|
|
|
|
Document Preview Employment Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Employment Agreement |
|||
|
Entities: |
||||
|
Date: |
2000 |
|||
|
Size: |
Preview shows 4KB of 16KB total |
|||
|
Price: |
$39 |
|||
|
ID: |
#1325214 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
<SEQUENCE>9
<FILENAME>0009.txt
<DESCRIPTION>EMPLOYMENT AGREEMENT FOR MICHAEL HARTLEY
<TEXT>
EMPLOYMENT AGREEMENT
This Employment Agreement, dated as of March 15th, 2000, the
"Agreement") by and between Mike Hartley, (the "Employee") and Method Products
Corporation a Florida corporation (the "Employer"), located at 1301 West Copans
Road suite F-1 Pompano Beach Florida 33064.
WITNESSETH:
A. Employee is currently employed by Employer as Vice-President
Operations;
B. Employer wishes to secure the continued employment of Employee;
and
NOW, THEREFORE, in consideration of the mutual covenants and
undertakings set forth below, the parties agree as follows:
SECTION 1. EMPLOYMENT.
The Employer hereby employs the Employee and the Employee hereby
accepts employment with the Employer as V.P. Operations, subject to the terms
and conditions hereinafter set forth. The Employee agrees to render such
services to the Employer in the above referenced capacities during such hours
and at such places, as the Employer's President shall direct. Employee hereby
undertakes to perform such duties to the best of his ability and knowingly
reports to the President of the Company.
SECTION 2. TERM OF EMPLOYMENT.
The term of this Agreement shall be for a term of three (3) years
from the date hereof and shall be automatically renewable for additional terms
of three (3) years without any action on the part of the Employer or Employee,
except, however, that Employer or Employee may terminate this Agreement: (I) at
the end of any one (1) year period upon written notice to Employer or Employee
given not less than sixty (60) days prior to the termination date; and (ii) as
provided in Section 5 hereof.
SECTION 3. COMPENSATION.
(a) Initial Salary. In full payment for the obligations to be
performed by the Executive during the term of this Agreement, the Company shall
pay to the Executive a salary at an annual rate equal to the sum of Sixty-Five
Thousand Dollars ($65,000.00). Such salary may, in part from time to time,
depending upon cash flow and the reasonable discretion of the Company, be
subject to accrual and the Company agrees that at such time as the Company
increases the Employees salary to the maximum the Company shall than repay the
accrued sum in an equal basis over an agreed time period. Annual salary shall be
payable in equal installments on a biweekly basis or on the same basis as the
rest of the Company generally pays its employees.
(b) Employee's compensation shall be reduced on a pro rata basis for
any period of time he does not render his services except for approved sick
leave and annual vacation as set forth in Section 5 below.
SECTION 5. BENEFITS.
Employee shall be entitled to receive all of the benefits made
available to employees of the Employer generally. In addition the Employee, (a)
shall receive fifty thousand (50,000) shares of Method Products Corp. common
stock par value $0.0001 as a sign on bonus (b) an option to purchase a total of
one-hundred twenty thousand (120, 000) shares of the Method Products Corp. at
one dollar ($1.00) per share over a three year period on a equal basis as long
as the Employee fulfills the attached option agreement and all its covenants and
(c) two (2) weeks vacation as defined in the Company employment manual.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us