EMPLOYMENT AGREEMENT
This Employment Agreement, by and between MODAVOX, INC., a Delaware
corporation ("Modavox") and Xxxxx X. Xxxxxxxx ("Xxxxxxxx"), is effective as of
the date the Certificate of Merger relating to the merger of Kino Interactive,
LLC into Modavox is filed with and accepted by the Delaware Secretary of State
(the "Effective Date"). Modavox and Xxxxxxxx are sometimes referred to
individually as the "Party" and collectively as the "Parties."
In consideration of the mutual benefits to be derived from this Agreement
and of the representations, warranties, conditions and promises hereinafter
contained, the Parties hereby agree as follows:
1. ENGAGEMENT.
1.1 EMPLOYMENT TERM. Modavox will employ Xxxxxxxx and Xxxxxxxx will
accept such employment, for a period commencing on the Effective
Date and ending on December 31, 2008 (the "Term"), unless sooner
terminated under the circumstances set forth in Sections 6 and 8
below.
1.2 DUTIES AND RESPONSIBILITIES. During the Term and any extensions
thereof, Modavox will employ Xxxxxxxx in the capacity of Director of
Technology or in such other capacity as the Board of Directors may
determine from time to time, reporting directly to the Chief
Executive Officer. Xxxxxxxx will render exclusive services to
Modavox and devote his full time, effort and energies during
business hours to his responsibilities for Modavox, and faithfully
and to the best of his ability discharge those duties.
1.3 LOCATION. Xxxxxxxx'x services for Modavox will be based at Modavox's
headquarters in Phoenix, Arizona unless otherwise approved by the
Chief Executive Officer.
2. COMPENSATION.
2.1 SALARY. Subject to the full and complete performance by Xxxxxxxx of
all of Xxxxxxxx'x material obligations hereunder, during the term of
this Agreement, Modavox will pay to Xxxxxxxx a base salary of
eighty-five thousand dollars ($85,000) per annum. Xxxxxxxx'x salary
will be payable in accordance with Modavox's customary payroll
practices, which in no event will be less frequently than on a
monthly basis. All salary payments made to Xxxxxxxx will be subject
to such deductions, withholdings and limitations as will from time
to time be required by law, governmental regulations or orders.
2.2 FRINGE BENEFITS. Xxxxxxxx shall be entitled to participate, in
accordance with their terms, in all medical and health plans, life
insurance and pension plans and such other employment benefits or
programs that Modavox maintains for its executive employees from
time to time.
2.3 PARTICIPATION IN DEFERRED COMPENSATION AND STOCK OPTION PLANS.
Xxxxxxxx shall be entitled to participate in all executive bonus
plans and all employee qualified and non-qualified deferred
compensation plans or supplemental income plans or programs
maintained by Modavox, including any Section 401(k) plan adopted by
Modavox, according to the terms and conditions thereof. Xxxxxxxx
shall also be entitled to participate in all stock option and other
incentive plans, according to the terms and conditions thereof.
2.4 PAID VACATIONS. Xxxxxxxx will be entitled to paid vacation in
accordance with Modavox's vacation policy (including, without
limitation, any restrictions on the amount of accrued time to be
paid at the expiration of the Term).
2.5 EXPENSES. In connection with Xxxxxxxx'x performance of Xxxxxxxx'x
duties and obligations hereunder, Xxxxxxxx will incur certain
ordinary and necessary expenses of a business character including,
without limitation, travel (including mileage reimbursement), meals
(excluding liquor), entertainment, lodging and cell phone expenses.
Modavox will reimburse Xxxxxxxx for all such reasonable business
expenses within two (2) weeks following Xxxxxxxx'x presentation of
itemized statements therefor in accordance with Modavox's standard
policies.
3. FIDUCIARY OBLIGATIONS. Xxxxxxxx acknowledges that, as an officer of
Modavox, he will be bound to exercise his corporate powers as a fiduciary
for the common benefit of all of Modavox's stockholders, to wit:
3.1 DUTY OF CARE. Xxxxxxxx will at all times perform his services
hereunder honestly and in good faith, with sound business judgment
using the level of care that a reasonably prudent person would use
under the given circumstances to make informed decisions on
Modavox's behalf.
