EMPLOYMENT AGREEMENT By and Between GRUBB & ELLIS COMPANY and FRANCES P. LEWIS As of April 1, 2006
Exhibit 10.17
By and Between
▇▇▇▇▇ & ▇▇▇▇▇ COMPANY
and
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
As of April 1, 2006
EMPLOYMENT AGREEMENT (this “Agreement”) effective as of April 1, 2006 (the “Effective
Date”), by and between ▇▇▇▇▇ & ▇▇▇▇▇ COMPANY, a Delaware corporation having an address at ▇▇▇ ▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (the “Company”), and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, an
individual having an address at ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
(“Executive”).
W I T N E S S E T H:
WHEREAS, the Company desires to employ Executive and Executive desires to provide her
exclusive services to the Company in connection with the Company’s business; and
WHEREAS, both parties desire to clarify and specify the rights and obligations which each have
with respect to the other in connection with Executive’s employment.
NOW, THEREFORE, in consideration of the agreements and covenants herein set forth, the parties
hereby agree as follows:
1. Employment
The Company hereby employs Executive as Senior Vice President, Marketing and Corporate
Communications, and Executive hereby accepts such exclusive employment and agrees to render
Executive’s exclusive services as an employee of the Company, all subject to and on the terms and
conditions herein set forth.
2. Duties and Responsibilities of Executive
Executive shall be exclusively employed as the Company’s Senior Vice President, Marketing and
Corporate Communications, and Executive agrees to provide Executive’s exclusive services to the
Company, subject to the other provisions of this Section 2. Executive’s responsibilities and
duties shall be commensurate with those of a similarly situated officer of an entity engaged in the
business engaged, or proposed to be engaged, in by the Company. In the performance of her duties,
Executive shall initially report to the Company’s Chief Executive Officer, and thereafter may
report to such officer of the Company as so directed by the Board of Directors. Executive shall
use her best efforts to maintain and enhance the business and reputation of the Company and shall
perform such other duties commensurate with Executive’s position as may, from time to time, be
designated to Executive by the Company’s Chief Executive Officer. Executive shall be available to
travel as the reasonable needs of the Company shall require. Executive’s principal place of
employment shall be the Chicago, Illinois metropolitan area. Nothing contained in this Section
2 shall limit Executive’s right to engage in charitable activities or industry activities
provided the same do not materially effect the performance of Executive’s responsibilities
hereunder.
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3. Compensation
(a) In consideration for Executive’s services to be performed under this Agreement and as
compensation therefor, Executive shall receive, in addition to all other benefits provided for in
this Agreement, a base salary (the “Base Salary”) at a rate of Two Hundred Thousand Dollars
($200,000) per annum. All payments of Base Salary shall be subject to all applicable withholdings
and deductions, and shall be payable in accordance with the Company’s customary payroll practices.
The Base Salary shall be subject to annual review by the Compensation Committee of the Board (the
“Compensation Committee”).
(b) In addition to the Base Salary, Executive shall be eligible to receive annual bonus
compensation (“Bonus Compensation”) based upon a bonus plan and formula to be established
each year during the Term hereof (as defined in Section 5 below) by the Compensation
Committee. The Bonus Compensation plan to be established each year by the Compensation Committee
shall be designed to take into account both the performance of the Executive and the Company. The
Bonus Compensation plan for Executive shall provide for up to thirty percent (30%) of the Base
Salary, upon such terms and conditions as determined from time to time by the Compensation
Committee of the Board. All Bonus Compensation shall be payable in accordance with the procedures
established from time to time by the Compensation Committee, subject to all applicable withholding
and deductions, and in accordance with the Company’s customary payroll and bonus payment practices.
(c) Executive shall be entitled to participate in the Company’s performance-based Long Term
Incentive Plan (the “Incentive Plan”) in an amount equal to up to sixty-five percent (65)% of
Executive’s Base Salary, and such participation shall be with respect to the Company’s Incentive
Plan commencing as of January 1, 2005, and with respect to any performance period commencing in
such calendar year or thereafter, provided that Executive’s participation in such Incentive Plan
(and his compensation in respect thereof) shall only be for the actual time periods during which
Executive was actually employed by the Company. All compensation payable pursuant to the Incentive
Plan shall be payable in accordance with the procedures established from time to time by the
Compensation Committee, subject to applicable withholdings and deductions, and in accordance with
the Company’s customary payroll and bonus payment practices.
