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Employment Agreement

 

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Title:

Employment Agreement

Entities:

Access Worldwide Communications Inc.

Date:

2002

Size:

Preview shows 4KB of 21KB total

Price:

$38

ID:

#405007

 

 

► Employment ► Employment Agreements
► Services ► Business Services

 

 

Start of Preview


                              EMPLOYMENT AGREEMENT

--------------------

AGREEMENT made the 4th day of March, 2002, by and between Access
Worldwide Communications Inc., a Delaware corporation (the "Company"), and Lee
Edelstein (the "Employee").

W I T N E S S E T H
- - - - - - - - - -

WHEREAS, the Company wishes to assure itself of the services of the
Employee, and the Employee wishes to serve in the employ of the Company, upon
the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the premises and the mutual
agreements hereinafter set forth, the parties hereto, intending to be legally
bound, hereby agree as follows:

1. Employment, Term. The Company hereby employs the Employee on the terms
----------------
hereinafter set forth for a period of two (2) years from the date first above
written, unless sooner terminated in accordance with this Employment Agreement
("Agreement").

2. Position, Duties. The Employee shall serve the Company as President of
----------------
the TMS Professional Markets Group subsidiary of the Company. The Employee shall
perform his duties and responsibilities hereunder faithfully and diligently. The
Employee shall devote such time to the performance of his duties and
responsibilities hereunder as will, when added to time spent as an independent
consultant for the Company (if any), total four (4) days per week. The Employee
hereby represents that he is not bound by any confidentiality agreements or
restrictive covenants which restrict or may restrict his ability to perform his
duties hereunder, and agrees that he will not enter into any such agreements or
covenants during the term of his employment hereunder, except such restrictive
covenants or confidentiality agreements which are required by the Company.

3. Compensation.
------------

3.1 Base Salary. During the term of this Agreement, in consideration
-----------
of the performance by the Employee of the services set forth in Section 2 and
his observance of the other covenants set forth herein, the Company shall pay
the Employee, and the Employee shall accept, a base salary at the rate of
$100,000 per annum, payable in accordance with the standard payroll practices of
the Company. In addition to the base salary payable hereunder, the Employee may
be entitled to receive merit increases in salary during the term hereof in such
amount and at such times as shall be reasonably determined by the CEO or the
Board of Directors of the Company. In no event shall the failure to grant any
such increase (or the amount of any such increase) give rise to a claim by the
Employee under this Agreement.

3.2. Bonus. The Employee shall be eligible to receive an annual bonus,
-----
in the discretion of the Board of Directors of the Company.

4. Expense Reimbursement. During the term of the Employee's employment by
---------------------
the Company pursuant to this Agreement, consistent with the Company's policies
and procedures as may be in effect from time to time, the Company shall

 

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