EMPLOYMENT AGREEMENT
This
Employment Agreement (this "Agreement") is made effective as of January
08,
2007, by and between Cavico Corp ("Cavico"), of 00000 Xxxxx Xxxx, Xxxxx
0000,
Xxxxxxxxxx Xxxxx, Xxxxxxxxxx, 00000 and Ha Xxxxx Xxx ("Ha").
X.
Xxxxxx
is engaged in the business of Construction.Ha will primarily perform
the job
duties at the following location: 00000 Xxxxx Xxxx, Xxxxx 0000, Xxxxxxxxxx
Xxxxx, Xxxxxxxxxx.
X.
Xxxxxx
desires to have the services of Ha.
C.
Ha is
willing to be employed by Cavico.
Therefore,
the parties agree as follows:
1.
EMPLOYMENT.
Cavico
shall employ Ha as a(n) CEO. Ha shall provide to Cavico the services
described
on the attached Exhibit A, which is made a part of this Agreement by
this
reference. Ha accepts and agrees to such employment, and agrees to
be subject to
the general supervision, advice and direction of Cavico and Cavico's
supervisory
personnel.Ha shall also perform (i) such other duties as are customarily
performed by an employee in a similar position, and (ii) such other
and
unrelated services and duties as may be assigned to Ha from time to
time by
Cavico.
2.
BEST EFFORTS OF EMPLOYEE.
Ha
agrees to perform faithfully, industriously, and to the best of Ha's
ability,
experience, and talents, all of the duties that may be required by
the express
and implicit terms of this Agreement, to the reasonable satisfaction
of Cavico.
Such duties shall be provided at such place(s) as the needs, business,
or
opportunities of Cavico may require from time to time.
3.
COMPENSATION OF EMPLOYEE.
As
compensation for the services provided by Ha under this Agreement,
Cavico will
pay Ha an annual salary of $ 70000 payable monthly on the first day
of each
month. Upon termination of this Agreement, payments under this paragraph
shall
cease; provided, however, that Ha shall be entitled to payments for
periods or
partial periods that occurred prior to the date of termination and
for which Ha
has not yet been paid, and for any commission earned in accordance
with Cavico's
customary procedures, if applicable. Accrued vacation will be paid
in accordance
with state law and Cavico's customary procedures. This section of the
Agreement
is included only for accounting and payroll purposes and should not
be construed
as establishing a minimum or definite term of employment.
4.
EXPENSE REIMBURSEMENT. Cavico
will reimburse Ha for "out-of-pocket" expenses incurred by Ha in accordance
with
Cavico's policies in effect from time to time.
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5.
RECOMMENDATIONS FOR IMPROVING OPERATIONS.
Ha shall
provide Cavico with all information, suggestions, and recommendations
regarding
Cavico's business, of which Ha has knowledge, that will be of benefit
to
Cavico.
6.
CONFIDENTIALITY.
Ha
recognizes that Cavico has and will have information regarding the
following:
-
inventions
-
products
-
product
design
-
processes
-
technical matters
-
trade
secrets
-
copyrights
-
customer lists
-
prices
-
costs
-
discounts
-
business affairs
-
future
plans
and
other
vital information items (collectively, "Information") which are valuable,
special and unique assets of Cavico. Ha agrees that Ha will not at
any time or
in any manner, either directly or indirectly, divulge, disclose, or
communicate
any Information to any third party without the prior written consent
of Cavico.
Ha will protect the Information and treat it as strictly confidential.
A
violation by Ha of this paragraph shall be a material violation of
this
Agreement and will justify legal and/or equitable relief.
7. UNAUTHORIZED
DISCLOSURE OF INFORMATION.
If it
appears that Ha has disclosed (or has threatened to disclose) Information
in
violation of this Agreement, Cavico shall be entitled to an injunction
to
restrain Ha from disclosing, in whole or in part, such Information,
or from
providing any services to any party to whom such Information has been
disclosed
or may be disclosed. Cavico shall not be prohibited by this provision
from
pursuing other remedies, including a claim for losses and damages.
8. CONFIDENTIALITY
AFTER TERMINATION OF EMPLOYMENT.
The
confidentiality provisions of this Agreement shall remain in full force
and
effect for a 1 year period after the termination of Ha's employment.
During such
1 year period, neither party shall make or permit the making of any
public
announcement or statement of any kind that Ha was formerly employed
by or
connected with Cavico.
9.
VACATION.
Ha shall
be entitled to 14 of paid vacation for each completed year of employment.
Such
vacation must be taken at a time mutually convenient to Cavico and
Ha, and must
be approved by Cavico. Requests for vacation shall be submitted to
Ha's
immediate supervisor 14 days in advance of the requested beginning
date.
The
provisions of this Vacation section are subject to change in accordance
with
Cavico policies in effect from time to time.
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10.
SICK LEAVE. Ha
shall
be entitled to 6 day(s) paid time, due to illness or for personal business,
for
each year of employment, with the year to be measured using Ha's starting
date
as the point of beginning. Unused sick leave benefits as of December
31 of each
year may be converted into cash compensation at a rate of $25.00 per
hour. Sick
leave may be accumulated from year to year up to a total of 6 days;
excess
amounts shall be forfeited.
