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Employment Agreement

 

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Title:

Employment Agreement

Entities:

iCAD, Inc.; Blank Rome LLP; Howtek, Inc.; W. Kip Speyer; Icad Inc.

Date:

2002

Size:

Preview shows 3KB of 20KB total

Price:

$36

ID:

#118382

 

 

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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. KIP SPEYER (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 Chief Executive
Officer 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 Board of Directors. 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 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 Boca Raton Location. During the Term, the Company shall maintain an
office suitable for the performance of Executive's duties hereunder within 20
miles of Boca Raton, Florida, so that Executive shall not be obligated to move

 

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