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Employment Agreement

 

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Title:

Employment Agreement

Entities:

CompleTel Europe NV

Date:

2001

Size:

Preview shows 6KB of 36KB total

Price:

$39

ID:

#341404

 

 

► Employment ► Employment Agreements
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                              EMPLOYMENT AGREEMENT


This Employment Agreement (this "Agreement"), dated as of February 26,
2001, is entered into by and between CABLETEL MANAGEMENT, Inc., a Colorado
corporation with its principal offices located at 6300 S. Syracuse Way, Suite
355, Englewood, Colorado 80111 ("Company"), and TIMOTHY A. SAMPLES, a U.S.
citizen and resident of the United Kingdom ("Executive").

RECITALS

A. The Company provides management and consulting personnel to
CompleTel Europe N.V., a Netherlands public company (together with its
subsidiaries "CompleTel Europe").

B. The Company wishes to employ Executive and Executive wishes to be
employed by the Company, to be seconded to CompleTel Europe its subsidiary,
CompleTel Headquarters UK Limited or another of CompleTel Europe N.V.'s
subsidiaries as may be decided from time to time to serve in the capacity of
Managing Director and Chief Executive Officer, under the terms and conditions
contained herein.

AGREEMENT

In consideration of the rights and obligations created hereunder, the
parties agree as follows:

1. POSITIONS AND DUTIES.

(a) DUTIES. Executive's employment will begin March 1, 2001 (the
"Effective Date") and will continue until terminated as specified in Section
4 (the "Term"). During the Term, Executive shall be seconded initially to
CompleTel Headquarters UK Limited or to another company in the CompleTel
group, as may be decided from time to time, pursuant to the terms of a
Secondment Agreement, of even date herewith, to serve as its Chief Executive
Officer (the "Secondment"). At the next annual meeting of CompleTel Europe's
shareholders, Executive will be nominated to serve as a Managing Director of
CompleTel Europe. In his capacity as Managing Director and Chief Executive
Officer of CompleTel Europe and CompleTel Headquarters UK Limited,
(hereinafter sometimes collectively referred to as "CompleTel") Executive
shall have the duties, responsibilities and authority as are customarily
required of and given to a managing director and chief executive officer and
shall have such other duties and responsibilities commensurate with his
position as the Supervisory Board of CompleTel Europe (the "Supervisory
Board") shall establish. Executive shall perform his duties and
responsibilities at CompleTel Europe's offices in Western Europe. For
purposes of this Agreement, the term "employment" shall include Executive's
services during the Term to the Company or to CompleTel in any capacity.

{PAGE}

(b) REPORTING. Executive shall report to the Supervisory Board,
initially through its vice chairman, and shall perform his duties subject to
the overall policies and directions of the Supervisory Board. The Supervisory
Board, however, may elect to establish other reporting relationships in its
discretion. Executive shall devote substantially his full business time,
energy, and ability to the business of CompleTel. Executive will comply with
any time-recording and record-keeping obligations as the Company may
implement from time to time.

(c) OTHER ACTIVITIES. Executive may (i) with the prior express
authorization of the Supervisory Board, serve as a director or trustee of
other for-profit corporations or businesses that do not compete with the
present or future business of the Company or CompleTel, PROVIDED that, if the
Company or the Supervisory Board determines that a directorship is with a
competitive entity, it shall notify Executive in writing and Executive shall
have a reasonable period of time to resign such directorship, (ii) serve on
civic or charitable boards or committees, (iii) deliver lectures and fulfill
speaking engagements (and retain any fees therefrom), and (iv) manage
personal investments; PROVIDED, HOWEVER, that Executive may not engage in any
of the activities described in this Paragraph 1(c) to the extent such
activities interfere with the performance of Executive's duties under this
Agreement.

2. COMPENSATION; BONUS; BENEFITS.

(a) SALARY. For all services provided by Executive hereunder,
Executive shall receive during the Term a base annual salary of $400,000.00,
payable semimonthly in arrears. The base annual salary shall be reviewed by
the Supervisory Board as of each anniversary of the Effective Date and may be
increased upon the written recommendation of the Supervisory Board with the
Company's approval, which approval will not unreasonably be withheld. The
base salary as so increased may not be decreased.

(b) BONUSES. At each anniversary of the Effective Date, for all
services provided hereunder, Executive shall be eligible to receive a target
bonus as approved by the Supervisory Board, subject to Executive having met
performance targets established by the Supervisory Board of up to 50% of his
base annual salary. Said bonus may be increased up to an amount equal to 200%
of his base annual salary for outstanding performance upon the written
recommendation of the Supervisory Board with the Company's approval, which
approval will not unreasonably be withheld. The 50% bonus set forth
hereinabove is guaranteed to be paid by the Company to the Executive on the
first anniversary date if Executive is still employed by the Company,
seconded to CompleTel and serving as CompleTel Europe's Managing Director and

 

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