▇▇▇▇▇, INCORPORATED
FOUNDER, CEO EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (the "Agreement") is made effective as of
June 7, 1999 by and between ▇▇▇▇▇, Inc., a Delaware corporation ("▇▇▇▇▇"), and
▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇. an individual and ▇▇▇▇▇ founder ("▇▇▇▇▇▇▇"). ▇▇▇▇▇▇▇'▇
position with ▇▇▇▇▇ shall be Director, Chairman of the Board and Chief Executive
Officer (CEO). He shall also retain the title of President until such time as he
and the Board of Directors choose to nominate and elect a President who shall
report to the Chairman and CEO.
▇▇▇▇▇▇▇ and ▇▇▇▇▇ wish to provide mutual promises and assurances that will
define the nature and terms and conditions of their relationship. Therefore, in
consideration of the mutual promises, acknowledgments and representations
herein, the parties agree as follows:
1. EMPLOYMENT AND DUTIES. ▇▇▇▇▇▇▇ will work exclusively and on a
full-time basis for ▇▇▇▇▇ and shall devote his best efforts to accomplishing the
goals and objectives mutually established with ▇▇▇▇▇'▇ Board of Directors
(Board). ▇▇▇▇▇▇▇'▇ primary title shall be Chairman of the Board, Chief Executive
Officer and President.
2. TERM. Employment under this Agreement shall commence on the
effective date and shall continue for a period of five (5) years, unless earlier
terminated as set forth in Section 5 below. Thereafter, this Agreement shall
automatically renew for additional three (3)-year terms unless either party
gives the other written notice of non-renewal at least one (1) year prior to the
expiration of the initial term or any renewal term.
3. COMPENSATION.
(a) BASE SALARY. ▇▇▇▇▇ agrees to pay ▇▇▇▇▇▇▇ a base salary, before
deducting all applicable withholdings, at the rate of $225,000 per year, which
shall be payable in accordance with ▇▇▇▇▇'▇ standard payroll policies as they
may be revised from time to time. ▇▇▇▇▇ shall consider increases in the annual
rate of pay to be effective on ▇▇▇▇▇▇▇'▇ ▇▇▇▇ 7, of each year.
(b) INCENTIVE BONUS. ▇▇▇▇▇▇▇ shall be entitled to participate in a
bonus plan for ▇▇▇▇▇ Executives. By meeting specific objectives established with
the CEO, ▇▇▇▇▇▇▇ may earn, in addition to his base salary, an incentive bonus at
the discretion of the Board based on the performance of ▇▇▇▇▇.
(c) AUTO ALLOWANCE. ▇▇▇▇▇▇▇ is entitled to an automobile allowance of
$650 per month (after withholding), paid on the last day of the month as a
payroll item. Payment of Auto Allowance shall begin on condition of cash
availability.
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4. BENEFITS. In addition to the compensation described above, while
▇▇▇▇▇▇▇ is employed, ▇▇▇▇▇ shall provide ▇▇▇▇▇▇▇ the benefits described in this
section. All benefits shall terminate upon expiration or termination of this
Agreement and unused benefits shall have no cash value and shall not be
compensated to ▇▇▇▇▇▇▇ upon termination or expiration of this agreement.
(a) HEALTH AND MEDICAL INSURANCE. ▇▇▇▇▇ shall pay for and provide
▇▇▇▇▇▇▇ and his family with the same type of health, medical, dental and vision
insurance as is provided from time to time to all of ▇▇▇▇▇'▇ Founder Executives.
(b) LIFE AND DISABILITY INSURANCE. ▇▇▇▇▇ will reimburse ▇▇▇▇▇▇▇ for
life insurance now in effect for ▇▇▇▇▇▇▇ in at a premium of approximately $2,000
per quarter. In addition to any disability income available from the Arizona
Worker's Compensation Fund, ▇▇▇▇▇ shall also reimburse ▇▇▇▇▇▇▇ for his long-term
disability insurance policy for ▇▇▇▇▇▇▇ at a rate of approximately $900 per
quarter. ▇▇▇▇▇▇▇ shall be subject to all exclusions, limitations and
restrictions contained in the life and disability policies provided and ▇▇▇▇▇
shall not be a guarantor of any benefits available under these policies.
(c) PAID TIME OFF. ▇▇▇▇▇▇▇ shall have three weeks annual vacation. If
▇▇▇▇▇▇▇ is unable, due to the demands of his position, take vacation, the
vacation shall accrue into the next year. ▇▇▇▇▇▇▇ may accrue unused vacation up
to 27 weeks. Additional time off for illness or personal business may be taken
up to two weeks without the approval of the Board.
