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Document Preview Employment Agreement |
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Title: |
Employment Agreement |
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Entities: |
Marsh Supermarkets, Inc.; Frank Bryja; Marsh Supermarkets Inc. |
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Date: |
2003 |
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Size: |
Preview shows 4KB of 26KB total |
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Price: |
$38 |
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ID: |
#106906 |
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EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT ("Agreement") is entered into between Marsh
Supermarkets, LLC, an Indiana limited liability company ("Company"), and Frank
J. Bryja, a resident of Muncie, Indiana ("Executive"), as of September 15, 2002
(the "Effective Date"). Company and Executive are sometimes referred to herein
individually as a "Party" and collectively as the "Parties".
WHEREAS, Executive was employed by the Company and its affiliate, Marsh
Supermarkets, Inc. ("Marsh") from 1965 to 2002; and
WHEREAS, Executive resigned as an officer of the Company and Marsh and
retired from employment with the Company and Marsh on March 30, 2002; and
WHEREAS, Company desired the benefit of Executive's experience in and
knowledge of retail food operations and merchandising and retained his
consulting services after his retirement for a period of one (1) year pursuant
to a certain Consulting Agreement, dated as of March 30, 2002 (the "Contract");
and
WHEREAS, in lieu of his services as a consultant pursuant to the
Contract, the Company desires to terminate the Contract and rehire Executive as
President and Chief Operating Officer of the Company, and Executive is willing
to terminate the Contract and serve the Company in such capacity on the
following terms and conditions,
NOW, THEREFORE, in consideration of the mutual covenants contained in
this Agreement and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, and intending to be legally bound,
the Parties hereby agree as follows:
1. EMPLOYMENT. Company hereby employs Executive and Executive hereby
accepts employment with the Company upon the terms and conditions set forth
herein. The Parties agree that the Contract is terminated as of the Effective
Date.
2. DUTIES AND RESPONSIBILITIES.
2.1 Extent of Service. Executive shall, during the Term
(hereinafter defined), devote his full time, attention, energies and
business efforts to his duties as an executive of the Company as are
necessary to carry out his duties specified in Section 2.2 below.
Executive shall not, during the Term, engage in any other business
activity if such business activity would impair in any material respect
the Executive's ability to carry out his duties hereunder.
2.2 Position and Duties. During the Term, Executive shall serve
the Company as President and Chief Operating Officer and shall perform
the services and functions relating to such office or otherwise
reasonably incident to such office as may be designated from time to
time by the Board of Managers of the Company (the "Board"), the Chairman
of the Board or the President of Marsh.
3. SALARY AND OTHER BENEFITS.
3.1 Salary. As compensation for his services as President and
Chief Operating Officer during the Term, Executive shall be paid an
annual salary of not less than Three Hundred Fifteen Thousand and No/100
Dollars ($315,000.00) (the "Base Salary"), payable in accordance with
the then current payroll policies of the Company, but in no event less
frequently than once each fiscal period of the Company. The Base Salary
may be increased by the Board of Managers of the Company (or the
appropriate committee thereof) from time to time and shall be increased
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