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EMPLOYMENT AGREEMENT
An Agreement entered into as of the 1st day of April, 2001 by and
between InMedica Development Corporation, a Utah Corporation ("Employer") and
Xxxxxxx Xxxxxxxxx (the "Employee").
WHEREAS the Employee is the Chief Financial Officerof the Employer; and
WHEREAS the Employer and Employee desire to formalize the compensation
arrangements and certain other aspects of their relationship;
THEREFORE, based on the promises contained herein, the parties agree as
follows:
1. Employer employs Employee to serve as its Chief Financial Officer
and Employee accepts such employment for a period of two years beginning April
1, 2001. Employee shall work part time under the direction of the Board of
Directors of the Employer.
2. In consideration of service as Chief Financial Officer, Employee
shall be paid the sum of $3,500 per month beginning April 1, 2001. Beginning
January 1, 2002, the monthly salary shall be increased to $4,000 through March
31, 2003.
3. If Employer's business warrants the full time utilization of
Employee's services, Employee may elect to increase his employment to a full
time basis for a monthly compensation and benefits to be negotiated in good
faith between the parties.
4. The Employee agrees to hold entirely confidential all trade secrets
and other confidential information that he receives in connection with
employment by Employer.
5. (a) This agreement contains the entire agreement between the parties
on the subject matter hereof and may only be changed or modified by a written
agreement between the parties.
(b) All notices or other communications under this agreement shall be
in writing, shall be deemed to have been legally given and delivered when hand
delivered or sent certified mail, return receipt requested, to the party to be
notified.
(c) In the event any provision or any part of any provision of this
agreement shall be held invalid, illegal or unenforceable, such holding shall
not affect any other provision or any part of the same provision which can be
given effect without the invalid provision or any part thereof.
(d) This agreement may be executed in one or more counterparts each of
which shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.
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(e) This agreement may not be assigned by either of the parties without
the prior written consent of the other.
DATED the 25th day of April, 2001.
INMEDICA DEVELOPMENT CORPORATION
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx
Its: President
By: /s/ Xxxxxxx Xxxxxxxxx
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Xxxxxxx Xxxxxxxxx
Employee