EXHIBIT 6.5
Employment Agreement
This Employment agreement, dated as of August 3, 1998 between American Int.
Ind. Inc. (EDII) and Xxxx X. Xxxxx III (Xxxxx) shall govern the employment of
Xxxx X. Xxxxx III in the capacity of Chief Financial Officer of EDII and all
of its subsidiary and related companies.
Term - Xxxxx shall be employed by EDII beginning August 10, 1998, and
such employment shall continue for a "trial period" of six months until
February 10, 1999. At the end of such "trial period" the parties shall
either enter into a new employment agreement expected to provide for a
three year term, or in the event that either party desires to not enter
into such new employment agreement, a termination bonus of one month
salary shall be paid to Xxxxx and the relationship of the parties will
cease.
Bonus - Xxxxx shall be awarded the option to acquire 20,000 shares of
the common stock of EDII as of the date such employment commences, at
the closing bid price of such securities on that date, such option being
effective for a period of three years from the date of employment.
Compensation - Xxxxx shall be employed at an initial salary of $7,500
per month, payable in the manner customary for other employees, and
shall be provided group insurance and other employee benefits as are
customary for the employees of the Company.
Responsibilities and duties - Xxxxx shall be employed as the Chief
Financial Officer of the Company and all of its subsidiary and related
companies, and shall perform such duties as are customary in that
capacity, and such other duties as may be assigned to him by the Chief
Executive Officer or the Board of Directors, provided such duties are
appropriate for an officer employed in the capacity of Chief Financial
Officer.
Place of employment - The headquarters for performance of Xxxxx'x duties
shall be in the Houston area; however he may be required to travel to
other locations in the conduct of his duties. All expenses related to
such business travel shall be borne directly by the Company.
Termination - This Employment Agreement may be terminated by the Company
only in the event of the conviction of Xxxxx of a felony or his physical
disability, which would prevent him from performing substantially all of
the duties which would normally be expected of him. Xxxxx may terminate
this agreement by giving thirty days written notice.
Non-competition - Xxxxx shall not be involved in any capacity as an
officer, employee, partner, consultant or significant stockholder in any
other business venture which would compete with any of the Companies
affiliated with EDII during the term of this agreement.
Signed:
/s/ Xxxx X. Xxxxx III August 5, 1998
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Xxxx X. Xxxxx III - Employee
/s/ Xxxxxx Xxxx August 5, 1998
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Xxxxxx Xxxx - CEO - EDII
