EXHIBIT 10.20
EMPLOYMENT AGREEMENT
This Employment Agreement dated this 1st day of June, 2002 sets forth
the terms and conditions of employment between Xxxxx' Ribs International, Inc.
(herein referred to as the "Company') and Xxxxx X. Xxxxxxxx (herein referred to
as the "Employee").
1. Position. The Employee's position is Chairman, Chief Executive
Officer and President of the Company
2. Employment; Compensation. The company hereby employs or continues to
employ employee as an employee, on the terms and conditions set forth
herein, and Employee accepts such employment. Employee's employment and
compensation may be terminated by the Company at any time, with or
without cause. The Board of Directors of the Company or its designee
hereunder shall determine Employee's salary and compensation for
services.
The Employee will receive an annual salary $120,000.00 payable
consistent with company policy, which currently is in twenty-six equal
payments. Additionally, the Employee will receive:
a) Company car with monthly lease payments not to exceed $550.00.
Company to pay for all costs of car;
b) The Company will pay all business related expenses. Company will
provide Employee with a Company credit card;
c) Employees compensation may be reviewed by the Company at any
time but no less one per year.
3. Duties and Responsibilities. Employee shall devote best efforts to
the duties and responsibilities assigned by the Company, and shall
abide by this Agreement and the Company's Operations Policies. The
Employee will receive the title of Chairman, Chief Executive Officer
and President of the Company and report directly to the Board of
Directors of the Company.
4. Confidential Information. Employee shall not disclose to any person
whatsoever or use any trade secrets or Confidential information of the
Company. This paragraph shall be effective during the term hereof and
for one (1) year after termination of employment.
5. Company Property. Employee shall, upon request of the Company, and
without request promptly on termination of employment, deliver all
Company Property in Employee's possession or control to the Company.
Employee acknowledges and agrees that title to all Company Property is
vested in the Company.
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6. Assignability. The services to be performed by Employee pursuant to
the Agreement are unique and accordingly, Employee shall not have the
power to assign this Agreement or Employee's performance of Employee's
duties and obligations pursuant to this Agreement. The Employer has the
right to assign this agreement.
7. Choice of Law. This Agreement may be executed in one or more
counterparts, each of which shall be deemed original, but all of which
shall together constitute one and the same instrument. The Agreement
shall be governed by and construed and enforced in accordance with the
laws of the State of Florida. The parties agree that any disputes
concerning the interpretation, validity, enforceability, and to
exercise any remedies from an alleged breach hereof shall be
adjudicated in the Superior Court for the county where the Seller's
principal executed office is located at the time of the dispute, or the
applicable district and division of a federal court having venue for
disputes in the same county.
8. Entire Agreement. This Agreement contains the entire understanding
and agreement between the parties and all promises, representations,
warranties or inducements made by either party to the other, not
specifically made in writing or made a part hereof by reference, or
expressly superseded and should have no force or effect whatsoever.
This Agreement may not be amended except in writing signed by both
parties.
9. Binding Effect. This Agreement shall be governed by the laws of the
State of Florida and shall be binding upon and inure to the benefit of
each respective party's heirs, successors, legal representatives,
executors and assigns.
Signed this 1st day of June, 2002
THE COMPANY
XXXXX' RIBS INTERNATIONAL, INC.
By: /s/ Xxxxx Xxxxxxxx
---------------------------------
Member of Board of Directors
THE EMPLOYEE
/s/ Xxxxx Xxxxxxxx
Xxxxx X. Xxxxxxxx
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