EMPLOYMENT AGREEMENT
EXHIBIT
10.12
EMPLOYMENT AGREEMENT
Employment
Agreement, between WECOSIGN
Inc (the "Company") and Xxxxx Xxxxxxxxxx (the "Employee").
1. For
good consideration, the Company employs the Employee on the following terms and
conditions.
2. Term of Employment. Subject to
the provisions for termination set forth below this agreement will begin on May
1st, 2009.
3. Salary. The Company shall pay
Employee a salary of $ 13, 900.00 per month,
for the services of the Employee, payable at regular payroll
periods. Payroll Periods are the 1st and the
15th
of each month.
4. Duties and Position. The
Company hires the Employee in the capacity of Chairman and CEO. The Employee's
duties may be reasonably modified by the Company's board of directors from time
to time.
5. Employee to Devote Full Time to
Company. The Employee will devote full time, attention, and energies to
the business of the Company, and, during this employment, will not engage in any
other business activity, regardless of whether such activity is pursued for
profit, gain, or other pecuniary advantage. Employee is not prohibited from
making personal investments in any other businesses provided those investments
do not require active involvement in the operation of said
companies.
6. Confidentiality of Proprietary
Information. Employee agrees, during or after the term of this
employment, not to reveal confidential information, or trade secrets to any
person, firm, corporation, or entity. Should Employee reveal or threaten to
reveal this information, the Company shall be entitled to an injunction
restraining the Employee from disclosing same, or from rendering any services to
any entity to whom said information has been or is threatened to be disclosed,
the right to secure an injunction is not exclusive, and the Company may pursue
any other remedies it has against the Employee for a breach or threatened breach
of this condition, including the recovery of damages from the
Employee.
7. Reimbursement of Expenses. The
Employee may incur reasonable expenses for furthering the Company's business,
including expenses for entertainment, travel, and similar items. The Company
shall reimburse Employee for all business expenses after the Employee presents
an itemized account of expenditures, pursuant to Company policy.
8. Vacation. The Employee shall
be entitled to a yearly vacation of TWO weeks at full pay, per
year.
9. Disability. In the event that
the Employee is prevented from performing his usual duties for a period of three
consecutive
months,
or for shorter periods aggregating more than four months in any 12 month period
by reason of physical or mental disability,
the
Company shall nevertheless continue to pay full salary up to and including the
last day of the third consecutive month of disability.
10. Termination of Employment and
Agreement. Without cause or reason the Company may terminate this
agreement and the employee at any time, for any reason, upon one day’s written
notice without financial penalty, or consequences.
11. Restriction on Post Employment
Compensation. For a period of one year after the end of
employment, the Employee shall not control, consult to or be employed by any
business similar to that conducted by the company, either by soliciting any of
its accounts or by operating within Employer's general trading
area.
12. Assistance in Litigation.
Employee shall upon reasonable notice, furnish such information and proper
assistance to the Company as it may reasonably require in connection with any
litigation in which it is, or may become, a party either during or after
employment.
13. Oral Modifications Not
Binding. This instrument is the entire agreement between the Company and
the Employee. Oral changes have no effect. It may be altered only by a written
agreement signed by the party against whom enforcement of any waiver, change,
modification, extension, or discharge is sought.
Signed
this 1st day of may 2009
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/s/
Xxxxx Xxxxxxxxxx
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/s/ Xxxxx
Xxxxxxxxxx
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Company
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Employee
Xxxxx Xxxxxxxxxx
CEO
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