3.2 DUTY OF LOYALTY. XXXXXXXX will at all times perform his services
hereunder without divided loyalties or obligations to any other
person including, without limitation, to any person who may become
an employer of Xxxxxxxx following the end of the Term. Accordingly,
and without limiting the generality of the principle set forth in
the preceding sentence, Xxxxxxxx will breach this Agreement if
during the Term he does the following:
(a) Without prior written notice and written consent of the Board
of Directors, Xxxxxxxx accepts employment with any business,
individual, partnership, corporation, trust, joint venture,
unincorporated association or other entity or person other
than Modavox at any time during the Term.
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(b) Xxxxxxxx becomes financially interested in (other than as a
stockholder owning less than two percent (2%) of the
outstanding capital stock of any publicly traded corporation)
or directly associated with any other business or person
engaged in a business that is involved in any business that is
competitive with Modavox's business or activities without the
prior written consent of Modavox.
(c) During the Term, Xxxxxxxx, for any reason whatsoever, either
alone or jointly with or on behalf of others, either directly
or indirectly:
(i) Diverts or takes away, or attempts to divert or take
away, any of Modavox's customers or clients;
(ii) Solicits the employment or engagement of, or otherwise
entices away from the employment of Modavox or any
affiliated entity, any person who is then employed by
Modavox or any such affiliated entity, whether or not
such person would commit any breach of said person's
contract by reason of leaving the service of Modavox or
any affiliated entity; or
(iii) Solicits the employment or engagement of any person who
ceased being employed by Modavox or any affiliated
entity, within six (6) months of Xxxxxxxx'x
solicitation.
4. EMPLOYEE PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT.
Xxxxxxxx acknowledges and confirms his obligations with Modavox under the
Proprietary Information and Inventions Agreement attached hereto as
Exhibit A executed by Modavox and Xxxxxxxx as of the date hereof (the
"Nondisclosure Agreement").
5. SUSPENSION/TERMINATION.
5.1 DISABILITY.
(a) If Xxxxxxxx is unable to perform fully his material
obligations hereunder due to a long-term disability (as
defined in Modavox's disability insurance policy), Modavox may
terminate this Agreement on or after the date that Xxxxxxxx
receives his first, periodic long-term disability payment from
Modavox's insurance carrier.
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(b) If Modavox does not have a long-term disability policy
covering Xxxxxxxx, and Xxxxxxxx is prevented from performing
fully his material obligations hereunder by reason of the
occurrence of a long-term disability for a period of twelve
(12) consecutive weeks or sixteen (16) weeks in the aggregate
within any given six (6) calendar month period, Modavox may
terminate this Agreement by giving thirty (30) days prior
written notice to Xxxxxxxx and by providing a total of twelve
(12) months salary in severance benefits following the date of
the termination notice, payable in accordance with Modavox's
normal payroll policies but in no event in less than twelve
(12) monthly installments. An independent physician reasonably
selected by Modavox will determine the existence of Xxxxxxxx'x
long-term disability.
5.2 TERMINATION FOR CAUSE.
(a) Modavox may terminate this Agreement immediately upon written
notice to Xxxxxxxx for "Cause." For purposes of this
Agreement, "Cause" means: (i) Xxxxxxxx'x commission of a
willful act of fraud or dishonesty, the purpose or effect of
which materially and adversely affects Modavox; (ii)
Xxxxxxxx'x conviction of a felony (other than the first
offense of driving under the influence following the date
hereof) or any admission thereof (whether by plea of NOLO
CONTENDERE or otherwise) or Xxxxxxxx'x being determined by a
governmental authority to have violated, or enjoined from
violating, any federal or state securities law; or (iii)
Xxxxxxxx'x breach of any material covenant to Modavox relating
to noncompetition, nonsolicitation, nondisclosure of
proprietary information or surrender of records, inventions or
patents; (iv) Xxxxxxxx'x misconduct or negligence, including
conduct detrimental to SurfNet, its reputation, properties,
operations or activities; or (v) Xxxxxxxx'x unwillingness or
inability to adequately perform his job duties, or
insubordination.
(b) In the event of Xxxxxxxx'x termination for Cause, Modavox is
obligated to pay Xxxxxxxx only the specified salary, bonuses,
fringe benefits, expenses and vacation accrued through the
date of termination.
