EMPLOYMENT AND ASSET PURCHASE AGREEMENT
Rapid Bio Tests Corporation, a Nevada corporation (formerly "Vitatonics
Corp.") ("Employer"), located at 0000 Xxx Xxxxxx, Xxxxxxxxxxx, Xxxxxx 00000, and
Xxxxxxxx X.X. Xxxxxx, Ph.D., ("Employee"), located at X.X. Xxx 00000, Xxxxxx,
Xxxxxx 00000 in consideration of the mutual promises made herein, agree as
follows:
ARTICLE 1. TERM OF EMPLOYMENT
SPECIFIED PERIOD
SECTION 1.01. Employer employs Employee and Employee accepts employment
with Employer for a period of two (2) years beginning on June 16, 2003 and
terminating on June 16, 2005.
"EMPLOYMENT TERM" DEFINED
SECTION 1.02. "Employment term" refers to the entire period of
employment of Employee by Employer, whether for the periods provided above, or
whether terminated earlier as hereinafter provided or extended by mutual
agreement between Employer and Employee.
ARTICLE 2. DUTIES AND OBLIGATIONS OF EMPLOYEE
GENERAL DUTIES
Section 2.01. Employee shall serve as the President and Chief Executive
Officer of Employer. In his capacity as President and Chief Executive Officer of
Employer, Employee shall do and perform all services, acts, or things necessary
or advisable to develop and implement Employer's diagnostic testing program, and
the technologies and know-how which constitute that program, including but not
limited to the latex-based technology which forms the backbone of the testing
program (collectively, "Rapid Bio Tests"), subject at all times to the policies
set by Employer's Board of Directors, and to the consent of the Board when
required by the terms of this contract.
MATTERS REQUIRING CONSENT OF BOARD OF DIRECTORS
SECTION 2.02. Employee shall not, without specific approval of
Employer's Board of Directors, do or contract to do any of the following:
(1) Borrow on behalf of Employer during any one fiscal year an amount
in excess of $10,000.00.
(2) Permit any customer of Employer to become indebted to Employer in
an amount in excess of $10,000.00.
(3) Purchase capital equipment for amounts in excess of the amounts
budgeted for expenditure by the Board of Directors.
(4) Sell any single capital asset of Employer having a market value in
excess of $10,000.00 or a total of capital assets during a fiscal year having a
market value in excess of $10,000.00.
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(5) Terminate the services of any employee or hire any replacement of
any employee whose services have been terminated.
(6) Commit Employer to the expenditure of more than $10,000.00 in the
development and sale of new products, services or technology.
DEVOTION TO EMPLOYER'S BUSINESS
SECTION 2.03. (a) Employee shall devote such portion of his productive
time, ability, and attention to the business of Employer as is reasonably
necessary to satisfy Employee's obligations pursuant to this agreement during
the term of this agreement.
(b) Provided Employee satisfies his obligations to Employer pursuant to
this agreement, Employee may engage in other business duties or pursuits, and
may directly or indirectly render services of a business, commercial, or
professional nature to other persons or organizations, whether for compensation
or otherwise, without the prior written consent of Employer's Board of
Directors; provided, however, that Employee must obtain the prior written
consent of Employer's Board of Directors before becoming an officer, director,
or principal shareholder of any business which competes directly with Employer,
and such consent may be withheld at the sole discretion of Employer's Board of
Directors. Moreover, the expenditure of reasonable amounts of time for
educational, charitable, or professional activities shall not be deemed a breach
of this agreement if those activities do not materially interfere with the
services required under this agreement and shall not require the prior written
consent of Employer's Board of Directors.
(c) This agreement shall not prohibit Employee from making passive
personal investments or conducting private business affairs if those activities
do not materially interfere with the services required under this agreement.
However, Employee shall not directly or indirectly acquire, hold, or retain any
interest in any business competing with or similar in nature to the business of
Employer without the prior written consent of Employer's Board of Directors.
COMPETITIVE ACTIVITIES
SECTION 2.04. (a) During the term of this contract and for a period of
one year following any termination of this agreement, Employee shall not,
directly or indirectly, either as an employee, employer, independent contractor,
agent, principal, partner, stockholder, corporate officer, director, or in any
other individual or representative capacity, engage or participate in any
business that is in competition in any manner whatsoever with the business of
Employer, except as otherwise agreed.
(b) Employee agrees that during the term of this contract and for a
period of one year after termination of this agreement, Employee shall not
directly or indirectly solicit, hire, recruit, or encourage any other employee
of Employer to leave Employer, except as otherwise agreed.
