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Title: |
Employment Agreement |
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Entities: |
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Date: |
2001 |
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Size: |
Preview shows 5KB of 32KB total |
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Price: |
$35 |
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ID: |
#999924 |
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EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT dated as of January 1, 2000 (the "Effective Date") between
Kupper Parker Communications Inc., a New York corporation (the "Company"), and
Bruce Kupper (the "Executive").
WHEREAS, the Company is a global communications holding company with ownership
interests in subsidiaries and affiliates that are engaged in the advertising
agency business, the multimedia production business, the business of planning
and buying of media time and space and related businesses (the Company and the
subsidiaries, affiliates and joint ventures in which it from time to time has
equity interests are hereinafter referred to collectively as the "Kupper Parker
Group");
WHEREAS, the Company and the Executive desire to enter into this Agreement to
provide for the employment of the Executive by the Company as its Chairman and
Chief Executive Officer, upon the terms and subject to the conditions set forth
herein.
NOW, THEREFORE, in consideration of the premises and the mutual agreements
contained herein, the parties hereby agree as follows:
1. Employment. The Company hereby employs the Executive and the Executive
hereby agrees to be employed by the Company upon the terms and subject
to the conditions contained in this Agreement. The initial term of
employment of the Executive by the Company pursuant to this Agreement
(the "Initial Term") shall commence on the Effective Date and, unless
earlier terminated, shall end on the second annual anniversary of the
Effective Date; provided that the term of this Agreement shall
automatically be extended for two additional years as of the day
immediately following the end of the Initial Term and as of the day
immediately following the end of each subsequent two-year extended
term hereof unless the Company shall have terminated the automatic
extension provisions of this sentence by giving written notice to the
Executive at least 30 days prior to the then applicable termination
date. (The Initial Term and any extension of the term of this
Agreement pursuant to this Section 1 are collectively referred to
herein as the "Employment Period.").
2. Position and Duties. The Company shall employ the Executive during the
Employment Period with the title of Chairman and Chief Executive
Officer. The Executive shall also serve as a member of the Company's
Board of Directors (the "Board") (subject to continued election by the
Company's stockholders). The Executive shall report directly to the
Board. Subject to the powers, authority and responsibilities vested in
the Board and in duly constituted committees of the Board, the
Executive shall have the authority, duties and responsibilities
commensurate with his position and title as the principal executive
officer of the Company and such other duties and responsibilities (not
inconsistent with his
<PAGE> 2
position) as are reasonably assigned to him from time to time by the
Board or any committee thereof. During the Employment Period, the
Executive shall perform faithfully and loyally and to the best of the
Executive's abilities his duties hereunder, shall devote his full
business time, attention and efforts to the affairs of the Kupper
Parker Group and shall use his reasonable best efforts to promote the
interests of the Company. Notwithstanding the foregoing, the Executive
may engage in charitable, civic or community activities, provided that
they do not interfere with the performance of the Executive's duties
hereunder, and, with the prior approval of the Board, may serve as a
director of any business corporation; provided that such service does
not violate the terms of any of the covenants contained in Section 8
hereof.
3. Compensation.
Annual Base Salary. During the Employment Period, the Company
shall pay to the Executive an annual base salary at the rate
of $360,000 per annum in accordance with the Company's regular
payroll practices. During the term of this Agreement, the Base
Compensation shall be increased by an amount equal to four
percent (4%) of existing Base Compensation at the end of each
year of employment.
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