(d) EXPENSE REIMBURSEMENT. ▇▇▇▇▇ shall, upon receipt of appropriate
documentation, reimburse ▇▇▇▇▇▇▇ for his reasonable travel, lodging and other
ordinary and necessary business expenses consistent with ▇▇▇▇▇'▇ policies as in
effect from time to time.
(e) RETIREMENT. ▇▇▇▇▇▇▇ will be eligible to participate in ▇▇▇▇▇'▇
401K retirement program.
5. TERMINATION. ▇▇▇▇▇ may terminate this Agreement at any time in the
manner provided herein. ▇▇▇▇▇▇▇ may terminate this Agreement at any time upon
delivery of thirty days' written notice. Termination of this Agreement shall
terminate completely ▇▇▇▇▇▇▇'▇ employment with ▇▇▇▇▇.
6. NOTICE OF NON-RENEWAL.
(a) Notice of non-renewal shall be given in writing at least one-year
prior to expiration of the then current term, in which case, this Agreement
shall not be automatically renewed and shall terminate upon expiration of the
then current term. Upon termination under this term, ▇▇▇▇▇▇▇ shall receive one
year's severance pay and other benefits upon termination.
(b) FOR CAUSE. ▇▇▇▇▇ may terminate this Agreement for cause upon
written notice to ▇▇▇▇▇▇▇ stating the facts constituting such cause. If ▇▇▇▇▇▇▇
is terminated for cause, ▇▇▇▇▇ shall be obligated to pay ▇▇▇▇▇▇▇'▇ base salary
at the current rate due him through the date of termination. For purposes of
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this section, "cause" shall include: (1) neglect of duties as established by
mutual consent (2) the appropriation or attempted appropriation of a material
business opportunity of ▇▇▇▇▇, including attempting to secure or securing any
personal profit in connection with any transaction entered into on behalf of
▇▇▇▇▇; (3) the misappropriation or attempted misappropriation of any of ▇▇▇▇▇'▇
funds or property; (4) the conviction of, the indictment for (or its procedural
equivalent), or the entering of a guilty plea or plea of no contest with respect
to, a felony, or any other crime with respect to which imprisonment is a
possible punishment.
(c) WITHOUT CAUSE. ▇▇▇▇▇ may terminate this Agreement at any time
without cause, by giving 120 days' written notice to ▇▇▇▇▇▇▇. Within seventy-two
hours of termination without cause, ▇▇▇▇▇ shall pay to ▇▇▇▇▇▇▇ the base salary
due him through the date of termination plus the amount remaining under the term
of this agreement plus an additional three years' salary. ▇▇▇▇▇ shall provide
paid medical insurance for ▇▇▇▇▇▇▇ and his family and the other benefits for a
period of three (3) years after termination without cause. If ▇▇▇▇▇▇▇ is
terminated without cause, ▇▇▇▇▇ will also vest all non-vested options and shares
in the company due ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇'▇ shares and options shall have
"piggyback" registration rights in any subsequent public offering for a period
of ten (10) years
(d) DISABILITY. If during the term of this Agreement, ▇▇▇▇▇▇▇ fails
to perform his duties hereunder because of illness or other incapacity for a
period of 90 consecutive days, the ▇▇▇▇▇ board of directors shall have the right
to elect a replacement CEO and release ▇▇▇▇▇▇▇ to full benefits to which he is
due.
(e) DEATH. If ▇▇▇▇▇▇▇ dies during the term of this Agreement, this
Agreement shall terminate immediately, and ▇▇▇▇▇▇▇'▇ beneficiaries shall be
entitled to receive the base salary and benefits due ▇▇▇▇▇▇▇ through the term of
the agreement, and any other death benefits generally applicable to Executives.
(f) ACQUISITION, MERGER OR TAKEOVER. In the event that ▇▇▇▇▇ is
acquired, merged or taken over by another entity, ▇▇▇▇▇▇▇'▇ stock and options
shall immediately vest and this agreement shall automatically renew for five
years.
