EXHIBIT 99.2
EMPLOYMENT AND COMPENSATION AGREEMENT
This Employment and Compensation Agreement ("Agreement") is entered
into this 12 day of December, 2005, by and among PracticeXpert, Inc., a Nevada
Corporation, ("PXINC"), and Xxxxxxx X. Xxxxx, an individual ("EXECUTIVE"). PXINC
and EXECUTIVE are collectively referred to as the "Parties."
This Agreement is effective as of January 1, 2006 ("Effective Date"),
and will continue in effect unless terminated in accordance with the provisions
of Paragraph 8 of this Agreement.
The Parties have determined that this Agreement is in their best
interests and are, therefore, willing to enter into this Agreement, and have
entered into this Agreement freely and voluntarily, and without duress or
coercion of any kind.
Now, therefore, the Parties agree as follows:
TERMS
1. Employment and Term.
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1.1. Employment. In consideration of the mutual promises and
agreements contained herein, PXINC employs EXECUTIVE to serve in the
capacity as Vice President Revenue Management Services Group
("VP/RMSG"). EXECUTIVE hereby accepts such engagement by PXINC on the
terms and conditions set forth herein.
1.2. Term. Subject to termination as provided in this
Agreement, the term of this Agreement ("Term") shall be for a period of
four (4) years, commencing on the Effective Date, and ending on the
four year anniversary of the Effective Date. If this Agreement is not
terminated by PXINC or EXECUTIVE, not later than thirty (30) days
before the expiration of the Term of this Agreement, the Term shall
automatically be extended for an additional year; this automatic
extension shall apply to each subsequent annual term.
2. Duties of EXECUTIVE.
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2.1. Duties. EXECUTIVE shall perform all duties and
obligations as shall be established by PXINC Board of Directors
("Board") as may be amended from time to time. EXECUTIVE shall perform
the services contemplated herein faithfully, diligently and to the best
of EXECUTIVE's ability. EXECUTIVE shall report directly to Chief
Executive Officer or any other individual designated by the Board,
regarding all matters of EXECUTIVE's services.
2.1.1 EXECUTIVE's duties upon the Effective Date
shall generally be to manage the overall
operations and facilities of the RMSG for
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maximum profitability, to improve operations
through business process improvement, to
increase revenues through new business
development, to ensure operations provide a
high level of customer satisfaction and to
mentor employees in the RMSG to further
develop their skills and to ensure a high
level of employee moral.
2.1.2 EXECUTIVE's job functions and duties may be
modified or changed at any time by the CEO
and/or Board of Directors of the Company.
2.2. PXINC's Office. EXECUTIVE shall perform EXECUTIVE's
services primarily (but not exclusively) at PXINC's office or at such
other locations as may agreed by PXINC and EXECUTIVE.
2.3. Exclusive Services. EXECUTIVE shall devote the requisite
business time, attention, energies, skills, learning and best efforts
to PXINC's business.
EXECUTIVE agrees:
2.3.1 To devote so much of his time, skill, labor and
attention to the affairs and activities of PXINC as may be
required to serve the best interests of PXINC and, to handle
such administrative and supervisory responsibilities as may be
assigned to him from time to time by PXINC.
2.3.2 During the term of this Agreement not to engage
in, or work for any individual, firm, association or
corporation engaged in the same or similar activities as are
carried on by PXINC or any of the wholly owned subsidiaries of
parent company PracticeXpert, Inc., without the consent of the
Board of Directors of PXINC.
2.3.3 During the term of this Agreement, EXECUTIVE
shall not participate in any business, organization, activity
or have any investment of any kind relating to or affecting,
directly or indirectly, the management of medical practices,
related billing services or creation or support of clinical
information systems, without the consent of the Board.
EXECUTIVE shall make full disclosure to the Board, at such
time or times and in such manner as the Board shall prescribe,
of all of his interest in or connection with any such
businesses, organizations, investments, and activities. If
requested to do so by the Board, EXECUTIVE shall sever and
terminate any and all such memberships, investments,
connections and interests.
3. Compensation.
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3.1. Salary. In consideration of EXECUTIVE's services
hereunder, PXINC shall pay or cause to be paid to EXECUTIVE, a salary
("Base Salary") of one hundred
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fifty thousand dollars ($150,000.00) per year, less required deductions
for state and federal withholding tax, Social Security and other
employee taxes. Salary shall be paid on such schedule as PXINC may
adopt for its other employees. The Salary shall be pro-rated for any
partial employment on the basis of a 365-day fiscal year.
