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Employment Agreement

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Title:

Employment Agreement

Entities:

Kv Pharmaceutical Co

Date:

2002

Size:

Preview shows 3KB of 10KB total

Price:

$37

ID:

#1260585

► Employment ► Employment Agreements

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                              EMPLOYMENT AGREEMENT



BETWEEN:



                                B TWELVE LIMITED.

                   (hereinafter referred to as the "Company")



                                      -and-



                               DR. JEAN-LUC BERGER

                  (hereinafter referred to as the "Executive")



WHEREAS the Company is a wholly owned subsidiary of B Twelve Inc., a corporation

existing under the laws of the State of Florida; and



WHEREAS the Company is desirous of employing the services of the Executive and

the Executive is desirous of providing his services to the Company on the terms

and in accordance with the provisions hereinafter set forth;



NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the services,

payments, terms, provisions and covenants hereinafter set forth, the parties

agree as follows:



1.       The Company hereby engages the Executive as President and Chief

         Executive Officer. The Executive will devote a sufficient portion of

         his business time and effort to carry out the performance and duties as

         reported in Schedule A, attached hereto, and under this agreement and

         shall conform to all lawful instructions and directions given to him by

         the Board of Directors of the Company.



2.       This agreement shall commence June 1, 2001 and continue for a period of

         two (2) years until May 31, 2003 at which time it shall come to an end

         unless earlier terminated in accordance with the terms of this

         agreement.



3.       In consideration of the services performed by the Executive, the

         Company will pay to the Executive an annual salary in the amount of

         C$60,000. In consideration of the same services performed by the

         Executive, the Company shall pay to the Executive an annual salary in

         the amount of C$100,000, commencing upon such date as the parent

         company successfully raises funds in the amount of US$1,000,000, to the

         satisfaction of the Company's payments until this objective is

         achieved. The Officer shall also receive options in accordance with the

         Option Agreement attached hereto.



4.       Vacation time will be granted to the Executive on a discretionary

         basis. Under no circumstances will vacation time be less than that

         required pursuant to the Employment Standards Act of Ontario.

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