EXHIBIT 10.1
EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT by and between Silver King Resources, Inc. (Company)
and Xxxxx X. Xxxxx (Employee).
For good consideration, Company shall employ and the Employee agrees to
be employed on the following terms:
1. Effective Date:
2. Services for fees shall commence upon closing of the transactions
contemplated in the Agreement and Plan of Merger by and among Silver King
Resources, Inc., Silver King Acquisition, Inc. and eNexi Inc. and Principal
Stockholders of eNexi Inc., dated March 21, 2000.
3. Duties:
Employee agrees to perform the following duties:
Assist the Company in developing and implementing it's core
product and infrastructure, assist in the management of the
Company's staff and in the attainment of funding from outside
sources.
Employee shall also perform such further duties as are incidental
or implied from the foregoing, consistent with the background,
training and qualifications of Employee or may be reasonable
delegated as being in the best interests of the Company. The
Employee shall devote full time to his employment and expend best
efforts on behalf of the Company. Employee further agrees to abide
by all reasonable Company policies and decisions now or
hereinafter existing.
4. Term:
The Employee's employment shall continue for a period of one (1)
year(s), beginning upon closing of the transactions contemplated in
the Agreement and Plan of Merger by and among Silver King Resources,
Inc., Silver King Acquisition, Inc. and eNexi Inc. and Principal
Stockholders of eNexi Inc., dated March 21, 2000.
5. Compensation:
The Employee shall be paid the following compensation :
a. Annual Salary: $180,000, to be paid with the regularly
scheduled payroll.
b. Such bonuses, vacations, sick leave, retirement benefits
and expense accounts as stated in the Company manual for other
management personnel or as may be decided by the Company if said
items are discretionary with the Company.
6. Termination:
This agreement may be earlier terminated upon:
a. Death of Employee or illness or incapacity that prevents
Employee from substantially performing for six (6) continuous
months or in excess of 130 aggregate working days in any calendar
year.
b. Breach of agreement by Employee.
7. Renewal:
Should employee remain in the employ of the Company after the
termination date of this Agreement, the terms of this Agreement shall
remain in full force effect, except that the continued term of
employment shall be at the will of the parties, and can be ended at
any time, for any reason, by either party.
8. Miscellaneous:
a. Employee agrees to execute a non-compete agreement as
annexed hereto.
b. Employee agrees to execute a confidential information and
invention assignment agreement as annexed hereto.
c. Employee agrees that during the term of this agreement
and for a period of two (2) years thereafter, Employee will not:
i. Induce or attempt to induce any employee to leave
the Company's employ;
ii. Interfere with or disrupt the Company's
relationship with any of its employees;
iii. Solicit or employ any person employed by the
Company.
d. This agreement shall not be assignable by either party,
provided that upon any sale of this business by Company, the
Company may assign this agreement to its successor or employee
may terminate same.
e. In the event of any dispute under this agreement, it
shall be resolved through binding arbitration in accordance with
the rules of the American Arbitration Association.
f. This constitutes the entire agreement between the
parties. Any modification must be in writing.
Signed under seal this 19th day of May, 2000.
SILVER KING RESOURCES, INC.
/s/XXXXX XXXXX XXXXXX
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Xxxxx XxXxx Xxxxxx
/s/XXXXX XXXXX
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Xxxxx Xxxxx