4. Benefits
(a) In addition to the Base Salary, the Bonus Compensation, and the Incentive Plan, as
provided for in Section 3 hereof, Executive shall be entitled to the benefits and other
arrangements, including, but not limited to, annual vacation (collectively, “Benefits”), consistent
with those Benefits previously provided to Executive by the Company immediately prior to the
execution hereof; provided, that, subsequent to the execution hereof, the Benefits are made
available at the absolute and sole discretion of the Company and nothing in this Agreement
establishes any right of the Executive to the availability or continuance of any such plan or
arrangement.
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(b) Executive shall be entitled to reimbursement for all reasonable travel, entertainment and
other reasonable expenses incurred in connection with the Company’s business, provided that
such expenses are (i) pre-approved by the Company if not in accordance with the Company’s policies,
and (ii) adequately documented and vouchered in accordance with the Company’s policies.
5. Term of Employment
The term of Executive’s employment hereunder shall commence on the Effective Date and shall
terminate on the date immediately preceding the three (3) year anniversary thereof, or such earlier
time in accordance with Section 8 hereof (the “Term”). The Term may be extended beyond the
period provided for in the immediately preceding sentence upon the mutual written agreement of the
parties hereto.
6. Confidentiality
(a) Executive agrees and covenants that, at any time during which Executive is employed by the
Company (which, for purpose of this Section 6 shall include the Company’s subsidiaries and
affiliates) or thereafter, Executive will not (without first obtaining the express permission of
the Company) (i) divulge to any individual, partnership, corporation (including a business trust),
limited liability company, joint stock company, trust, unincorporated association, joint venture,
or other entity, or a government or any political subdivision or agency thereof (“Person”), or use
(either by Executive or in connection with any business), any “Confidential Information” (as
hereinafter defined in Section 6(c) hereof) or (ii) divulge to any Person, or use (either
by Executive or in connection with any business), any “Trade Secrets” (as hereinafter defined in
Section 6(c) hereof) to which Executive may have had access or which had been revealed to
Executive during the course of Executive’s employment, unless such disclosure is pursuant to a
court order, disclosure in litigation involving the Company or in any reports or applications
required by law to be filed with any governmental agency, but only after at least ten (10) days
prior written consultation with the Company.
(b) Any interest in patents, patent applications, inventions, copyrights, developments,
innovations, methods, processes, analyses, drawings, and reports (collectively,
“Inventions”) which Executive may develop during the period Executive is employed under
this Agreement (either during regular business hours or otherwise) relating to the fields in which
the Company may then be engaged shall belong to the Company; and Executive shall disclose the
Inventions to the Company and forthwith upon request of the Company, Executive shall execute all
such assignments and other documents and take all such other action as the Company may reasonably
request in order to vest in the Company all right, title, and interest in and to the Inventions
free and clear of all liens, charges, and encumbrances.
(c) As used in this Agreement, the term “Confidential Information” shall mean and
include all information and data in respect of the Company’s (including its subsidiaries’ and
affiliates’) operations, financial condition, products, customers and business (including, without
limitation, artwork, photographs, specifications, facsimiles, samples, business, marketing or
promotional plans, creative written material and information relating to characters, concepts,
names, trademarks, tradenames, tradedress and copyrights) which may be
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communicated to
Executive or to which Executive may have access in the course of Executive’s employment by the
Company. Notwithstanding the foregoing, the term “Confidential Information” shall not include
information which:
| (i) | is, at the time of the disclosure, a part of the public domain through no act or omission by Executive; or | ||
| (ii) | is hereafter lawfully disclosed to Executive by a third party who or which did not acquire the information under an obligation of confidentiality to or through the Company. |
As used in this Agreement, the term “Trade Secrets” shall mean and include
information, without regard to form, including, but not limited to, technical or non-technical
data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a
process, financial data, financial plans, product plans, or a list of actual or potential customers
or suppliers which is not commonly known by or available to the public and which information (i)
derives economic value, actual or potential, from not being known to, and not being readily
ascertainable by proper means by, other persons who can obtain economic value from its disclosure
or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain
its secrecy. In addition, the term “trade secrets” includes all information protectible as “trade
secrets” under applicable law.
Nothing in this Section 6 shall limit any protection, definition or remedy provided to
the Company under any law, statute or legal principle relating to Confidential Information or Trade
Secrets.
