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Document Preview Executive Employment Agreement |
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Title: |
Executive Employment Agreement |
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Entities: |
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Date: |
2002 |
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Size: |
Preview shows 3KB of 15KB total |
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Price: |
$35 |
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ID: |
#281063 |
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THIS EXECUTIVE EMPLOYMENT AGREEMENT
is dated for reference the 1st day of February, 2002.BETWEEN:
IMMUNE NETWORK LTD., having an office at 3650 Wesbrook Mall, Vancouver, British Columbia, V6S 2L2
(the "Company")
AND:
ALLEN BAIN, of 2039 MacDonald Street, Vancouver, British Columbia, V6S 2L2
(the "Executive")
WHEREAS:
A. the Executive is currently the Company's President and Chief Executive Officer;
B. the Company and its Board of Directors recognizes that the Executive's contribution to the growth and success of the Company has been substantial and desires to assure the Company of Executive's continued employment in an executive capacity and to compensate him therefor; and
C. the Company and the Executive wish to enter into this Agreement to record the terms and conditions of the Executive's continued employment with the Company;
THIS AGREEMENT WITNESSES
that in consideration of the mutual covenants herein, the parties have agreed as follows:1. EMPLOYMENT
1.1 The Company and the Executive agree that the Executive's employment with the Company will be governed by the terms and conditions of this Agreement.
1.2 The Executive shall well and faithfully serve the Company and use his best efforts to promote the interests of the Company during the term and any renewal of this Agreement. The Executive will provide the Company with the services outlined in Schedule A hereto, subject always to the control and direction of the Company's board of directors (the "Board").
2. TERM
2.1 The term of this Agreement will be as specified in Schedule A hereto.
2.2 In this Agreement, references to "Year" mean each 12 month period commencing from the Start Date and each anniversary of the Start Date.
3. REMUNERATION, ETC.
3.1 The Executive's remuneration will be as specified in Schedule A hereto.
3.2 The Executive's vacation entitlement will be as specified in Schedule A hereto.
3.3 The Executive shall be entitled to participate in any medical reimbursement, insurance or other employee benefit plan as may be in effect from time to time subject to the participation standards and other terms thereof. The Executive shall not have any cash entitlement with respect to benefits the Executive has chosen not to receive.
3.4 The Company shall reimburse the Executive for all reasonable and pre-agreed expenses incurred by the Executive in furtherance of the Company's business. The Executive shall, to the greatest extent possible, submit statements and vouchers for all expenses claimed. The Executive acknowledges that the Company will only reimburse those expenses that the Company considers reasonable or to which the Company has granted prior authorization.
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