EMPLOYMENT AGREEMENT
This
Employment Agreement (this "Agreement") is made effective as of January
08,
2007, by and between Cavico Corp ("Cavico"), of 00000 Xxxxx Xxxx,
Xxxxx 0000,
Xxxxxxxxxx Xxxxx, Xxxxxxxxxx, 00000 and Hai Xxxxx Xxxx ("Hai").
X.
Xxxxxx
is engaged in the business of Construction. Hai will primarily perform
the job
duties at the following location: 00000 Xxxxx Xxxx, Xxxxx 0000, Xxxxxxxxxx
Xxxxx, Xxxxxxxxxx.
X.
Xxxxxx
desires to have the services of Hai.
C.
Hai is
willing to be employed by Cavico.
Therefore,
the parties agree as follows:
1.
EMPLOYMENT.
Cavico
shall employ Hai as a(n) Vice President. Mr
Hai
shall provide to Cavico the service as the direct manager in Cavico
Viet Nam,
which is a subsidiary of Cavico Corporation. Hai accepts and agrees
to such
employment, and agrees to be subject to the general supervision,
advice and
direction of Cavico and Cavico's supervisory personnel. Hai shall
also perform
(i) such other duties as are customarily performed by an employee
in a similar
position, and (ii) such other and unrelated services and duties as
may be
assigned to Hai from time to time by Cavico.
2.
BEST EFFORTS OF EMPLOYEE.
Hai
agrees to perform faithfully, industriously, and to the best of Hai's
ability,
experience, and talents, all of the duties that may be required by
the express
and implicit terms of this Agreement, to the reasonable satisfaction
of Cavico.
Such duties shall be provided at such place(s) as the needs, business,
or
opportunities of Cavico may require from time to time.
3.
COMPENSATION OF EMPLOYEE.
As
compensation for the services provided by Hai under this Agreement, Mr
Hai
will receive salary from Cavico Viet Nam and will be paid on the
first day of
each month.
Upon
termination of this Agreement, payments under this paragraph shall
cease;
provided, however, that Hai shall be entitled to payments for periods
or partial
periods that occurred prior to the date of termination and for which
Hai has not
yet been paid, and for any commission earned in accordance with Cavico's
customary procedures, if applicable. Accrued vacation will be paid
in accordance
with state law and Cavico's customary procedures. This section of
the Agreement
is included only for accounting and payroll purposes and should not
be construed
as establishing a minimum or definite term of employment.
4.
EXPENSE REIMBURSEMENT. Cavico
will reimburse Hai for "out-of-pocket" expenses incurred by Hai in
accordance
with Cavico's policies in effect from time to time.
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5.
RECOMMENDATIONS FOR IMPROVING OPERATIONS.
Hai
shall provide Cavico with all information, suggestions, and recommendations
regarding Cavico's business, of which Hai has knowledge, that will
be of benefit
to Cavico.
6.
CONFIDENTIALITY.
Hai
recognizes that Cavico has and will have information regarding the
following:
-
inventions
-
products
-
product
design
-
processes
-
technical matters
-
trade
secrets
-
copyrights
-
customer lists
-
prices
-
costs
-
discounts
-
business affairs
-
future
plans
and
other
vital information items (collectively, "Information") which are valuable,
special and unique assets of Cavico. Hai agrees that Hai will not
at any time or
in any manner, either directly or indirectly, divulge, disclose,
or communicate
any Information to any third party without the prior written consent
of Cavico.
Hai will protect the Information and treat it as strictly confidential.
A
violation by Hai of this paragraph shall be a material violation
of this
Agreement and will justify legal and/or equitable relief.
7. UNAUTHORIZED
DISCLOSURE OF INFORMATION.
If it
appears that Hai has disclosed (or has threatened to disclose) Information
in
violation of this Agreement, Cavico shall be entitled to an injunction
to
restrain Hai from disclosing, in whole or in part, such Information,
or from
providing any services to any party to whom such Information has
been disclosed
or may be disclosed. Cavico shall not be prohibited by this provision
from
pursuing other remedies, including a claim for losses and damages.
8. CONFIDENTIALITY
AFTER TERMINATION OF EMPLOYMENT.
The
confidentiality provisions of this Agreement shall remain in full
force and
effect for a 1 year period after the termination of Hai's employment.
During
such 1 year period, neither party shall make or permit the making
of any public
announcement or statement of any kind that Hai was formerly employed
by or
connected with Cavico.
9.
VACATION.
Hai
shall be entitled to 14 of paid vacation for each completed year
of employment.
Such vacation must be taken at a time mutually convenient to Cavico
and Hai, and
must be approved by Cavico. Requests for vacation shall be submitted
to Hai's
immediate supervisor 14 days in advance of the requested beginning
date.
The
provisions of this Vacation section are subject to change in accordance
with
Cavico policies in effect from time to time.
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10.
SICK LEAVE. Hai
shall
be entitled to 6 day(s) paid time, due to illness or for personal
business, for
each year of employment, with the year to be measured using Hai's
starting date
as the point of beginning. Unused sick leave benefits as of December
31 of each
year may be converted into cash compensation at a rate of $25.00
per hour. Sick
leave may be accumulated from year to year up to a total of 6 days;
excess
amounts shall be forfeited.
