{"id":38978,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-bio-technology-general-corp-and-john-a.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-bio-technology-general-corp-and-john-a","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-bio-technology-general-corp-and-john-a.html","title":{"rendered":"Employment Agreement – Bio-Technology General Corp. and John A. Bond"},"content":{"rendered":"
EMPLOYMENT AGREEMENT<\/font><\/p>\n\n
AGREEMENT made as of June 4, 2001,\nbetween BIO-TECHNOLOGY GENERAL CORP., a Delaware corporation with an office at\n70 Wood Avenue South, Iselin, New Jersey 08830 (the 'Company') and\nJohn A. Bond, having a residence at 130 Colket Lane, Devon, PA 19333 (the\n'Executive').<\/font><\/p>\n\n
W\nI T N E S S E T H:<\/p>\n\n
             WHEREAS,\nthe Company desires that Executive be employed to serve in a senior executive\ncapacity with the Company, and Executive desires to be so employed by the\nCompany, upon the terms and conditions herein set forth.<\/font><\/p>\n\n
             NOW,\nTHEREFORE, in consideration of the premises and of the mutual promises,\nrepresentations and covenants herein contained, the parties hereto agree as\nfollows:<\/font><\/p>\n\n
1.          EMPLOYMENT<\/u>.<\/font><\/p>\n\n
             The\nCompany hereby employs Executive and Executive hereby accepts such employment,\nsubject to the terms and conditions herein set forth.  Executive shall hold the office of Senior Vice President, Finance\nand Treasurer, reporting to the Chief Executive Officer of the Company.<\/font><\/p>\n\n
2.          TERM<\/u>.<\/font><\/p>\n\n
             The\ninitial term of employment under this Agreement shall begin on the date hereof\n(the 'Employment Date') and shall continue for a period of two (2)\nyears from that date, subject to prior termination in accordance with the terms\nhereof.  Thereafter, this Agreement\nshall automatically be renewed for successive two (2) year terms unless either\nparty shall give the other ninety (90) days prior written notice of its intent\nnot to renew this Agreement.<\/font><\/p>\n\n\n\n\n
 <\/p>\n\n
3.          COMPENSATION<\/u>.<\/font><\/p>\n\n
             (a)         As compensation for the employment\nservices to be rendered by Executive hereunder, including all services as an\nofficer or director of the Company and any of its subsidiaries, the Company\nagrees to pay, or cause to be paid, to Executive, and Executive agrees to\naccept, payable in equal installments in accordance with Company practice, an\ninitial annual salary of $230,000. \nExecutive's annual salary hereunder for the remaining years of\nemployment shall be determined by the Board of Directors in its sole\ndiscretion; provided, however, that Executive's annual salary shall not be\nreduced during the term of this Agreement below the highest annual salary paid\nto Executive at any time during such term.<\/font><\/p>\n\n
             (b)        Executive shall be entitled to bonuses\nfrom time to time in such amounts as may be determined by the Board of\nDirectors in its sole discretion.<\/font><\/p>\n\n
4.          EXPENSES<\/u>.<\/font><\/p>\n\n
             The\nCompany shall pay or reimburse Executive, upon presentment of suitable\nvouchers, for all reasonable business and travel expenses that may be incurred\nor paid by Executive in connection with his employment hereunder.  Executive shall comply with such\nrestrictions and shall keep such records as the Company may deem necessary to\nmeet the requirements of the Internal Revenue Code of 1986, as amended from\ntime to time, and regulations promulgated thereunder.<\/font><\/p>\n\n
5.          OTHER\nBENEFITS<\/u>.<\/font><\/p>\n\n
             Executive\nshall be entitled to a vacation allowance of not less than four (4) weeks per\nannum and to participate in and receive any other benefits customarily provided\nby the Company to its senior management personnel (including any profit\nsharing, pension, short and long-term disability insurance, hospital, major\nmedical insurance, dental insurance and group life insurance plans in\naccordance with the terms of such plans) and including stock option and\/or\nstock purchase plans, all as determined from time to time by the Board of\nDirectors of the Company.  Unused annual\nvacation may not be carried over to other years except that with the consent of\nthe Chief Executive Officer the Executive may carry over unused vacation in\nthose instances in which Executive has been unable to utilize fully his annual\nvacation entitlement due to exigencies of Company business matters and needs.<\/font><\/p>\n\n\n\n\n
 <\/p>\n\n
6.          DUTIES<\/u>.<\/font><\/p>\n\n
             (a)         Executive shall perform such duties and\nfunctions as the President or Chief Executive Officer of the Company shall from\ntime to time determine in accordance with what it is normal and customary for\nan individual holding Executive's position to perform, and Executive shall\ncomply in the performance of such duties and functions with the policies of the\nBoard of Directors.<\/bb><\/font><\/p>\n\n
