EXHIBIT 10.5
[AXXESS LOGO APPEARS HERE]
EMPLOYMENT AGREEMENT
This agreement is entered into between Axxess, Inc., d.b.a. Axxess
Communications, Inc., herein after known as "Axxess" and Xxxx Xxxxxx, herein
after known as "Xx. Xxxxxx".
Whereas, Axxess and Xx. Xxxxxx, as evidenced by the signed execution of this
Employment Agreement, agree to the following.
I. Xx. Xxxxxx will be employed by Axxess as of July 21, 1997 in the position
of "Managing Editor" at Axxess's place of business at 000 Xxxxxxx Xxx.,
Xxxxxxxxx Xxxxxxx, Xxxxxxx 00000. Xx. Xxxxxx'x responsibilities will include the
development, research, composition and editing of materials to be used for
editorial content for the various publications owned by Axxess. Additionally,
Xx. Xxxxxx will be responsible for managing any future editorial support staff
as well as third party contributing editors for Axxess.
II. Xx. Xxxxxx will be considered a full time, permanent employee for the
purposes of employee benefits as further described in the "Employee Manual".
III. Xx. Xxxxxx will receive a salary in the amount of $42,000.00 annually to be
paid on a semi-monthly basis.
IV. Xx. Xxxxxx will receive a supplement of $175 per month towards the purchase
of health insurance premiums until such time that Axxess can make available
group health insurance benefits to its employees. At such time, Axxess, Inc.
will then pay 100% of Xx. Xxxxxx'x personal premium and provide dependent
coverage as defined in the health insurance plan. Premiums for dependent
insurance will be the responsibility of Xx. Xxxxxx.
V. Xx. Xxxxxx will be entitled to paid sick leave and vacation as described in
the "Employee Manual" of Axxess. Accordingly, vacation is earned at the rate of
15 days per year, accrued monthly and subject to vesting and other conditions
described in the Employee Manual. Sick leave is granted at a minimum of 7 days
per annum.
VI. As an additional recruitment incentive, Xx. Xxxxxx will receive
compensation in the amount of 8,000 shares of common stock of Axxess, Inc.,
effective the date of employment and to be vested to Xx. Xxxxxx'x benefit on the
first anniversary of said employment. It is understood that shares of Axxess,
Inc. issued to Xx. Xxxxxx under this agreement are not registered and subject
to restriction under SEC rule 144.
VII. Either Axxess or Xx. Xxxxxx may terminate this agreement with 30 days prior
written notice to the other party. This agreement may not be modified in any way
without the expressed written consent of both parties.
Acknowledged:
/s/ Xxxx Xxxxxx 7/1/97 /s/ [Signature Appears Here] 7/1/97
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Employee date Axxess, Inc. Date
000 Xxxxxxx Xxx., Xxx. 0000-X
Xxxxxxxxx Xxxxxxx, Xxxxxxx 00000
Phone (000)000-0000 Fax (000)000-0000
xxx.xxxxxxxxx.xxx