(d) Executive agrees that at the time of leaving the employ of the Company Executive will
deliver to the Company and not keep or deliver to anyone else any and all notes, notebooks,
drawings, memoranda, documents, and in general, any and all material relating to the business of
the Company (except Executive’s personal files and records) or relating to any employee, officer,
director, agent or representative of the Company.
7. Restrictive Covenants
(a) Non-Competition
Executive hereby agrees and covenants that during the period (“Non-Compete Period”) beginning
with the initial commencement of Executive’s employment with the Company (including subsidiaries or
affiliates) and ending on the last day of Executive’s employment with the Company, Executive will
not, directly or indirectly, engage in or become interested (whether as an owner, principal, agent,
stockholder, member, partner, trustee, venturer, lender or other investor, director, officer,
employee, consultant or through the agency of any person or entity otherwise in any business or
enterprise that at any time during the Non-Compete Period shall be in whole or in substantial part
competitive with any material part of the business conducted by the Company (which, for purposes of
this Section 7 shall include the Company’s subsidiaries and affiliates;
except that ownership of not more than 1% of the outstanding securities of any class of
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any
entity that are listed on a national securities exchange or traded in the over-the-counter market
shall not be considered a breach of this Section 7(a).
(b) No-Raid
Executive agrees and covenants that for the period commencing on the date hereof and ending
one (1) year following the termination of Executive’s employment with the Company (the “Limited
Period”), Executive will not (without first obtaining the written permission of the Company),
directly or indirectly, divert or attempt to divert from the Company any business of any kind in
which the Company or its subsidiaries or affiliates is engaged or is seeking to be engaged.
(c) Non-Solicitation
Executive agrees and covenants that during the Limited Period, Executive will not (without
first obtaining the written permission of the Company), on her own behalf or on behalf of any third
party, directly or indirectly, recruit any then current employee, consultant or independent
contractor of the Company, or any individual who has served in any such capacity at any time six
(6) months prior thereto, for employment or any other relationship (including but not limited to an
independent contractor), or induce or seek to cause such person to terminate his or her employment
or independent contractor arrangement with the Company. As used in Sections 7(a), 7(b) and 7(c)
hereof, all references to the Company includes the Company’s subsidiaries and affiliates.
(d) Nondisparagement
Each of the Company and Executive agree that upon inquiry from any third party regarding the
termination of Executive’s employment with the Company, if termination is for reasons other than
for Cause, such third party shall be advised that Executive has decided to pursue other
opportunities. Each of the Company and Executive represents and agrees that each will not in any
way disparage the other (and with respect to the Company, Executive’s agreement hereunder shall
also apply to the Company’s current, former and future officers and directors), or make any
comments, statements, or communications to the media or to any other third party that may be
considered to be derogatory or detrimental to the good name or business reputation of any of the
aforementioned parties or entities. Executive agrees that she shall direct all third party
inquiries regarding Executive’s employment with the Company to the Company’s Senior Vice President
of Human Resources.
(e) Indemnification
Executive shall be indemnified by the Company in accordance with the Company’s Bylaws, as same
may be amended from time to time.
(f) Cooperation by Employee
With respect to any litigation, arbitration, mediation, administrative hearing, or any other
dispute resolution process to which the Company is a party or which Executive is a witness at
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any
time during or after the expiration of the Term of this Agreement, Executive agrees to fully
cooperate fully with the Company, its attorneys and agents, with respect to any process including
but not limited to, interviews, depositions, preparation for testimony, and testifying or otherwise
providing evidence at no out of pocket cost to Executive. Executive shall be indemnified by the
Company in connection with Executive’s activities pursuant to this Section 7(f), and the provisions
of this Section 7(f) shall survive the expiration or termination of this Agreement.
8. Termination
The following termination provisions and benefits are in lieu of the benefits available under
the Company’s written policies and procedures, as amended, and the Company’s Executive Change of
Control Plan, as amended and the Company’s Executive Incentive Bonus and Severance Plan, as
amended. Executive agrees that her termination provisions shall not be governed by such policies
and plans.