3.2. Options. EXECUTIVE shall be granted a Employee Stock
Options under the Company's Employee Stock Incentive Plan to acquire
350,000 shares of common stock of PracticeXpert at $.30 per share.
These options shall vest over the term of this agreement with 25% of
the total 87,500 vesting on each anniversary of this agreement.
3.3. Permissive Adjustment to Base Salary. EXECUTIVE's
compensation, including the Base Salary, may be changed from time to
time by mutual agreement of EXECUTIVE and PXINC's Board. Any such
agreement shall be evidenced by a written amendment of this Agreement,
which, among other things, shall specify with particularity any change
in EXECUTIVE's compensation and the date when such change became
effective.
3.4. Bonuses. EXECUTIVE's performance shall be reviewed by
PXINC's Board, or EXECUTIVE's immediate supervisor as established by
the Board, on a periodic basis and EXECUTIVE shall receive a bonus or
bonuses based on profitability of the RMSG business unit, conversion of
customers of XPM software, customer service and client satisfaction
benchmarks. The methodology for such bonuses are as described in
Exhibit A to this agreement.
3.5. Car Allowance. EXECUTIVE shall be reimbursed up to $500
per month for the purchase, lease, insurance, operation and/or
maintenance of a vehicle of EXECUTIVE'S choosing. EXECUTIVE may not
lease a vehicle in PXINC's name, or in the name of any PXINC
subsidiary, and have PXINC make payments on such lease.
4. Benefits.
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4.1. Vacation. EXECUTIVE shall be entitled to five (5) weeks
of paid vacation per year, without reduction in salary. Vacation time
shall not be taken in increments greater than two weeks consecutively.
Any vacation time not used in any year shall not accumulate and carry
forward to the next year of the Term. At the end of each year of the
Term, EXECUTIVE shall be entitled to receive vacation pay in lieu of
any vacation time not used or not allowed to be carried forward to the
next year of the Term.
4.2. Fringe Benefits. EXECUTIVE shall receive all paid group
insurance benefits and any other benefits on the same basis as PXINC
may from time to time offer to its employees generally.
5. Reimbursement for Business Expenses.
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5.1. Business Expenses. EXECUTIVE shall be reimbursed by PXINC
for all ordinary and necessary expenses incurred by EXECUTIVE in the
performance of EXECUTIVE's duties during the Term. Such expenses shall
include business related entertainment, meals, travel expenses,
conventions, meetings and seminars including professional association
dues and other customary professional dues, licenses and fees.
EXECUTIVE shall keep accurate and complete records of all such
expenses, including proof of payment. EXECUTIVE shall comply with all
company issued policies and procedures relations to business expenses.
5.2. Maintenance of Records. With respect to the reimbursement
of business expenses, EXECUTIVE shall acquire and maintain, in a form
required by the state or federal tax authorities, copies of all
receipts, records of payment, bills or other documents evidencing
expenditures for business purposes. Such records shall be maintained
for all time periods required by applicable law. EXECUTIVE shall not be
entitled to reimbursement for any business expense for which such
records are not maintained. If, on audit by a governmental tax agency,
it is determined that the business records which he maintained for
expenses for which he was reimbursed are found to be inadequate, and
the tax deduction for such expenses are denied to PXINC, EXECUTIVE
shall reimburse PXINC for each such denied deduction.
6. Confidentiality.
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6.1 Confidential and Proprietary Information. PXINC's business
profitability and good will are directly dependent upon the
confidential development, implementation and use of various marketing,
management and operating techniques, designs and systems and other
matters of a similar proprietary nature. Such activities include,
without limitation, medical records, patient files, financial data,
service provider material, presentation or sales materials, materials
regarding PXINC's affiliated physician groups, materials regarding
PXINC's products and lists or other compilations of information
concerning aspects of the PXINC's business and existing and prospective
patients. All such information is proprietary in nature, and PXINC
strives to keep such information confidential (hereinafter collectively
referred to as PXINC's "Confidential and Proprietary Information").
To enhance EXECUTIVE's work performance and abilities, PXINC
has agreed to and will provide EXECUTIVE with access to, and the right
to use its Confidential and Proprietary Information. EXECUTIVE
acknowledges that such information is, and must be treated as,
confidential. EXECUTIVE further acknowledges that access to, and
knowledge of, PXINC's Confidential and Proprietary Information will
give his a competitive advantage in any future endeavors.