All
requests for sick days off shall be made by Hai in accordance with
Cavico
policies in effect from time to time.
The
provisions of this Sick Leave section are subject to change in accordance
with
Cavico policies in effect from time to time.
11.
PERSONAL LEAVE. Hai
shall
be entitled to 6 day(s) unpaid time, for personal business or due
to illness,
for each year of employment, with the year to be measured using Hai's
starting
date as the point of beginning. Personal leave benefits may not be
converted
into cash compensation. Hai's rights to unused personal leave benefits
shall be
forfeited upon termination of employment. Personal leave may not
be accumulated
from year to year; unused benefits shall be forfeited.
All
requests for personal days off shall be made by Hai in accordance
with Cavico
policies in effect from time to time.
The
provisions of this Personal Leave section are subject to change in
accordance
with Cavico policies in effect from time to time.
12.
HOLIDAYS. Hai
shall
be entitled to the following holidays with pay during each calendar
year:
-
New
Year's Day
-
Memorial Day
-
4th of
July
-
Labor
Day
-
Thanksgiving Day
-
Christmas Day
The
provisions of this Holidays section are subject to change in accordance
with
Cavico policies in effect from time to time.
13.
INSURANCE BENEFITS.
Hai
shall be entitled to insurance benefits, in accordance with Cavico's
applicable
insurance contract(s) and policies, and applicable state law. These
benefits
shall include:
-
health
insurance
-
disability insurance
-
life
insurance
The
provisions of this Insurance Benefits section are subject to change
in
accordance with Cavico policies in effect from time to time.
Hai
shall
be able to participate in Cavico's pension plan in accordance with
the plan's
terms and the requirements of law.
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14.
TERM/TERMINATION.
Hai's
employment under this Agreement shall be for an unspecified term
on an "at will"
basis. This Agreement may be terminated by Cavico upon 30 days written
notice,
and by Hai upon 30 days written notice. If Hai is in violation of
this
Agreement, Cavico may terminate employment without notice and with
compensation
to Hai only to the date of such termination. The compensation paid
under this
Agreement shall be Hai's exclusive remedy.
15.
TERMINATION FOR DISABILITY.
Cavico
shall have the option to terminate this Agreement, if Hai becomes
permanently
disabled and is no longer able to perform the essential functions
of the
position with reasonable accommodation. Cavico shall exercise this
option by
giving 30 days written notice to Hai.
16.
COMPLIANCE WITH EMPLOYER'S RULES.
Hai
agrees to comply with all of the rules and regulations of Cavico.
17.
RETURN OF PROPERTY. Upon
termination of this Agreement, Hai shall deliver to Cavico all property
which is
Cavico's property or related to Cavico's business (including keys,
records,
notes, data, memoranda, models, and equipment) that is in Hai's possession
or
under Hai's control. Such obligation shall be governed by any separate
confidentiality or proprietary rights agreement signed by Hai.
18.
NOTICES. All
notices required or permitted under this Agreement shall be in writing
and shall
be deemed delivered when delivered in person or on the third day
after being
deposited in the United States mail, postage paid, addressed as
follows:
Employer:
Ha
Xxxxx
Xxx
CEO
&
Chairman
00000
Xxxxx Xxxx, Xxxxx 0000
Xxxxxxxxxx
Xxxxx, Xxxxxxxxxx 00000
Employee:
Hai
Xxxxx
Xxxx
Such
addresses may be changed from time to time by either party by providing
written
notice in the manner set forth above.
19.
ENTIRE AGREEMENT. This
Agreement contains the entire agreement of the parties and there
are no other
promises or conditions in any other agreement whether oral or written.
This
Agreement supersedes any prior written or oral agreements between
the
parties.
20.
AMENDMENT. This
Agreement may be modified or amended, if the amendment is made in
writing and is
signed by both parties.
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21.
SEVERABILITY. If
any
provisions of this Agreement shall be held to be invalid or unenforceable
for
any reason, the remaining provisions shall continue to be valid and
enforceable.
If a court finds that any provision of this Agreement is invalid
or
unenforceable, but that by limiting such provision it would become
valid or
enforceable, then such provision shall be deemed to be written, construed,
and
enforced as so limited.
22.
WAIVER OF CONTRACTUAL RIGHT. The
failure of either party to enforce any provision of this Agreement
shall not be
construed as a waiver or limitation of that party's right to subsequently
enforce and compel strict compliance with every provision of this
Agreement.
23.
APPLICABLE LAW. This
Agreement shall be governed by the laws of the State of California.
EMPLOYER:
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By:
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/s/
Ha Xxxxx Xxx
|
Date:
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Ha
Xxxxx Xxx
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CEO
& Chairman
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AGREED
TO AND ACCEPTED.
EMPLOYEE:
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/s/
Hai
Xxxxx Xxxx
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Date:
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Hai
Xxxxx Xxxx
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