INDEMNIFICATION FOR NEGLIGENCE OR MISCONDUCT
SECTION 2.05. Employee shall indemnify and hold Employer harmless from
all liability for loss, damage, or injury to persons or property resulting from
the negligence or misconduct of Employee. Employer shall indemnify and hold
Employee harmless from all liability for loss, damage, or injury to persons or
property resulting from the negligence or misconduct of Employer.
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ASSIGNMENT OF TECHNOLOGY, KNOW-HOW, INTELLECTUAL PROPERTY
SECTION 2.06. Employee agrees that all designs, plans, reports,
specifications, drawings, inventions, processes, tests and other information or
items previously produced and developed by Employee concerning the development
and implementation of Rapid BioTests are hereby assigned to the Employer as the
sole and exclusive property of the Employer and the Employer's assigns, nominees
and successors, as will any copyrights, patents or trademarks which have been
previously obtained by Employee concerning the development and implementation of
Rapid BioTests. On request and at the Employer's expense, Employee agrees to
help the Employer take any and all action necessary to perfect the transfer of
the assets transferred hereunder to Employer. This includes providing data,
plans, specifications, descriptions, documentation, and other information, as
well as assisting the Employer in completing any required application or
registration. As consideration for the transfer of assets described in this
Section 2.06, Employee shall receive Twenty-one Million (21,000,000) shares of
Employer's common stock. Such stock will be subject to Rule 144 restrictions
and, as such, shall be considered "restricted securities" as that term is
defined in applicable state and federal regulations.
In transferring the assets described in this Section 2.06, Employee
makes the following representations and warranties:
(a) Employee has all requisite power and authority to execute and
deliver this agreement and those other agreements and instruments required to be
executed or delivered under this agreement, and to perform his obligations
hereunder, and this agreement has been duly executed and delivered by Employee
and constitutes, assuming due authorization, execution and delivery of this
agreement by Employee, and any other agreements to be executed and delivered by
Employee pursuant hereto, when fully executed and delivered, will constitute, a
valid and binding obligation of Employee enforceable against him in accordance
with their terms, except to the extent that enforcement thereof may be subject
to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance and similar laws now or hereafter affecting creditors' rights
generally and general principles of equity (regardless of whether enforceability
is considered in a proceeding at law or in equity).
(b) Neither the execution and delivery by Employee of this
agreement nor the performance by Employee of his obligations hereunder will (i)
result in (with or without the giving of notice or lapse of time or both) a
material violation or breach of, or constitute a default or give rise to any
right of termination, cancellation or acceleration under any of the terms,
conditions or provisions of any indebtedness, license, lease or contract or
similar instrument or obligation to which Employee, or by which any of the
assets transferred hereunder, may be bound; or (ii) violate any order,
injunction, decree, statute, rule or regulation of any federal, state, local or
foreign governmental entity or municipality or subdivision thereof or court,
tribunal, commission, board, bureau, agency or legislative, executive,
governmental or regulatory authority or agency to which Employee or the assets
transferred hereunder is subject.
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(c) Employee owns the assets transferred hereunder and has and
will deliver to Employer, good, valid and marketable title to, all of the assets
transferred hereunder, in each case, free and clear of all mortgages, pledges,
security interests, liens (including tax liens), charges, options or other
encumbrances of any nature whatsoever.
(d) No investigation or review by any governmental agency with
respect to the assets transferred hereunder is pending or threatened, nor has
any governmental agency indicated to Employee an intention to conduct the same.
There is no action, litigation or proceeding pending or threatened against or
affecting the transferred assets at law or in equity, or before any federal,
state, municipal, or other governmental department, commission, board, bureau,
agency, or instrumentality.
(e) Employee possesses full and complete ownership of, or adequate
and enforceable long-term licenses or other rights to use (without payment), all
of the assets transferred hereunder; Employee has not received any notice of
conflict which asserts the rights of others with respect thereto; and Employee
has in all material respects performed all of the obligations required to be
performed by him, and is not in default in any material respect, pursuant to any
agreement relating to any of the assets transferred hereunder.
