &' ( - "" " ) " )" & ( !1 / 0 4 $ 1 % &' ( "" ) " )" $ ) $ &"' - ' " ! ! & " " ) $ $ ) $ &"' - ' ! " #! ! % ! ! ) $ ( )# / 0 % !)' ! 1 * ! # - "" !)' % &' ( $ "" )" ( " ! % &' )# % &' ( & & - " $ ! & $ ' ) " ( & ' Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 3 of 9 PageID #: 94

 


< ! ( '& % &' && ' $ && & - )" " & & ' )" )# * ! #1 /$0 ! $ & ' & 1 * ! # % &' ( & ! ' "# - % &' $ ! "" % &' ! $ & ! 1 * ! # "" ! & $$ & " ) " # ' & & !! & ""# )" ! ' / )"# ! )# 4 0 % &' ( "" ) & ( ' '& ' & ! % ! ! ! " # $ * ! # 4 1 / 0 " % 1 & " # $ "" - )# % &' ( $ &'! $ " " $ % &' )# % &' ( & & - $ ! * ! # "" # % &' ( ! ' ' ;= 999 $ '& " " $ % 1 ! ! ! # ) ! )# * ! # % &' ( - ' # ) & $ ! "# ' $ "" - & &'! & / 0 ' $ % &' ( + /)0 ' ! ) " # $ % &' ( $ '& ) " # % &' ( & )" * ! #+ / 0 ' " # $ ! !1 * ! # "" ( % &' ( $ "" - / 0 * ! # - "" # % &' ( && ' )" ! "# &\'% # # ) / 0 ! ' 5' " ( "' $ # && ' ' ' ( & # / 0 ! ' $ # % "# &' )# % &' ( ) "$ $ * ! # # '& ! # !)' ' ' & 8/ 0 $1 /)0 $ * ! # ! % &' ( - ' * ' % &' ( "" & ( $ "" - ) $ && ' )" / 0 / 0 $ ! &&' - $ % ! $ "" - $$ & ( 2 * ! # "" # % &' ( ! ' $ 4 " # - '" ( - ) ' %>! ( # )' $ " ! ' ' & :/)0 /40 $ ! &&' # ! $ "" - %>! ( # $ $$ & ( 2 * ! # "" # % &' ( ! ' $ 4 " # - '" ( - ) ' ? ' # <6 896= )' $ " ! ' ' & :/)0 & $ ) &" ' / 0 /40 " & & + / 0 * ! # "" # % &' ( # ) ' $ # ' ' & 8/)0+ Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 4 of 9 PageID #: 95

 


: / 0 ( "" && " $ # ' ( $ $ & 8/&0/ 0+ / (0 " ' & " $ ! % &' ( ! "# " & ! " )" $ & ' & ( ' *4 $ " & )" " & " ' & " - / 0 $ ! &&' - $ % ! $ "" - $$ & ( 2 $ ! ' " %>! ( # $ $$ & ( 2 /40 $ ! &&' # ! $ "" - %>! ( # $ $$ & ( 2 $ ! ' ? ' # <6 896=1 /&0 $ * ! # ! % &' ( ' & </&0 - * ' / 0 * ! # "" # % &' ( && ' )" ! "# $ "" - '& ! / 0 "" !! "# ) ! $ $ / 0 * ! # "" ( $'"$ "" #! ) $ )" % &' ( ' )" ' ! - & $ "' & ' $ $ " <9 # $ - ! $ ') " $ ! & ) " ( )# * ! # % &' ( - & & $ & ""# $ ! - & % &' ( $ " $ !+ /80 .' ' * ! # ! $ )# ( $ " - > $ > % &' ( & $ 4 ! $ 4 - & % &' ( ( ' # ) + /<0 % &' ( ) & ( & $ " " & $ " #+ /:0 % &' ( ) & ( & $ " " & ! ! ) # $ ' 1 / 0 $ % &' ( ! ! " #! $ # ' & </ 0 / 0 * ! # "" # % &' ( && ' )" " " & )" - " '& + / 0 ( $ "" & $ $ '& ! # ! ' ( "" ) $ $ 1 / 0 % &' ( # $ "" ) " )" $ *4 & ' & ( / & ) & :@A94 $ " ( ' * $ 6@AB & :/)01 /$0 * ! # "" ( # #! ) $ ) ( % &' ( )# * ! # ') # ' ' # ! " # ) $ " ! )" )# * ! # ') # / &"' - ' " ! # ! $ & $ ! * ! # $ ! > # ' $ & $$ & " ) " # & ( 0 ' & 8/$0 - - & # & " &" ! ' & ! " ) " - & % &' ( ! # Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 5 of 9 PageID #: 96

 


