Exhibit 10.18
EMPLOYMENT AGREEMENT
This Employment At-Will agreement,
by and between National RV Holdings Inc. (National RV) and Joseph
Hansen (Employee), entered into this day of , 2004, by which the
parties agree as follows:
RECITALS
1
National RV is a California
corporation that is engaged in the business of Manufacturing
Recreational Vehicles. National RV is located in Perris, California
and Lakeland, Florida.
2
National RV desires to employ
Employee as its Chief Financial Officer after a training period of
approximately 30 days and upon the terms and conditions hereinafter
set forth and Employee desires to accept such employment upon the
terms set forth herein.
EMPLOYMENT COMPENSATION, TERMS AND
BENEFITS
Therefore, in consideration of the
mutual promises contained herein, the parties hereby agree as
follows:
I.
Employee’s compensation
agreement with National RV will be effective at the start of
employment, which is scheduled for 04-21-04
II.
Employee will perform such duties as
may be assigned orally or in writing by the President. While
performing the duties assigned, Employee shall:
A.
faithfully serve National RV to the
best of power, skills and ability;
B.
perform duties and obligations as
set forth in this Agreement in accordance with the highest
standards;
C.
at all times behave and conduct in
such a manner as will enhance National RV’s reputation,
and;
D.
at all times provide National RV
with all information required by National RV in connection with its
business.
E.
not, directly or indirectly, either
as an employee, employer, consultant, agent, principal, partner,
stockholder, corporate officer, director, or in any other
individual or representative capacity, perform services for any
other individual or business for compensation, or engage in any
other business or outside activity that would interfere with the
performance of his duties as described above without the written
permission of National RV.
III.
Employee compensation is as
follows:
A.
Employee will be afforded a weekly
salary of (salary exempt status) $3,846.16 (three thousand eight
hundred forty six and sixteen) for a total of $200,000 (two hundred
thousand dollars) annually. Employee will also be afforded
participation in National RV’s annual profit based incentive
plan as per Company incentive guidelines.
B.
Employee will be afforded 10,000
stock options in accordance with National RV’s stock option
policy.
C.
Employee will also be afforded
reimbursement of up to $10,000 (ten thousand dollars) for
relocation expenses. Employee agrees
1
to submit all invoices and receipts
relating to reimbursement.
Should Employee’s employment
terminate prior to the end of pay period then the weekly amount
will be pro-rated according to the day of termination.
IV.
Terms of Employment:
A.
Employee specifically agrees and
understands that employment with National RV is Employment At-Will.
Employee has the right to terminate their employment with National
RV at any time, for any reason or no reason, with or without prior
notice and further, that National RV has the same right to
terminate Employee’s employment at any time, for any reason
or no reason, with or without prior notice. No other person other
than the president may change this At-Will employment relationship
and such a change must be made in writing.
B.
“Just cause” is defined
as a termination of Employee’s employment by National RV due
to any of the following reasons: (i) the commission by
Employee of a criminal act arising from or related to his
employment with National RV; (ii) the failure of Employee to
comply with a material term of this Agreement; (iii) the
commission by Employee of any act of gross misconduct or gross lack
of judgment; (iv) gross neglect by Employee of his duties
under this Agreement; (v) a merger in which National RV is not
the surviving entity or a sale of all or substantially all of
National RV’s assets, or the liquidation winding up or
dissolution of National RV, or; (vi) when Employee, as a
result of an accident, illness, or disability, is unable to perform
his duties on behalf of National RV on a full time basis for a
period of thirty (30) consecutive calendar days.
C.
Since no contractual agreement
exists, if Employee’s employment is terminated for any reason
or At-Will of Employer, Employee’s salary will cease on the
date of termination.
V.
Benefits:
A.
In addition to the compensation
described above, Employee will be eligible to receive benefits as
they may be made available at the exclusive discretion of National
RV’s President. Such benefits may include, but are not
limited to, life, health, dental, vision insurance and retirement
plans. National RV is not obligated to provide or continue any of
these benefits and may, without any prior notice, discontinue any
benefit already provided or as may be provided in the future,
within the exclusive discretion of National RV except as
specifically itemized elsewhere in this agreement and provided by
law.
B.
In addition to the foregoing salary,
Employee is entitled to vacation as per vacation guidelines.
Employee will be eligible for 3 weeks vacation on first year and
beyond. The duration of time off to be determined to be reasonable
is the sole discretion of Company. As Employee’s position is
one of leadership, Employee is expected to exercise reasonable
judgment in their requests for time off considering the best
interests of the Corporation.
C.
National will provide machines,
equipment and accessories of its choosing for Employee’s
business use. The equipment, machines and accessories remain the
property of National RV.
2
D.
Employee will be eligible to enroll
in the National RV 401K plan after 1 year of service &
will be eligible to participate in employer’s designated
match after 2 years of service, however, since restrictions apply
based on 401K participation, Employee’s contributions may be
limited. It is strongly recommended that Employee consult a tax
professional prior to enrolling into National RV’s 401K
plan.
E.
Employee will be eligible to
participate in the Blue Cross Health HMO or PPO benefits package at
a cost of the standard single rate. Weekly contribution may vary
should modifications, changes or additions to the health benefit
plan be made or in the event that National RV’s rate
increases. Employee will be eligible for National RV’s health
insurance program effective on the first day of the month following
the hire date.
F.
National RV agrees to pay for
Employee’s continued education credits associated with
maintaining Law Degree and the annual Bar Association
fee.
VI.
Additional Terms:
A.
As a term and condition of
employment Employee will be required to sign the following
documents prior to the beginning of his employment: Employment
agreement, proprietary information agreement, employment
application, arbitration agreement, employment agreement,
reference/background authorization forms and acknowledgement of
receipt of company handbook. In addition this offer is contingent
upon Employee successfully passing a substance test and background
/ reference check.
B.
Confidential Information: Employee
recognizes and acknowledges that they will have access to certain
information regarding
