Attached files
EXHIBIT
10.8
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1.
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Employment, Frank
Jakubaitis Duties and Acceptance
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1.1
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Company
hereby employs Frank Jakubaitis for the Term (as defined in Section 2
hereof) to render exclusive and full-time services in an executive
capacity as CEO and Chairman to WECOSIGN Inc and to the subsidiaries of
Company engaged in the business of [ WECOSIGN Inc ] and in connection
therewith to devote his best efforts to the affairs of the Company and to
perform such duties as Employee shall reasonable be directed to perform by
directors of the Company.
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1.2
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Employee
hereby accepts such employment and agrees to render such services.
Employee agrees to render such services at Company's offices located in
the [city of Santa Ana] area, but Employee will travel on temporary trips
to such other place or places as may be required from time to time to
perform his duties hereunder. During the Term hereof, Employee will not
render any services for others, or for Employee's own account, in the
business of [specify] and will not render any services to any supplier or
significant customer of Company.
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2.
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Term
of Employment
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2.1
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The
term of Employee's employment pursuant to this Agreement (the "Term")
shall begin on the date hereof of April 28th 2009, and shall end on May
15th 2013 subject to the provisions of Article 4 of this Agreement
providing for earlier termination of Employee's employment in certain
circumstances.
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3.
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Compensation
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3.1
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As
compensation for all services to be rendered pursuant to this Agreement to
or at the request of Company, Company agrees to pay Employee a salary at
the rate of $125,000.00 per annum, plus expenses and
entertainment cost. The Salary set forth hereinabove shall be payable in
accordance with the regular payroll practices of the Company for
executives. All payments hereunder shall be subject to the provisions of
Article 4 hereof.
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3.2
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Company
shall pay or reimburse Employee for all necessary and reasonable expenses
incurred or paid by Employee in connection with the performance of
services under this Agreement upon presentation of expense statements or
vouchers or such other supporting information as it from time to time
requests evidencing the nature of such expense, and, if appropriate, the
payment thereof by Employee, and otherwise in accordance with Company
procedures from time to time in
effect.
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3.1
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During
the Term, Employee shall be entitled to participate in any group
insurance, qualified pension, hospitalization, medical health and
accident, disability, or similar plan or program of the Company now
existing or hereafter established to the extent that he is eligible under
the general provisions thereof. Notwithstanding anything herein to the
contrary, however, Company shall have the right to amend or terminate any
such plans or programs.
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1
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4.
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Termination
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4.1
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Disability. If Employee shall be
prevented from performing Employee's usual duties for a period of 3
consecutive months, or for shorter periods aggregating more than 4 months
in any 12 month period by reason of physical or mental disability, total
or partial, (herein referred to as "disability"), Company shall
nevertheless continue to pay full salary up to and including the last day
of the third consecutive month of disability, or the day on which the
shorter periods of disability shall have equaled a total of 4 months, but
Company may at any time or times on or after such last day (but before the
termination of such disability), elect to terminate this Agreement upon
written notice to employee, effective on such 1st day, without further
obligation or liability to Employee, except for any compensation accrued
hereunder but not yet paid. If Company does not so elect, this Agreement
shall remain in full force and effect, except that Company shall not be
obligated to pay any compensation set forth in Article 3 hereof to
Employee during the remaining period of
disability.
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4.2
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Death. In the event of Employee's death
during the Term, this Agreement shall automatically terminate, except that
(a) Employee's estate shall be entitled to receive the compensation
provided for hereunder to the last day of the month in which Employee's
death occurs; and (b) such termination shall not affect any amounts
payable as insurance or other death benefits under any plans or
arrangements then in force or effect with respect to
Employee.
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4.3
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Specified Cause. Company may at any time
during the Term, by notice, terminate the employment of Employee for
malfeasance, misfeasance, or nonfeasance in connection with the
performance of Employee's duties, the cause to be specified in the notice
of termination
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Accepted
By WECOSIGN Inc
/s/
Frank
Jakubatis
Date :
April 10th, 2009
Accepted
by Employee
/s/
Frank
Jakubatis
Date :
April 10th, 2009
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