This EMPLOYMENT AGREEMENT ("Agreement") is effective as of this ___ day
of_________, 19__ (the "Effective Date"), by and between SGI International., a
Utah Corporation ("SGI"), and __________, an individual ("Employee").
In consideration of the mutual agreements and the promises herein contained, the
parties hereto agree as follows:
1. Employment. SGI hereby employs Employee and Employee hereby accepts
employment with SGI on the terms and conditions set forth in this Agreement.
2. Term of Employment. The term of this Agreement shall commence on the
Effective Date and continue until terminated, which may be done by either party
at any time on fourteen (14) days written notice to the other party.
3. Duties. Employee shall devote his full productive time to the duties assigned
to him. AFull productive time" is hereby defined as that time reasonably
necessary to perform his required duties in a timely manner, but not less than
forty (40) hours per week, for fifty-two (52) weeks per year, less holidays,
sick leave, and vacation time in accordance with the then-prevailing policies of
SGI.
4. Compensation. In consideration of Employee=s performing the duties described
herein, SGI agrees to compensate employee as set forth in Exhibit A, attached
hereto and incorporated herein, payable on the fifteenth and the last day of
each month. Employee shall also be covered by SGI's Group Medical Insurance, and
such other group benefits granted to employees pursuant to the then prevailing
policies of SGI.
Employee shall also receive:
(a) As incentive compensation, such bonuses and benefits as SGI's Board of
Directors, in its sole discretion, shall determine.
(b) As further incentive compensation, SGI Warrants in an amount to be decided
in the sole discretion of SGI=s Board of Directors.
(c) Reimbursement of reasonable business expenses incurred by Employee in
accordance with SGI=s policies.
(d) Compensation shall be reviewed by SGI and Employee at least annually.
5. Integration. This Agreement shall not be modified or amended, except by a
writing signed by both parties.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
at La Jolla, California.
SGI International Employee Name
0000 Xxxxxxxx Xxxxxx, Xxx. 325 Address
La Jolla, CA 92037 City, State Zip
By: /s/ Xxxxxx X. Xxxxxx Employee
--------------------------- Signature
Xxxxxx X. Xxxxxx Name
Chairman/CEO
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