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Employment Agreement

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Title:

Employment Agreement

Entities:

Flight Safety Technologies Inc.; Samuel A. Kovnat

Date:

2004

Size:

Preview shows 3KB of 23KB total

Price:

$37

ID:

#185054

► Employment ► Function ► Employment Agreements (CEOs);
► Employment ► Function ► Employment Agreements (Chairmen)
► Capital Goods ► Aerospace

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EMPLOYMENT AGREEMENT
Between Flight Safety Technologies, Inc.
and
SAMUEL A. KOVNAT

THIS AGREEMENT made as of the 4th day of November, 2003, by and between Flight Safety Technologies, Inc., a Nevada Corporation with a principal place of business at 28 Cottrell Street, Mystic, Connecticut, 06355 (hereafter "Flight Safety" or the "Company"), and Samuel A. Kovnat (hereafter or "Employee").

RECITALS:

WHEREAS, Flight Safety is engaged in the business of designing, developing, marketing, managing and operating proprietary devices, equipment, and technologies to enhance aviation safety, increase airport capacity and reduce airport delays (the "Business");

WHEREAS, Flight Safety desires to employ Employee to provide certain services related to the development and operation of its business; and

WHEREAS, Employee desires to render such services.

NOW THEREFORE, in consideration of the mutual promises and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

Employment.

(a)

Flight Safety hereby employs Employee as its Chief Executive Officer and Chairman of its Board of Directors with principal responsibility for obtaining financing for the Company from governmental agencies and other sources, articulating the mission of the Company, coordinating its operations with the President, Chief Financial Officer, and Technical Director and carrying out such other duties as the Board of Directors of the Company from time to time may assign to him. Employee hereby accepts the appointment to serve in each capacity at Flight Safety. During the term of this agreement, Employee will be responsible to report to the Board of Directors of the Company.

(b)

The Employee hereby accepts such appointment subject to the provisions and conditions of this Agreement.

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