MEDIACOMM BROADCASTING SYSTEMS, INC.
d/b/a XXXXXXX.XXX
Exhibit No. 10.5
Employment Agreement
with
Xxx X. Xxxxxxxx
dated February 4, 2000
MediaComm Broadcasting Systems, Inc.
------------------------------------
This Agreement, made on February 4, 2000, by and between MediaComm Broadcasting
Systems, Inc., (hereinafter "MBSI"), and Xxx X. Xxxxxxxx (hereinafter
"Employee"). This Agreement replaces any previous Agreements.
1. Employee Responsibility:
A. Employee is responsible for carrying out the duties as Chief
Executive Officer, Chairman of the Board of Directors, Chief
Accounting and Financial Officer of MBSI.
2. Compensation:
A. Employee agrees to serve without salary or other compensation for
a term expiring on June 1, 2000.
B. Employee is not entitled to participate in employee benefit plans
maintained by MBSI, including insurance, stock option and profit
sharing plans.
C. This contract is not renewable by Employee.
3. Termination:
A. No Compensation upon termination:
i. Voluntary termination (Employee resignation) - No salary
will be paid to Employee up to and including the last day of
employment.
ii. Involuntary termination (Employee fired by MBSI) - No salary
will be paid to Employee up to and including the last day of
employment.
B. Company property - Upon termination all MBSI materials and
property will be returned by Employee to MBSI
C. Company clientele: Employee agrees that, if terminated
(voluntarily or involuntarily), Employee will not, for a period
of three months, call upon any client of MBSI.
In witness whereof, the parties below have executed this Agreement in Denver,
Colorado, on the date indicated above.
Employee
/s/ February 4, 2000
---------------------------- ----------------
Xxx X. Xxxxxxxx Signature Date
MBSI
/s/ February 4, 2000
---------------------------- ----------------
Xxxxxx X. Xxxxxxxx Signature Date