= * ! # && & - ! $ ! '& " ! 1 =1 # $ ! 1 / 0 % &' ( "" $ ! - - $ ( ) # $ * ! #1 ' " ! # $ ! "" &"' ( '& & ! & 5' $ !'" & ! & ! ' . & ( " ! " & &" & " & $ " & !!' & - '" # ) $ & " " & ! ' ! &' ! ' " " & & - 3 -" $ &' ! & ( &' ! $ * ! #1 % &' ( - "" &" # # $ ! # # ! " # $ * ! # - ' 7 && $ ! ' ! $ # ' / $ ! & $ ' ! " # $ * ! #0 - ' ( " )# $$ & $ * ! # ' $ ! " #! - * ! # ' " ' " '& # $ ! ) & ! ')" & 3 -" - ' $ '" $ % &' ( '& &" ' 5' )# " -1 /)0 % &' ( "" $ " " ! ! & 3 & - " ) # ) 3 ! " - & " & & )" ! " & # $ ! # $ ! - & )# % &' ( - & "" & ! &' # "" ) %&"' ( # $ * ! # - "" ) ' )# % &' ( "# $ ! & $ ' $ * ! #1 "" '& ! " & $ "" )" # $ * ! # &' # $ % &' ( "" ) " ( * ! # ' " $ / 0 5' )# * ! # / 0 ! $ ! " #! 1 $ '& " ( # % &' ( "" # '& ! " & $ # '& )" #1 - $ ( $ & =/)0 $ % &' ( & ' ( 4 $ "" - ! ! % &' ( /&0 % &' ( )" &" ' $ ! ! " $ # $ & =/ 0 =/)0 )" ' ! " )" # $ & =/)0 " % '& # $ $ ! ! " )" # $ &' ! $ * ! # ' " * ! # &"' " & " & - ! # ( &" ' ! * ! # % &' ( 1 B1 ( 1 / 0 % &' ( - "" ! 3 $'"" ! &" ' * ! # $ "" ( ! ( ! & ( ! ( " ! $ - - 3 $ ' - )" - & & ! & & ( '& & & )# ' & . "# - ' ! " #! )# * ! # Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 6 of 9 PageID #: 97

 


B - ' ! " - 3 ' ! $ * ! # / "" $ - & ) # /)0 % &' ( )# * ! # / # # )# * ! #0 "" $ " "" ( " " & & & # & # " & 1 - ( & B/)0 "" "# ( - & ' " " )' & ( " ! $ * ! # - & ! $ ! 1 % &' ( ' % ! ) & ' && & - " - $ # - & &"' 5' ! ! " # ! & &" $ ( ! )# ! " # & B/)0 "" ) "# # ( - & & ' '" * ! # $ "" - '& &" 1 /&0 % &' ( & $'""# - * ! # ) ' $ ! " #! - * ! # - & &' ! ! & $ & ! $ ! 3 & # "" & ' " # /) C $ & ' 0 " ( 1 % &' ( "" "" &"' - ' " ! & # " & " & &" $ ! " ! ! $ # - $ # - & * ! # ! # ! & # )" & # ( 1 % &' ( $' $ * ! # ' )" &' ' $ % &' ( # '& - )" $$ % &' ( $$ & $ * ! # "" ) " % &' # '& #> >$ & $ % &' ( % &' ( )# ( & )"# & % &' ( $$ & $ * ! # #> >$ & % &' # '& ) "$ 3 # "" & * ! # ! # ! & # )" & # ( ' & & ) 1 D1 ! 1 % &' ( &3 -" ) & $ & = B & ) )"# 5' "# & ! $ ! # ! " - '" & ' )" .' # * ! #1 && "# % &' ( - & ) & $ '& & * ! # " "" ! ( " )" * ! # " - 5' # & $ & $ ! & !! .' & ( " $ - ' ) 1 A1 ' ( ( "1 % &' ( )" ' & = B $ ! "" ' ( ( ! $ ! " #! ! ! " $ $ '& ! 1 @1 ( ) " #1 ( " # ' $ & ) " # $ # ( $ ! "" $$ & ( " # $ & ) " # $ # ( $ ! 1 Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 7 of 9 PageID #: 98

 


D 691 ( -1 ! "" ) ( )# & ' $ & && & - " " - $ $ " 1 661 '&& 1 ! "" ) $ & )" )# % &' ( % &' ! " " ( )# * ! # '&& 1 681 ! 1 ! - ! $ & ! & ! $ ' # ' ! ) - % &' ( * ! #1 ! ! # ) & "# )# ! - )# # - ! $ & ! $ # - ( & ! $ & % & ' 1 E* %% % '% +1F Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 8 of 9 PageID #: 99

 


Case 1:15-cv-00218 Document 1-8 Filed 05/27/15 Page 9 of 9 PageID #: 100

 


EXHIBIT I TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-9 Filed 05/27/15 Page 1 of 1 PageID #: 101

 


EXHIBIT J TO BE FILED UNDER SEAL Case 1:15-cv-00218 Document 1-10 Filed 05/27/15 Page 1 of 1 PageID #: 102

 

 

Summer Infant (NASDAQ:SUMR)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Summer Infant Charts.
Summer Infant (NASDAQ:SUMR)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Summer Infant Charts.