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Title: |
Employment Agreement |
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Entities: |
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Date: |
2002 |
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Size: |
Preview shows 4KB of 28KB total |
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Price: |
$41 |
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ID: |
#855813 |
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EMPLOYMENT AGREEMENT
This Employment Agreement (the "Agreement") is made as of the 18th day of December, 2001, by and between Moto Photo, Inc., a Delaware corporation ("Employer"), and Paul Pieschel ("Employee"). This Agreement is based on the following considerations:
a. Employee has been acting as Employer's Senior Vice President of Franchise Sales pursuant to an Employment Agreement dated April 1, 1999 ("the 1999 Agreement"). The parties desire to change the terms of Employee's employment and enter into an employment relationship on the terms and conditions set forth in this Agreement.
b. During the term of his employment, Employee will receive access to proprietary information and/or trade secrets relating to Employer's business, its franchisees, and its business contacts that are of a highly confidential, unique, and valuable nature. In addition, Employee may be adding to the confidential information of Employer.
c. The parties acknowledge that Employer would suffer great loss and damage if any Confidential Information (as defined in Section 11 of this Agreement) is divulged at any time other than for the benefit of Employer.
d. The parties further acknowledge that Employee may establish close working relationships with valued employees of Employer or its franchisees and that Employer's business may suffer substantial harm if, at any time, Employee employs or attempts to employ, directly or indirectly, certain employees of Employer or its franchisees.
Accordingly, the parties agree as follows:
1. Prior Agreements Cancelled. This Agreement shall supersede any prior employment or compensation agreements between Employer and Employee, and all such agreements shall be deemed cancelled and of no further force or effect (except as provided in this Section 1) as of the Effective Date (as such term is defined in Section 3 of this Agreement) of this Agreement. Notwithstanding the foregoing, Employee's obligations under Section 5 of the 1999 Agreement and both parties' obligations under Section 15 of the 1999 Agreement, shall survive cancellation of the 1999 Agreement. Employee specifically acknowledges and agrees that Section 3.3 of the 1999 Agreement, and its corresponding provision(s) in any earlier employment agreement(s) between Employer and Employee, have been cancelled in consideration for the payment of Thirty-Three Thousand Dollars ($33,000) to Employee by Employer. This amount will be paid to Employee on the next regular paycheck following execution of this Agreement.
2. Duties. Employer employs Employee, for the term of this Agreement, as Senior Vice President of Franchise Sales. Employee accepts such employment upon the terms and conditions specified in this Agreement. During the term of his employment with Employer, Employee shall report to the Chief Executive Officer of Employer (or such other executive as the Chief Executive Officer may direct) and shall have the following duties:
2.1 Employee shall serve as head of Employer's Franchise Development Department and shall direct staff in the Franchise Development Department. Employee shall have only limited, if any, responsibility for preparation for, or participation in, any franchisee convention, it being the intent of both parties that Employee have no such responsibility absent unusual circumstances.
2.2 Employee shall have responsibility for franchise sales and for devising programs to increase the number of new franchises sold and/or franchise transfers effected within the MotoPhoto(R) system ("the System"). Employee shall also have responsibility for the sale of Employer-owned stores.
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