Exhibit 10.1
EMPLOYMENT AGREEMENT
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AGREEMENT MADE this 1st day of October 2008, between PISMO
COAST
VILLAGE, INC., a California corporation, having its principal
place of business at 165 South Dolliver, Pismo Beach,
California,
hereinafter referred to as "EMPLOYER" and Jay N. Jamison, 17105
Oak Road, Atascadero, CA 93422, hereinafter referred to as
"EMPLOYEE."
1. TERM OF EMPLOYMENT: The Employer hereby employs
the
Employee and the Employee hereby accepts
employment with the
Employer for a period of five (5) years
beginning on the 1st
day of October 2008, and ending on the 30th day
of September
2013, with a renewable option for an additional
five year
period, unless earlier terminated as hereinafter
provided.
2. DUTIES OF EMPLOYEE: The Employee is hereby hired as
General
Manager of PISMO COAST VILLAGE, INC., located at
165 South
Dolliver, Pismo Beach, California, and at such
other place or
places as may be directed by the Employer. The
Employee will
be responsible for the orderly daily operation
of the
business, properties and staff of PISMO COAST
VILLAGE, INC.,
and will report directly to the President. In
addition, he
will implement proper methods of operation,
i.e., policies,
advertising, cost and cash flow control, money
management,
record keeping and adherence to budget levels,
as designated
by the Board of Directors. Notwithstanding the
foregoing or
any other provision of this Agreement, Employee
shall not,
without the specific direction of the President,
do or
contract for any of the following:
a. Borrow any amount or sum of money on behalf
of the
Employer without authorization
from the Board of
Directors.
b. Make expenditures or purchase capital
equipment in excess
of the amount budgeted by the
Board of Directors.
c. Sell any single capital asset of the Employer
having a
market value in excess of One
Thousand Dollars ($1000) or
a total of capital assets
during a fiscal year having a
market value in excess of Ten
Thousand Dollars ($10,000).
d. Hire any employee for a term in excess of one
(1) year, or
offer any written employment
contracts except as approved
by the Board of Directors. The
duties of the Employee may
be changed from time to time
by mutual consent of the
Employer and the Employee
without resulting in recision of
this Agreement.
e. File any legal claim on behalf of the
Corporation without
approval of the Board of
Directors.
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3. COMPENSATION OF EMPLOYEE: As compensation for
services
rendered under this Agreement, the Employee
shall be entitled
to receive from the Employer a salary of One
Hundred Twenty-
Six Thousand, Six Hundred Seventy-Two Dollars
($126,672) per
year payable in equal
