EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT(Employment Agreement ) made and entered into this 1st day of October, 1974, by and between Kanto G.T Kabushiki Kaisha(Employer),a Japanese stock company, and M.SAKAMAKI(Employee ).
WITNESSETH THAT :
WHEREAS, Employer has agreed to acquire certain assets of Kanto G.T., pursuant to an Asset Purchase Agreement (the Agreement) dated ,19 ;and
WHEREAS, Employer presently intends to continue the business operations of Kanto G.T.,; andWHeREAS, Employee has been serving as the President of Kanto G.T.
for a period in excess of 10 years ; and
WHEREAS, Employer desires to obtain the benefit of the services of Employee in connection with the conduct of the business presently being carried on by Kanto G.T. and the Employee is willing to render such services on the terms herein set forth,
NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements hereinafter set forth, it is covenanted and agreed as follows :
Article 1. Employment
Employee is hereby employed by Employer for an Employment period commencing on the Closing Date of the Agreement, as that terms is defined in Article 1 (i) thereof(Closing Date), and ending five(5) years thereafter(the Employment Period ). If for any reason the Agreement is not consummated, this Employment Agreement shall be without effect and neither party shall have any liability to the other hereunder.
Article 2. Employment Services
Employee agrees that during the Employment Period, he will faithfully render such executive and managerial services, with respect to the continuation of the business operations of Kanto G.T.. by Employer, or otherwise as any be delegated to Employee by or under the authority of the Board of Directors of Employer, and will devote substantially his entire business time and attention thereto.
Article 3. CompensationDuring the Employment Period :
(a) Employer shall pay employee upon Employee's performance of the services described above, a salary in the amount of yen per year or such greater amount as Employer may determine, and such amount shall be paid in accordance with Employer's usual payment policies and procedures.
(b) Employer shall grant Employee all other benefits of Employment generally made available to other members of Employer's management. |
2007.12.04
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