6. EQUITABLE RELIEF FOR BREACH.
Xxxxxxxx acknowledges that a violation of any of the provisions of
Sections 4 and 5 will cause Modavox irreparable injury and damage, the
exact amount of which may be impossible to ascertain and that, for such
reason, among others, Modavox will be entitled, in addition to the remedy
set forth at Section 8, to seek injunctive relief, both PENDENT LITE and
permanently, against Xxxxxxxx to restrain any further violation of such
provisions. Xxxxxxxx hereby (i) consents to any initiation by Modavox in a
court of competent jurisdiction of any action to enjoin immediately the
breach of Sections 4 and 5, and (ii) hereby releases Modavox from the
requirement of posting any bond in connection with temporary or
interlocutory injunctive relief, to the extent permitted by law. This
provision will not, however, be construed as a waiver of any other rights
and remedies Modavox may have against Xxxxxxxx, including, but not limited
to, the recovery for damages.
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7. BREACH BY MODAVOX.
If Modavox breaches this Agreement, Xxxxxxxx will give Modavox written
notice thereof. If Modavox does not cure such breach within thirty (30)
days of receiving written notice thereof, Xxxxxxxx'x remedy will be
limited to compulsory arbitration as set forth at Section 8; provided,
however, the foregoing will not be deemed a waiver of Xxxxxxxx'x statutory
or common law right to discontinue rendering services hereunder in the
event of a material breach by Modavox of this Agreement.
8. COMPULSORY ARBITRATION.
Except as provided in Section 6, any controversy, claim and/or dispute
arising out of or relating to this Agreement or the breach hereof or
subject matter hereof (including any action in tort) will be finally and
fully settled by arbitration in Maricopa County, Arizona in accordance
with the then-existing Commercial Arbitration Rules of the American
Arbitration Association (the "AAA"), and judgment upon the award rendered
by the arbitrators may be entered in any court having applicable
jurisdiction. Written notice of demand for arbitration will be given to
the other Party and to the AAA within six (6) months after the
controversy, claim or dispute has arisen or be barred, and in no event
after the date when the institution of court proceedings based on such
dispute would be barred by the applicable statute of limitations.
Controversies, claims and/or disputes will be resolved by one arbitrator
selected by the mutual agreement of the Parties or, failing that agreement
within forty-five (45) days after written notice demanding arbitration, by
the AAA. There will be limited discovery prior to the arbitration hearing
as follows: (i) exchange of witness lists and copies of documentary
evidence and documents related to or arising out of the issues to be
arbitrated, and (ii) depositions of all Party witnesses. Depositions will
be conducted in accordance with the rules or code of Civil Procedure of
the jurisdiction in which the arbitration is conducted, and a court
reporter will record all hearings, with such record constituting the
official transcript of such proceedings. All decisions of the arbitrator
will be in writing, and the arbitrator will provide reasons for the
decision. Each Party shall bear its own respective attorney's fees and
costs in accordance with any dispute or arbitration.
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9. MISCELLANEOUS.
9.1 OBLIGATIONS TO OTHER COMPANIES. Xxxxxxxx certifies that his
employment with Modavox will not breach any existing agreement or
covenant that Xxxxxxxx has signed with any other person or entity,
or violate any legal duty that Xxxxxxxx owes to such other person or
entity. Xxxxxxxx will not disclose to Modavox, or use on Modavox's
behalf, any trade secrets or proprietary information belonging to
any of Xxxxxxxx'x prior employers or any other person or entity.
9.2 ASSIGNMENT. This Agreement will not be assignable, in whole or in
part, by either Party without the written consent of the other
Party, except that Modavox may, without the consent of Xxxxxxxx,
assign this Agreement upon the consummation of (i) a merger or
consolidation of Modavox with any other corporation or entity or any
other form of business combination pursuant to which the outstanding
stock of Modavox is exchanged for cash, securities or other property
paid, issued or caused to be issued by the surviving or acquiring
corporation or entity; or (ii) a sale, transfer or lease by Modavox
of all, or substantially all, of Modavox's assets.
