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Title: |
Employment Agreement |
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Date: |
2006 |
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Preview shows 5KB of 108KB total |
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Price: |
$47 |
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ID: |
#2633681 |
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BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.
EMPLOYMENT AGREEMENT
WITH
DR. OREN BECKER
AGREEMENT dated as of October 31, 2000, between Dr. Oren Becker (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 Technology Officer ("CTO") with duties as set
forth in Section 2 below; and
WHEREAS the Employee represents he 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 CTO to be
responsible for the following: (i) the technological aspect of the
Company's research and development; (ii) preparation and demonstration of
scientific presentations and as otherwise may be determined by the
Company; (iii) assist and support the management and operation 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.
(b) In addition to the discharge of his Duties hereunder in the premises
of the Company, Employee shall make his 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
{PAGE}
the Company, Employee shall discharge his 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 Company, and shall perform his Duties
diligently and promptly for the benefit of Company, strictly and
faithfully upholding the Company's policies. During his engagement
hereunder, Employee shall not, without prior written consent of the board
of directors, undertake or accept any other paid or unpaid employment,
occupation of 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-minimus 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."
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