All
requests for sick days off shall be made by Ha in accordance with Cavico
policies in effect from time to time.
The
provisions of this Sick Leave section are subject to change in accordance
with
Cavico policies in effect from time to time.
11.
PERSONAL LEAVE. Ha
shall
be entitled to 6 day(s) unpaid time, for personal business or due to
illness,
for each year of employment, with the year to be measured using Ha's
starting
date as the point of beginning. Personal leave benefits may not be
converted
into cash compensation. Ha's rights to unused personal leave benefits
shall be
forfeited upon termination of employment. Personal leave may not be
accumulated
from year to year; unused benefits shall be forfeited.
All
requests for personal days off shall be made by Ha in accordance with
Cavico
policies in effect from time to time.
The
provisions of this Personal Leave section are subject to change in
accordance
with Cavico policies in effect from time to time.
12.
HOLIDAYS. Ha
shall
be entitled to the following holidays with pay during each calendar
year:
-
New
Year's Day
-
Memorial Day
-
4th of
July
-
Labor
Day
-
Thanksgiving Day
-
Christmas Day
The
provisions of this Holidays section are subject to change in accordance
with
Cavico policies in effect from time to time.
13.
INSURANCE BENEFITS.
Ha shall
be entitled to insurance benefits, in accordance with Cavico's applicable
insurance contract(s) and policies, and applicable state law. These
benefits
shall include:
-
health
insurance
-
disability insurance
-
life
insurance
The
provisions of this Insurance Benefits section are subject to change
in
accordance with Cavico policies in effect from time to time.
Ha
shall
be able to participate in Cavico's pension plan in accordance with
the plan's
terms and the requirements of law.
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14.
TERM/TERMINATION.
Ha's
employment under this Agreement shall be for an unspecified term on
an "at will"
basis. This Agreement may be terminated by Cavico upon 30 days written
notice,
and by Ha upon 30 days written notice. If Ha is in violation of this
Agreement,
Cavico may terminate employment without notice and with compensation
to Ha only
to the date of such termination. The compensation paid under this Agreement
shall be Ha's exclusive remedy.
15.
TERMINATION FOR DISABILITY.
Cavico
shall have the option to terminate this Agreement, if Ha becomes permanently
disabled and is no longer able to perform the essential functions of
the
position with reasonable accommodation. Cavico shall exercise this
option by
giving 30 days written notice to Ha.
16.
COMPLIANCE WITH EMPLOYER'S RULES.
Ha
agrees to comply with all of the rules and regulations of Cavico.
17.
RETURN OF PROPERTY. Upon
termination of this Agreement, Ha shall deliver to Cavico all property
which is
Cavico's property or related to Cavico's business (including keys,
records,
notes, data, memoranda, models, and equipment) that is in Ha's possession
or
under Ha's control. Such obligation shall be governed by any separate
confidentiality or proprietary rights agreement signed by Ha.
18.
NOTICES. All
notices required or permitted under this Agreement shall be in writing
and shall
be deemed delivered when delivered in person or on the third day after
being
deposited in the United States mail, postage paid, addressed as
follows:
Employer:
Xxxxx
Xxxx Xxxxx
Director,
Head of Compensation Committe
00000
Xxxxx Xxxx, Xxxxx 0000
Xxxxxxxxx
Xxxxx, Xxxxxxxxxx 00000
Employee:
Ha
Xxxxx
Xxx
Such
addresses may be changed from time to time by either party by providing
written
notice in the manner set forth above.
19.
ENTIRE AGREEMENT. This
Agreement contains the entire agreement of the parties and there are
no other
promises or conditions in any other agreement whether oral or written.
This
Agreement supersedes any prior written or oral agreements between the
parties.
20.
AMENDMENT. This
Agreement may be modified or amended, if the amendment is made in writing
and is
signed by both parties.
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21.
SEVERABILITY. If
any
provisions of this Agreement shall be held to be invalid or unenforceable
for
any reason, the remaining provisions shall continue to be valid and
enforceable.
If a court finds that any provision of this Agreement is invalid or
unenforceable, but that by limiting such provision it would become
valid or
enforceable, then such provision shall be deemed to be written, construed,
and
enforced as so limited.
22.
WAIVER OF CONTRACTUAL RIGHT. The
failure of either party to enforce any provision of this Agreement
shall not be
construed as a waiver or limitation of that party's right to subsequently
enforce and compel strict compliance with every provision of this
Agreement.
23.
APPLICABLE LAW. This
Agreement shall be governed by the laws of the State of California.
EMPLOYER:
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By:
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Date:
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Xxxxx
Xxxx Xxxxx
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Director,
Head of Compensation Committe
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AGREED
TO AND ACCEPTED.
EMPLOYEE:
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/s/
Ha
Xxxxx Xxx
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Date:
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Ha
Xxxxx Xxx
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