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Title: |
Employment Agreement |
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Entities: |
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Date: |
2002 |
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Size: |
Preview shows 4KB of 18KB total |
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Price: |
$36 |
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ID: |
#1528510 |
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EMPLOYMENT AGREEMENT
This Employment Agreement ("Agreement") is made effective as of March
11, 1999, (the "Effective Date") by and between InterDent, Inc., a Delaware
corporation (the "Company"), and L. THEODORE VAN EERDEN ("Employee").
RECITALS
Pursuant to that certain Agreement and Plan of Reorganization and
Merger by and between the Company, Wisdom Holdings Acquisition Corp. I, Wisdom
Holdings Acquisition Corp. II, Gentle Dental Service Corporation ("GDSC") and
Dental Care Alliance, Inc. ("DCA") dated October 15, 1998, the Company was
formed and has determined to employ Employee as its Chief Development Officer,
Executive Vice President and Secretary. The parties desire that this Agreement
supersede any and all prior employment agreements employee may have with GDSC
and that such prior agreements be cancelled.
AGREEMENT
In consideration of the promises, covenants, and representations below,
the parties agree as follows:
1. Base Compensation. The Company will pay Employee as compensation for
Employee's services a base salary at the annual rate of $140,000 or at such
higher rate as the Company may determine from time to time ("Base Salary").
Employee's Base Salary will be payable in accordance with the Company's standard
payroll procedures.
2. Duties. Employee shall serve as Chief Development Officer, Executive
Vice President and Secretary of the Company and shall perform such customary,
appropriate and reasonable duties as are usually performed by persons in these
positions or as may be delegated to Employee by the Board of Directors (the
"Board") or Chief Executive Officer of the Company. Employee shall be employed
on a full-time basis and shall devote all of Employee's working time, attention
and energies to the Company during the term of Employee's employment.
Notwithstanding the preceding, Employee will not be precluded from engaging in
appropriate professional, educational, civic, charitable or religious activities
or from devoting a reasonable amount of time to private investments that do not
interfere or conflict with Employee's responsibilities to the Company. Employee
shall principally perform Employee's duties hereunder at the West Coast Regional
Offices of the Company in Vancouver, Washington.
3. Term of Employment. Employee's employment with the Company is
"at-will" and, therefore, either Employee or the Company can terminate
Employee's employment at any time for any reason or no reason at all, with or
without cause.
4. Employee Benefits. During the term of Employee's employment,
Employee will be eligible to participate in the employee benefit plans and
executive compensation programs (including any bonus plan(s) established by the
Compensation Committee) maintained from time to time for other senior executive
officers of the Company to the extent that other senior executive officers of
similar level and duties are eligible to participate in such programs and if
Employee qualifies for participation in any such programs. These benefits may
change from time to time.
5. Business Expenses. During the term of Employee's employment, the
Company shall reimburse Employee for necessary and reasonable travel,
entertainment and other business expenses appropriately incurred by Employee in
connection with performing Employee's duties. The Company will reimburse
Employee for such expenses upon presentation of an itemized account and
appropriate supporting documentation, all in accordance with the Company's
generally applicable policies.
6. Proprietary Information Agreement. Employee has signed and will
abide by the terms of the Proprietary Information Agreement, the form of which
is attached hereto as Exhibit A.
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