Back to top

EMPLOYMENT AGREEMENT

Employee Retention Agreement

EMPLOYMENT AGREEMENT | Document Parties: Premier Energy Corp | PREMIER ENERGY, INC You are currently viewing:
This Employee Retention Agreement involves

Premier Energy Corp | PREMIER ENERGY, INC

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: EMPLOYMENT AGREEMENT
Governing Law: New York     Date: 2/2/2009

EMPLOYMENT AGREEMENT, Parties: premier energy corp , premier energy  inc
50 of the Top 250 law firms use our Products every day

Exhibit 10.2

 

 

PREMIER ENERGY, INC.

14785 Preston Road, Suite 550

Dallas, TX 75254

 

 

MR. ALEXEY VLADIMIROVICH GOLESHEV

3-9 Donskaya st. Moscow, Russia 117049

Tel.: 7(495) 959-82-81

Mobile +7916 238 0394

E-mail: berrings@mail.ru

 

 

EMPLOYMENT AGREEMENT

 

 

This Agreement made as of this 30th day of January 2009, by and among Alexey Goleshev of Moscow, Russia (“Employee”) and Premier Energy Corp., a Florida corporation with offices in Dallas, Texas   (the “Company”).

 

Whereas, The Board of Directors of the Company recognizes Employee’s potential contribution to the growth and success of the Company and desires to assure the Company of Employee’s employment in an executive capacity as Chief Financial Officer and to compensate him for his services in performing in that capacity, the parties agree to the following terms and conditions of employment.

 

Employee wants to be employed by the Company and to commit himself to serve the Company on the terms herein provided.

 

NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of the parties, the parties agree as follows:

 

1.  Definitions.

 

“Benefits” shall mean all the fringe benefits approved by the Board from time to time and established by the Company for the benefit of employees generally and/or for key employees of the Company as a class, including, but not limited to, regular holidays, vacations, absences resulting from illness or accident, health insurance, disability and medical plans (including dental and prescription drug), group life insurance, and pension, profit-sharing and stock bonus plans or their equivalent.

 

“Board” shall mean the Board of Directors of the Company, together with an executive committee thereof (if any), as same shall be constituted from time to time.

 

“Cause” for termination shall mean (i) Employee’s final conviction of a felony involving a crime of moral turpitude, (ii) acts of Employee which, in the judgment of the Board, constitute willful fraud on the part of Employee in connection with his duties under this Agreement, including but not limited to misappropriation or embezzlement in the performance of duties as an employee of the Company, or willfully engaging in conduct materially injurious to the Company and in violation of the covenants contained in this Agreement, or (iii) gross misconduct, including but not limited to the willful failure of Employee either to (a) continue to obey lawful written instruction of the Board after thirty (30) days notice in writing of Employee’s failure to do so and the Board’s intention to terminate Employee if such failure is not corrected, or (b) correct any conduct of Employee which constitutes a material breach of this Agreement after thirty (30) days notice in writing of Employee’s failure to do so and the Board’s intention to terminate Employee if such failure is not corrected.

 

1


 

“Chairman” shall mean the individual designated by the Board from time to time as its chairman.

 

“Chief Executive Officer” shall mean the individual having responsibility to the Board for the operational affairs of the Company and who reports and is accountable only to the President and the Board.

 

“Employee” shall mean addressee and, if the context requires, his heirs, personal representatives, and permitted successors and assigns.

 

“Company” shall mean Company, a Florida corporation, together with such subsidiaries of the Company as may from time to time exist.

 

“Territory” means the Russian Federation.

 

2. Position, Responsibilities, and Term of Employment .  This Section shall not restrict the Employee from any employment activity for which he is currently engaged.

 

2.01 Position. Employee shall serve as Chief Financial Officer and in such additional management position(s) as the Board shall designate. In this capacity Employee shall, subject to the bylaws of the Company, and to the direction of the Board and the Chief Executive Officer, serve the Company by performing such duties and carrying out such responsibilities as are normally related to the position of Chief Financial Officer in accordance with the standards of the industry.  The term of this agreement is for 24 months.

 

2.02 Best Efforts Covenant. Employee will, to the best of his ability, devote his full professional and business time and best efforts to the performance of his duties for the Company and its subsidiaries and affiliates.

 

2.03 Exclusivity Covenant. During the Agreement’s term, Employee will not undertake or engage in any other employment, occupation or business enterprise other than a business enterprise in which Employee does not actively participate. Further, Employee agrees not to acquire, assume, or participate in, directly or indirectly, any position, investment, or interest in the Territory adverse or antagonistic to the Company, its business or prospects, financial or otherwise, or take any action towards any of the foregoing. The provisions of this Section shall not prevent Employee from owning shares of any competitor of the Company so long as such shares (i) do not constitute more than 5% of the outstanding equity of such competitor, and (ii) are regularly traded on a recognized exchange or listed for trading by NASDAQ in the over-the-counter market.

 

2


 

2.04 Post-Employment Noncompetition Covenant. Except with the prior written consent of the Board, Employee shall not engage in activities in the Territory either on Employee’s own behalf or that of any other business organization, which are in direct or indirect competition with the Company for a period of one (1) year subsequent to Employee’s voluntary withdrawal from employment with the Company (except for a termination pursuant to a Change in Control), or the Company’s termination of Employee’s employment for Cause. Employee and the Company expressly declare that the territorial and time limitations contained in this Section and the definition of “Territory” are entirely reasonable at this time and are properly and necessarily required for the adequate protection of the business and intellectual property of the Company. If such territorial or time limitations, or any portions thereof, are deemed to be unreasonable by a court of competent jurisdiction, whether due to passage of time, change of circumstances or otherwise, Employee and the Company agree to a reduction of said territorial and/or time limitations to such areas and/or periods of time as said court shall deem reasonable.  For a period of one year subsequent to Employee’s voluntary withdrawal from employment with the Company (except for a termination pursuant to a Change in Control), or the Company’s termination of Employee’s employment for Cause, Employee will not without the express prior written approval of the Board (i) directly or indirectly, in one or a series of transactions, recruit, solicit or otherwise induce or influence any proprietor, partner, stockholder, lender, director, officer, employee, sales agent, joint venturer, investor, lessor, supplier, customer, agent, representative or any other person which has a business relationship with the Company or had a business relationship with the Company within the twenty-four-(24) month period preceding the date of the incident in question, to discontinue, reduce, or modify such employment, agency or business relationship with the Company, or (ii) employ or seek to employ or cause any business organization in direct or indirect competition with the Company to employ or seek to employ any person or agent who is then (or was at any time within six months prior to the date the Employee or the competitive business employs or seeks to employ such person) employed or retained by the Company. Notwithstanding the foregoing, nothing herein shall prevent the Employee from providing a letter of recommendation to an employee with respect to a future employment opportunity.

 

2.05 Confidential Information. Employee recognizes and acknowledges that the Company’s trade secrets and proprietary information and know-how, as they may exist from time to time (“Confidential Information”), are valuable, special and unique assets of the Company’s business, access to and knowledge of which are essential to the performance of Employee’s duties hereunder. Employee will not, during or after the term of his employment by the Company, in whole or in part, disclose such secrets, information or know-how to any Person for any reason or purpose whatsoever, nor shall Employee make use of any such property for his own purposes or for the benefit of any Person (except the Company) under any circumstances during or after the term of his employment, provided that after the term of his employment these restrictions shall not apply to such secrets, information and know-how which are then in the public domain (provided that Employee was not responsible, directly or indirectly, for such secrets, information or processes enteri


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more