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Document Preview Employment Agreement |
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Title: |
Employment Agreement |
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Entities: |
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Date: |
2001 |
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Size: |
Preview shows 4KB of 16KB total |
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Price: |
$41 |
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ID: |
#1209858 |
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<SEQUENCE>4
<FILENAME>0004.txt
<TEXT>
EMPLOYMENT AGREEMENT
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This Agreement is made and entered into as of August 23,
1999, by and between INTERGRAPH CORPORATION (the "Company") and
JOHN W. WILHOITE (the "Employee").
RECITALS:
---------
The Company desires to continue to employ the Employee as
Executive Vice President and Chief Financial Officer of the
Company and the Employee desires to continue employment in such
capacity all on the terms set forth herein.
AGREEMENT:
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NOW, THEREFORE, in consideration of the premises and the
mutual agreements hereinafter set forth, the Company agrees with
Employee, and Employee agrees with Company, as follows:
1. Definitions.
1.1 "Cause" means (i) conduct amounting to fraud,
embezzlement or misappropriation; (ii) the material breach by the
Employee of this Agreement; or (iii) engaging in activities
prohibited hereunder.
2. Terms of Employment; Duties.
2.1 The Company employs the Employee as Executive Vice
President and Chief Financial Officer of the Company and the Employee
accepts such employment in those capacities subject to the terms
and conditions hereof. In such position, Employee shall (i)
continue to perform substantially the functions and operate with
the authority as his current functions and authority with the
Company, reporting directly to the Chief Executive Officer of the
Company; and (ii) have such managerial and executive duties and
responsibilities with respect to the business of the Company as
the Company shall determine from time to time, consistent with
clause (i) of this Section 2.1 and with his current position and
current authority.
2.2 Throughout his employment hereunder, the Employee shall
devote sufficient time, energy and skill to perform the duties of
his employment (vacations, reasonable personal time off, and
reasonable absences due to illness excepted), shall faithfully
and industriously perform such duties, and shall use his best
efforts to follow and implement all management policies and
decisions of the Company.
2.3 This agreement is being consummated subsequent
to a decision within Intergraph to significantly verticalize the
organization. This verticalization will significantly change the
reporting structure in the Company, including the reporting
structure to the CFO. Much of the current financial and
administrative manpower will be allocated to the vertical units,
however the requirement to maintain overall financial control and
reporting will remain with the CFO. During this transition, the
CFO may be required to not only act as Intergraph's CFO, but also
act in the lead capacity for financial and adminstrative control in
one or more of the vertical units.
3. Compensation.
3.1 For his services hereunder, the Company shall pay to
Employee an annual salary at the rate, effective the date of this
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