6.2 Confidentiality Maintained. EXECUTIVE is or will be
employed in a position which is directly involved in the development
and conduct of the PXINC's business, and in such capacity EXECUTIVE
will be provided access to and will gain knowledge of the PXINC's
Confidential and Proprietary Information. EXECUTIVE
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shall, both during and after his employment by PXINC, preserve, protect
and hold in strictest confidence PXINC's Confidential and Proprietary
Information. EXECUTIVE will at all times, during and after the term of
this Agreement, strictly observe and comply with the terms of any
confidentiality or similar agreements between PXINC and its patients.
6.3 No Use of Information. EXECUTIVE shall not, either during
or after his employment with PXINC, use for herself or disclose to or
use for any other persons, directly or indirectly, any of PXINC's
Confidential and Proprietary Information, except in carrying out his
duties and responsibilities as an employee of PXINC or as such
disclosure or use is expressly authorized by PXINC in writing.
6.4 Non-Removal of Records. All Patient information,
Confidential and Proprietary Information and all files, reports,
computer discs, tapes, cards or other computer records, materials,
designs, records, documents, notes, memoranda, specifications,
equipment and other items, and any originals or copies thereof,
relating to the business of PXINC which EXECUTIVE is either provided,
prepares herself, uses, or otherwise acquires during his employment
with PXINC, are and shall remain the sole and exclusive property of
PXINC, and no such items (to the extent they exist or are recorded in
any tangible form) shall be removed from PXINC's premises without the
prior consent of PXINC, and all such items shall be immediately
returned to PXINC upon termination of the EXECUTIVE's employment with
PXINC.
6.5 Exceptions. The restrictions contained in this section
shall not apply to any information that is or becomes generally
available to and known by the public (other than as a result of
unpermitted disclosure directly or indirectly by EXECUTIVE or his
affiliates, advisors or representatives). It shall not be a breach or
violation of EXECUTIVE's covenants hereunder if a disclosure is made
pursuant to a court order, a valid administrative subpoena or a lawful
request for information by an administrative or regulatory agency.
EXECUTIVE shall give PXINC prompt notice of any such court order,
subpoena or request for information.
7. Non-Competition and Non-Solicitation.
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7.1 Consideration Acknowledged. EXECUTIVE acknowledges that
his employment with PXINC has been, and will continue to be, special,
unique and of an extraordinary character and that, in connection with
such employment, she has acquired, acquires, and will continue to
acquire, special skills and training. EXECUTIVE further acknowledges
that the covenants contained in this section are an essential part of
his engagement by PXINC and that, but for his agreement to comply with
such covenants, PXINC would not have entered into this Agreement.
Finally, EXECUTIVE acknowledges that she has gained access to and use
of PXINC's Confidential and Proprietary Information because of his
covenants contained in this section, and that she would be
competitively advantaged against PXINC because of his knowledge of such
Confidential and Proprietary Information.
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7.2 EXECUTIVE Covenant. EXECUTIVE covenants, and agrees, that
she shall not, during the term of this Agreement and for a period of
one (1) years after the termination of his employment with PXINC:
7.2.1 directly or indirectly, either as principal,
agent, independent contractor, consultant, director, officer,
employee, employer, advisor, stockholder, partner or in any
other individual or representative capacity whatsoever, either
for his own benefit or for the benefit of any other person or
entity either (a) hire, attempt to hire, contact or solicit
with respect to hiring any employee of PXINC or (b) induce or
otherwise counsel, advise or encourage any employee of PXINC
to leave the employment of PXINC; or
7.2.2 directly or indirectly, either as principal,
agent, independent contractor, consultant, director, officer,
employee, employer, advisor, stockholder, partner or in any
other individual or representative capacity whatsoever, either
for his own benefit or for the benefit of any other person or
entity, solicit, divert or take away any existing or
prospective customers, clients, affiliated physician groups or
affiliated physicians of PXINC, who were such during his
employment with PXINC;
7.2.3 Anti-Disparagement. EXECUTIVE shall not, either
during or after the termination of EXECUTIVE's employment with
PXINC, make any public or private remarks or comments that are
intended, or could reasonably be construed as, disparaging of
PXINC, its directors, officers, products, business or
services.
