Exhibit 10.21
EMPLOYMENT AGREEMENT
This Employment At-Will agreement,
by and between National RV Holdings, Inc. (National RV) and
Thomas Martini (Employee), entered into this 11 day of May, 2005,
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 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
promotion, which is 5-11-05. II. Employee will perform such duties
as may be assigned orally or in writing by the Chief Executive
Officer. 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 quarter profit based incentive
plan as per Company incentive guidelines.
B.
Employee will be entitled to
participate in the Company stock option plan in accordance with
National RV’s stock option policy.
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
1
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.
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:
C.
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.
D.
In addition to the foregoing salary,
Employee is entitled to vacation as per vacation guidelines.
Employee will be eligible for 3 weeks of accrued vacation annually.
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.
E.
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.
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.
C.
Employee will be eligible to
participate in the Blue Cross Health HMO 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.
Vl.
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.
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B.
Confidential Information: Employee
recognizes and acknowledges that they will have access to certain
information regarding National RV and that such information is
confidential and constitutes valuable, special and unique property
of National RV. The parties agree that National RV has a legitimate
interest in protecting the Confidential Information, as defined
below. The parties agree that National RV is entitled to protection
of its interests in the Confidential Information. Employee shall
not at any time, either during or subsequent to the term of this
Agreement, disclose to others, use, copy or permit to be copied,
except in pursuance of his duties for and on behalf of National RV,
it successors, assigns or nominees, any Confidential Information of
National RV (regardless of whether developed by Employee) without
the prior written consent of Natio
