POE & BROWN, INC. EMPLOYMENT AGREEMENT
EXHIBIT 10.4(c)
XXX & XXXXX, INC.
THIS EMPLOYMENT AGREEMENT
is entered between XXX & XXXXX, INC., hereinafter called the “Company” and Xxxxxx Xxxxx, hereinafter called
“Employee”.
1. Definitions. “Company” means Xxx & Xxxxx, Inc. and with respect to
paragraph 8, hereof, also means its subsidiaries, affiliated companies and any company operated or supervised by the Company, as well as any successor
entity formed by merger or acquisition, including any company that may acquire a majority of the stock of Xxx & Xxxxx, Inc. “Employee”
means Xxxxxx Xxxxx and with respect to paragraph 9 hereof also means any company or business in which Employee has a controlling or managing
interest.
2. Employment. The Company hereby employs Employee upon the terms and conditions set
forth in this Agreement.
3. Term. The term of the Agreement shall be continuous until terminated by either party,
except that termination shall be subject to the provisions of paragraph 7, below.
4. Extent of Duties. Employee shall work full time for the Company and shall also perform
such other and selected duties as specified from time to time by the Company. Employee’s duties under this Agreement shall be rendered at the
office of the Company in Daytona Beach, or at such other branch offices as assigned by the Company. During the term of Employee’s employment under
this Agreement, Employee shall not, directly or indirectly, engage in the insurance business in any of its phases, either as a broker, agent,
solicitor, consultant or participant, in any manner or in any firm or corporation engaged in the business of insurance or reinsurance, except for the
account of the Company or as directed by the Company. Unless otherwise agreed, Employee shall devote all of Employee’s productive time to duties
outlined in this paragraph and shall not engage in any other gainful employment without written consent of the Company.
5. Compensation. (a) If the Employee is a Producer, then the
Company Producer Compensation System in effect and applicable at this time to the undersigned is the final determination of the compensation for the
Employee. Employee acknowledges that Employee has read and understands the provisions of the System, and understands that the System may be changed at
any time. Employee also understands that the Company Producer Compensation System is not a part of this Employment Agreement.
(b) If the
Employee is not a Producer, then Employee’s compensation shall be as agreed between Company and Employee from time to time.
6. Benefits. Employee shall be entitled to enjoy the same benefits and privileges as
conferred upon any other employees of comparable rank within the Company. This includes plans such as life and health insurance, sick pay, paid
vacation and employee discounts. Employee acknowledges that the applicable benefits have been explained to Employee. Employee understands that such
benefits are provided by the Company at the Company’s discretion and may be changed, increased, decreased or eliminated from time to
time.
7. Termination. The employment relationship memorialized by this Agreement may be
terminated by Company or Employee at any time, with or without cause. Termination of Employee’s employment under this Agreement shall not release
either Employee or the Company from obligations hereunder arising or accruing through the date of such termination nor from the provisions of paragraph
8 of this Agreement. On notice of termination of or by the Employee, the Company has the power to suspend the Employee from all duties on the date
notice is given, and to immediately require return of all professional documentation as described in the Agreement.
8. Confidential Information: Covenant Not to Solicit or Service Customers or Prospective Customers; Related
Matters.
(a) Employee recognizes and acknowledges that the Confidential Information (as hereafter defined) constitutes valuable,
secret, special, and unique assets of Company. Employee covenants and agrees that, during the term of this agreement and for a period of three years
following termination (whether voluntary or involuntary), he or she will not disclose the Confidential Information to any person, firm, corporation,
association, or other entity for any reason or purpose without the express written approval of Company and will not use the Confidential Information
except in Company’s business. It is expressly understood and agreed that the Confidential Information is the property of Company and must be
immediately returned to Company upon demand therefor. The term Confidential Information includes each, every, and all written documentation related to
Company, whether furnished by Company or compiled by Employee, including but not limited to: (1) lists of the Company’s customers, companies,
Company accounts and records pertaining thereto; (2) customer lists, prospect lists, policy forms, and/or rating information, expiration dates,
information on risk characteristics, information concerning insurance markets for large or unusual risks, and all other types of written information
customarily used by Company or available to the Employee; and (3) information known to Employee but not reduced to written or recorded
form.
(b) For a
period of three (3) years following termination (whether voluntary or involuntary), Employee specifically agrees not to solicit, accept, nor service,
directly or indirectly, as insurance solicitor, insurance agent, insurance broker, insurance wholesaler, managing general agent, or otherwise, for
Employees’ accounts or the accounts of any other agent, or broker, or insurer, either as officer, director, stockholder, owner, partner, employee,
promoter, consultant, manager, or otherwise any insurance or bond business of any kind or character from any person, firm, corporation, or other
entity, that is a customer or account of the Company during the term of this Agreement or from any prospective customer or
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account to whom the Company made proposals about which Employee had knowledge, or in which Employee participated during the last two years of Employee’s employment with Company. Should a court of competent jurisdiction declare any of the covenants set forth in this paragraph unenforceable due to an unreasonable restriction of duration, geographical area or otherwise, each of the parties hereto agrees that such court shall be empowered and shall grant Company injunctive relief reasonably necessary to protect its interest.