NEW DEVELOPMENTS
SECTION 2.07. Employee agrees that all designs, plans, reports,
specifications, drawings, inventions, processes, tests and other information or
items produced by Employee concerning the development and implementation of the
Rapid BioTests will be assigned to the Employer as the sole and exclusive
property of the Employer and the Employer's assigns, nominees and successors, as
will any copyrights, patents or trademarks obtained by Employee while performing
services under this agreement concerning the development and implementation of
the Rapid BioTests. On request and at the Employer's expense, Employee agrees to
help the Employer obtain patents and copyrights for any new developments. This
includes providing data, plans, specifications, descriptions, documentation, and
other information, as well as assisting the Employer in completing any required
application or registration.
NON-DISCLOSURE OF PROPRIETARY AND CONFIDENTIAL INFORMATION BY EMPLOYEE
SECTION 2.08. During the term of this agreement, Employee will have
access to Corporation Proprietary Information (as used in this Section 2.08 of
this agreement, the term "Corporation Proprietary Information" shall mean and
include, without limitation, any and all marketing and sales data, plans and
strategies, financial projections, client lists, prospective client lists,
promotional ideas, data concerning the Employer's services, designs, methods,
inventions, improvements, discoveries, designs whether or not patentable,
"know-how", training and sales techniques, and any other information of a
similar nature disclosed to Employee or otherwise made known to Employee as a
consequence of or through this agreement during the term hereof. The term
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Corporation Proprietary Information shall not include any information that (i)
at the time of the disclosure or thereafter is or becomes generally available to
and known by the public, other than as a result of a disclosure by Employee or
any agent or representative of Employee in violation of this agreement, or (ii)
was available to Employee on a non-confidential basis from a source other than
the Employer, or any of the Employer's officers, directors, employees, agents or
other representatives) or other information and data of a secret and proprietary
nature which the Employer desires to keep confidential. Employee (and any of his
affiliates, related entities, partners, agents and/or employees) agrees and
acknowledges that the Employer has exclusive proprietary rights to all
Corporation Proprietary Information, and Employee hereby assigns to the Employer
all rights that he might otherwise possess in any Corporation Proprietary
Information. Except as required in the performance of Employee's duties to the
Employer, Employee will not at any time during or after the term hereof,
directly or indirectly use, communicate, disclose, disseminate, lecture upon,
publish articles or otherwise put in the public domain, any Corporation
Proprietary Information. Employee agrees to deliver to the Employer any and all
copies of Corporation Proprietary Information in the possession or control of
Employee upon the expiration or termination of this agreement, or at any other
time upon request by the Employer. The provisions of this section shall survive
the termination of this agreement.
TRADE SECRETS
SECTION 2.09. (a) The parties acknowledge and agree that during the
term of this agreement and in the course of the discharge of his duties
hereunder, Employee shall have access to and become acquainted with financial,
personnel, sales, scientific, technical and other information regarding
formulas, patterns, compilations, programs, devices, methods, techniques,
operations, plans and processes that are owned by Employer, actually or
potentially used in the operation of Employer's business, or obtained from third
parties under an agreement of confidentiality, and that such information
constitutes Employer's "trade secrets."
(b) Employee specifically agrees that he shall not misuse,
misappropriate, or disclose in writing, orally or by electronic means, any trade
secrets, directly or indirectly, to any other person or use them in any way,
either during the term of this agreement or at any other time thereafter, except
as is required in the course of his employment.
(c) Employee acknowledges and agrees that the sale or unauthorized use
or disclosure in writing, orally or by electronic means, of any of Employer's
trade secrets obtained by Employee during the course of his employment under
this agreement, including information concerning Employer's actual or potential
work, services, or products, the facts that any such work, services, or products
are planned, under consideration, or in production, as well as any descriptions
thereof, constitute unfair competition. Employee promises and agrees not to
engage in any unfair competition with Employer, either during the term of this
agreement or at any other time thereafter.
(d) Employee further agrees that all files, records, documents,
drawings, specifications, equipment, software, and similar items whether
maintained in hard copy or on line relating to Employer's business, whether
prepared by Employee or others, are and shall remain exclusively the property of
Employer and that they shall be removed from the premises or, if kept on-line,
from the computer systems of Employer, only with the express prior written
consent of Employer's Board of Directors.
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NON-COMPETITION AND NON-CIRCUMVENTION BY EMPLOYEE
SECTION 2.10. In consideration and recognition of the fact that
Employee has access to Corporation Proprietary Information under the terms and
provisions of this agreement and that the Employer will be introducing Employee
to various customers and potential customers, product manufacturers, retailers
and distributors, Employee represents, warrants and covenants to the Employer as
follows:
(a) Employee shall at no time disclose to any person,
without the Employer's prior written consent, any of
the terms, conditions or provisions specified in this
agreement unless such disclosure is lawfully required
by any federal governmental agency or is otherwise
required to be disclosed by law or is necessary in
any legal proceeding regarding the subject matter of
this agreement.
