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ACKNOWLEDGES: That
For the reasons set forth above, and in consideration of the mutual promises and
agreements set forth in this Agreement, CLIENT and CONSULTANT agree as follows:
SECTION ONE
ENGAGEMENT
SECTION TWO
DUTIES OF CONSULTANT
SECTION FOUR
FRINGE BENEFITS
CONSULTANT shall be entitled to meals free of charge during his regular hours
of work and shall be provided by CLIENT free housing accommodations and health
insurance during the duration of this Agreement. CONSULTANT shall be entitled to
such other benefits as the CLIENT in its discretion may extend to him in writing.
SECTION FIVE
VACATION/SICK LEAVE
CONSULTANT shall be entitled to twenty one (21) days of paid vacation each
year of completed service during the term of this Agreement, the time for such vacation
to be determined by mutual agreement between CLIENT and CONSULTANT.
CONSULTANT shall likewise enjoy paid sick leave of fourteen (14) days each year of
completed service which shall be commuted to its cash equivalent, if unused.
SECTION SIX
OTHER ENGAGEMENT
CONSULTANT shall devote his entire time, attention, knowledge, and skills
solely to the business and interest of CLIENT, and CONSULTANT shall be entitled to
all of the benefits, profits, or other issues arising from or incidental to all work, services,
and advice of CLIENT, and CONSULTANT shall not, during the term of this
Agreement, be interested directly or indirectly, in any manner, as partner, officer,
director, shareholder, advisor, employee, or in any other business similar to CLIENT's
business or any allied trade.
SECTION SEVEN
RECOMMENDATIONS FOR IMPROVING OPERATION
SECTION EIGHT
TRADE SECRETS
SECTION NINE
TRADE SECRETS AFTER TERMINATION OF EMPLOYMENT
All of the terms of Section Seven of this Agreement shall remain in full force and
effect for the period of five (5) years after the termination of CONSULTANT's
engagement for any reason.
SECTION TEN
AGREEMENTS OUTSIDE OF CONTRACT
SECTION ELEVEN
MODIFICATION OF AGREEMENT
Any modification of this Agreement or additional obligation assumed by either
party in connection with this Agreement shall be binding only if evidenced in writing
signed by each party or an authorized representative of each party.
SECTION TWELVE
TERMINATION
A. This Agreement will become effective on 1 October 2000 and will run for
a period of five (5) years. At the expiration of this period of time, this Agreement shall
be extended on a year to year basis unless either party, thirty (30) days prior to the end of
this term or its extension, terminates the same by written notice to the other.
SECTION THIRTEEN
EFFECT OF PARTIAL INVALIDITY
The invalidity of any portion of this Agreement will not and shall not be deemed
to affect the validity of any other provision. In the event that any provision of this
Agreement is held to be invalid, the parties agree that the remaining provisions shall be
deemed to be in full force and effect as if they had been executed by both parties
subsequent to the expungement of the invalid provision.
SECTION FOURTEEN
NO WAIVER
The failure of either party to this Agreement to insist upon the performance of
any of the terms and conditions of this Agreement, or the waiver of any breach of any of
the terms and conditions of this Agreement, shall not be construed as thereafter waiving
any such terms and conditions, but the same shall continue and remain in full force and
effect as if no such forbearance or waiver had occurred.
SECTION FIFTEEN
TRANSFER
By:
AIDA T. SIMTOCO
President
WITNESSES
______________________ _______________________
ACKNOWLEDGMENT
BEFORE ME, a Notary Public, for and in _____________on this ___ day of
___________ 2000, personally appeared:
AIDA T. SIMTOCO
TOSHIHISA SHIMOMACHI
all known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged the same as their own free will and deed.
This instrument consists of five (5) pages including this page on which the
acknowledgment is written, signed by the parties and their witnesses on each and every
page thereof.
WITNESS MY HAND AND SEAL on the date and the place first above
written.
RSEV/GVS/627-3-01
/conversion/tmp/activity_task_scratch/553130277.doc