(c) Employee agrees that Company shall have the right to communicate the terms of this Agreement to any third parties,
including but not limited to, any past, present or prospective employer of Employee. Employee waives any right to assert any claim for damages against
Company or any officer, employee or agent of Company arising from disclosure of the terms of this Agreement.
(d) In the
event of the breach or threatened breach of the provisions of this paragraph, Company shall be entitled to injunctive relief as well as any other
applicable remedies at law or in equity. Employee understands and agrees that without such protection, Company’s business would be irreparably
harmed, and that the remedy of monetary damages alone would be inadequate.
9. Organizing Competitive Businesses; Soliciting Company Employees. Employee agrees that
so long as Employee is working for Company, Employee will not undertake the planning or organizing of any business activity competitive with the work
Employee performs. Employee agrees that Employee will not, for a period of two years following termination of employment with Company, directly or
indirectly solicit any of the Company’s employees to work for Employee or any other competitive company.
10. Protection of Company Property. All records, files, manuals, lists of customers,
blanks, forms, materials, supplies, computer programs and other materials furnished to the Employee by the Company, used by Employee on its behalf, or
generated or obtained by Employee during the course of Employee’s employment, shall be and remain the property of Company. Employee shall be
deemed the bailee thereof for the use and benefit of Company and shall safely keep and preserve such property, except as consumed in the normal
business operations of Company. Employee acknowledges that this property is confidential and is not readily accessible to Company’s competitors.
Upon termination of employment hereunder, the Employee shall immediately deliver to Company or its authorized representative all such property,
including all copies, remaining in the Employee’s possession or control.
11. Attorneys’ Fees. In the event of a dispute concerning the terms of this
Agreement, or arising out of the employment relationship created by this Agreement, the prevailing party shall be entitled to recover, in addition to
any other remedy obtained, all expenses and attorneys’ fees incurred.
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12. Notices. Any notices required or permitted to be given under this Agreement shall be
sufficient if in writing and if sent by Certified Mail to:
Employee
at: |
000 Xxxxxxxxx Xx. Xxxxxx Xxxxx, XX 00000 |
and to the Company
at: |
Xxx & Xxxxx, Inc. 000 X. Xxxxxxxxx Xxxxxx Xxxxxxx Xxxxx, XX 00000 Attn: Xxx Xxxxxxxxx Executive Vice President |
or such other address as either shall give to the other in
writing for this purpose.
13. Waiver of Breach. The waiver by either party of a breach of any provision of the
Agreement shall not operate or be construed as a waiver of any subsequent breach by the other party.
14. Entire Agreement. This instrument contains the entire agreement of the parties. All
contracts entered into which are dated prior to the Agreement are considered null and void. This Agreement may not be changed orally but only by an
agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is
sought.
15. Binding Effect. This Agreement shall be binding on and inure to the benefit of the
respective parties and their respective heirs, legal representatives, successors and assigns.
16. Interpretation. This Agreement shall not be construed or interpreted in a manner
adverse to any party on the grounds that such party was responsible for drafting any portion of it.
17. Waiver of Jury Trial. Employee and Company hereby knowingly, voluntarily and
intentionally waive any right either may have to a trial by jury with respect to any litigation related to or arising out of, under or in conjunction
with this Agreement, or Employee’s employment with the Company.
18. Assignment. Employee agrees that Company may assign this Agreement to any entity in
connection with any sale of some or all of Company’s assets or subsidiary corporations, or the merger by Company with or into any business
entity.
19. Governing Law. This Agreement shall be governed by and construed according to the
laws of the State of Florida, excluding laws related to conflicts of law.
IN WITNESS WHEREOF, the parties
have executed this Agreement on October 8, 1996.
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Witnesses: |
XXX & XXXXX, INC. |
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/s/ Xxxx Xxxxx |
By: /s/ Xxxxxxx X. Xxxxxxxx |
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Name: Xxxxxxx X. Xxxxxxxx |
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/s/ Xxxxxx
Xxxxxx As to Company |
Title: Senior Vice President |
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EMPLOYEE |
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/s/ X. Xxxxxx Xxxxx |
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/s/ Xxxx Xxxxx |
X. Xxxxxx Xxxxx |
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/s/ Xxxxxx
Xxxxxx As to Employee |
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