7.2.4 Limitation on Scope. Should any portion of this
section be deemed unenforceable because of the scope, duration
or territory encompassed by the undertakings of the Employee
hereunder, and only in such event, then the parties consent
and agree to such limitation on scope, duration or territory
as may be finally adjudicated as enforceable by a court of
competent jurisdiction after the exhaustion of all appeals.
8. Termination.
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8.1. Termination "For Cause". PXINC may terminate this
Agreement "for cause" by delivery of written notice to EXECUTIVE
specifying the cause(s) relied on for such termination. Except as
otherwise provided in this Agreement, EXECUTIVE's unearned Salary and
other fringe benefits, shall not continue after the date of
termination; and EXECUTIVE shall remain entitled to any unpaid
commissions earned during the term of this agreement but which may
accrue after the termination date. Grounds to terminate this Agreement
"for cause" shall mean any of the following events:
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8.1.1. EXECUTIVE's willful failure or refusal to
perform the duties of employment under the provisions of this
Agreement, which failure is not cured within ten (10) business
days after actual receipt of written notice to perform;
8.1.2. EXECUTIVE's knowing participation in any
activity which is intentionally and maliciously injurious to
PXINC and is not disclosed to PXINC;
8.1.3. EXECUTIVE's commission of any intentional,
actual fraud against PXINC, or unauthorized and wrongful use
or misappropriation of any funds or properties of PXINC for
EXECUTIVE's personal gain;
8.1.4. EXECUTIVE's conviction of any felony involving
moral turpitude;
8.1.5. EXECUTIVE's knowing and wrongful
misappropriation of trade secrets or proprietary information
of PXINC;
8.1.6. EXECUTIVE's knowing and wrongful breach of the
Non-Disclosure Agreement.
8.2. Termination "Without Cause". PXINC may terminate
EXECUTIVE's employment Without Cause upon delivery of Notice to
EXECUTIVE as defined by Section 11.1 herein.
8.2.1 Effect of Termination Without Cause. In the
event of Termination Without Cause, EXECUTIVE shall be
entitled to 50% of all unpaid salary due for the remainder of
the term of this agreement. This shall include commissions due
on any sales which EXECUTIVE has made a written proposal for
and which close subsequent to Termination, regardless of who
closes said sales. Such payments shall be made in accordance
with then effective payment schedules of PXINC for such
compensation.
8.3. Effective Date of Termination. Any notice of termination
given pursuant to this section shall effect termination of this
Agreement as of the date specified in such notice or, if no such date
is specified, on the last day of the month in which such notice is
received by EXECUTIVE.
8.4. Death/Disability. This Agreement shall terminate without
notice on the date of EXECUTIVE 's death or the date when EXECUTIVE
becomes "completely disabled" as defined herein.
8.5. Duties Before Termination. If this Agreement is
terminated pursuant to this section, the Board may, in its sole
discretion, and subject to its other obligations under this Agreement,
relieve EXECUTIVE of EXECUTIVE's duties under this Agreement and assign
EXECUTIVE other duties and responsibilities to be performed until the
termination becomes effective.
9. Death or Disability During Term.
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9.1. Receipt of Salary. On termination of EXECUTIVE's
employment pursuant to this Agreement, EXECUTIVE or his estate or
personal representative, as the case may be, shall be entitled to
continuation of one hundred percent (100%) of EXECUTIVE's then-current
salary and all compensation and benefits under this Agreement for three
(3) months from the date of death or the date when EXECUTIVE becomes
completely disabled, or through the end of the fiscal year in which
such termination occurs, whichever is longer.
9.2. Definition of Disability. The term "completely disabled"
as used in this Agreement shall mean the inability of EXECUTIVE to
perform his duties under this Agreement because EXECUTIVE has become
permanently disabled within the meaning of any policy of disability
income insurance covering employees of PXINC then in force. If PXINC
has no policy of disability income insurance covering employees of
PXINC in force when EXECUTIVE becomes disabled, the term "completely
disabled" under this Agreement shall apply by reason of any incapacity,
physical or mental, which the Board, based on medical advice or an
opinion provided by a licensed physician acceptable to the Board,
determines to have incapacitated EXECUTIVE from satisfactorily
performing all of the usual services of PXINC during the foreseeable
future. Based on such medical advice or opinion, the action of the
Board shall be final and binding and the date such action is taken
shall be the date of such complete disability for purposes of this
Agreement.
