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Employment Agreement

 

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Title:

Employment Agreement

Entities:

Reliv’ International, Inc.

Date:

2008

Size:

25KB total

Price:

$33

ID:

#3285410

 

 

► Employment ► Employment Agreements
► Consumer ► Food Processing

 

 

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EMPLOYMENT AGREEMENT
 
THIS EMPLOYMENT AGREEMENT (this ?Agreement?) is made and entered into this 2nd day of January, 2008 effective for the term provided herein, by and between Reliv? International, Inc. (hereinafter referred to as the ?Company?) and Robert Scott Montgomery (hereinafter referred to as the ?Employee?).

WHEREAS, the Employee is presently, and for some time has been, employed as an executive for the Company and has contributed to the success of the Company; and

WHEREAS, the Company desires to be assured of the continued association and services of Employee and Employee desires to continue in the employment of the Company on the terms provided herein.

NOW, THEREFORE, in consideration of the continued employment or retention of Employee by the Company, Employee?s entitlement of severance upon termination of employment under Section 4.8 and the terms, covenants and conditions hereinafter contained, the parties hereto agree as follows:

1. Employment, Duties and Authority.

1.1 The Company hereby employs Employee and Employee hereby accepts employment by the Company on the terms, covenants and conditions herein contained.

1.2 The Employee is hereby employed by the Company as Executive Vice President and Chief Operating Officer. The Employee shall have such duties, responsibilities and authority as the Company shall from time to time provide.

1.3 During the term of Employee?s employment hereunder, and subject to the other provisions hereof, Employee shall devote his full energies, interest, abilities and productive time to the performance of his duties and responsibilities hereunder and will perform such duties and responsibilities faithfully and with reasonable care for the welfare of the Company.
 
1

 
2. Compensation and Benefits.

2.1 The Company shall pay to Employee during the term of employment hereunder a basic salary at the annual rate provided in Schedule A hereto. Such annual rate of salary may be changed from time to time as the parties agree and such changes shall be reflected on Schedule A when made. Such basic salary shall be paid by the Company to Employee each month, less amounts which the Company may be required to withhold from such payments by applicable federal, state or local laws or regulations.

2.2 Benefits; Expense Reimbursement.

2.2.1 The Employee shall be entitled to, and shall receive, all benefits of employment as listed on Schedule A.

2.2.2 During the term hereof, the Company shall reimburse Employee for all reasonable and necessary expenses incurred by Employee in the performance of his duties hereunder, including without limitation, travel, meals, lodging, office supplies or equipment subject to such reasonable limitations, restrictions and reporting standards as the Employee?s supervisor or the Company may from time to time establish. Employee shall provide to the Company promptly after incurring any such expenses a detailed report thereof and such information relating thereto as the Company shall from time to time require. Such information shall be sufficient to support the deductibility of all such expenses by the Company for federal income tax purposes.

3. Term.

The employment of Employee hereunder shall be for a one-year term commencing on the date of this Agreement. Upon the expiration of the initial one-year term or any one-year renewal term of Employee?s employment hereunder, the term of such employment shall be automatically renewed for an additional term of one year, unless Employee or the Company shall give notice of the termination of Employee?s employment and this Agreement by written notice to the other more than 30 days prior to the date of expiration of the initial or any renewal term. In the event that such notice of termination shall be given timely, this Agreement shall terminate on the date of expiration of such initial or renewal term.

 

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