9.3 NOTICES. All notices and other communications required or permitted
under this Agreement will be delivered to the Parties at the address
set forth below their respective signature blocks, or at such other
address that they hereafter designate by notice to the other Party
in accordance with this Section. All notices and communications will
be deemed to be received in accordance with the following: (i) in
the case of personal delivery, on the date of such delivery; (ii) in
the case of facsimile transmission, on the date on which the sender
receives confirmation by facsimile transmission that such notice was
received by the addressee, provided that a copy of such transmission
is additionally sent by mail as set forth in (iv) below; (iii) in
the case of overnight air courier, on the second business day
following the day sent, with receipt confirmed by the courier; and
(iv) in the case of mailing by first class certified mail, postage
prepaid, return receipt requested, on the fifth business day
following such mailing.
9.4 GOVERNING LAW. This Agreement will be deemed to have been executed
in the State of Arizona and will be governed and construed as to
both substantive and procedural matters in accordance with the laws
of the State of Arizona, but excepting (i) any State of Arizona rule
which would result in judicial failure to enforce the arbitration
provisions of Section 8 hereof or any portion thereof and (ii) any
State of Arizona rule which would result in the application of the
law of a jurisdiction other than the State of Arizona. Any dispute
arising from this Agreement must be filed in Maricopa County,
Arizona.
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9.5 COMPLETE AGREEMENT. This Agreement, along with the Xxxxxxxx
Promissory Note and the Nondisclosure Agreement, contains the entire
agreement of the Parties relating to the subject matter hereof and
supersedes all prior agreements and understandings, whether written
or oral, with respect to such subject matter, and the Parties have
made no agreements, representations or warranties relating to the
subject matter of this Agreement which are not set forth herein. If
a conflict is determined to exist among any of the aforementioned
agreements, the terms of this Agreement will control.
9.6 AMENDMENT. This Agreement may not be amended, modified, superseded,
canceled or terminated, and any of the matters, covenants,
representations, warranties or conditions hereof may not be waived,
except by written instrument executed by the Parties or, in the case
of a waiver, by the Party to be charged with such waiver.
9.7 COUNTERPARTS. This Agreement may be executed by any one or more of
the Parties in any number of counterparts, each of which will be
deemed to be an original, but all such counterparts will together
constitute one and the same instrument.
9.8 WAIVER. The failure of a Party to insist upon strict adherence to
any term, condition or other provision of this Agreement will not be
considered a waiver or deprive that Party of the right thereafter to
insist upon strict adherence to that term or any other term,
condition or other provision of this Agreement.
9.9 HEADINGS. The headings of this Agreement are solely for convenience
of reference and will not affect its interpretation.
9.10 INDEMNITY. Modavox will indemnify and hold harmless Xxxxxxxx from
and against any and all liability, costs, damages and expenses
(including reasonable attorneys' fees and court costs) which
Xxxxxxxx may sustain or suffer by reason of any third-party claim
which is not caused by a breach by Xxxxxxxx hereunder.
9.11 SEVERABILITY. If any one clause or part of this Agreement is deemed
invalid, unenforceable or illegal by the arbitrators or court of
competent jurisdiction, then it is severed from this Agreement and
the rest of this Agreement remains in full force and effect.
Xxxxxxxx acknowledges the uncertainty of the law in this respect and
expressly stipulates that this Agreement be given the construction
which renders its provisions valid and enforceable to the maximum
extent possible under applicable law.
9.12 FURTHER ASSURANCES. The Parties will sign such other instruments,
cause such meetings to be held, resolutions passed and by-laws
enacted, exercise their vote and influence, do and perform and cause
to be done and performed such further and other acts and things as
may be necessary or desirable in order to give full effect to this
Agreement.
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9.13 XXXXXXXX ACKNOWLEDGES THAT THE DRAFTER OF THIS AGREEMENT IS A
LICENSED ATTORNEY, THAT SUCH PERSON DRAFTED THIS AGREEMENT WITH
XXXXXXXX'X FULL KNOWLEDGE AND CONSENT AND THAT XXXXXXXX HAS HAD THE
OPPORTUNITY TO CONSULT WITH THE ADVISOR OF HIS CHOICE AND THAT HE
HAS FREELY AND VOLUNTARILY ENTERED INTO THIS AGREEMENT.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the
date first above written.
Modavox:
MODAVOX, INC.
