Employment Agreement
Employment Agreement this first day of June 1999 by and
between Micro Interconnect Technology Inc, a Nevada
corporation ("Employer") and N. Xxxxxx Xxxx (Employee")
Employer employs the Employee and the Employee accepts
employment, upon the terms conditions and covenants as
follows:
1. The term of the employment shall be from June1,1999 to
June 1, 2000.
2. Employee shall receive, for services rendered, a salary
of $50,000. Per year, payable $ 4166.66. Per month. Salary
payments shall be subject to withholding and other
applicable deductions. Any Health Insurance costs for the
company's plan will be paid fully by the Employer. It is
intended that the employee may be hired by an appropriate
employee company. Fees charged by the employee company and
their normal health insurance fees will be paid by the
Employer.
3. Duties of the employee shall be to serve as the Chief
Executive Officer (President) of the Employer. Employee
shall devote , on average, 30 hours per week to the
attention of the Employers business.
4. Employee shall have an office, facilities and services
that are suitable to the position and appropriate for the
performance of Employee's duties.
5. Employer shall reimburse Employee for all reasonable
expenses incurred in the performance of Employee's business,
e.g. entertainment, travel, etc. Employee will be
reimbursed upon submission of an itemized account of such
expenditures with receipts where practicable.
6. Employee shall be entitled to 4 weeks of paid vacation
each year.
7. If employee is unable to perform Employee's duties by
reason of illness or incapacity for a consecutive period of
more than 6 weeks, the compensation payable after the
aforesaid shall be $3,125. per month. Upon return to full
employment, full compensation shall be reinstated.
8. Notwithstanding any provision in this Employment
Agreement to the contrary, if Employee is unable to perform
or is absent from employment for a period of more than 5
months, Employer may terminate this Employment Agreement,
without further cause, and all obligations of Employer
hereunder shall terminate.
9. This employment agreement may not be terminated by either
party except as in 8. above
10. In the event the Employee dies during the term of
Employment, Employer shall pay to Employee's estate the
salary that would otherwise be payable to the end of the
month in which the Employee died and as a death benefit a
sum equal to $3,000.
11. All disputes that arise in connection with this
Agreement and that are not settled by the parties themselves
shall be submitted to arbitration in accordance with the
Rules and Regulations of the American Arbitration
Association. All costs of arbitration shall be divided
equally between the parties, and the parties agree to abide
by the award. The unsuccessful party in arbitration shall
be required to pay the other party's attorney's fees.
12. Any notice required to be given shall be either:
(i) personally delivered or (ii) sent by U.S. Postal
Service, postage pre-paid, Certified Mail, Return Receipt
Requested to the Employer at the place of employment and to
the Employee at the last residence address given to and on
file with the Employer.
13. A waiver of a breach of any provision of this Employment
Agreement shall not operate or be construed as a waiver of
any subsequent breach.
14. The services of the Employee are personal and unique and
therefore Employee may not assign this Employment Agreement
nor delegate the duties and obligations hereunder except in
the normal course of business.
15. This Employment Agreement contains the entire
understanding of the parties, except as may be set forth in
writing signed by the parties.
INTENDING TO BE LEGALLY BOUND, the parties have executed
this Employment Agreement as of the date first above
written.
MICRO INTERCONNECT TECHNOLOGY, Inc.
BY____________________________________, Secretary
Employer
_______________________________________
Employee N. Xxxxxx Xxxx
