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Employment Agreement

 

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Title:

Employment Agreement

Entities:

Powerchannel Inc

Date:

2004

Size:

Preview shows 5KB of 26KB total

Price:

$40

ID:

#1390612

 

 

► Employment ► Employment Agreements

 

 

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                              EMPLOYMENT AGREEMENT


THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into as of
February 10, 2004 (the "Effective Date") by and between PowerChannel, Inc., a
Delaware corporation (the "Company") and Steven Lampert ("Lampert").

WHEREAS, the Company provides low cost access to the Internet through the use of
the consumer's television; and

WHEREAS, Lampert has had experience in the management of businesses marketing
and providing Internet access; and

WHEREAS, the Company desires to retain the services of Lampert; and

WHEREAS, Lampert is willing to be employed by the Company.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the
parties agree as follows:

1. Employment. Lampert is hereby employed and engaged to serve the Company as
the Chief Executive Officer of the Company, or such additional titles as the
Company shall specify from time to time, and Lampert does hereby accept, and
Lampert hereby agrees to such engagement and employment. At all times during the
term of Lampert's employment, he shall remain a member of the Board of Directors
of the Company.

2. Duties. Lampert shall be responsible for the management of the Company. In
addition, Lampert's duties shall be such duties and responsibilities as the
Company shall specify from time to time, and shall entail those duties
customarily performed by the Chief Executive Officer of a company with a sales
volume and number of employees commensurate with those of the Company. Lampert
shall have such authority, discretion, power and responsibility, and shall be
entitled to office, secretarial and other facilities and conditions of
employment, as are customary or appropriate to his position. Lampert shall
diligently and faithfully execute and perform such duties and responsibilities,
subject to the general supervision and control of the Company's board of
directors. Lampert shall be responsible and report only to the Company's board
of directors. The Company's board of directors, in its sole and absolute
discretion, shall determine Lampert's duties and responsibilities and may assign
or reassign Lampert to such duties and responsibilities as it deems in the
Company's best interest. Lampert shall devote his full-time attention, energy,
and skill during normal business hours to the business and affairs of the
Company and shall not, during the Employment Term, as that term is defined
below, be actively engaged in any other business activity, except with the prior
written consent of the Company's board of directors.

Nothing in this Agreement shall preclude Lampert from devoting reasonable
periods required for:

(a) serving as a director or member of a committee of any organization or
corporation involving no conflict of interest with the interests of
the Company;

(b) serving as a consultant in his area of expertise (in areas other than
in connection with the business of the Company), to government,
industrial, and academic panels where it does not conflict with the
interests of the Company; and

1
<PAGE>
(c) managing his personal investments or engaging in any other
non-competing business; provided that such activities do not
materially interfere with the regular performance of his duties and
responsibilities under this Agreement as determined by the Company.

3. Best Efforts of Lampert. During his employment hereunder, Lampert shall,
subject to the direction and supervision of the Company's board of directors,
devote his full business time, best efforts, business judgment, skill, and
knowledge to the advancement of the Company's interests and to the discharge of
his duties and responsibilities hereunder. Notwithstanding the foregoing,
nothing herein shall be construed as preventing Lampert from investing his

 

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