(b) During the term of this agreement, Employee shall not
circumvent the Employer for the purpose of
transacting any business with any person or entity
which business shall interfere with any relationship
whatsoever between such person or entity and the
Employer, or use any Corporation Proprietary
Information to compete with the business of the
Employer. Employee shall not solicit any of the
Employer's employees, independent contractors or
agents for employment. Employee shall not hire or
engage in any way, any enterprise or person that
competes with, or is engaged in a business
substantially similar to, the business of the
Employer.
(c) Employee shall not for a period of two (2) years
immediately following the termination of this
agreement with Employer, either directly or
indirectly (i) make known to any person, firm or
corporation the names or addresses of any of the
Employer's clients or any other information
pertaining to them or the Employer's products or
services; (ii) call on, solicit, or take away, or
attempt to call on, solicit or take away any of the
Employer's clients either on Employee's behalf or
that of another person, firm or corporation.
(d) Employee shall not, during the term hereof or for a
period of two (2) years following such term, enter
into an agreement or contract directly with any
manufacturer, retailer or distributor introduced to
Employee by the Employer for any services provided by
the Employer herein or for any similar services.
(e) Employee acknowledges and agrees that the
representations, warranties and covenants made by
Employee and set forth in this section are material
and that the Employer would not enter into this
agreement without Employee's making such
representations, warranties and covenants to the
Employer.
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(f) Employee acknowledges and agrees that any breach by
Employee of the representations, warranties and
covenants contained herein will cause irreparable
harm and loss to the Employer, which harm and loss
cannot be reasonably or adequately compensated in
damages in an action at law. Therefore, Employee
expressly agrees that, in addition to any other
rights or remedies which the Employer may possess,
the Employer shall be entitled to injunctive and
other equitable relief to prevent or remedy a breach
of the representations, warranties and covenants made
by Employee herein.
(g) The terms and provisions of this section shall
survive the termination of this agreement for a
period of two (2) years.
SERVICES AS EMPLOYEE
SECTION 2.11. Following the employment term, and if the employment term
has not been terminated for cause, Employee shall make his advice and counsel
available to Employer for such monthly periods as Employer shall specify, but in
no event more than one (1) year, for cash compensation in the amount of
$6,000.00 per month, payable on the first of each calendar month. The parties
agree that this advice and counsel shall not entail full time service but that
Employee will allocate reasonable time and attention to Employer's business
consistent with Employee's former allocation of Employee's time during the prior
term of this agreement.
ARTICLE 3. OBLIGATIONS OF EMPLOYER
GENERAL DESCRIPTION
SECTION 3.01. Employer shall provide Employee with the compensation,
incentives, benefits, and business expense reimbursement specified elsewhere in
this agreement.
INDEMNIFICATION OF LOSSES OF EMPLOYEE
SECTION 3.02. Employer shall indemnify Employee for all losses
sustained by Employee in direct consequence of the discharge of his duties on
Employer's behalf, except liability for loss, damage, or injury to persons or
property resulting from the negligence or misconduct of Employee.
ARTICLE 4. COMPENSATION OF EMPLOYEE
ANNUAL SALARY
SECTION 4.01. Cash Compensation. As compensation for the services to be
performed hereunder, for the first year of employment Employee shall receive a
salary at the rate of $72,000.00 per annum, payable on the first day of each
month during the employment term. Following the first year of employment and for
the term of this agreement, the salary shall be negotiated annually with the
board of directors but shall be no less than 110% of the previous year's salary.
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ARTICLE 5. EMPLOYEE INCENTIVES
SECTION 5.01. Stock Option. Employee shall be entitled to participate
in any stock option plan approved, adopted by Employer's Board of Directors and
approved, adopted and ratified by Employer's shareholders.
ARTICLE 6. EMPLOYEE BENEFITS
ANNUAL VACATION
SECTION 6.01. Employee shall be entitled to three weeks vacation time
each year with full pay. Employee may be absent from his employment for vacation
only at such times as Employer's Board of Directors shall determine from time to
time. If Employee is unable for any reason to take the total amount of
authorized vacation time during any year, he may, at his sole discretion, (i)
accrue that time and add it to vacation time for any following year, or (ii)
receive a cash payment in an amount equal to the amount of annual salary
attributable to that period.
