EXHIBIT 10.18
EMPLOYMENT AGREEMENT DATED APRIL 30, 1999 BY AND BETWEEN C2I AND XXXXX XXXXXX
[Letterhead of C2i Solutions, Inc.]
April 30, 1999
Xxxxx Xxxxxx
0000 Xxxxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
Dear Xxxxx:
This letter is the "Amendment" to your employment letter dated May 30, 1997,
which set forth the basic terms and conditions of your employment with Challenge
2000 International LLC, currently known as C2i Solutions, Inc. as a result of a
name change on September 30, 1997 ("C2i"). Effective as of March 23, 1999, your
employment letter is amended as follows:
17. TERMS OF EMPLOYMENT. If you are terminated for any reason,
-------------------
within a period of five years commencing on the date that you sign
this Agreement, other than cause you will receive two year's salary
continuation, payable in accordance with C2i's standard payroll
practices, in lieu of notice. If you are terminated with cause within
five years of the date that you sign this Agreement, you will receive
six month's salary continuation, payable in accordance with C2i's
standard payroll practices, in lieu of notice.
If you resign you shall not be entitled to salary continuation. Upon
any termination, or resignation, you shall be entitled to payment for
accrued vacation and for salary and bonuses accrued for service
actually rendered prior to the date of such termination.
For purposes of this Agreement "cause" shall mean (i) a willful
failure by you to substantially perform your duties, other than a
failure resulting from your complete or partial incapacity due to
physical or mental illness or impairment, or (ii) a willful act by you
which constitutes gross misconduct and which is materially injurious
to C2i.
All stock option grants to you of Common Stock of C2i Solutions, Inc.
will continue to vest with your continued employment. If your
employment is terminated by C2i during this five year period for any
reason other than cause you will then have a minimum of 60 days from
the termination date in which to exercise your options, in accordance
with the terms of the Option Agreements.
This Amendment dated April 30, 1999, and the employment letter dated May 30 1997
constitute the entire agreement between the parties. All prior agreements or
understandings, written or oral are superceded.
1
In order to confirm your acceptance of this Amendment, please sign and return
this letter no later than Friday, May 7, 1999, at 5:00 P.M. PDT. If there is
any matter in this letter, which you wish to discuss further, please do not
hesitate to speak to me.
Very truly yours,
C2i Solutions, Inc.
By: /s/ XXXX XXXXXXX XXXXXX, XX.
----------------------------
Xxxx Xxxxxxx Xxxxxx, Xx.
President/CEO
JAW/deh
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
I agree to the terms of employment set forth in this Amendment.
Dated: April 30, 1999
/s/ XXXXX XXXXXX
----------------
Xxxxx Xxxxxx
2
