SONASOFT EXECUTIVE EXPLOYMENT AGREEMENT
SONASOFT
EXECUTIVE EXPLOYMENT AGREEMENT
Employment
Agreement, between Sonasoft, Corp., a California corporation, (the “Company”)
and Xxxx Xxxxxx, an individual (the “Employee”).
1. Employee
Agreement.
For good
consideration, the Company employees the Employee on the following terms and
conditions.
2. Term of
Employment.
Subject
to the provisions for termination set forth below this agreement will begin on
January 2, 2003, and continue for a period of six (6) years, unless sooner
terminated.
3. Salary.
The
Company shall pay Employee a salary in the amount of $12,500.00 per month,
subject to review for raise from time to time.
|
(a)
|
The
salary set forth above shall be paid to the Employee at regular payroll
periods. Employee shall also be entitled to such additional
benefits as may be approved by the Board of Directors at ant rime, and
from time to time.
|
|
(b)
|
Should
the Company not be able to pay the full amount of such salary, the amount
not paid shall accrue (the “Accrued Salary”) to be paid on the terms and
conditions set forth in the remainder of this
agreement.
|
4. Duties and
Position.
The
Company hires the Employee in the capacity of CEO/President of the
Company. As such, the Employee shall report directly to the Board of
Directors.
5. Employee to Devote Full Time
to Company.
The
Employee will devote full time, attention, and energies to the business of the
Company. Employee is not prohibited from making personal investments
in any other businesses provided those investments do not require active
involvement in the operation of said companies.
6. Confidentiality of
Proprietary Information.
Employee
agrees, during or after the term of this employment, not to reveal confidential
information, or trade secrets to any person, firm, corporation, or
entity. Should employee reveal threaten to reveal this information,
the Company shall be entitled to an injunction restraining the Employee from
disclosing same, or from rendering any services to any entity to whom said
information has been or is threatened to be disclosed the right to secure an
injunction is not exclusive, and the Company may pursue any other remedies it
has against the Employee for breach or threatened breach of this condition,
including the recovery of damages from the Employee.
7. Reimbursement of
Expenses.
The
Employee may incur reasonable expenses for furthering the Company’s business,
including expenses for entertainment, travel, and similar items. The
Company shall reimburse Employee for all business expenses after the Employee
presents an itemized account of expenditures, pursuant to Company
policy.
8. Vacation.
The
Employee shall be entitled to a yearly vacation of three (3) weeks.
9. Termination of
Agreement.
Without
cause, the Company may terminate this agreement at any time upon written notice
to the Employee. Employee may be required to perform his or her
duties and will be paid the regular salary to date of
termination. Upon such termination, Employee, shall be entitled to a
severance payment of sixty (60) months of salary at the rate, and with the
benefits, in effect at the date of termination.
If Employee resigns or is
terminated for cause, Employee shall be entitled to a severance payment of
twelve (12) months of salary at the rate, and with the benefits, in effect at
the date of termination. For Cause shall mean any of the following: (i) the
Employees theft, dishonesty, or falsification of any Company records; (ii) the
Employees improper use or disclosure of the Companys confidential or proprietary
information; (iii) any action by the Employee which has a detrimental effect on
the Companys reputation or business; (iv) the Employees failure or inability to
perform any reasonable assigned duties after written notice from the Company of,
and a reasonable opportunity to cure, such failure or inability;(v)any material
breach by the Employee of this employment agreement, which breach is not cured
pursuant to the terms of such agreement; or (vi) the Employees conviction of any
Criminal act which impairs the Employees ability to perform his or her duties
with the Company.
In addition to the
severance payments set out above, Employee shall be entitled to the Accrued
Salary as of the date of termination.
10. Effect on Prior
Agreements. This Agreement supersedes any prior agreement between the Company or
any predecessor of the Company and the Employee, except that this agreement
shall not affect or operate to reduce any benefit or compensation inuring to the
Employee of a kind elsewhere provided and not expressly provided in this
agreement. This agreement is also not intended in any way to affect Employees
rights as a shareholder.
11. Limited Effect of
Waiver by Company. Should Company waive breach of any provision of thisagreement
by the Employee, that waiver will not operate or be construed as a waiver of
further breach by the Employee.
12. Severability. If, for
any reason, any provision of this agreement is held invalid, all other
provisions of this agreement shall remain in effect.
13. Assumption of Agreement by
Successors and Assignees.
The
Company’s rights and obligations under this agreement will inure to the benefit
and be binding upon the Company’s successors and assignees.
14. Oral Modifications Not
Binding.
The
instrument is the entire agreement of the Company and the
Employee. Oral changes have not effect. It may be altered
only by a written agreement signed by the party against whom enforcement of any
waiver, change, modification, extension, or discharge is sought.
EXECUTED,
on the days and dates set forth below.
|
EMPLOYER
|
EMPLOYEE
|
|
Xxxx
Xxxxxx
|
|
|
By: /s/
|
/s/ Xxxx
Xxxxxx
|
|
Date: January
2, 2003
|
Date: January
2, 2003
|
FIRST
ADDENDUM TO
SONASOFT
EMPLOYMENT AGREEMENT
This First Addendum to Employment
Agreement is entered into by and between Sonasoft, Corp., a California
corporation, (the “Company”) and NAND KHANNA, an individual )the
“Employee”).
The Company and Employee hereby agree,
for valuable consideration, that the terms of the Employment Agreement between
the parties, a copy of which is attached hereto (the “Employment Agreement”), is
hereby extended until December, 2013.
All other terms and
conditions of the Employment Agreement shall remain the same.
EXECUTED, on the days and dates set
forth below.
|
EMPLOYER
|
EMPLOYEE
|
|
By: /s/
|
/s/ Nand
Khanna
|
|
Date:
|
Date:
|