By:
-------------------------
Xxxxx X. Xxx
Chief Executive Officer
Xxxxxxxx:
-----------------------------
Xxxxx X. Xxxxxxxx
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EXHIBIT A
PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT
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PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT
This Proprietary Information and Inventions Agreement by and between
MODAVOX , INC., a Delaware corporation ("Modavox") and Xxxxx X. Xxxxxxxx
("Xxxxxxxx"), is effective as of the date the Certificate of Merger relating to
the merger of Kino Interactive, LLC into Modavox is filed with and accepted by
the Delaware Secretary of State (the "Effective Date"). Modavox and Xxxxxxxx are
sometimes referred to individually as the "Party" and collectively as the
"Parties." Capitalized terms not otherwise defined herein have the meaning set
forth at the end of this Agreement.
In consideration of the mutual benefits to be derived from this Agreement,
which is a material part of the consideration for Xxxxxxxx'x employment by
Modavox, and of the representations, warranties, conditions and promises
hereinafter contained, the Parties hereby agree as follows:
1. Modavox possesses and will possess Proprietary Information (as hereinafter
defined) and Documentation (as hereinafter defined) which is important to
its Business (as hereinafter defined).
2. Xxxxxxxx'x employment creates a relationship of confidence and trust
between Modavox and Xxxxxxxx with respect to Proprietary Information (i)
applicable to the Business; or (ii) applicable to the business of any
customer of Modavox; or (iii) which Modavox is under a contractual
obligation to keep confidential which may be made known to Xxxxxxxx by
Modavox or by any customer of Modavox, or learned by Xxxxxxxx during the
period of Xxxxxxxx'x employment.
3. The Proprietary Information, whether now or hereafter furnished to
Xxxxxxxx in whole or in part, is confidential. Modavox's business and
prospects could be damaged if the Proprietary Information is disclosed to
third parties without Modavox's consent.
4. As a condition to sharing with Xxxxxxxx, whether in writing or orally,
Proprietary Information, in consideration of Xxxxxxxx'x employment by
Modavox and the compensation received by Xxxxxxxx from Modavox from time
to time, Xxxxxxxx hereby acknowledges and agrees as follows:
(a) All Proprietary Information and all intellectual property rights
associated therewith ("Rights") are the sole property of Modavox.
Xxxxxxxx assigns to Modavox any Rights Xxxxxxxx may have or acquire
in such Proprietary Information. At all times, both during
Xxxxxxxx'x employment by Modavox and after its termination, Xxxxxxxx
will keep in confidence and trust and will not use or disclose (or
permit the use or disclosure of) any Proprietary Information or
anything relating to it for a purpose detrimental to the Business
and without the prior written consent of Modavox except as may be
necessary and appropriate in the ordinary course of performing
Xxxxxxxx'x duties to Modavox.
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(b) All Documentation constitutes the sole property of Modavox. During
Xxxxxxxx'x employment by Modavox, Xxxxxxxx will not remove any
Documentation from the business premises of Modavox or deliver any
Documentation to any person or entity outside Modavox for a purpose
detrimental to the Business and except as Xxxxxxxx may be required
to do in connection with performing the duties of Xxxxxxxx'x
employment. Immediately upon the termination of Xxxxxxxx'x
employment for any reason, or during Xxxxxxxx'x employment if so
requested by Modavox, Xxxxxxxx will return all Documentation,
equipment and other physical property, or any reproduction of such
property, excepting only (i) Xxxxxxxx'x personal copies of records
relating to Xxxxxxxx'x compensation; (ii) Xxxxxxxx'x personal copies
of any materials previously distributed generally to stockholders of
Modavox; and (iii) Xxxxxxxx'x copy of this Agreement.
(c) Xxxxxxxx will promptly disclose in writing to Xxxxxxxx'x immediate
supervisor or to any persons designated by Modavox, all Inventions
(as hereinafter defined) related to the Business made or conceived
or reduced to practice or developed by Xxxxxxxx, either alone or
jointly with others, during the term of Xxxxxxxx'x employment.
Xxxxxxxx will not disclose Inventions covered by this Agreement to
any person outside Modavox unless Xxxxxxxx is requested to do so by
his duly authorized supervisor. All Inventions related to Modavox's
Business which Xxxxxxxx makes, conceives, reduces to practice or
develops (in whole or in part, either alone or jointly with others)
during Xxxxxxxx'x employment belong solely to Modavox to the maximum
extent permitted by applicable law, and Xxxxxxxx assigns such
Inventions and all Rights therein to Modavox and Modavox is the sole
owner of all Rights in connection therewith.
