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Executive Employment Agreement

 

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Title:

Executive Employment Agreement

Entities:

Auxilio Inc

Date:

2006

Size:

Preview shows 4KB of 25KB total

Price:

$38

ID:

#1255118

 

 

► Employment ► Employment ► Executive Employment Agreements

 

 

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<TEXT>

EXECUTIVE EMPLOYMENT AGREEMENT

This Executive Employment Agreement ("Agreement") is made effective as of
January 1, 2006 ("Effective Date"), by and between AUXILIO, Inc., a Nevada
corporation ("Company") and Joseph J. Flynn ("Executive").

The parties agree as follows:

1. Employment. Company hereby employs Executive, and Executive hereby
accepts such employment, upon the terms and conditions set forth herein.

2. Duties.

2.1 Position. Executive is employed as Chief Executive Officer and
Chairman of the Board of Directors and shall have the duties and
responsibilities assigned by the Company's Board of Directors both upon initial
hire and as may be reasonably assigned from time to time. Executive shall
perform faithfully and diligently all duties assigned to Executive. Company
reserves the right to modify Executive's position and duties at any time in its
sole and absolute discretion.

2.2 Best Efforts/Full-time. Executive will expend Executive's best
efforts on behalf of Company and its subsidiaries, and will abide by all
policies and decisions made by Company, as well as all applicable federal, state
and local laws, regulations or ordinances. Executive will act in the best
interest of Company at all times. Executive shall devote Executive's full
business time and efforts to the performance of Executive's assigned duties for
Company, unless Executive notifies the Board of Directors in advance of
Executive's intent to engage in other paid work and receives the Board of
Directors' express written consent to do so.

3. Term.

3.1 Initial Term. The employment relationship pursuant to this
Agreement shall be for an initial term commencing on the Effective Date set
forth above and continuing for a period of 2 (two) years following such date
("Initial Term"), unless sooner terminated in accordance with paragraph 7 below.

3.2 Renewal. On completion of the Initial Term specified in
subparagraph 3.1 above, this Agreement will automatically renew for subsequent
12 month terms unless either party provides advance written notice to the other
that such party does not wish to renew the Agreement for a subsequent 12 months.
In the event either party gives notice of nonrenewal pursuant to this
subparagraph 3.2, this Agreement will expire at the end of the current term.

4. Compensation.

4.1 Base Salary. As compensation for Executive's performance of
Executive's duties hereunder, Company shall pay to Executive an initial Base
Salary of $180,000 for the first year, payable in accordance with the normal
payroll practices of Company, less required deductions for state and federal
withholding tax, social security and all other employment taxes and payroll
deductions. In the event Executive's employment under this Agreement is
terminated by either party, for any reason, Executive will be entitled to
receive Executive's Base Salary prorated to the date of termination. Such amount
shall eligible for increase to $195,000 effective January 1, 2007 in accordance
with the provisions set forth in Exhibit A.


<PAGE>

4.2 Incentive Compensation. Executive will be eligible to earn
incentive compensation in accordance with the provisions set forth in Exhibit A.

4.3 Equity Compensation. Executive will be granted stock options to
purchase 100,000 shares of the Company's Common Stock at an exercise price equal
to the fair market value of the stock on the date of grant. The options will
vest over three years.

5. Customary Fringe Benefits. Executive will be eligible for all customary
and usual fringe benefits generally available to executives of Company subject
to the terms and conditions of Company's benefit plan documents. Company

 

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