EMPLOYMENT AND NON-COMPETITION AGREEMENTEmployment and Non-Competition Agreement • June 14th, 2005 • Adaptec Inc • Computer communications equipment • California
This EMPLOYMENT AND NON-COMPETITION AGREEMENT (this "Agreement") is made by and among Adaptec, Inc. (the "Company"), a Delaware corporation and Eric Kelly ("Employee"). This Agreement is entered into in connection with the acquisition of Snap Appliance by the Company (the "Acquisition") pursuant to that certain Agreement and Plan of Merger among the Company, Snap Appliance, Snap Appliance Acquisition Corp., and James Caccavo as Representative, dated as of July 13, 2004, (the "Merger Agreement") and employment pursuant to this Agreement is contingent upon the occurrence of the Acquisition and shall not become effective until the date of the closing of such Acquisition (the "Employment Effective Date").