(d) Xxxxxxxx will perform, during and after Xxxxxxxx'x employment, all
reasonable acts deemed necessary or desirable by Modavox to permit
and assist it, at Modavox's expense, in evidencing, perfecting,
obtaining, maintaining, defending and enforcing Rights and/or
Xxxxxxxx'x assignment with respect to such Inventions in any and all
countries. Such acts may include, but are not limited to, execution
of documents and assistance or cooperation in legal proceedings.
Xxxxxxxx hereby irrevocably designates and appoints Modavox and its
duly authorized officers and agents, as Xxxxxxxx'x agents and
attorneys-in-fact to act for and in Xxxxxxxx'x behalf and instead of
Xxxxxxxx, to sign and file any documents and to do all other
lawfully permitted acts to further the above purposes with the same
legal force and effect as if signed by Xxxxxxxx.
(e) Xxxxxxxx has attached hereto, as Attachment A, a complete list of
all existing Inventions to which Xxxxxxxx claims ownership as of the
date of this Agreement which are related to the Business and that
Xxxxxxxx desires to specifically clarify are not subject to this
Agreement.
(f) Xxxxxxxx'x performance of all the terms of this Agreement will not
breach any agreement to keep in confidence proprietary information
acquired by Xxxxxxxx in confidence or in trust prior to Xxxxxxxx'x
employment by Modavox. Xxxxxxxx has not entered into, nor xxxx
Xxxxxxxx enter into, any Agreement either written or oral in
conflict herewith or in conflict with Xxxxxxxx'x employment with
Modavox.
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(g) Xxxxxxxx'x obligation of secrecy and confidentiality with respect to
Proprietary Information which constitutes trade secrets under the
Uniform Trade Secrets Act (or other similar applicable law) will run
for as long as such information remains a trade secret. Xxxxxxxx'x
obligation of confidentiality with respect to Proprietary
Information that is not covered under the Uniform Trade Secrets Act
(or other similar applicable law), will run for three (3) years from
the date Xxxxxxxx'x employment by Modavox ceases.
(h) This Agreement is not an employment contract and, as an employee of
Modavox, Xxxxxxxx has obligations to Modavox which are not set forth
in this Agreement.
(i) Any dispute in the meaning, effect or validity of this Agreement
will be resolved in accordance with the laws of the State of Arizona
without regard to the conflict of laws provisions thereof.
(j) If one or more provisions of this Agreement are held to be illegal
or unenforceable under applicable Arizona law, such illegal or
unenforceable portion(s) will be limited or excluded from this
Agreement to the minimum extent required so that this Agreement will
otherwise remain in full force and effect and enforceable in
accordance with its terms.
(k) Wrongful disclosure or use of Proprietary Information in
contravention of the provisions of this Agreement will give rise to
irreparable injuries not adequately compensable in damages. If
preliminary injunctive relief to maintain the status quo is
required, Modavox may seek such relief from any court of competent
jurisdiction. Xxxxxxxx is bound by any and all orders rendered by
such court.
(l) No failure or delay in exercising any right, power or privilege
hereunder will operate as a waiver thereof nor will any single or
partial exercise thereof preclude any other or further exercise
thereof or the exercise of any right, power or privilege.
(m) No modification of this Agreement is valid unless made in writing
and signed by Xxxxxxxx and a duly authorized officer of Modavox.
(n) This Agreement will survive termination of Xxxxxxxx'x employment,
regardless of the circumstances of such termination.
(o) This Agreement is effective as of the first day of Xxxxxxxx'x
employment by Modavox.
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(p) This Agreement is binding upon Xxxxxxxx'x heirs, executors,
administrators or other legal representatives.
(q) Notwithstanding the foregoing, nothing contained herein will
prohibit Xxxxxxxx from disclosing to anyone the amount of Xxxxxxxx'x
wages.
(r) This Agreement constitutes the full, complete and exclusive
Agreement between Modavox and Xxxxxxxx with regard to this
Agreement's subject matter. This Agreement supersedes any previous
agreements or representations, whether oral or written, express or
implied between Modavox and Xxxxxxxx with respect to their subject
matter.
(s) The following terms have the following meanings:
(i) "Business" means the actual business of Modavox on today's
date, as well as any other business that Modavox acquires,
develops or initiates during the term of this Agreement,
including each of its current and future subsidiaries,
affiliates, business units and divisions.
