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Title: |
Employment Agreement |
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Date: |
2006 |
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Size: |
Preview shows 4KB of 106KB total |
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Price: |
$42 |
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ID: |
#2612333 |
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BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.
EMPLOYMENT AGREEMENT
WITH
DR. SILVIA NOIMAN
AGREEMENT dated as of October 31, 2000, between Dr. Silvia Noiman (the
"EMPLOYEE"), whose address is [ADDRESS], and BIO-I.T. (BIO INFORMATION
TECHNOLOGIES) LTD. (the "COMPANY"), a corporation incorporated under the laws of
the State of Israel, having its address at 12A Kibush Ha'voda Street,
Hertzeliya, Israel.
WITNESSETH
WHEREAS the Employee is a Co-Founder of the Company, and the Company desires to
employ the Employee as its Chief Operating Officer ("COO") with duties as set
forth in Section 2 below; and
WHEREAS the Employee represents she has the desired skills and knowledge to
serve in such positions.
NOW THEREFORE, in consideration of the premises and mutual agreements
hereinafter contained, the parties hereto agree as follows:
1. Employment
From the Effective Date (as defined in Section 3), the Company hereby employs
Employee and Employee accepts employment with Company upon the conditions set
forth herein.
2. Duties
(a) The Company hereby engages Employee to serve as its COO to be
responsible for the following: (i) the Company's operational aspects; (ii)
assist and support the Company's research and development activities; (iii)
assist in the management of the Company's business and development; and (iv) to
perform other tasks, as shall be determined, from time to time by the Company's
board of directors (the "DUTIES"). During the term hereof, Employee shall report
to the Company's CEO.
(b) In addition to the discharge of her Duties hereunder in the premises
of the Company, Employee shall make her services hereunder available by
telephone during normal business hours, and at such times or at such other
places as may mutually be agreed upon between the Company and the Employee.
Without derogating from the foregoing, at the request and pursuant to the
instructions of the Company, Employee shall discharge her Duties and/or perform
any specific task hereunder outside of Israel.
(c) Employee shall provide the services hereunder on a full-time basis and
shall devote all necessary time and attention to the furtherance of the business
and interests of the
{PAGE}
Company, and shall perform her Duties diligently and promptly for the benefit of
Company, strictly and faithfully upholding the Company's policies. During her
engagement hereunder, Employee shall not, without prior written consent of the
board of directors, undertake or accept any other paid or unpaid employment,
occupation or services as a consultant or otherwise, or engage in or be
associated with, directly or indirectly, any other businesses, duties or
pursuits, including without limitation, any academic occupation except for
strictly de-minimis non-commercial or non-business activities, which do not
affect the adequate performance of the Employee's obligations hereunder.
3. Term
(a) The Employee's employment under this Agreement shall commence
immediately after the Closing of the Company's 1st Round of Financing (as
defined in the Founders Agreement to which this Agreement constitutes a
schedule) (the "EFFECTIVE DATE") and shall end on the earliest of (i) the death
or disability (as defined herein) of the Employee, (ii) the termination of
Employee's services by Company for Cause (as defined herein); or (iii) four (4)
years from the Effective Date, unless earlier terminated without cause by either
party on sixty (60) days prior written notice to the other (the "INITIAL TERM").
This Agreement may be extended by the mutual written consent of the parties. Any
period of extension shall be referred to as an "EXTENDED TERM".
(b) For the purpose of this Section 3, "DISABILITY" shall mean any
physical or mental illness or injury as a result of which the Employee remains
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