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Document Preview Employment Agreement |
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Title: |
Employment Agreement |
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Date: |
2006 |
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Size: |
Preview shows 6KB of 27KB total |
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Price: |
$42 |
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ID: |
#1716979 |
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ROBERT H. RHYNE, JR.
EMPLOYMENT AGREEMENT
This Employment Agreement (this ?Agreement?) is made effective as of January 1, 2006, between Preheat, Inc. (?Preheat?), a Louisiana limited liability company that is a wholly-owned subsidiary of OMNI Energy Services Corp. (?OMNI?) and Robert H. Rhyne, Jr., a resident of St. Martin Parish, Louisiana (?Employee?). In order to protect the goodwill of Preheat and in consideration of the premises and the mutual covenants contained herein, the parties hereby agree as follows:
1. Employment. Preheat hereby agrees to employ Employee and Employee hereby agrees to work for Preheat as a Manager or such other salaried, executive position as Preheat and Employee shall mutually agree. So long as Employee is employed by Preheat, Employee shall devote Employee?s skill, energy and substantially all of his business-related efforts to the faithful discharge of Employee?s duties as a salaried, exempt employee of Preheat. In providing services hereunder, Employee shall comply with and follow all directives, policies, standards and regulations from time to time established by the Board of Directors of Preheat and OMNI.
2. Term of Employment. Employee?s employment by Preheat pursuant to this Agreement shall continue in effect until December 31, 2007 (the ?Initial Period?), which may be automatically extended at the option of Preheat for one (1) additional twelve-month period (the ?Additional Period?) commencing on January 1, 2008.
3. Representations and Warranties. Employee represents and warrants that Employee is under no contractual or other restrictions or obligations that will limit Employee?s activities on behalf of Preheat.
4. Compensation. Subject to the provisions of Section 6, Employee will be entitled to the compensation and benefits set forth in this Section 4.
(a) During the Initial Period and, if applicable, the Additional Period, Preheat shall pay Employee an Annual Base Salary, payable semi-monthly, in equal semi-monthly installments at a rate equal to $120,000.00 per year.
(b) All payments of salary and other compensation to Employee shall be made after deduction of any taxes required to be withheld with respect thereto under applicable federal and state law.
5. Fringe Benefits; Expenses.
(a) During the Employee?s term of employment, Employee shall be entitled to participate in all employee benefit plans sponsored by OMNI and made available for salaried, exempt employees, including sick leave and disability leave, health insurance and 401(k) plans.
(b) Preheat will reimburse Employee for all reasonable business expenses incurred by Employee in the scope of Employee?s employment; provided, however, that
Employee must file expense reports with respect to such expenses and otherwise comply with Preheat?s and OMNI?s policies as are in effect and are made known to Employee.
(c) During the Employee?s term of employment, Employee shall be entitled to paid vacation during each calendar year (prorated for any partial year) and to paid holidays and other paid leave set forth in and in accordance with Preheat?s and OMNI?s policies in effect for salaried, exempt employees. Any vacation not used during a calendar year may not be used during any subsequent period. Employee shall be compensated for any unused vacation upon termination of this Agreement for any reason.
6. Termination or Non-Renewal of Employment.
(a) Termination by Preheat Without Cause. Preheat may terminate Employee?s employment hereunder at any time during the term of this Agreement Without Cause by delivery of thirty (30) days prior written notice by Preheat to Employee. After such termination of employment, Preheat shall pay: (i) the Annual Base Salary then in effect in semi-monthly payments and in accordance with Preheat?s normal payroll practices for the remainder of the Initial Period if Employee is terminated during the Initial Period, and (ii) vacation pay earned during the current year but not taken to the date of such termination. Upon termination of Employee?s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with Preheat, OMNI or any Affiliate.
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