(ii) "Documentation" means tangible paper or electronic media that
contain or embody Proprietary Information or any other
information concerning the business, operations or plans of
Modavox, whether Xxxxxxxx or others have prepared such
documents. By way of illustration but not limitation,
Documentation includes blueprints, drawings, photographs,
charts, graphs, notebooks, customer lists, computer disks,
tapes or printouts, sound recordings and other printed,
typewritten or handwritten documents, as well as samples,
prototypes, models, products and the like.
(iii) "Inventions" means all data, discoveries, designs,
developments, formulae, ideas, improvements, inventions,
know-how, processes, programs, and techniques, whether or not
patentable or registerable under copyright, trademark or
similar statutes, and all designs, trademarks and
copyrightable works that Xxxxxxxx made or conceived or reduced
to practice or learned, either alone or jointly with others,
during the period of Xxxxxxxx'x employment which (A) are
related or useful in Modavox's business, research, design,
development, experimental production, financing,
manufacturing, licensing, distribution or marketing activity,
or (B) result from tasks Modavox assigned Xxxxxxxx, or (C)
result from use of premises or equipment owned, leased or
contracted for by Modavox.
(iv) "Proprietary Information" means information from which Modavox
might derive economic value, actual or potential, from such
information not being generally known to, and not being
readily ascertainable by proper means by, other persons who
can obtain economic value from its disclosure or use, and
which is the subject of efforts that are reasonable under the
circumstances to maintain its secrecy. By way of illustration
but not limitation, Proprietary Information includes: (A)
inventions, confidential knowledge, trade secrets, ideas,
data, programs, works of authorship, know-how, improvements,
discoveries, designs, techniques and sensitive information
Modavox receives from its customers or receives from a third
party under obligation to keep confidential; (B) technical
information relating to Modavox's existing and future products
and services, including, where appropriate and without
limitation, software, firmware, information, patent
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disclosures, patent applications, development or experimental
work, formulae, engineering or test data, models, techniques,
processes and apparatus relating to the same disclosed by
Modavox to Xxxxxxxx or obtained by Xxxxxxxx through
observation or examination of information or developments; (C)
confidential marketing information (including without
limitation marketing strategies, customer names and
requirements and product and services, prices, margins and
costs); (D) confidential future product plans; (E)
confidential financial information provided to Xxxxxxxx by
Modavox; (F) personnel information (including without
limitation employee compensation); (G) merger and acquisition
strategies (including without limitation target lists); and
(H) other confidential business information.
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[Remainder of Page Left Intentionally Blank]
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5. XXXXXXXX HAS READ THIS AGREEMENT CAREFULLY AND XXXXXXXX UNDERSTANDS AND
ACCEPTS THE OBLIGATIONS WHICH IT IMPOSES UPON HIM WITHOUT RESERVATION. NO
PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO XXXXXXXX TO INDUCE XXXXXXXX
TO SIGN THIS AGREEMENT. XXXXXXXX SIGNS THIS AGREEMENT VOLUNTARILY AND
FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT ONE COUNTERPART WILL BE
RETAINED BY MODAVOX AND THE OTHER COUNTERPART WILL BE RETAINED BY
XXXXXXXX.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the
date first above written.
Modavox:
MODAVOX, INC.
By:
----------------------------
Xxxxx X. Xxx
Chief Executive Officer
Xxxxxxxx:
----------------------------------
Xxxxx X. Xxxxxxxx
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ATTACHMENT A
The following is a complete list of Inventions relevant to the subject
matter of Xxxxxxxx'x employment by Modavox, Inc. relating to Modavox's Business
that have been made or conceived or first reduced to practice by Xxxxxxxx alone
or jointly with others prior to Xxxxxxxx'x employment by Modavox that Xxxxxxxx
desire to clarify are not subject to Modavox's Proprietary Information and
Inventions Agreement.
List of Inventions:
None.
Xxxxxxxx propose to bring to Xxxxxxxx'x employment the following materials and
documents of a former employer:
None.
IN WITNESS WHEREOF, Xxxxxxxx has executed this Attachment A to the
Proprietary Information and Inventions Agreement with Modavox dated as of the
date first above written.
Xxxxxxxx:
---------------------------------
Xxxxx X. Xxxxxxxx
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