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Title:

Employment Agreement

Entities:

Oncure Medical Corp

Date:

2001

Size:

Preview shows 11KB of 37KB total

Price:

$38

ID:

#1596741

 

 

► Employment ► Employment Agreements

 

 

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6

0006.txt
EMPLOYMENT AGREEMENT




EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this "Agreement") is effective as of this 22nd
day of May 1998 among U.S. Cancer Care, Inc., a Delaware corporation, (the
"Corporation") and Randy C. Sklar (the "Employee").

RECITALS

A. The Corporation owns or controls and intends to acquire ownership
and control of entities which provide radiation oncology treatments to cancer
patients.

B. The Corporation wishes to retain the services of the Employee as its
Executive Vice President of Business Development, on the terms, and subject to
the conditions, hereinafter set forth.

AGREEMENT

ARTICLE II
DEFINITIONS AND CONSTRUCTION

2.1 DEFINITIONS. For purposes of this Agreement, unless the context
otherwise requires, the following terms have the respective meanings set out
below.

A. "AFFILIATE" shall mean any Person, whether present or future, that
directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with the Corporation.

B. "AGREEMENT" shall have the meaning ascribed thereto in the preamble
of this Agreement.

C. "BOARD" shall have the meaning ascribed thereto in Section 3.1.

D. "BUSINESS" shall have the meaning ascribed thereto in Section 10.1.

E. "CAUSE" shall have the meaning ascribed thereto in Section 4.2.

F. "CHANGE OF CONTROL" means and includes each of the following: (i)
the acquisition, in one or more transactions, of beneficial ownership (within
the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act")) by any Person or any group of Persons who constitute a
group (within the meaning of Section 13d-3 of the Exchange Act), other than a
trustee or other fiduciary holding securities under an employee benefit plan of
the Corporation or any Affiliate of the Corporation, of any securities of the
Corporation such that, as a

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result of such acquisition, such Person or group beneficially owns (within the
meaning of Rule 13d-3 of the Exchange Act), directly or indirectly, more than
forty-percent (40%) of the Corporation's outstanding voting securities entitled
to vote on a regular basis for a majority of the members of the Board; (ii) a
change in the composition of the Board such that a majority of the members of
the Board were not (A) members of the Board on the date of this Agreement or (B)
nominated for election or elected to the Board with the affirmative vote of a
majority of directors who were members of the Board on the date of this
Agreement; or (iii) the stockholders of the Corporation approve a merger or
consolidation of the Corporation with any other corporation, other than a merger
or consolidation which would result in the voting securities of the Corporation
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) at least eighty-percent (80%) of the total voting power
represented by the voting securities of the Corporation or such surviving entity
outstanding immediately after such merger or consolidation, or the stockholders
of the Corporation approve a plan of complete liquidation of the Corporation or
an agreement for the sale or disposition by the Corporation of (in one or more
transactions) all or substantially all of the Corporation's assets.

G. "COMMENCEMENT DATE" shall have the meaning ascribed thereto in
Article II.

H. "CONFIDENTIAL INFORMATION" shall mean non-public information
concerning the Corporation, including without limitation, financial data,
statistical data, strategic business plans, agreements or other material
relating to the business, services or activities of the Corporation and its
Affiliates and (b) trade secrets, market reports, customer investigations,
customer lists, practices, processes, methods, information relating to
government relations and other similar information that is proprietary
information of the Corporation or its Affiliates.

I. "CORPORATION" shall have the meaning ascribed thereto in the
preamble of this Agreement.

J. "CUSTOMER" means any Person to whom the Corporation or any of its
Affiliates currently sells or provides goods or services, or has sold or
provided goods or services at any time within the twelve (12) month period prior
to the time at which any determination is required to be made as to whether any
such Person is a Customer.

K. "DISABILITY" shall have the meaning ascribed thereto in Section 4.4.

L. "EMPLOYEE" shall have the meaning ascribed thereto in the preamble
of this Agreement.

M. "EXCHANGE ACT" shall have the meaning ascribed thereto in Section
1.1(g).


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N. "GAAP" shall mean generally accepted accounting principles and
practices set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as may be approved by a significant
segment of the accounting profession that are applicable to the circumstances as
of the date of determination, applied on a consistent basis.

O. "NON-COMPETITION PERIOD" shall have the meaning ascribed thereto in
Section 10.1.

P. "PERSON" shall mean any individual, corporation, limited or general
partnership, joint venture, association, joint stock company, limited liability
company, trust, unincorporated organization or any other entity, union or
association, or government or any agency or political subdivision thereof.

Q. "PROSPECTIVE BUSINESS ACTIVITY" shall have the meaning ascribed
thereto in Section 10.1.

R. "RESTRICTED STOCK AWARD AGREEMENT" shall mean that certain agreement
between the Corporation and the Employee, executed as of the same date of this
Agreement, whereby the Corporation grants the Employee, subject to the terms of
such Agreement, as incentive compensation, a restricted stock award of 300,000
shares of common stock of the Corporation.

S. "SHARES" shall have the meaning ascribed thereto in Section 8.1.

T. "SUBSIDIARY" shall mean with respect to any Person, any corporation,
association or other business entity of which securities representing 50% or
more of the combined voting power of the total voting stock (or in the case of
an association or other business entity which is not a corporation, 50% or more
of the equity interest) is at the time owned or controlled, directly or
indirectly, by that Person or one or more Subsidiaries of that Person or a
combination thereof.

U. "TERM" shall have the meaning ascribed thereto in Section 4.1.

1.2 CONSTRUCTION.

A. CAPTIONS. The captions of Articles, Sections and Subsections of this
Agreement are inserted for convenience only and shall not affect the meaning or
construction of the contents of this Agreement.

B. EXHIBITS. The exhibits to this Agreement are integral parts of this
Agreement and are hereby incorporated herein by this reference as if fully set
forth herein.

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C. MANDATORY AND PERMISSIVE ACTS. As used in this Agreement, the words
"shall" and "will" refer to mandatory acts; the word "may" shall refer to
permissive acts.

D. REFERENCES. References in this Agreement to Articles, Sections, and
Subsections, unless specifically stated otherwise, are to the articles, sections
and subsections of this Agreement.

E. MISCELLANEOUS TERMS. The term "or" shall not be exclusive. The terms
"herein," "hereof," "hereto," "hereunder" and other terms similar to such terms
shall refer to this Agreement as a whole and not merely to the specific article,
section, paragraph or clause where such terms may appear. The term "including"
shall mean "including, but not limited to".

ARTICLE III
EMPLOYMENT

The Corporation hereby employs the Employee and the Employee hereby accepts
employment with the Corporation, commencing as of June 17, 1998 (the
"Commencement Date"), for the Term, in the position and with the duties and
responsibilities set forth in Article III, and upon such other terms and
conditions set forth in this Agreement.

ARTICLE IV
POSITION; DUTIES

4.1 POSITION AND DUTIES. The Employee shall serve as Executive Vice
President of Business Development of the Corporation subject to the control and
direction of the Vice-Chairman of the Board, President, Chief Executive Officer
and the Board of Directors of the Corporation (the "Board") with duties and
responsibilities that are customary for such office; including, but not limited
to, the strategic development of the short-term and long-term business goals of
the Corporation. The Employee shall have such other powers and duties customary
for such office as may be prescribed by the Board or by the bylaws of the
Corporation.

4.2 BEST EFFORTS. The Employee will use his best efforts to perform his
duties and discharge his responsibilities pursuant to this Agreement
competently, carefully and faithfully. In determining whether or not the

 

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