7. NONDISCLOSURE OF PROPRIETARY INFORMATION. ▇▇▇▇▇, including in part
▇▇▇▇▇▇▇'▇ direction and leadership, invents, develops, manufactures and markets
processes and products that involve experimental or inventive work. ▇▇▇▇▇'▇
success depends upon the protection of these processes and products by patent or
by secrecy. ▇▇▇▇▇▇▇ will substantially contribute to and have access to much of
▇▇▇▇▇'▇ "Proprietary Information." It is mutually agreed that ▇▇▇▇▇ and ▇▇▇▇▇▇▇
will keep such information secret:
(a) "PROPRIETARY INFORMATION" SHALL MEAN: (i) any and all methods,
inventions, improvements, information, data or discoveries, whether or not
patentable, that are secret, proprietary, confidential or generally undisclosed,
(including information originated or provided by ▇▇▇▇▇▇▇) in any area of
knowledge, including information concerning trade secrets, processes, software,
products, patents, inventions, formulae, apparatus, techniques, technical data,
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improvements, specifications, servicing, attributes and relative attributes
relating to any of ▇▇▇▇▇'▇ equipment, devices, processes or products; and (ii)
the identities of ▇▇▇▇▇'▇ customers and potential customers ("Customers")
including Customers ▇▇▇▇▇▇▇ successfully cultivates or maintains during his
Engagement using ▇▇▇▇▇'▇ products, name or infrastructure; the identities of
contact persons at Customers; the preferences, likes, dislikes and technical and
other requirements of Customers and contact persons with respect to product
types, pricing, sales calls, timing, sales terms, rental terms, lease, terms,
service plans, and other marketing terms and techniques; ▇▇▇▇▇'▇ business
methods, practices, strategies, forecasts, know-how, pricing, and marketing
plans and techniques; the identity of key accounts; the identity of potential
key accounts; and the identities of ▇▇▇▇▇'▇ key customer representatives and
Executives. Proprietary Information shall not be deemed to include (i)
information that was known to ▇▇▇▇▇▇▇ on a non-confidential basis prior to the
Engagement with ▇▇▇▇▇ of this Agreement or (ii) information that is or hereafter
becomes known to the general public without a breach or fault on the part of
▇▇▇▇▇▇▇.
(b) ▇▇▇▇▇▇▇ acknowledges that ▇▇▇▇▇ has exclusive property rights to
certain Proprietary Information and ▇▇▇▇▇▇▇ hereby assigns all rights he might
possess in certain Proprietary Information to ▇▇▇▇▇. Except as required in the
performance of the duties of his employment with ▇▇▇▇▇, ▇▇▇▇▇▇▇ will not at any
time during or after the term of his Engagement, without the prior written
consent of ▇▇▇▇▇, directly or indirectly use, communicate, disclose,
disseminate, lecture upon, publish articles or otherwise put in the public
domain, any Proprietary Information or any other information of a secret,
proprietary, confidential or general undisclosed nature relating to ▇▇▇▇▇, its
products, Customers, processes or services, including information relating to
testing, research, development, manufacturing, marketing or selling.
(c) All documents, records, notebooks, notes, memoranda, data bases,
and similar repositories containing Proprietary Information made or compiled by
▇▇▇▇▇▇▇ at any time during his term of employment, including any and all copies
thereof, are and shall be the property of ▇▇▇▇▇, shall be held by him in trust
solely for the benefit of ▇▇▇▇▇, and shall be delivered to ▇▇▇▇▇ by him on the
termination of his employment or at any other time upon the request of ▇▇▇▇▇.
(d) ▇▇▇▇▇▇▇ agrees to certify in writing at or before final
termination of the employment that ▇▇▇▇▇▇▇ no longer has in ▇▇▇▇▇▇▇'▇
possession, custody or control any copies of any business documents generated at
or relating to ▇▇▇▇▇ nor ▇▇▇▇▇'▇ Proprietary Information, whether in hard copy,
on a computer's hard drive, on disks or in any other form or media.
(e) All pertinent information regarding ▇▇▇▇▇'▇ business disclosed
to, learned by or developed by ▇▇▇▇▇▇▇ during the course of the employment shall
be presumed to be Proprietary Information.
(f) ▇▇▇▇▇▇▇ agrees to provide notification, at the start of any new
engagement or employment, to all subsequent Employers or contracting parties who
are involved in any way in the semiconductor industry or are otherwise ▇▇▇▇▇'▇
competitors, of the terms and conditions of this Agreement, along with a copy of
this Agreement.
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8. INVENTIONS.
