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Title: |
Employment Agreement |
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Entities: |
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Date: |
2001 |
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Size: |
Preview shows 4KB of 60KB total |
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Price: |
$43 |
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ID: |
#1536514 |
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EMPLOYMENT AGREEMENT
AGREEMENT dated as of July 1, 2000, between SYNERGY 2000,
INC., a Delaware corporation (the "Company"), and ELI DABICH, JR.
("Employee").
Company currently is engaged in the business of providing
comprehensive business and technology solutions, combining expertise in
information technology with practical consulting solutions for complex workforce
issues. Employee is experienced in general management, technology, human
resources and operational services affecting the Company.
Company desires to employ the Employee, and Employee is
willing to accept such employment, in each case, subject to the terms and
conditions set forth in this Agreement.
Accordingly, Company and Employee hereby agree as follows:
I. TERM OF EMPLOYMENT
The term of Employee's employment under this Agreement shall
be for a period of three (3) years, commencing as of July 1, 2000, unless
earlier terminated as provided in Article IV hereof (the "Employment Period").
Following the initial three (3) year term, this Agreement shall be renewed
automatically for successive terms of one (1) year unless either party gives
notice to the other at least ninety (90) days prior to the expiration of any
such term of its or his intention not to renew.
II. EMPLOYMENT; DUTIES AND ACCEPTANCE
SECTION 2.01. EMPLOYMENT. Employee shall devote his full-time
services, skill and time to the affairs of the Company and the promotion of its
interests. Employee shall be the President of Company and shall be responsible,
subject always to the direction of the Company's Board of Directors, for working
with Company's general management, business development and marketing teams.
Employee shall report to the Company's Board of Directors. Employee's
expenditure of reasonable amounts of time for personal, business, charitable or
professional activities shall not be deemed a breach of his undertaking to
provide the required services hereunder, subject always to the provisions of
Section 5.02 hereof, provided that such activities do not interfere materially
with Employee's ability to render such services.
SECTION 2.02. ACCEPTANCE OF EMPLOYMENT BY EMPLOYEE. Employee
accepts such employment with Company and shall render the services required by
this Agreement to be rendered by him, and hereby agrees to execute and deliver
the Company's "Confidentiality and Invention Assignment Agreement," in the form
attached hereto. The terms of that agreement require the Employee to refrain for
a period of time after employment from competing with the Company or using or
disclosing the Company's Confidential Information (as defined in the agreement)
or any confidential information received during your prior employment in any
manner which might be detrimental to or conflict with the business interests of
the Company or its employees.
25
<PAGE>
III. EMPLOYEE'S COMPENSATION
SECTION 3.01. BASE COMPENSATION. As compensation for services
to be rendered pursuant to this Agreement, Company shall pay Employee and
Employee shall accept, a base salary (the "Salary") at the annual rate of One
Hundred Twenty-One Thousand Dollars ($121,000) for the period commencing July 1,
2000 and ending June 30, 2001, increasing to not less than One Hundred
Thirty-One Thousand Dollars ($131,000) for the period commencing July 1, 2001
and ending June 30, 2002, and increasing to not less than One Hundred Fifty-One
Thousand Dollars ($151,000) for the period commencing July 1, 2002 and ending
June 30, 2003, and thereafter, at an annualized rate of not less than the rate
paid for the immediately preceding year, subject to annual adjustment, upwards
but not downwards. The salary shall be payable to Employee in accordance with
the Company's standard payroll policies.
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