Exhibit 10(b)
Employment Agreement
This Employment Agreement (this "Agreement") is made effective as of May 1,
1997, by and between Sytron., Inc. ("the Company") of Broomfield, Colorado, and
Private Capital Group Ltd. ("the Consultant"), of Boulder, Colorado for the
services of Xxxxxxx Xxxxxxxx.
WHEREAS:
(1) Company desires to have the services of Consultant.
(2) Consultant is willing to be employed by Company.
Therefore, the parties agree as follows:
1. Employment. Consultant shall serve as C.E.O. of Sytron, Inc.
Consultant's duties shall include, but not be limited to general, stock
transaction and financing management. Consultant shall also perform reasonable
additional duties for Company and subsidiary companies as reasonably required by
Company.
2. Compensation. Consultant's base wages will be $104,546 per year plus an
automobile to be provided by the company. The wages shall continue as a minimum
through the term of this agreement unless increased by Company.
3. Term/Termination. Consultant's employment under this Agreement shall
continue through January 1, 2000. Consultant may not be terminated by Company
during this term except in the event of malfeasance by Consultant. If Company
determines that Consultant has committed an act of malfeasance in the
performance of his employment, Company shall provide Consultant with 15 days
notice of its intent to terminate Consultant's employment and shall provide
Consultant with an opportunity to explain the action which the Company has
determined is malfeasance. Company shall in good faith consider Consultant's
explanation in determining whether to terminate Consultant's employment for
malfeasance.
4. Applicable Law. This Agreement shall be governed by the laws of the
State of Colorado.
Agreed and accepted:
Company: Consultant:
Sytron, Inc. Private Capital Group, Ltd.
by: /s/ Xxxxxx Xxxxxx by: /s/ Xxxxx Xxxxxxxx
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Xxxxxx Xxxxxx, President Xxxxx Xxxxxxxx
Dated: 5/1/1997 Dated: 5/1/1997
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