             (b)        Executive agrees to devote his entire\nworking time, attention and energies to the performance of the business of the\nCompany and of any of its subsidiaries by which he may be employed; and\nExecutive shall not without the approval of the Board of Directors, directly or\nindirectly, alone or as a member of any partnership or other business\norganization, or as an officer, director or employee of any other corporation,\npartnership or other business organization, be actively engaged in or concerned\nwith any other duties or pursuits of a business nature which interfere with the\nperformance of his duties hereunder, or which, even if non-interfering, may be,\nin the reasonable determination of the Board of Directors of the Company in its\nsole discretion, inimical, or contrary, to the best interests of the Company.<\/font><\/p>\n\n
             (c)         All fees, compensation or commissions\nreceived by Executive during the term of this Agreement for personal services\n(including, but not limited to, commissions and compensation received as a\nfiduciary or a director, and fees for lecturing and teaching) rendered at the\nrequest of the Company shall be paid to the Company when received by Executive,\nexcept those fees that the Board of Directors determines may be kept by\nExecutive.<\/font><\/p>\n\n
             (d)        Nothing in this Section 6 or elsewhere\nin this Agreement shall be construed to prevent Executive from investing or\ntrading in non-conflicting investments as he sees fit for his own account,\nincluding real estate, stocks, bonds, securities, commodities or other forms of\ninvestments.<\/font><\/p>\n\n
             (e)         The principal location at which the\nExecutive shall perform his duties hereunder shall be at the Company's offices\nin Iselin, New Jersey or at such other location as may be designated from time\nto time by the Board of Directors of the Company, provided that if the\nprincipal location of Executive's duties is transferred from Iselin, New\nJersey, the new principal location of Executive's duties shall not be\ntransferred beyond a 50-mile radius of Iselin, New Jersey without Executive's\nconsent.  Notwithstanding the foregoing,\nExecutive shall perform such services at such other locations as may be\nrequired from the proper performance of his duties hereunder, and Executive\nrecognizes that such duties may involve significant travel.<\/font><\/p>\n\n
7.          TERMINATION\nOF EMPLOYMENT; EFFECT OF TERMINATION<\/u>.<\/font><\/p>\n\n
             (a)         Executive's employment hereunder may be\nterminated at any time upon written notice from the Company to Executive:<\/font><\/p>\n\n<\/pre>\n\n\n\n\n
 <\/td>\n(i)<\/font><\/td>\nupon
\n  the determination by the Board of Directors, after Executive has received
\n  notice that his performance is not satisfactory for any reason which would
\n  not constitute justifiable cause (as defined in 7(d)) and which notice
\n  specifies with reasonable particularity how such performance is not
\n  satisfactory, that Executive has failed to remedy such performance to the
\n  reasonable satisfaction of the Board of Directors within thirty (30) days of
\n  such notice; or<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(ii)<\/font><\/td>\nupon
\n  the determination by the Board of Directors that there is justifiable cause
\n  (as defined in 7(d)) for such termination and upon ten (10) days’ prior
\n  written notice of same to Executive.<\/font><\/td>\n<\/tr>\n<\/table>\n
\n
<\/p>\n
 <\/font><\/p>\n
<\/dir><\/p>\n
<\/p>\n
(b)        Executive’s employment shall terminate
\nupon:<\/font><\/p>\n
<\/dir><\/p>\n
<\/p>\n
(i)          the death of Executive; or<\/font><\/p>\n
<\/p>\n
(ii)         the ‘disability’ of Executive
\n(as defined in 7(c)) pursuant to 7(f) hereof.<\/font><\/p>\n
             (c)         For the purposes of this Agreement, the
\nterm ‘disability’ shall mean the inability of Executive, due to
\nillness, accident or any other physical or mental incapacity, substantially to
\nperform his duties for a period of three (3) consecutive  months or for a total of six (6) months
\n(whether or not consecutive) in any twelve (12) month period during the term of
\nthis Agreement, as reasonably determined by the Board of Directors of the
\nCompany in its sole discretion after examination of Executive by an independent
\nphysician reasonably acceptable to Executive.<\/font><\/p>\n
             (d)        For the purposes hereof, the term
\n‘justifiable cause’ shall mean and be limited to:<\/font><\/p>\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n(i)<\/font><\/td>\nExecutive’s
\n  conviction (which, through lapse of time or otherwise, is not subject to
\n  appeal) of any crime or offense involving the Company’s or its subsidiaries’
\n  money or other property or which constitutes a felony in the jurisdiction
\n  involved;<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(ii)<\/font><\/td>\nExecutive’s
\n  performance of any act or his failure to act, for which it is determined by
\n  independent counsel retained by the Board of Directors (which counsel shall
\n  not be an individual or firm which at any time within the prior three (3)
\n  years has represented the Company, any executive employed by the Company, the
\n  Board of Directors or any individual Director), after due inquiry in which
