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Title: |
Employment Agreement |
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Date: |
2001 |
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Preview shows 4KB of 29KB total |
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Price: |
$38 |
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ID: |
#1152607 |
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EMPLOYMENT AGREEMENT
This AGREEMENT is entered into as of October 20, 2000 (the "Effective
Date"), by and between Richard Burns ("Executive") and 3dfx Interactive, Inc., a
California corporation (the "Company"). In consideration of the mutual covenants
and agreements hereinafter set forth, the parties agree as follows:
1. Duties and Scope of Employment.
(a) Position and Duties. For the term of his employment under this
Agreement, the Company agrees to employ Executive as its Executive Vice
President of Worldwide Sales reporting directly to the Chief Executive Officer
("CEO"), or person designated by the CEO. Executive shall have such duties and
authority as are commensurate with one employed in his position, as may be
customarily incident to such position, and as may be assigned to Executive from
time to time. Executive shall diligently, to the best of his ability, and with
the highest degree of good faith and loyalty, perform all such duties incident
to his position and use his best efforts to promote the interests of the
Company.
(b) Obligations to the Company. During the Employment Term,
Executive shall devote his full time and energy to the business of the Company
and shall not be engaged in any competitive business activity without the
express written consent of the CEO. Executive shall comply with the Company's
policies and rules, as they may be in effect from time to time during the term
of his employment.
(c) No Conflicting Obligations. Executive represents and warrants
to the Company that he is under no obligations or commitments, whether
contractual or otherwise, that are inconsistent with his obligations under this
Agreement. Executive represents and warrants that he will not use or disclose,
in connection with his employment by the Company, any trade secrets or other
proprietary information or intellectual property in which Executive or any other
person has any right, title or interest and that his employment by the Company
as contemplated by this Agreement will not infringe or violate the rights of any
other person or entity. Executive represents and warrants to the Company that he
has returned all property and confidential information belonging to any prior
employers.
2. Term of Employment.
(a) Basic Rule. The Company agrees to continue Executive's
employment, and Executive agrees to remain in employment with the Company, from
the Effective Date until the date when Executive's employment terminates
pursuant to Subsection 2(b) below (the "Employment Period"). Executive's
employment with the Company shall be "at will," which means that either
Executive or the Company may terminate Executive's employment at any time, for
any reason, with "Cause" or "Without Cause." Any contrary representations, which
may have been made to Executive shall be superseded by this Agreement. This
Agreement shall constitute the full and complete agreement between Executive and
the
<PAGE> 2
Company regarding the "at will" nature of Executive's employment, which may only
be changed in an express written agreement signed by Executive and the Chief
Executive Officer.
(b) Termination. The Company or Executive may terminate
Executive's employment at any time for any reason (or no reason), and with
"Cause" or "Without Cause," by giving the other party fourteen (14) days' notice
in writing. Executive's employment shall terminate automatically in the event of
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