EXHIBIT 10.16
EMPLOYMENT AGREEMENT
(TRANSLATION OF FRENCH CONTRACT)
BETWEEN
NET4MUSIC S.A., a french Company with a share capital of 2,370,336 euro and
which registered office is located 00 xxx xx Xxxxxxxxx Xxxxxx xx Xxxxxxxxx
Xxxxxx (Xxxxxx), represented by its Chief Executive Officer Xx Xxxxxxxx DULIEGE
AND
Xx Xxxx XXXXXXX, domiciled 00 xxxxxx Xxxxxxxx 00000 Xxxxx
ARTICLE I :
Net4Music agrees to employ Xxxx Xxxxxxx in the position of Director for Sales
(Directeur Commercial).
Xxxx Xxxxxxx'x employment will shall no later than December 4, 2000.
During his employment, Xxxx Xxxxxxx will prepar the marketing policy directly
with the CEO.
Xxxx Xxxxxxx guarantees he won't have any other professional engagment at his
starting date and that the present contract does not enter in conflict with any
non-compete agreement.
ARTICLE II :
Xxxx Xxxxxxx will be paid a salary at an annual rate of FF 482.000 to be paid on
a monthly basis.
He will be eligible for travel compensation: Net4Music shall pay Xxxx Xxxxxxx a
daily indemnity of FF 6.500 per day outside France. In any case, this indemnioty
will not exceed 72 days per year.
Xxxx Xxxxxxx will also be eligible for an annual cash bonus (quaterly payable)
of FF 750.000 upon meeting certain goals and objectives. These goals and
objectives will be mutually agreed upon in writing between Xxxx Xxxxxxx and
management (see appendix).
This employment agreement should be discuss on the first anniversary of Xxxx
Xxxxxxx'x employment. If no arrangements can be found at this date the current
conditions shall continue to apply.
ARTICLE III :
Xxxx Xxxxxxx'x statut will be "cadre dirigeant" regarding his responsabilities.
His remuneration will be independent from the amount of time spent in the
company.
Xxxx Xxxxxxx will be a member of the Board of Directors (Comite de Direction).
ARTICLE IV :
During all his employment, Xxxx Xxxxxxx agrees to devote all of his normal
business time and attention to the affairs of Net4Music. This means that he will
not be avalaible for any other professionnal activities.
ARTICLE VI :
Xxxx Xxxxxxx agrees to keep confidential any information concerning Net4Music's
activities during his employment and after.
ARTICLE VII :
Non compete agreement
In order to protect Net4Music's interests, in case of termination of his
employment for any reasons, Xxxx Xxxxxxx agrees not to be part of a project
competeting with Net4Music activities, i.e. sheet music distribution and
services to music publishers (as an employee, a consultant, for himself or any
other company). For this contract, Music publishers include copyright management
companies and does not include audio music producers or audio music distributors
(labels).
This agreement does not depend on the cause of the end of the employment or on
its duration.
This non-compete agreement will last one year starting the first day following
the end of the employment.
During this non-compete period, Xxxx Xxxxxxx agrees to inform Net4Music of his
activies if asked.
In case of non-respect of this provision, Net4Music shall have the right to xxx
Xxxx Xxxxxxx and to claim payment of indemnity for the prejudice.
ARTICLE VIII :
Net4Music will afford the cost of the present contract (legal fees).
ARTICLE IX :
On termination for cause, the company's obligations to Xxxx Xxxxxxx shall end.
"For cause" means "faute grave" as defined by the french laws.
If the employment with Net4Music is terminated without cause, Xxxx Xxxxxxx will
be eligible for a severance package equivalent to 6 monthes of his target salary
(six monthes basis salary plus six monthes target bonus).
During the 12 first monthes of his employment, the package will be equal to 12
monthes of target salary.
ARTICLE X
Miscelleanous
This contract has been made in and shall be governed by and constructed in the
french laws.
ARTICLE X :
Professional fees will be refund by Net4Music by providing supporting documents.
ARTICLE XI :
Xxxx Xxxxxxx should give warning 3 monthes before leaving the company.
Done in Levallois Perret (France)
On September 24, 2000
In two original copies
For Net4Music Xx Xxxx XXXXXXX
Xx Xxxxxxxx DULIEGE