ILLNESS
SECTION 6.02. Employee shall be entitled to 10 days per year as sick
leave with full pay. Sick leave may not be accumulated.
MEDICAL COVERAGE
SECTION 6.03. Employer agrees to include Employee in the coverage of
any insurance coverage offered to its other officers, including but not limited
to medical, major medical, hospital, dental, and eye care insurance; provided,
however, that Employer shall not be obligated to carry or provide any insurance
to Employee whatsoever.
ARTICLE 7. BUSINESS EXPENSES
REIMBURSEMENT OF OTHER BUSINESS EXPENSES
SECTION 7.01. (a) Employer shall promptly reimburse Employee for all
other reasonable business expenses incurred by Employee in connection with the
business of Employer; provided, however, that all reasonable business expenses
in excess of five hundred dollars ($500.00) must be pre-approved, in writing, by
the Employer's Board of Directors.
(b) Each such expenditure shall be reimbursable only if it is of a
nature qualifying it as a proper deduction on the federal and state income tax
return of Employer.
(c) Each such expenditure shall be reimbursable only if Employee
furnishes to Employer adequate records and other documentary evidence required
by federal and state statutes and regulations issued by the appropriate taxing
authorities for the substantiation of each such expenditure as an income tax
deduction.
REPAYMENT OF DISALLOWED EXPENSES
SECTION 7.02. In the event that any expenses paid for Employee or any
reimbursement of expenses paid to Employee shall, on audit or other examination
of Employer's income tax returns, be determined not to be allowable deductions
from Employer's gross income, and in the further event that this determination
shall be acceded to by the Employer or made final by the appropriate federal or
state taxing authority or a final judgment of a court of competent jurisdiction,
and no appeal is taken from the judgment or the applicable period for filing
notice of appeal has expired, Employee shall repay to Employer the full amount
of the disallowed expenses.
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ARTICLE 8. TERMINATION OF EMPLOYMENT
TERMINATION FOR CAUSE
SECTION 8.01. (a) Employer reserves the right to terminate this
agreement if Employee willfully breaches or habitually neglects the duties which
he is required to perform under the terms of this agreement; or commits such
acts of dishonesty, fraud, misrepresentation or other acts of moral turpitude as
would prevent the effective performance of his duties.
(b) Employer may at its option terminate this agreement for the reasons
stated in this Section by giving written notice of termination to Employee
without prejudice to any other remedy to which Employer may be entitled either
at law, in equity, or under this agreement.
(c) The notice of termination required by this section shall specify
the ground for the termination and shall be supported by a statement of relevant
facts.
(d) Termination under this section shall be considered "for cause" for
the purposes of this agreement.
TERMINATION WITHOUT CAUSE
SECTION 8.02. (a) This agreement shall be terminated upon the death
of Employee.
(b) Employer reserves the right to terminate this agreement within one
month after Employee suffers any physical or mental disability that would
prevent the performance of his essential job duties under this agreement, unless
reasonable accommodation can be made to allow Employee to continue working. Such
a termination shall be effected by giving 10 days' written notice of termination
to Employee.
(c) Termination under this section shall not be considered "for cause"
for the purposes of this agreement.
(d) If, during the term of this agreement, and in the event that
Employer ceases doing business, enters into receivership, becomes the subject of
a petition for bankruptcy or otherwise becomes unable to utilize the technology,
know-how, intellectual property or other intangible assets that are the subject
of this agreement or that are subsequently contributed by Employee to Employer
under the terms of this agreement, Employee shall have the right of first
refusal in repurchasing the rights to such technology, know-how, intellectual
property or other intangible assets from Employer.
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EFFECT OF MERGER, TRANSFER OF ASSETS, OR DISSOLUTION
SECTION 8.03. (a) This agreement shall not be terminated by any
voluntary or involuntary dissolution of Employer resulting from either a merger
or consolidation in which Employer is not the consolidated or surviving
corporation, or a transfer of all or substantially all of the assets of
Employer.
(b) In the event of any such merger or consolidation or transfer of
assets, Employer's rights, benefits, and obligations hereunder may only be
assigned to the surviving or resulting corporation or the transferee of
Employer's assets if Employee, in his sole discretion, agrees to such an
assignment in writing.
PAYMENT ON TERMINATION
SECTION 8.04. Notwithstanding any other provision of this agreement, if
Employer terminates this agreement without cause, or Employee does not consent
to the assignment specified in Section 8.03(b) above, Employer shall pay
Employee an amount equal to 1.5 years annual salary at the then current rate of
compensation.