10. Indemnification.
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10.1 If EXECUTIVE is made a party to any proceeding, whether
civil, criminal, administrative or investigative (collectively any
"proceeding") by reason of the fact that EXECUTIVE is or was an
employee or director of PXINC, PXINC and it's management company,
PracticePXINC, shall indemnify, defend and hold EXECUTIVE harmless from
and against all liabilities, damages, losses, costs, expenses,
including reasonable attorneys' fees, judgments, fines, settlements and
other amounts actually and reasonably incurred in connection with such
proceeding, if EXECUTIVE acted in good faith and in a manner EXECUTIVE
reasonably believed to be in PXINC's best interests. Notwithstanding
the foregoing, no indemnification shall be made (a) in respect of any
claim as to which EXECUTIVE shall have been adjudged to be liable to
PXINC in the performance of his duty to PXINC, (b) of amounts paid in
settling or otherwise disposing of a threatened or pending action,
unless it is settled with the approval of PXINC's Board; (c) in respect
of any claim resulting from EXECUTIVE's breach of confidentiality or
proprietary agreements with PXINC, or (d) with respect to proceedings
arising from proprietary rights asserted by third parties, and not
involving rights to which PXINC is entitled pursuant to this Agreement.
In addition, PXINC shall similarly indemnify, defend and hold EXECUTIVE
harmless from and against all liabilities, damages, losses,
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costs, expenses, including reasonable attorneys' fees, judgments,
fines, settlements and other amounts actually and reasonably incurred
in connection with any personal guarantee executed by EXECUTIVE to
assist PXINC's credit or to acquire products, goods, equipment and/or
services on PXINC's behalf. PXINC will use its best efforts to obtain
directors' and officers' insurance coverage for its directors and
officers in an amount and on terms determined by the Board.
11. General Terms.
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11.1. Notices. Unless otherwise provided in this Agreement or
by law, all notices required or permitted by this Agreement or by law
to be served on or delivered to a party shall be in writing and deemed
duly served, delivered and received when personally delivered to the
party to whom directed, or instead, three (3) business days after
deposit in the U.S. mail, certified or registered, return receipt
requested, first-class postage prepaid, addressed to the address
indicated on PXINC's books. A party may change this address by giving
written notice of the change to the other party. Fax transmission or
email transmission to a fax machine or email address specified in such
a notice shall constitute personal delivery.
11.2. Interpretation of Agreement. This Agreement contains the
entire agreement between the parties regarding its subject matter. Any
prior oral or written representations, agreements and/or understandings
shall be of no effect. No waiver, amendment or discharge of this
Agreement shall be valid unless it is in writing and signed by the
party to be obligated. This Agreement shall: (1) be governed by
California law; and (2) subject to any provision of this Agreement that
may prohibit or curtail assignment of rights, bind and inure to the
benefit of the parties and their respective heirs, assigns, personal
representatives and successors; provided, however, there are no
intended third-party beneficiaries to this Agreement other than those
expressly set forth herein, and only the parties or their heirs,
assigns, personal representatives and successors are entitled to
enforce this Agreement. If any provision of this Agreement is
determined by any court of competent jurisdiction or arbitrator to be
invalid, illegal, or unenforceable to any extent, that provision shall,
if possible, be construed as though more narrowly drawn, if a narrower
construction would avoid such invalidity, illegality, or
unenforceability or, if that is not possible, such provision shall, to
the extent of such invalidity, illegality, or unenforceability, be
severed, and the remaining provisions of this Agreement shall remain in
effect. No inference, assumption or presumption shall be drawn if a
party or a party's attorney prepared and/or drafted this Agreement; it
shall be conclusively presumed that the parties participated equally in
its preparation and/or drafting.
11.3. Notice of Default and Arbitration. If either PXINC or
EXECUTIVE materially default in the due and timely performance of any
of their obligations under this agreement, the non-defaulting party may
give notice of such default and of the intent to terminate this
agreement, in the manner provided for notice herein. The notice will
specify with particularity the default or defaults on which the notice
is based. The termination will
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be effective five days after the final date for cure of any default
referenced in the notice, unless the specified default or defaults have
been cured prior to such date.
11.4. Arbitration. Any controversy or claim arising out of, or
relating to, this agreement, or the making, performance, or
interpretation of it, will be settled by arbitration in Los Angeles,
California, under the commercial arbitration rules of the American
Arbitration Association then existing, and judgment on the arbitration
award may be entered in any court having jurisdiction over the subject
matter of the controversy. Arbitrators will be persons experienced in
negotiating, making, and consummating employment agreements.
