EXHIBIT 10.4
EMPLOYMENT AGREEMENT
Made on the 3rd day of April, 1997 by and between Xxxxxxx Xxxxxxx, Inc. dba
American Home Mortgage, dba American Brokers Conduit, 00 X. 00xx Xxxxxx, Xxx
Xxxx, XX, (the "Employer") and Xxxxxx Xxxxx, 000-00 Xxxxx Xxxxxx, Xxxxxx Xxxxx,
XX 00000, (the "Employee") .
WHEREAS, the Employer is engaged in business as a mortgage banker; and
WHEREAS, the Employee seeks employment with the Employer as a Corporate
Controller;
Now, therefore, in consideration of the mutual promises set forth herein,
IT IS AGREED, by and between the Employer and the Employee as follows:
1. Employment. The Employer hereby employs the Employee, and the Employee
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hereby accepts employment upon the terms and conditions of this Agreement.
2. Duties. The Employee shall perform services for the Employer as a
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Corporate Controller, through the precise manner in which those duties are to be
performed and their extent and the precise title of the Employee will rest
within the sole discretion of the Employer. The Employee shall devote his entire
time, attention and energy in furtherance of the business of the Employer, and
shall not engage in any other business activity during the term of this
Agreement.
3. Term. The term of this Agreement shall commence on April 21, 1997, and
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shall continue until terminated by either party upon two weeks written notice to
the other party.
4. Compensation. The Employer shall pay the Employee for all services
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rendered a salary of $130,000 per year payable in weekly installments.
5. Waiver No waiver by the Employer of a breach of any provision this
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Agreement by the Employee shall operate or be construed as a waiver of any
subsequent breach by the Employee. No waiver shall be valid unless it is in
writing signed by the Employer.
Employer Initials [Initials Appears Here]
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Employee Initials [Initials Appears Here]
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6. Assignment The Employee acknowledges that his services are unique and
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personal, and that he may not assign his rights or delegate his duties
hereunder. This Agreement shall inure to the benefit of any successor or assign
of the Employer.
7. Applicable Law. This Agreement shall be construed in accordance with the
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laws of the State of New York for agreements entered into and to be wholly
preformed therein.
8. Entire Agreement. This Agreement supercedes all prior agreements, and
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contains the entire understanding of the parties hereto. It may only be modified
in writing signed by the Employer.
Xxxxxxx Xxxxxxx, Inc.
dba American Home Mortgage
dba American Brokers Conduit
By: /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
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