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Document Preview Chief Operating Officer Engagement Agreement |
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Title: |
Chief Operating Officer Engagement Agreement |
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Entities: |
Michael Miller; Ceristar Inc. |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 23KB total |
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Price: |
$34 |
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ID: |
#163764 |
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CHIEF OPERATING OFFICER ENGAGEMENT AGREEMENT
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THIS AGREEMENT (this "Agreement") is made and effective this ninth day
of October 2003 (the "Commencement Date"), by and between MICHAEL MILLER ("COO")
and CERISTAR, INC., a Delaware corporation (the "Company" or "Employer") for the
employment of COO by the Company.
NOW, THEREFORE, the parties agree as follows:
1. Employment. As of the Commencement Date, Employer hereby employs COO
as the Company's Chief Operating Officer under the terms and conditions set
forth herein.
2. Term of Employment. Employer hereby employs the COO and the COO
hereby accepts employment under this Agreement effective October 9, 2003 (the
Commencement Date) and continuing for a period of twelve (12) months through
October 10, 2004. Subject to the provisions of termination set forth in Section
8 hereof, renewal of this Agreement shall be automatic for successive one-year
periods unless: (i) the COO shall have given written notice to the Employer at
least thirty (30) days prior to the expiration of the then current Term that he
does not intend to renew, or (ii) the Company shall have given written notice to
the COO not less than sixty (60) days prior to the expiration of the then
current Term of its intent to not renew the Agreement, whereupon, in either
case, this Agreement shall expire at the end of the then current Term. Reference
to "Term" herein shall refer to both the initial term and any such successive
renewal period.
3. Duties of COO.
(a) Chief Operating Officer . COO shall serve as the Company's Chief
Operating Officer and shall assume such duties and responsibilities that are
customary for chief operating offices of corporations in the Company's business,
subject at all times to the direction and control of the CEO and President. COO
will perform his services at the Company's offices.
4. Compensation and Expenses.
(a) Base Salary. For the services of the COO to be rendered under this
Agreement, the Company will pay the COO a monthly base salary of $7,000 (as
increased from time to time, the "Base Salary"). The Company will pay the COO
his Base Salary per regular company payroll schedules.
(b) Base Salary Adjustment. The Board may increase the COO's base
salary from time to time on such terms and conditions as the CEO and Board
deems.
(c) Bonus Compensation. The company will provide a:
(i) Bonus amount that may be paid to the COO during the term of
this agreement.
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