11.5. Execution of This and Other Instruments. The parties
have signed below voluntarily after having been advised by their
respective counsel of all provisions hereof, and, in signing below,
they are not relying on any inducements, promises and representations
made by or on behalf of the other party except as set forth herein.
This Agreement may be executed in counterparts, each of which shall be
deemed an original. An executed counterpart of this Agreement
transmitted by fax shall be equally as effective as a manually executed
counterpart. Each party shall take all reasonable steps, and execute,
acknowledge and deliver all further instruments necessary or expedient
to implement this Agreement.
11.6. Attorneys' Fees; Jurisdiction; Venue. In any proceeding
(including arbitration) involving this Agreement: (1) the prevailing
party shall be entitled to recover actual attorney's fees and all
litigation-related costs (including ePXINC witnesses' fees) incurred in
addition to all other items of recovery permitted by law.
INTENDING TO BE LEGALLY BOUND, the parties have executed this
Employment and Compensation Agreement as of the date first written above.
Practice, Inc.
A Nevada Corporation
/s/ Xxxxxxxx Doctor
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By: Xxxxxxxx Doctor
President/CEO
EXECUTIVE
/s/ Xxxxxxx X. Xxxxx
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By: Xxxxxxx X. Xxxxx
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EXHIBIT A TO XXXXX EMPLOYMENT AND COMPENSATION AGREEMENT
Executive shall receive a bonus or bonuses to be calculated as follows:
1) Profitability Bonus
A bonus shall be paid on the profitability of the Revenue Management Services
Group business unit (RMSG). The bonus will be an amount equal to 3% of the net
profit of RMSG after allocation of corporate overhead, such allocation not to
exceed six (6%) of net revenue of RMSG for the first twelve months. The
allocation of corporate overhead shall not exceed nine (9%) for the second
twelve months and shall not exceed twelve (12%) thereafter. This bonus will be
paid quarterly sixty days after then end of each calendar quarter. If RMSG's net
profit exceeds $250,000 in any one month, the bonus for that net profit in
excess of $250,000 shall be ten percent (10%). The allocation of overhead shall
be based on the average of monthly overhead applied for management reporting
purposes during any period.
2) Conversion of Customers to Xpm Software
A one time bonus will be paid upon substantial completion of the conversion of
all RMSG customers to the XPM software, as follows:
- if 80% of eligible conversions are completed by September, 2006 then
$10,000
- if 80% of eligible conversions completed by October 31, 2006 then
$7,500
- if 80% of eligible conversions completed by November 30, 2006 then
$5,000
- if 80% of eligible conversions completed by December 31, 2006 then
$2,500
The eligible conversions are defined as those clients of the Revenue Management
Service Group not utilizing XPM software reduced by those clients that refuse
conversion.
3) Client Satisfaction and Customer Service Benchmarks
A bonus will be payable based upon RMSG customer satisfaction. A survey will be
made of all RMSG customers to assess customer satisfaction. The survey shall be
designed such that customer satisfaction can be measured quantitatively as a
percentage. The survey shall be repeated at six month intervals. The current
survey results shall be compared to prior survey results and a bonus will be
payable as follow:
- $2,000 for each percentage point improvement in customer satisfaction
- a one time $10,000 bonus when customer satisfaction exceeds 95%.
- a $5,000 bonus when customer satisfaction continues to exceed $95,000.
4) Employee Moral and Satisfaction Benchmarks
A bonus will be payable based upon RMSG employee satisfaction. A survey will be
made of all RMSG employee to assess employee satisfaction. The survey shall be
designed such that employee satisfaction can be measured quantitatively as a
percentage. The survey shall be repeated at three month intervals. The current
survey results shall be compared to prior survey results and a bonus will be
payable as follow:
- $2,000 for each percentage point improvement in employee satisfaction
- a one time $10,000 bonus when employee satisfaction exceeds 80%
- a $2,500 bonus when employee satisfaction continues to exceed 80%
- a one time $15,000 bonus when employee satisfaction exceeds 95%
- a $5,000 bonus when employee satisfaction continues to exceed 95%.
Executive and PracticeXpert, Inc. have the right to evaluate the reasonableness
of the above benchmarks and to resolve in good faith any unreasonable results
prospectively.