(a) Cause. Notwithstanding the terms of this Agreement, the Company may discharge Executive
and terminate this Agreement for cause (“Cause”) in the event (i) of Executive’s willful
and repeated refusal, to materially perform her duties hereunder with reasonable diligence, or to
follow a lawful directive of the Board commensurate with the Executive’s position, in each such
case, after specific written notice and a reasonable opportunity to cure (other than a failure or
refusal resulting from Executive’s incapacity), (ii) Executive’s commission of an act involving
fraud, embezzlement, or theft against the property or personnel of the Company, (iii) Executive’s
engagement in gross reckless conduct that the Company in good faith reasonably determines will have
a material adverse affect on the reputation, business, assets, properties, results of operations or
financial condition of the Company, (iv) Executive shall be convicted of a felony or shall plead
nolo contendere in respect thereof, or (v) Executive engages in any other criminal
conduct or act of moral turpitude that is injurious to the Company. As used in this section, the
Company includes the Company’s subsidiaries and affiliates. In the event Executive is discharged
pursuant to this Section 8(a), (i) Executive’s Base Salary, Bonus Compensation,
participation in the Incentive Plan and all benefits under Section 4 hereof shall terminate
immediately upon such discharge (subject to applicable law, such as pursuant to the applicable
provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), and (ii) the Company
shall have no further obligations to Executive except for payment and reimbursement to Executive
for any monies due to Executive which right to payment or reimbursement accrued prior to such
discharge.
(b) Incapacity. Should Executive become incapacitated to the extent that Executive is unable
to perform Executive’s duties pursuant to this Agreement for a period of more than one hundred
twenty (120) days (consecutive or non-consecutive) in any twelve (12) month period by reason of
illness, disability or other incapacity, the Company may, subject to the requirements of applicable
law, terminate this Agreement upon one month’s written notice at any time after said one hundred
twenty (120) day period and the Company shall have no further obligations to Executive or her legal
representatives except for payment and reimbursement to
Executive or her legal representatives for any monies due to Executive which right to payment
or reimbursement accrued prior to such discharge.
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(c) Death. This Agreement shall terminate immediately upon the death of Executive, in which
case the Company shall have no further obligations to Executive or her legal representatives except
for payment and reimbursement to Executive or her legal representatives for any monies due to
Executive which right to payment or reimbursement accrued prior to Executive’s death.
(d) Termination Without Cause. The Company may terminate Executive’s employment with the
Company without Cause (as defined in Section 8(a) above), for any reason at any time, upon
written notice to Executive, whereupon the Executive shall be entitled to receive (i) all monies
due to Executive which right to payment or reimbursement accrued prior to such discharge, and (ii)
Base Salary in accordance with the Company’s customary payroll practices for a period of twelve
(12) months following the date of such termination and (iii) an amount, payable monthly, equal to
the Executive’s monthly COBRA payments, increased to compensate for any amount withheld by the
Company due to federal and state tax withholding requirements until the earlier of (A) twelve (12)
months from the termination date or (B) the Executive obtains health coverage from another source.
The Company’s payment of any amounts to Executive upon the termination of Executive’s employment
without Cause is expressly subject to and contingent upon Executive executing and delivering to the
Company at the time of such termination the Company’s then standard form of release.
(e) Termination by the Executive for Good Reason. The Executive may terminate her employment
under this Agreement at any time for Good Reason by giving written notice to the Company. For
purposes of this Section 8(e), “Good Reason” shall mean: (i) a material breach of this
Agreement by the Company that is not cured within thirty (30) days after written notice of the
breach has been given to the Company by the Executive; or (ii) Executive is required to permanently
relocate from the Chicago metropolitan area. In the event of a termination by Executive for Good
Reason, Executive shall be entitled to receive (i) all monies due to Executive which right to
payment or reimbursement accrued prior to such discharge, and (ii) Base Salary in accordance with
the Company’s customary payroll practices for a period of twelve (12) months following the date of
such termination. The Company’s payment of any amounts to Executive upon Executive’s termination
for Good Reason is expressly subject to and contingent upon Executive executing and delivering to
the Company at the time of Executive’s termination for Good Reason the Company’s then standard form
of release.