For purposes of this section, the term "Inventions" shall mean
discoveries, concepts, and ideas, whether patentable or not, including
improvements, know-how, data, processes, methods, formulae, and techniques,
concerning ▇▇▇▇▇ activities, business and products that ▇▇▇▇▇▇▇ makes, discovers
or conceives either solely or jointly with others during employment by ▇▇▇▇▇
and, if based on or related to Proprietary Information, at any time after
termination of such employment. All Inventions shall be solely the property of
▇▇▇▇▇ and ▇▇▇▇▇▇▇ agrees to perform the requirements of this Section with
respect thereto without the payment by ▇▇▇▇▇ of any royalty or any consideration
other than as provided in this Agreement.
▇▇▇▇▇▇▇ shall apply, at ▇▇▇▇▇'▇ request, support and expense, for
United States and foreign letters patent in ▇▇▇▇▇▇▇'▇ name (or jointly if the
patent has several authors).
▇▇▇▇▇▇▇ hereby assigns to ▇▇▇▇▇ all rights to Inventions, and to
applications for United States and/or foreign letters patent and to United
States and/or foreign letters patent granted upon Inventions generated under
this agreement and during the term of ▇▇▇▇▇▇▇'▇ employment.
▇▇▇▇▇▇▇ shall acknowledge and deliver promptly to ▇▇▇▇▇ without charge
to ▇▇▇▇▇ but at its expense such written instruments (including applications and
assignments) and do such other acts, such as giving testimony in support of
▇▇▇▇▇▇▇'▇ inventorship, as may be necessary in the opinion of ▇▇▇▇▇ to obtain,
maintain, extend, reissue and enforce United States and/or foreign letters
patent relating to the Inventions and to vest the entire right and title thereto
in ▇▇▇▇▇ or its nominee.
▇▇▇▇▇▇▇'▇ obligation to assist ▇▇▇▇▇ in obtaining and enforcing patents
for Inventions in any and all countries shall continue beyond employment but
▇▇▇▇▇ shall compensate ▇▇▇▇▇▇▇ at a reasonable rate for time actually spent at
▇▇▇▇▇'▇ request on such assistance. If ▇▇▇▇▇ is unable for any reason whatsoever
to secure ▇▇▇▇▇▇▇'▇ signature to any lawful and necessary document required to
apply for or execute any patent application with respect to any Inventions,
including renewals, extensions, continuations, division or continuations in part
thereof, ▇▇▇▇▇▇▇ hereby irrevocably designates and appoints ▇▇▇▇▇ and its duly
authorized officers and agents, as his agents and attorneys-in-fact to act for
and in his behalf and instead of ▇▇▇▇▇▇▇, to execute and file any application
and to do all other lawful permitted acts to further the prosecution and
issuance of patents with the same legal force and effect as if executed by
▇▇▇▇▇▇▇.
As a matter of record ▇▇▇▇▇▇▇ has identified on Exhibit A attached
hereto all inventions or improvements relevant to the activity of ▇▇▇▇▇ which
have been made or conceived or first reduced to practice by ▇▇▇▇▇▇▇ alone or
jointly with others prior to his Engagement by ▇▇▇▇▇, that he desires to remove
from the operation of this and ▇▇▇▇▇▇▇ covenants that such list is complete. If
there is no such list or if no Exhibit A is attached, ▇▇▇▇▇▇▇ represents that he
has made no such inventions and improvements at the time of signing this
Agreement.
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9. NON-SOLICITATION OF CUSTOMERS OR EMPLOYEES OF ▇▇▇▇▇.
For a period of one year after termination of this Agreement, ▇▇▇▇▇▇▇
agrees not to solicit or call on any third party or entity, any customer or
potential customer of ▇▇▇▇▇ whom ▇▇▇▇▇▇▇ solicited or called on during the one
year period immediately prior to the termination of his employment, or such
customers or potential customers with which he became acquainted or of which he
learned during his last year of employment unless the products or service
represented do not compete with any of the products or services manufactured,
assembled, distributed, offered or sold by ▇▇▇▇▇.
During the term of this Agreement and for a period of one year after
termination this Agreement, ▇▇▇▇▇▇▇ will not solicit any of ▇▇▇▇▇'▇ Employees
for a competing business or otherwise induce or attempt to induce such Employees
to terminate their employment with ▇▇▇▇▇.
10. EXCLUSIVE ENGAGEMENT. During the period of this Agreement, ▇▇▇▇▇▇▇
shall not, without the Board's express written consent, engage in any
employment, consulting activity or business other than for ▇▇▇▇▇. Activity as a
passive investor in or outside director for another business enterprise shall
not be considered a violation of this section for so long as such business
enterprise is not competing or conducting business with ▇▇▇▇▇ and so long as
such activities do not adversely impact the performance of ▇▇▇▇▇▇▇'▇ duties to
▇▇▇▇▇.