ARTICLE 9. GENERAL PROVISIONS
NOTICES
SECTION 9.01. Any notices to be given hereunder by either party to the
other shall be in writing and may be transmitted by personal delivery or by
mail, registered or certified, postage prepaid with return receipt requested.
Mailed notices shall be addressed to the parties at the addresses appearing in
the introductory paragraph of this agreement, but each party may change that
address by written notice in accordance with this section. Notices delivered
personally shall be deemed communicated as of the date of actual receipt; mailed
notices shall be deemed communicated as of the date of mailing.
SEVERABILITY
SECTION 9.02. To the extent any provision of this agreement shall be
determined to be unlawful or otherwise unenforceable, in whole or in part, such
determination shall not affect the validity of the remainder of this agreement,
and this agreement shall be reformed to the extent necessary to carry out its
provisions to the greatest extent possible. In the absence of such reformation,
such part of such provision shall be considered deleted from this agreement and
the remainder of such provision and of this agreement shall be unaffected and
shall continue in full force and effect. In furtherance and not in limitation of
the foregoing, should the duration or geographical extent of, or business
activities covered by any provision of this agreement be in excess of that which
is valid and enforceable under applicable law, then such provision shall be
construed to cover only that duration, extent or activities which may validly
and enforceably be covered. To the extent any provision of this agreement shall
be declared invalid or unenforceable for any reason by any Governmental or
Regulatory Authority in any jurisdiction, this agreement (or provision thereof)
shall remain valid and enforceable in each other jurisdiction where it applies.
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Both parties acknowledges the uncertainty of the law in this respect and
expressly stipulate that this agreement shall be given the construction that
renders its provisions valid and enforceable to the maximum extent (not
exceeding its express terms) possible under applicable law.
ATTORNEYS' FEES AND COSTS
SECTION 9.03. If any legal action is necessary to enforce or interpret
the terms of this agreement, the prevailing party shall be entitled to
reasonable attorneys' fees, costs, and necessary disbursements in addition to
any other relief to which that party may be entitled. This provision shall be
construed as applicable to the entire contract.
ENTIRE AGREEMENT
SECTION 9.04. This agreement supersedes any and all other agreements,
either oral or in writing, between the parties hereto with respect to the
employment of Employee by Employer and contains all of the covenants and
agreements between the parties with respect to that employment in any manner
whatsoever. Each party to this agreement acknowledges that no representation,
inducements, promises, or agreements, orally or otherwise, have been made by any
party, or anyone acting on behalf of any party, which are not embodied herein,
and that no other agreement, statement, or promise not contained in this
agreement shall be valid or binding on either party.
MODIFICATIONS
SECTION 9.05. Any modification of this agreement will be effective only
if it is in writing and signed by the party to be charged.
EFFECT OF WAIVER
SECTION 9.06. The failure of either party to insist on strict
compliance with any of the terms, covenants, or conditions of this agreement by
the other party shall not be deemed a waiver of that term, covenant, or
condition, nor shall any waiver or relinquishment of any right or power at any
one time or times be deemed a waiver or relinquishment of that right or power
for all or any other times.
PARTIAL INVALIDITY
SECTION 9.07. If any provision in this agreement is held by a court of
competent jurisdiction to be invalid, void, or unenforceable, the remaining
provisions shall nevertheless continue in full force without being impaired or
invalidated in any way.
LAW GOVERNING AGREEMENT
SECTION 9.08. This agreement shall be governed by and construed in
accordance with the laws of the State of Nevada.
SUMS DUE DECEASED EMPLOYEE
SECTION 9.09. If Employee dies prior to the expiration of the term of
his employment, any sums that may be due him from Employer under this agreement
as of the date of death shall be paid to Employee's executors, administrators,
heirs, personal representatives, successors, and assigns.
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Executed on June 16, 2003 at Springfield, Oregon.
EMPLOYER
RAPID BIO TESTS CORPORATION
By: /s/ Xxxxxxxx X.X. Xxxxxx
-------------------------
Xxxxxxxx X.X. Xxxxxx
Its: President
By: /s/ Xxxx Xxxxxx
------------------------------
Xxxx Xxxxxx
Its: Secretary
EMPLOYEE
/s/ Xxxxxxxx X.X. Xxxxxx
------------------------
Xxxxxxxx X.X. Xxxxxx
