EMPLOYMENT AGREEMENT
Exhibit 10.2
This Agreement is dated September 7, 2022, between Xxxxxx Xxxxxxxx, further referred to as the (“Employee”) and Boon Industries Inc., further referred to as the (“Company”).
RECITALS
Whereas the company desires to enter into this employment agreement with the employee appointing the Employee as COO, Director and Treasurer, and
Whereas, both parties have reviewed this agreement and any/all documents delivered pursuant hereto, and have taken such additional steps and reviewed such additional documents and information as deemed necessary to make an informed decision to enter into this Agreement, and
Whereas, both parties desire to make certain representations, warranties, and agreements in connection herewith under the following terms and conditions:
AGREEMENT
Therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
Job Description: The chief operating officer (COO) is a senior executive that oversees the day-to-day administrative and operational functions within the organization. The COO will report directly to the chief executive officer (CEO). The employee will assist the CEO with the day to day operations of the company. The employee is appointed as a Director on the company’s Board of Directors and will assist the Chairman in such related duties.
Term: The term of this agreement is for a period of one year and renewable with consent on an annual basis.
Compensation: Salary: the employee will receive an annual salary of $100,000 to be paid in equal monthly installments. Any unpaid salary may be accrued and converted to Preferred Series A shares of the company.
Stock: Upon execution of this Agreement the company will issue to the employee $50,000 of Preferred Series A shares.
Confidentiality: The provisions of this Agreement are confidential and private and are not to be disclosed to outside parties (except on a reasonable need to know basis only) without the express, advance consent of all parties hereto or by order of a court of competent authority.
The employee agrees and acknowledges that during this agreement in the performance of his duties and responsibilities that he will come into possession or knowledge of information of a confidential nature and/or proprietary information of company.
Such confidential and/or proprietary information includes but is not limited to the following of company, its agents, contractors, employees and all affiliates: corporate and/or financial information and records of company or any client, customer or associate of company; information regarding artists or others under contract, or in contact with, company; customer information; client information; shareholder information; business contacts, investor leads and contacts; employee information; documents regarding company website and any company product, including intellectual property.
The employee represents and warrants to the company that he will not divulge confidential, proprietary information of company to anyone or anything without the advance, express consent of company, and further will not use any proprietary information of company for his or anyone else’s gain or advantage during and after the term of this agreement.
Further Representations and Warranties: The employee acknowledges that this is an employment position and represents that he will perform his duties and functions herein in a timely, competent, and professional manner. The employee represents and warrants that he will be fair in his dealing with company and will not knowingly do anything against the interests of company and its shareholders.
Survival of Warranties and Representations: The parties hereto agree that all warranties and representations of the parties survive the closing of this transaction.
MISCELLANEOUS PROVISIONS
Expenses: Each party shall bear its respective costs, fees and expenses associated with the entering into or conducting its obligations under this Agreement. Unless otherwise such expense is approved in writing by the company.
Indemnification: Any party, when an offending party, agrees to indemnify and hold harmless the other non- offending parties from any claim of damage of any party or non-party arising out of any act or omission of the offending party arising from this Agreement.
Breach: In the event of a breach of this Agreement, ten (10) days written notice (from the date of receipt of the notice) shall be given. Upon notice so given, if the breach is not so corrected, the non-breaching party may take appropriate legal action per the terms of this Agreement.
Assignment: This Agreement is assignable only with the written permission of the company.
Amendment: This Agreement is the full and complete, integrated agreement of the parties, merging and superseding all previous written and/or oral agreements and representations between and among the parties, and is amendable in writing upon the agreement of all concerned parties. All attachments hereto, if any, are deemed to be a part hereof.
Interpretation: This Agreement shall be interpreted as if jointly drafted by the parties. It shall be governed by the laws of the State of California applicable to contracts made to be performed entirely therein.
Arbitration: If the parties cannot settle a dispute between them in a timely fashion, either party may file for arbitration within California. Arbitration shall be governed by the rules of the American Arbitration Association. The arbitrator(s) may award reasonable attorney fees and costs to the prevailing party. Either party may apply for injunctive relief or enforcement of an arbitration decision in a court of competent jurisdiction within California.
Counterparts: This Agreement may be executed in counterparts each of which shall be deemed an original and all of which together shall constitute the same agreement. Facsimile signatures shall be considered as valid and binding as original signatures.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date first written above.
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9/7/2022 | |
Xxxxxxx Xxxx, CEO and Chairman | Date | |
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9/7/2022 | |
Xxxxxx Xxxxxxxx, Employee | Date |