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 Hung Xxxx Xxxx ("Hung").
X.
Xxxxxx
is engaged in the business of Construction. Hung 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 Hung.
C.
Hung
is willing to be employed by Cavico.
Therefore,
the parties agree as follows:
1.
EMPLOYMENT.
Cavico
shall employ Hung as a(n) Vice President. Hung shall provide to
Cavico the
services described on the attached Exhibit A, which is made a part
of this
Agreement by this reference. Hung 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. Hung 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 Hung
from time to time by Cavico.
2.
BEST EFFORTS OF EMPLOYEE.
Hung
agrees to perform faithfully, industriously, and to the best of
Hung'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 Hung under this Agreement,
Cavico will
pay Hung an annual salary of $30,000.00 payable monthly on the
first day of each
month. Upon termination of this Agreement, payments under this
paragraph shall
cease; provided, however, that Hung shall be entitled to payments
for periods or
partial periods that occurred prior to the date of termination
and for which
Hung 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 Hung for "out-of-pocket" expenses incurred by Hung
in accordance
with Cavico's policies in effect from time to time.
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5.
RECOMMENDATIONS FOR IMPROVING OPERATIONS.
Hung
shall provide Cavico with all information, suggestions, and recommendations
regarding Cavico's business, of which Hung has knowledge, that
will be of
benefit to Cavico.
6.
CONFIDENTIALITY.
Hung
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. Hung agrees that Hung 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. Hung will protect the Information and treat it as strictly
confidential. A violation by Hung 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 Hung has disclosed (or has threatened to disclose)
Information in
violation of this Agreement, Cavico shall be entitled to an injunction
to
restrain Hung 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 Hung'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 Hung was formerly employed
by or
connected with Cavico.
9.
VACATION.
Hung
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 Hung,
and must be approved by Cavico. Requests for vacation shall be
submitted to
Hung'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. Hung
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 Hung'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 Hung 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. Hung
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 Hung's
starting date as the point of beginning. Personal leave benefits
may not be
converted into cash compensation. Hung'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 Hung 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. Hung
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.
Hung
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.
Hung
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.
Hung'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 Hung upon 30 days written notice. If Hung is in violation
of this
Agreement, Cavico may terminate employment without notice and with
compensation
to Hung only to the date of such termination. The compensation
paid under this
Agreement shall be Hung's exclusive remedy.
15.
TERMINATION FOR DISABILITY.
Cavico
shall have the option to terminate this Agreement, if Hung 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 Hung.
16.
COMPLIANCE WITH EMPLOYER'S RULES.
Hung
agrees to comply with all of the rules and regulations of Cavico.
17.
RETURN OF PROPERTY. Upon
termination of this Agreement, Hung 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 Hung's
possession or
under Hung's control. Such obligation shall be governed by any
separate
confidentiality or proprietary rights agreement signed by Hung.
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:
Ha
Xxxxx
Xxx
CEO
&
Chairman
00000
Xxxxx Xxxx, Xxxxx 0000
Xxxxxxxxxxx
Xxxxx, Xxxxxxxxxx 00000
Employee:
Hung
Xxxx
Xxxx
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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/s/
Ha Xxxxx Xxx
|
Date:
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Ha
Xxxxx Xxx
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CEO
& Chairman
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AGREED
TO AND ACCEPTED.
EMPLOYEE:
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/s/
Hung
Xxxx Xxxx
|
Date:
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Hung
Xxxx Xxxx
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