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Employment Agreement

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Title:

Employment Agreement

Entities:

Assured Pharmacy, Inc.

Date:

2005

Size:

32KB total

Price:

$44

ID:

#1494352

► Employment ► Employment Agreements

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EMPLOYMENT AGREEMENT

This Employment Agreement (this "Agreement") is made effective as of this ____^th day of September, 2005, notwithstanding any other execution date, by and between eRXSYS Inc., a Nevada corporation (the "Company"), and Robert DelVecchio ("Executive").

R E C I T A L S

A. The Company is a corporation incorporated and in good standing under the laws of the State of Nevada engaged in Business as defined below.

B. The Company desires to employ Executive, and Executive desires to be employed by the Company in accordance with the terms and conditions contained herein.

NOW, THEREFORE, in consideration of the premises and the mutual promises and agreements contained herein, the Company and Executive hereby covenant and agree as follows:

ARTICLE 1

DEFINITIONS

The defined terms utilized throughout this Agreement shall have the following meanings which shall govern and control the interpretation of this Agreement:

"Agreement" means this Employment Agreement.

"Base Salary" shall have the meaning set forth in Section 3.1 of this Agreement.

"Benefits" shall have the meaning set forth in Section 3.2 of this Agreement.

"Business" shall mean the business of the Company which is engaged in operating pharmacies that specialize in dispensing highly regulated pain medication.

"Confidential Information" shall mean any and all information about the Business, the Company, its subsidiaries and affiliates, and their respective clients and customers that is not available to the general public and that is learned by Executive in the course of his employment by the Company, including, without limitation, any and all of the following:

(A) trade secrets, market studies, business plans, computer software and programs (including object code and source code), computer software and database technologies, systems, structures, and architectures (and related formulae, compositions, processes, improvements, devices, know-how, inventions, discoveries, concepts, ideas, designs, methods and information, and any other information), however documented, that is a trade secret within the meaning of the Uniform Trade Secrets Act (the "Act"), N.R.S. 600A.0.010 to 600A.100 et seq.; and

(B)	proprietary knowledge, data, business and product development

opportunities, formulae, information, and suppliers, vendors, distributors, manufacturers and customer lists and all papers, resumes, records (including computer records) and the documents containing such Confidential Information.

"Date of Termination" shall be two weeks following the date on which either party gives its written notice of termination in accordance with Section 7.5, provided Executives employment continues for such time. In the event Executives employment with the Company ends prior to such two week period, the Date of Termination shall be Executives last day of employment.

"Effective Date" means the date set forth in the preamble to this Agreement.

"Fiscal Year" means the Company's fiscal year, as it exists on the Effective Date or as changed from time to time.

"Proprietary Items" shall mean any of the Companys tangible property, trade secrets, business opportunities, and product development opportunities.

ARTICLE 2

EMPLOYMENT TERMS AND DUTIES

Section 2.1 Employment. The Company hereby employs the Executive, and the Executive hereby accepts and agrees to furnish the Company with all the Executives skills and abilities to perform the duties and responsibilities of the Chief Executive Officer and Chief Financial Officer, upon the terms and conditions set forth in this Agreement commencing as of the Effective Date and ending on the Date of Termination.

Section 2.2 Duties. The Executive will have such duties consistent with the position of Chief Executive Officer and Chief Financial Officer and additional duties as are assigned or delegated to the Executive by the board of directors. The Executive will use his best efforts and devote whatever business time, attention, skill, and energy that are necessary to promote the success of the Business, and will cooperate fully with the board of directors of the Company in the advancement of the best interests of the Company. Nothing in this Section 2.2, however, will prevent the Executive from continuing his existing business as a broker / dealer or from engaging in additional business activities or activities in connection with personal investments and community affairs that are not inconsistent with the Executive's duties under this Agreement or federal or state law. Executive shall perform all duties reasonably requested of him, and agrees to abide by the policies, practices, procedures or rules of the Company.

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