EXHIBIT 10.4
EMPLOYMENT
AGREEMENT
THIS AGREEMENT is made this the 9th day of June,
2009, by and between Breda Telephone Corp., d/b/a Western Iowa
Networks, an Iowa Corporation, hereinafter referred to as "Breda,"
and Kevin D. Batcher, the Chief Operations Officer, hereinafter
referred to as "Kevin."
WHEREAS, the parties hereto desire to enter into
a mutual agreement wherein Breda shall employ Kevin as its Chief
Operations Officer.
WHEREAS, the parties hereto desire to enter into
an agreement based upon terms and conditions set forth
below.
NOW, therefore in consideration of the mutual
covenants and obligations hereinafter set forth, the parties agree
as follows:
1.
Employment and Duties. Breda employs Kevin in
the capacity of Chief Operations Officer. Kevin shall
perform such duties and such additional duties as may be assigned
to him by the Chief Executive Officer, or from time to time by the
Board of Directors.
2.
Term. The term of this Agreement shall begin on
July 1, 2009, and shall terminate on June 30, 2012.
3.
Compensation. During the term of this agreement,
Breda shall pay Kevin a salary and bonus as follows:
|
|
|
Salary. Kevin's yearly salary for the year
beginning July 1, 2009, to June 30, 2010, shall be
$101,660.00. Kevin's yearly salary for the years
beginning July 1, 2010, and July 1, 2011, shall be set by the Board
of Directors after receiving recommendations from the Chief
Executive Officer. Kevin's yearly salary for those years
will not be less than $101,660.00. Kevin's yearly salary
will be payable in accordance with Breda's regular payroll
procedures.
|
|
|
|
Bonus. If Kevin is employed on December
31 st of the calendar years of 2010 and 2011, he shall
be entitled to a bonus for each of those years. The
Board of Directors and the Chief Executive Officer shall set up a
procedure for the determination of this bonus. The final
determination as to the amount of the bonus rests solely with the
Board of Directors.
|
4.
Relocation Expenses. Breda shall pay for the
relocation expenses of Kevin, which relocation expenses shall
include packing and moving of household and personal
effects. Breda will also pay for a rental property in
Carroll County for up to eight weeks or until Kevin
closes on the sale of his home in Wisconsin, whichever occurs
first.
5.
Duties. Kevin shall devote his entire attention
and energy to the business and affairs of Breda and shall not be
engaged in any other business activity, whether or not such
business activity is for the pursuit of gain, profit or other
pecuniary advantages, unless Breda consents to Kevin's involvement
in such business activities. In this capacity, Kevin
shall be responsible for all the affairs and operations of the
company. Breda may, from time to time, extend or curtail
Kevin's precise services.
6.
Employee Benefits. Kevin shall be entitled to
any retirement benefits as offered by Breda to its other full time
employees. Kevin will receive health insurance for both
he and his wife, and all other employee benefits, a list of said
benefits is attached hereto and made a part hereof.
7.
Vacation. Kevin shall be entitled to four (4)
weeks paid vacation each year of this Agreement.
8.
Expenses. Kevin may incur reasonable expenses
for promoting Breda's business, including expenses for
entertainment, travel and similar items. Breda will
reimburse Kevin for all such expenses upon Kevin's periodic
presentation of the itemized account of such
expenditures.
9.
Termination Without Cause. Breda may terminate
this agreement at any time, without cause, by giving thirty (30)
days written notice to Kevin. In that event, if
requested by Breda, Kevin shall continue to render his services and
shall be paid his regular compensation up to the date of
termination.
|
