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Title: |
Employment Agreement |
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Entities: |
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Date: |
2007 |
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Size: |
Preview shows 6KB of 30KB total |
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Price: |
$45 |
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ID: |
#2892198 |
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EMPLOYMENT AGREEMENT
This Employment Agreement ("Agreement") made as of the "Effective Date" (defined
below), by and between Utix Group, Inc. ("Utix" or the "Company"), and Steven
Apesos (the "Executive").
In consideration of the mutual covenants and promises contained herein, and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties hereto, the parties agree as follows:
I. Title
-----
The Executive's title will be Executive Vice President/Managing
Director.
II. Term of Employment
------------------
The Company hereby agrees to employ the Executive and the Executive
hereby accepts employment with the Company for a period of one (1) year
commencing on the Effective Date. At the end of the initial term, or any
additional term, this Agreement shall automatically be extended for an
additional one (1) year, unless either Executive or Company gives
written notice to the other of its desire to terminate this Agreement at
least six (6) months prior to the scheduled end of the term.
III. Responsibilities of the Executive
---------------------------------
The Executive agrees to undertake the duties and responsibilities
inherent in the position described above, those described in the
Company's By-Laws and such other duties and responsibilities as the
Company shall from time to time reasonably assign. The Executive shall
be responsible for building and managing all day-to-day business
development, marketing, payment network alliances in respect to the
Company's product and platform development in a manner to achieve
revenue and profitability goals. Executive shall lead all marketing and
sales operations staff and work closely with the President and CFO
regarding budgeting and capitalization planning with a focus on building
clear and effective measurements for strategic relationship management,
distribution / revenue forecasting and product milestones and
venue/customer satisfaction. Executive shall report directly to the
Chief Executive Officer and to the CFO regarding financial and general
operational matters. Executive shall devote his full time and best
efforts to the Company. Any outside activities must be cleared with CEO
or CFO in advance.
Summary of Responsibilities:
o Daily supervision of Utix business activities and aligned staff.
o Develop and oversee major revenue opportunities through reseller
and licensee channels and work with partners to develop
strategic accounts.
Page 1 of 9
Company Initial: _______
Executive Initial: _______
{PAGE}
o Build effective measurements that clearly show revenue
milestones are being met and manage Senior Vice President of
Sales & Marketing in order to accurately forecast revenue
opportunities.
o Actively participate in new product development and ensure all
new product, venue, platform and sales & marketing partnerships
support the strategic objectives of the company.
o Be directly responsible for the day-to-day execution of relevant
business terms and for contract negotiations with senior
executives from target partner and customer companies.
o Oversee all marketing personnel, content and messaging for sales
collateral, marketing and advertising use.
o Administrate monthly reports along with CEO and CFO to Board of
Directors, quarterly public filings and all financial community
efforts involving Investor Relations & Public Relations,
capitalization and industry speaking engagements.
o and, other responsibilities as may be reasonable assigned.
IV. Expense Reimbursement
---------------------
The Company will advance and/or reimburse the Executive for all
reasonable travel and other business expenses incurred in furthering the
business of the Company and in accordance with the Company's travel and
business expense policy. This will include reimbursement of cell phone
expenses per company policy and other customary professional expenses,
subject to CEO or CFO approval.
V. Annual Base Salary
------------------
The Executive shall receive an annual base salary of $200,000. This
salary shall be reviewed no less than annually by the Compensation
Committee of the Board; and the Board in its sole discretion, may
increase the Annual Base Salary for part or all of the remaining term.
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