(f) Termination Pursuant to a Change of Control. In the event that (i) the Executive is
terminated by the Company without Cause, or Executive terminates the agreement for “Good Reason”
(as defined in Section 8(e) above, but subject to the modification set forth in the
immediately following sentence), within nine (9) months after a “Change in Control” (as defined
below), or (ii) the Executive is terminated by the Company without Cause, or the Executive
terminates the agreement for Good Reason, six (6) months prior to a Change in Control and in
connection with or contemplation of a Change in Control by the Company, the Executive shall be
entitled to receive (i) all monies due to Executive which right to payment or reimbursement accrued
prior to such discharge, (ii) the Executive’s Base Salary paid ratably over
a period of twelve (12) months following the date of such
7
termination in accordance with the
Company’s customary payroll practices, and (iii) the Executive’s “Applicable Bonus” (as defined
below) paid ratably over a period of twelve (12) months following the date of such termination in
accordance with the Company’s customary payroll practices. The Company’s payment of any amounts to
Executive upon Executive’s termination upon a Change in Control is expressly subject to and
contingent upon Executive executing and delivering to the Company at the time of such termination
the Company’s then standard form of release.
For purposes of this Agreement, the term “Change of Control” shall mean any of the following:
(a) a transaction or series of transactions which results in the stockholders of Company,
immediately prior to any such transaction or series of transactions, failing to beneficially own,
immediately after the effective time of such transaction, securities of Company representing more
than fifty percent (50%) of the combined voting power of Company’s then outstanding securities
necessary to elect a majority of the Company’s directors, (b) Company shall in one transaction or a
series of transactions effect a merger, consolidation, or exchange of its securities with any other
entity which results in the stockholders of Company immediately before the effective time of such
transaction failing to beneficially own, immediately after the effective time of such transaction,
securities representing more than fifty percent (50%) of the combined voting power of the merged,
combined or new entity’s outstanding securities necessary to elect a majority of the directors of
the merged, combined or new entity, or (c) any person or entity, or persons or entities, acquires
in a transaction or series of transactions, substantially all the assets of the Company.
For purposes of this Agreement, the term “Applicable Bonus” shall mean (i) if the Change in
Control occurs on or before, or as of, December 31, 2006, the cash bonus paid (or earned, if earned
but not actually paid in full) pursuant to the Bonus Compensation payable pursuant to Section 3(b)
above, (ii) if the Change in Control occurs subsequent to (and not as of) December 31, 2006, the
average of the cash bonuses paid (or earned, if earned but not actually paid in full) to Executive
during the immediately preceding two (2) years; and (iii) if the Change in Control occurs
subsequent to (and not as of) December 31, 2007, the average of the cash bonuses paid (or earned,
if earned but not actually paid in full) to Executive during the immediately preceding three (3)
years.
(g) Exclusivity of Severance Provisions
The Change in Control payment contemplated in Section 8(f) and the Severance payment
contemplated in Section 8(d) or Section 8(e), are mutually exclusive (i.e. Executive may be
entitled to one or the other, but not both).
9. Specific Performance; Damages
In the event of a breach or threatened breach of the provisions of Section 6 or
Section 7 hereof, Executive agrees that the injury which could be suffered by the Company
(which for purposes of this Section 9 shall include the Company’s successor-in-interest,
subsidiaries and affiliates) would be of a character which could not be fully compensated for
solely by a recovery of monetary damages. Accordingly, Executive agrees that in the event of a
breach or threatened
breach of Section 6 or Section 7 hereof, in addition to and not in lieu of any
damages sustained by the Company and any other remedies which the Company may pursue hereunder or
under any applicable law, the Company shall have the right to equitable relief, including but not
limited to the issuance of a temporary or permanent injunction or restraining order, by any court
of
8
competent jurisdiction against the commission or continuance of any such breach or threatened
breach, without the necessity of proving any actual damages. In addition to, and not in limitation
of the foregoing, Executive understands and confirms that, in the event of a breach or threatened
breach of Section 6 or Section 7 hereof, Executive may be held financially liable
to the Company for any loss suffered by the Company as a result.
10. Notices
Any and all notices, demands or requests required or permitted to be given under this
Agreement shall be given in writing and sent, by registered or certified U.S. mail, return receipt
requested, by hand, or by overnight courier, addressed to the parties hereto at their addresses set
forth above or such other addresses as they may from time-to-time designate by written notice,
given in accordance with the terms of this Section, together with copies thereof as follows:
In the case of the Company, with a copy simultaneously by like means, to:
▇▇▇▇▇ & ▇▇▇▇▇ Company
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: Chief Executive Officer
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: Chief Executive Officer
Notice given as provided in this Section shall be deemed effective: (i) on the date hand
delivered, (ii) on the first business day following the sending thereof by overnight courier, and
(iii) on the seventh calendar day (or, if it is not a business day, then the next succeeding
business day thereafter) after the depositing thereof into the exclusive custody of the U.S. Postal
Service.
