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Title: |
Employment Agreement |
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Date: |
2002 |
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Preview shows 8KB of 24KB total |
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Price: |
$45 |
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ID: |
#285747 |
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EMPLOYMENT AGREEMENT
This EMPLOYMENT AGREEMENT (this Agreement) is made as of this 1st day of October, 2000 (the Effective Date), by and between BioSante Pharmaceuticals, inc. (the Company) and Steve J.D. Bell (Employee).
RECITALS
WHEREAS, Employee is currently an employee of the Company, and Employee and the Company desire to memorialize the terms of Employees employment with the Company in this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Employee hereby agree as follows:
ARTICLE I
EMPLOYMENT SERVICES
1.1. Employment. The Company hereby employs Employee as vice president of research and pre-clinical development and Employee hereby accepts such employment, upon the terms and conditions of this Agreement.
1.2. Term of Employment. The term of Employees employment under this Agreement shall be for an initial period commencing on the Effective Date and ending on October 1, 2001 (the Initial Term). Following the expiration of the Initial Term, this Agreement shall automatically renew for one-year periods (each such one-year period is referred to as a Renewal Term) and continue until the earlier of (i) the Company providing Employee thirty (30) days written notice prior to the expiration of either the Initial Term or any Renewal Term of its desire to terminate this Agreement or (ii) Employee providing the Company sixty (60) days prior written notice prior to the end of either the Initial Term or any Renewal Term of his desire to terminate this Agreement. The Initial Term and any Renewal Term(s) are collectively referred to as the Employment Term. Notwithstanding the provisions of this Section 1.2, this Agreement may be terminated prior to the expiration of the Initial Term or any Renewal Term in accordance with the provisions of Section 3.1 hereof.
1.3. Activities and Duties During Employment.
(a) Employee represents and warrants to the Company that he has no other commitments or obligations of any kind to anyone else which would hinder or interfere with his acceptance of his obligations hereunder, or the exercise of his best efforts as an employee of the Company.
(b) During the Employment Term, Employee shall diligently perform such duties and responsibilities consistent with the position set forth in Section 1.1 and the Companys chief executive officer (the CEO), shall from time to time assign him.
1
Employee shall be vice president of research and pre-clinical development of the Company with responsibility as is typical for executives with a similar title in similar entities, subject to the overall control and authority of the Companys CEO and the Companys board of directors (the Board).
(c) During the Employment Term, Employee agrees to devote, on a full time basis, all of his business hours, attention and skills to the business and affairs of the Company.
ARTICLE II
COMPENSATION
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