|
|
|
|
Document Preview Employment Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Employment Agreement |
|||
|
Entities: |
||||
|
Date: |
2000 |
|||
|
Size: |
Preview shows 5KB of 23KB total |
|||
|
Price: |
$39 |
|||
|
ID: |
#1233723 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
FORM OF EMPLOYMENT AGREEMENT,
DATED AS OF AUGUST 1, 2000,
BETWEEN PROTOSOURCE CORPORATION AND
THEODORE TRIANTAFILU
<PAGE>
EMPLOYMENT AGREEMENT
TED TRIANTAFILU
AGREEMENT, dated as of the ___t day of July 2000, and effective as of
August 1, 2000, between Protosource Corporation, a California corporation,
having its primary place of business at 2800 28th Street, Suite 170, Santa
Monica, California 90405 (the "Company"), and Ted Triantafilu, an individual
residing at 150 Dunbar, Oldsmar Florida (the "Executive").
WHEREAS, the Company is an Internet service company principally engaged in
the business of providing residential and commercial high-speed Internet
dedicated and dial-up access, Web hosting, Web site development, and electronic
commerce services; and
WHEREAS, the Company has acquired Suncoast Automation Inc. of which the
Executive was an Executive; and
WHEREAS, the Company desires to employ the Executive as its Chief Operating
Officer of the Suncoast division; and
WHEREAS, Executive is willing to accept such employment by the Company, all
in accordance with provisions hereinafter set forth; and
NOW, THEREFORE, in consideration of the promises and mutual
representations, covenants, and agreements set forth herein, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree effective upon the Acquisition as
follows:
1. Term: The term of this Agreement shall be for a period of twenty-seven
(27) months commencing on the effective date of the Acquisition (the "Effective
Date"). The term of this agreement shall also be subject to earlier termination
as provided herein or unless extended by mutual consent of the parties. At the
end of the 27 month term, this agreement will automatically renew for one
additional year unless six (6) months prior written notice is provided to the
Executive.
2. Employment:
(A) Subject to the terms and conditions and for the compensation
hereinafter set forth, the Company hereby agrees to employ Executive for and
during the term of this Agreement. Executive is hereby employed by the Company
as its Chief Operating Officer. The Executive's powers and duties shall be those
of an executive nature which are appropriate for a Vice President in accordance
with the Company's By-Laws; and Executive does hereby accept such employment or
greater employment as may be mutually agreed upon by the parties hereto and
agrees to devote only as much time to the affairs of the Company as Executive
deems necessary to discharge his duties to the Company during the term of this
Agreement, to the performance of his duties upon the conditions hereinafter set
forth. Executive shall report to the Chief Executive Officer of the Company.
1
<PAGE>
(B) During the term of this Agreement, Executive shall be furnished with
office space and facilities in the greater Tampa area, commensurate with his
position and adequate for the performance of his duties; he shall be provided
with the perquisites customarily associated with the position of Vice President.
3. Compensation:
(A) Salary: During the term of this Agreement, the Company agrees to pay
Executive, and Executive agrees to accept, an annual salary of not less than One
Hundred and Thirty thousand dollars ($130,000) per year, payable in accordance
with the Company's policies, for services rendered by Executive hereunder.
(B) Stock Options: As additional compensation, the Company shall issue
Executive thirty thousand (30,000) stock options upon effectiveness of this
Agreement, which options shall vest one-third (1/3) per year over a three year
period. The strike price of the options will be the last sale price on the date
of this Agreement.
(C) Increases: The annual salary is subject to periodic increases at the
discretion of the Chief Executive Officer.
4. Expenses: The Company shall reimburse Executive for all reasonable and
actual business expenses incurred by him in connection with his service to the
Company, upon submission by him of appropriate vouchers and expense account
reports.
5. Benefits:
(A) Employee Benefits: In addition to the salary and bonus to be paid to
Executive hereunder, Executive and his dependents shall be entitled to
|
End of Preview |
Home Intelligence Services Subscriptions News About Us