PROSPECTUS - GR Engineering
PROSPECTUS - GR Engineering
PROSPECTUS - GR Engineering
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
66<br />
MATERIAL A<strong>GR</strong>EEMENTS<br />
CONTINUED<br />
9.8 Executive Employment Agreement – Tony Patrizi<br />
<strong>GR</strong> <strong>Engineering</strong> has entered into an executive employment agreement with mr tony Patrizi, an<br />
Executive director of the company on the following material terms and conditions:<br />
(a) Salary: $311,927 per annum plus superannuation of $28,073 per annum.<br />
(b) mr Patrizi will have the right to participate in the Employee Share option Plan;<br />
(c) termination date: 31 January, 2013 at which time the executive employment agreement may<br />
be renegotiated or renewed;<br />
(d) termination by mr Patrizi: mr Patrizi may terminate the executive employment agreement by:<br />
(i) giving written notice to that effect in the event of any breach, non-observance or nonperformance<br />
by the company of any provision of the executive employment agreement<br />
and the failure by the company to remedy or adequately respond to the breach, nonobservance<br />
or non-performance within 10 business days of written notice requiring it to<br />
remedy such breach; or<br />
(ii) giving three months’ written notice to the company without providing a reason<br />
for termination;<br />
(e) termination by the company: the company may terminate the executive employment<br />
agreement by giving four months’ written notice to mr Patrizi without needing to provide any<br />
reason for termination;<br />
(f) Restraint on activities: after termination, unless otherwise agreed in writing by the company,<br />
mr Patrizi must not for a period of 24 months in australia (or such period and area that is<br />
deemed to be enforceable):<br />
(i) directly or indirectly engage or prepare to engage in any business or activity that is the<br />
same or similar to that part or parts of the business carried on by the company in which<br />
they were involved at any time during their last 12 months with the company;<br />
(ii) solicit, canvas, approach or accept any approach from any person who was at any time<br />
during their last 12 months’ of employment with the company, a client of the company<br />
in that part or parts of the business carried on by the company in which they were<br />
involved with a view to obtaining the custom of that person in a business that is the<br />
same or similar to that of the company;<br />
(iii) interfere with the relationship between the company and its clients, employees or<br />
suppliers; or<br />
(iv) induce or assist in the inducement of any employee of the company to leave<br />
their employment.
Change language