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Employment Agreement

 

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Title:

Employment Agreement

Entities:

Image Innovations Holdings Inc; Natalma Industries Inc.

Date:

2005

Size:

Preview shows 6KB of 34KB total

Price:

$37

ID:

#1595931

 

 

► Employment ► Employment Agreements

 

 

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4

v016366_ex10-6.txt


EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT, dated as of December 29, 2004, by and between IMAGE
INNOVATIONS HOLDINGS INC., a Nevada corporation, having a principal place of
business at 432 Park Avenue South, New York, New York 10022 (the "Company"), and
Derick G Sinclair having a residence address at 1550 Ostler Crt, North
Vancouver, BC, Canada, V7G2P1 (the "Executive").


RECITALS

WHEREAS, the Company desires to employ the Executive to render services to
the Company as an executive officer, and the Executive desires to render such
services on behalf of the Company; and

WHEREAS, the Company and the Executive desire to set forth the terms and
conditions on which (i) the Company will employ the Executive, (ii) the
Executive will render services to the Company and any other corporation or
business entity controlling, controlled by or under common control with the
Company (each, an "Affiliate"), and (iii) the Company will compensate the
Executive for such services.

NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein set forth, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

1. Employment.

The Company hereby employs the Executive, and the Executive hereby accepts
such employment, upon the terms and conditions herein set forth.

2. Term.

Subject to the provisions for termination provided herein, the initial
term of employment of the Executive under this Agreement shall be for a period
of two (2) years commencing on January 1, 2005 and ending on December 31, 2007
(the "Initial Term"). The Executive's employment under this Agreement shall be
automatically extended thereafter for two additional one-year periods (each, an
"Extension Term") unless either party gives a notice of termination not earlier
than 180 days and not later than 90 days prior to the expiration of the Initial
Term or any Extension term. The Initial Term and all Extension Terms, if any,
are referred to herein as the "Term."




1


3. Duties and Responsibilities.

3.1 During the Term of this Agreement, the Executive shall serve the
Company in an executive capacity and shall perform such duties as are reasonably
determined from time to time by the Company's Board of Directors. The Executive
shall devote his full attention and apply his reasonable efforts, energies and
skills, on a full-time basis, to the business of the Company and each Affiliate
(such corporations or other business entities being referred to herein
collectively as the "Image Group") and shall not during the Term of this
Agreement be engaged in any other business activity, whether or not such
business activity is pursued for gain, profit, or other pecuniary advantage. The
Company acknowledges that the Executive holds existing positions outside the
Image Group: Sole Officer and Director for Ribot Farms Ltd. Sole Officer and
Director of Natalma Industries Inc. Sole Officer and Director of Cosmah
Industries Inc. The Executive represents that his involvement with these
entities have no priority over the work he will perform for the Company and will
not interfere with the Executive's responsibilities and duties to the Company.
The Executive will provide notice to the Company, in writing, of any change in
the status of his positions outside the Image Group. Subject to the provisions
of Section 10 hereof, the foregoing restriction shall not be construed as
preventing the Executive from investing his assets in such form or manner as
will not require any services on his part in the operation of the affairs of the
companies in which such investments are made.

3.2 During the Term, the Executive shall serve as and perform the function
of Cheif Financial Officer and shall perform such other duties and functions as
the Board of Directors of the Company may determine consistent with the
Executive's experience and background. The Executive will be one of the
Company's principal operating officers and, as such, shall conduct and manage
the Company's business in accordance with the policies established by the Board
of Directors from time to time.

3.3 The Executive shall have a duty to act only in the best interest of
the Image Group and acknowledges that he owes the Image Group a high degree of
trust and loyalty. While he is employed by the Company, the Executive shall not
take any action that would harm or detrimentally impact upon the Image Group's
business.

3.4 At all times during the performance of this Agreement, the Executive
shall strictly adhere to all policies, rules and regulations that have now been,
or may hereafter be, established by the Image Group for his conduct, including,
but not limited to, all matters set forth in any employee handbook of the Image
Group, as adopted and modified from time to time. The Executive shall report
directly to, and shall be subject to the direction and control of, the Board of
Directors of the Company.

3.5. In order to induce the Company to enter into this Agreement, the
Executive represents and warrants to the Company that (a) the Executive is not a
party or subject to any employment agreement or arrangement with any other

 

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