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Document Preview Employment Agreement |
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Title: |
Employment Agreement |
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Entities: |
iCAD, Inc.; Blank Rome LLP; Howtek, Inc.; W. Scott Parr; Icad Inc. |
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Date: |
2002 |
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Size: |
Preview shows 3KB of 19KB total |
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Price: |
$35 |
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ID: |
#118381 |
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EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of
February 15, 2002, by and between HOWTEK, INC., a Delaware corporation (the
"Company"), and W. SCOTT PARR (the "Executive") (collectively, the "Parties").
WHEREAS, the Company desires to employ Executive, and Executive desires
to be employed by the Company, upon the terms and conditions set forth herein;
and
WHEREAS, the Company is willing to employ Executive only on the
condition that Executive agrees to the non-competition and non-disclosure
covenants contained herein;
NOW, THEREFORE, in consideration of the premises and mutual covenants
set forth herein, the parties agree as follows:
1. Employment.
1.1 Employment and Term. This Agreement shall be effective on the date
(the "Effective Date"), and only in the event, of the consummation of the
merger of Intelligent Systems Software, Inc., a Florida corporation, with and
into the Company pursuant to the Agreement and Plan of Merger dated the date of
this Agreement. Subject to the completion of the Merger, the Company hereby
agrees to employ Executive, and Executive hereby agrees to serve the Company,
on the terms and conditions set forth herein for the period commencing on the
Effective Date and expiring on the three-year anniversary of the Effective Date
(the "Term") unless sooner terminated as hereinafter set forth.
1.2 Duties of Executive. Executive shall serve as the President of the
Company. Subject to the preceding sentence, during the Term, Executive shall
diligently perform all services as may be reasonably assigned to him by the
Chief Executive Officer of the Company. Executive shall devote substantially
all of his working time and attention to the business and affairs of the
Company, render such services to the best of his ability and use his best
efforts to promote the interests of the Company. Executive may devote such
reasonable amount of time as he determines to (i) serving, with the approval of
the Board of Directors, as a director, trustee or member of any board or
committee of any other organization; or (ii) engaging in charitable and
community activities; provided, however, that such activities may not involve
any material conflict of interest with the interests of the Company or
interfere materially with the performance of his duties and responsibilities
under this Agreement.
1.3 Hudson Location. During the Term, the Company shall maintain an
office suitable for the performance of Executive's duties hereunder within 20
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