EMPLOYMENT AGREEMENT
EXHIBIT 10.1
This EMPLOYMENT AGREEMENT hereinafter (“Agreement”) is effective as of this 4th day of, September, 2020 (“Effective Date”) between Boomer Holdings Inc, a Nevada corporation (“Employer”) and Xxxx Xxxxx (“Employee”). In
consideration of the mutual promises and covenants contained herein, the sufficiency of such consideration being expressly acknowledged by the parties, it is agreed as follows:
Employee shall receive compensation in the amount of Twenty Thousand Dollars ($20,000.00) per month commencing on September 7, 2020; provided, however, said compensation shall increase to Forty Thousand Dollars
($40,000.00) per month on the fourth month following the initial month in which Company gross revenue exceeds Ten Million Dollars ($10,000,000). In addition, annual bonuses shall be paid as determined by the Board of Directors of Employer. Employee
shall be paid in accordance with Employer payroll practices, including any tax withholdings required by State or Federal law.
Employee shall receive four (4) weeks of paid vacation per each year of this Agreement.
a. Without advance notice upon Employee being found guilty in a court of law of a felony or Employee agreeing to a felony plea;
b. If Employee breaches any of the provisions of this Agreement and said breach is not cured within thirty (30) days of written notice thereof from Employer;
In the event of the death of Employee, this Agreement shall terminate, provided any compensation then due shall be prorated on the basis of time to the date of such termination.
Upon termination, Employee will be paid accrued, unpaid salary.
Boomer Holdings Inc
0000 Xxxx Xxxxxxxx Xxxxxx
Xxx Xxxxx, Xxxxxx 00000
And if to Employee:
Xxxx Xxxxx
Either party may change the address to which notice is to be addressed by notifying the other party of the change.
17. ENFORCEMENT. This Agreement is to be construed in accordance with the laws of the State of Nevada. Any actions arising in connection with the Agreement shall be subject to mandatory arbitration in front of a
three-arbitrator panel in Xxxxx County, Nevada. By this Agreement, the parties confer jurisdiction over the subject matter of and parties to the Agreement. The party who prevails in any action will be entitled to an award of the reasonable costs
and attorney’s fees incurred in the action.
“Employer”
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Boomer Holdings Inc
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/s/ Xxxxxx Capri |
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By: Xxxxxx Capri, President
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“Employee”
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/s/ Xxxx Xxxxx |
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Xxxx Xxxxx
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