11. Waivers
No waiver by any party of any default with respect to any provision, condition or requirement
hereof shall be deemed to be a waiver of any other provision, condition or requirement hereof; nor
shall any delay or omission of any party to exercise any right hereunder in any manner impair the
exercise of any such right accruing to it thereafter.
12. Preservation of Intent
Should any provision of this Agreement be determined by a court having jurisdiction in the
premises to be illegal or in conflict with any laws of any state or jurisdiction or otherwise
unenforceable, the Company and Executive agree that such provision shall be modified to the extent
legally possible so that the intent of this Agreement may be legally carried out.
13. Entire Agreement
This Agreement sets forth the entire and only agreement or understanding between the parties
relating to the subject matter hereof and supersedes and cancels all previous agreements,
negotiations, letters of intent, correspondence, commitments, plans and
9
representations in respect
thereof among them, including, without limitation, any prior employment agreement and any special
severance agreements and, if applicable, the Company’s Executive Change of Control Plan, and no
party shall be bound by any conditions, definitions, warranties or representations with respect to
the subject matter of this Agreement except as provided in this Agreement.
14. Inurement; Assignment
The rights and obligations of the Company under this Agreement shall inure to the benefit of
and shall be binding upon any successor of the Company or to the business of the Company, subject
to the provisions hereof. The Company may assign this Agreement to any person, firm or corporation
controlling, controlled by, or under common control with the Company. Neither this Agreement nor
any rights or obligations of Executive hereunder shall be transferable or assignable by Executive.
15. Amendment
This Agreement may not be amended in any respect except by an instrument in writing signed by
the parties hereto.
16. Headings
The headings in this Agreement are solely for convenience of reference and shall be given no
effect in the construction or interpretation of this Agreement.
17. Counterparts
This Agreement may be executed in any number of original or facsimile counterparts, each of
which shall be deemed an original, but all of which when taken together shall constitute one and
the same instrument.
18. Governing Law; Disputes
This Agreement shall be governed by, construed and enforced in accordance with the internal
laws of the State of Illinois, without giving reference to principles of conflict of laws. Any
dispute or controversy arising under, out of, in connection with or in relation to this Agreement
shall be finally determined and settled by arbitration. Arbitration shall be initiated by one
party making written demand upon the other party and simultaneously filing the demand together with
required fees in the office of the American Arbitration Association in Chicago, Illinois. The
arbitration proceeding shall be conducted in Chicago, Illinois by a single arbitrator in accordance
with the Expedited Procedures of the Employment Dispute Resolution Rules required by the
arbitrator. Except as required by the arbitrator, the parties shall have no obligation to
comply with discovery requests made in the arbitration proceeding. The arbitration award
shall be a final and binding determination of the dispute and shall be fully enforceable as an
arbitration award in any court having jurisdiction and venue over such parties.
[REMAINDER OF PAGE INTENTIONALLY BLANK]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written.
| EXECUTIVE: |
||||
| /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | ||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | ||||
| COMPANY: ▇▇▇▇▇ & ▇▇▇▇▇ COMPANY |
||||
| By: | /s/ ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Chief Executive Officer | |||
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TABLE OF CONTENTS
| Page | ||||
1. EMPLOYMENT
|
1 | |||
2. DUTIES AND RESPONSIBILITIES OF EXECUTIVE
|
1 | |||
3. COMPENSATION
|
2 | |||
4. BENEFITS
|
2 | |||
5. TERM OF EMPLOYMENT
|
3 | |||
6. CONFIDENTIALITY
|
3 | |||
7. NON-COMPETITION; NON-SOLICITATION
|
4 | |||
8. TERMINATION
|
6 | |||
9. SPECIFIC PERFORMANCE; DAMAGES
|
8 | |||
10. NOTICES
|
9 | |||
11. WAIVERS
|
9 | |||
12. PRESERVATION OF INTENT
|
9 | |||
13. ENTIRE AGREEMENT
|
9 | |||
14. INUREMENT; ASSIGNMENT
|
10 | |||
15. AMENDMENT
|
10 | |||
16. HEADINGS
|
10 | |||
17. COUNTERPARTS
|
10 | |||
18. GOVERNING LAW; DISPUTES
|
10 | |||