11. NON-COMPETE. The parties acknowledge that ▇▇▇▇▇▇▇ has acquired or
will acquire much knowledge and information concerning ▇▇▇▇▇'▇ business and
Customers as the result of ▇▇▇▇▇▇▇'▇ status as founder and Executive employee.
The parties further acknowledge that the scope of business in which ▇▇▇▇▇ is
engaged is worldwide and very competitive, that such business is one in which
few companies can compete successfully, and that competition by ▇▇▇▇▇▇▇ in that
business would injure ▇▇▇▇▇ severely. Accordingly, ▇▇▇▇▇▇▇ agrees that during
his employment and for a period of one year following the end of the employment,
▇▇▇▇▇▇▇ will not take any of the following actions within 1,500 miles of
▇▇▇▇▇▇▇'▇ principal office location, or, in the event ▇▇▇▇▇▇▇ had an assigned
territory, in the territory or territories ▇▇▇▇▇▇▇ worked in on behalf of ▇▇▇▇▇:
(a) Directly or indirectly, sell or attempt to sell products or
services for or on behalf of any business that manufactures, assembles,
distributes, offers or sells any products or services that compete with any
services or products then manufactured, assembled, distributed, offered or sold
by ▇▇▇▇▇;
(b) Persuade or attempt to persuade any potential customer or client
to which ▇▇▇▇▇ has made a proposal or sale, or with which ▇▇▇▇▇ has been having
discussions, not to transact business with ▇▇▇▇▇, or instead to transact
business with ▇▇▇▇▇▇▇, another person or organization;
(c) Solicit the business of any company that has been a customer or
client of ▇▇▇▇▇ at any time during ▇▇▇▇▇▇▇'▇ employment, provided, however, if
▇▇▇▇▇▇▇ becomes employed by or represents a business that exclusively sells
products or services that do not compete with products or services then marketed
or intended to be marketed by ▇▇▇▇▇, such contact shall be permissible.
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12. COMPLIANCE WITH LAW AND AMENDMENT BY COURT: If there is any
conflict between any provision of this Agreement and any statue, law, regulation
or judicial precedent, the latter shall prevail, but the provisions of this
Agreement thus affected shall be curtailed and limited only to the extent
necessary to bring it within the requirements of the law. If any part of this
Agreement shall be held by a court of proper jurisdiction to be indefinite,
invalid or otherwise unenforceable, the entire Agreement shall not fail on
account thereof, but: (i) the balance of the Agreement shall continue in full
force and effect unless such construction would clearly be contrary to the
intention of the parties or would result in an unconscionable injustice; and
(ii) the court shall amend the Agreement to the extent necessary to make the
Agreement valid and enforceable.
13. FREEDOM FROM ENGAGEMENT RESTRICTIONS. ▇▇▇▇▇▇▇ represents and
warrants that ▇▇▇▇▇▇▇ has not entered into any agreement, whether express,
implied, oral, or written, that poses an impediment to ▇▇▇▇▇▇▇'▇ employment by
▇▇▇▇▇ including ▇▇▇▇▇▇▇'▇ compliance with the terms of this Agreement. In
particular, ▇▇▇▇▇▇▇ is not subject to a preexisting non-competition agreement,
and no restrictions or limitations exist respecting ▇▇▇▇▇▇▇'▇ ability to perform
fully ▇▇▇▇▇▇▇'▇ obligations to ▇▇▇▇▇.
14. THIRD PARTY TRADE SECRETS. During ▇▇▇▇▇▇▇'▇ employment, ▇▇▇▇▇▇▇
agrees not to copy, refer to, or in any way use information that is proprietary
to any third party (including any previous Employers). ▇▇▇▇▇▇▇ represents and
warrants that he has not improperly taken any documents, listings, hardware,
software, discs, or any other tangible medium that embodies Proprietary
Information from any third party, and that ▇▇▇▇▇▇▇ does not intend to copy,
refer to, or in any way use information that is proprietary to any third party
in performing ▇▇▇▇▇▇▇'▇ duties for ▇▇▇▇▇.
15. INJUNCTIVE RELIEF. ▇▇▇▇▇▇▇ acknowledges that a breach of this
Agreement is likely to result in irreparable and unreasonable harm to ▇▇▇▇▇,
that damages caused by a breach would be extremely difficult to calculate, and
that injunctive relief, as well as damages, would be appropriate.
16. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon
▇▇▇▇▇▇▇, his heirs, executors, assigns, and administrators and shall inure to
the benefit of ▇▇▇▇▇, its successors, and assigns.
17. WAIVER. No waiver of any of the provisions of this Agreement shall
be deemed to, or shall constitute a waiver of, any other provisions, whether or
not similar, nor shall any waiver constitute a continuing waiver. No waiver
shall be binding unless executed in writing by the party making the waiver.
18. GOVERNING LAW AND VENUE. Arizona law shall govern the construction
and enforcement of this Agreement and the parties agree that any litigation
pertaining to this Agreement shall be in courts located in Maricopa County,
Arizona, and each of the parties consents to the exclusive jurisdiction of such
courts and waives any objection to jurisdiction or venue of such courts.
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19. CONSTRUCTION. The language in all parts of this Agreement shall in
all cases be construed as a whole according to its fair meaning and not strictly
for nor against any party. The Section headings contained in this Agreement are
for reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement. All terms used in one number or gender shall
be construed to include any other number or gender as the context may require.
The parties agree that each party has reviewed this Agreement and has had the
opportunity to have counsel review the same and that any rule of construction to
the effect that ambiguities are to be resolved against the drafting party shall
not apply in the interpretation of this Agreement or any amendment or any
exhibits thereof.
20. NONDELEGABILITY OF ▇▇▇▇▇▇▇'▇ RIGHTS AND ▇▇▇▇▇ ASSIGNMENT RIGHTS.
The obligations, rights and benefits of ▇▇▇▇▇▇▇ hereunder are personal and may
not be delegated, assigned or transferred in any manner whatsoever, nor are such
obligations, rights or benefits subject to involuntary alienation, assignment or
transfer. Upon reasonable notice to ▇▇▇▇▇▇▇, ▇▇▇▇▇ may transfer ▇▇▇▇▇▇▇ to an
affiliate of ▇▇▇▇▇, which affiliate shall assume the obligations of ▇▇▇▇▇ under
this Agreement. This Agreement shall be assigned automatically to any entity
merging with or acquiring ▇▇▇▇▇ or its business.
21. SEVERABILITY. In the event any term or provision of this Agreement
is declared by a court of competent jurisdiction to be invalid or unenforceable
for any reason, this Agreement shall remain in full force and effect, and either
(a) the invalid or unenforceable provision shall be modified to the minimum
extent necessary to make it valid and enforceable or (b) if such a modification
is not possible, this Agreement shall be interpreted as if such invalid or
unenforceable provision were not a part hereof.
22. ATTORNEYS' FEES. Except as otherwise provided herein, in the event
any party hereto institutes an action or other proceeding to enforce any rights
arising out of this Agreement, the party prevailing in such action or other
proceeding shall be paid all reasonable costs and attorneys' fees by the
non-prevailing party, such fees to be set by the court and not by a jury and to
be included in any judgment entered in such proceeding.
23. NOTICES. All notices required or permitted hereunder shall be in
writing and shall be deemed duly given upon receipt if either personally
delivered, sent by certified mail, return receipt requested, or sent by a
nationally-recognized overnight courier service, addressed to the parties as
follows:
If to ▇▇▇▇▇: ▇▇▇▇▇, Inc.
Attention: President/Chief Executive Officer
▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
With a copy to: ▇▇▇▇▇▇▇ & ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
If to ▇▇▇▇▇▇▇: ▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
or to such other address as any party may provide to the other in accordance
with this Section.
8
24. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter hereof (I.E., ▇▇▇▇▇▇▇'▇
employment by ▇▇▇▇▇) and supersedes all prior or contemporaneous understandings
or agreements in regard thereto. No modification or addition to this Agreement
shall be valid unless in writing, specifically referring to this Agreement and
signed by all parties.
IN WITNESS WHEREOF, the parties have executed this Agreement.
EMPLOYER: Chief Executive Officer
▇▇▇▇▇, Inc., /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
A Delaware Corporation ---------------------------
▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
---------------------------
▇▇▇▇▇▇▇ ▇▇▇▇▇▇
/s/ ▇. ▇▇▇▇▇▇▇ Myersl
---------------------------
L. ▇▇▇▇▇▇▇ ▇▇▇▇▇
/s/ ▇▇▇ ▇. ▇▇▇▇▇, PhD
---------------------------
▇▇▇ ▇. ▇▇▇▇▇, PhD
9
Exhibit A
None
10