\n  Executive is given the opportunity to be heard and represented by counsel,
\n  that if Executive were prosecuted, a crime or offense involving money or
\n  property of the Company or its subsidiaries, or which would constitute a
\n  felony in the jurisdiction involved, would have occurred and Executive would,
\n  in all reasonable probability, be convicted; provided, however, that if such
\n  independent counsel does not make such determination, then the Company shall
\n  pay Executive’s reasonable counsel fees and expenses incurred in defending
\n  Executive during such inquiry;<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(iii)<\/font><\/td>\nany
\n  disclosure which has not been authorized or subsequently ratified by the
\n  Company or which is not required to be made pursuant to any judicial
\n  proceeding or by statute or regulation, by Executive to any person, firm or
\n  corporation other than the Company, its subsidiaries and its and their
\n  directors, officers and employees, of any confidential information or trade
\n  secret of the Company or any of its subsidiaries;<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(iv)<\/font><\/td>\nany
\n  attempt by Executive to secure any improper personal profit in connection
\n  with the business of the Company or any of its subsidiaries; or<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(v)<\/font><\/td>\nExecutive’s
\n  repeated and willful failure to comply with his duties under 6(a) or 6(b)
\n  (other than failure to comply with instructions or policies which are illegal
\n  or improper) where such conduct shall not have ceased or been cured within
\n  thirty (30) days following receipt by Executive of written warning from the
\n  Board of Directors.<\/font><\/td>\n<\/tr>\n<\/table>\n
Upon termination of Executive’s employment
\nfor justifiable cause, this Agreement shall terminate immediately and Executive
\nshall not be entitled to any amounts or benefits hereunder other than such
\nportion of Executive’s annual salary as has been accrued through the date of
\nhis termination of employment and reimbursement of expenses pursuant to Section
\n4 hereof.<\/font><\/p>\n
             (e)         If Executive shall die during the term
\nof his employment hereunder, this Agreement shall terminate immediately.  In such event, the estate of Executive shall
\nthereupon be entitled to receive such portion of Executive’s annual salary as
\nhas been accrued through the date of his death and such bonus, if any, as the
\nBoard of Directors in its sole discretion may determine to award taking into
\naccount Executive’s contributions to the Company prior to his death.  If Executive’s death shall occur while he is
\non Company business, the estate of Executive shall be entitled to receive, in
\naddition to the other amounts set forth in this subsection (e), an amount equal
\nto one-half of his then annual salary.<\/font><\/p>\n
             (f)         Upon Executive’s
\n‘disability’, the Company shall have the right to terminate
\nExecutive’s employment.  Notwithstanding
\nany inability to perform his duties, Executive shall be entitled to receive his
\ncompensation (including bonus, if any) as provided herein until he begins to
\nreceive long-term disability insurance benefits under the policy provided by
\nthe Company pursuant to Section 5 hereof (the period during which Executive
\ncontinues to receive his compensation hereunder being the ‘Transition
\nPeriod’).  During the Transition
\nPeriod, the Company shall (i) allow Executive to participate in the Company’s
\n401k plan to the extent permitted by such plan and (ii) at Company’s expense
\nand to the same extent that Executive had participated, prior to termination of
\nhis employment, in the Company’s health insurance, dental insurance, life
\ninsurance and disability insurance programs, continue Executive’s participation
\nin such programs.  Any termination
\npursuant to this subsection (f) shall be effective on the date thirty (30) days
\nafter which Executive shall have received written notice of the  Company’s election to terminate.<\/font><\/p>\n
<\/didir><\/didir><\/div>\n
\n
 <\/font><\/p>\n
             (g)        Notwithstanding any provision to the
\ncontrary contained herein, in the event that Executive’s employment is
\nterminated by the Company at any time for any reason other than justifiable
\ncause, disability or death, or in the event the Company shall fail to renew
\nthis Agreement:<\/font><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\n(i)<\/font><\/td>\neach
\n  month during the Severance Period, the Company shall pay to Executive, in
\n  full satisfaction and in lieu of any and all other payments due and owing to
\n  Executive under the terms of this Agreement (other than any payments
\n  constituting reimbursement of expenses pursuant to Section 4 hereof), an
\n  amount equal to one-twelfth of the sum of his then annual salary plus the
\n  amount of the last bonus awarded to Executive (less all amounts, if any,
\n  required to be withheld), payable bi-weekly;<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(A)<\/font><\/td>\nThe
\n  ‘Severance Period’ shall commence on the date of termination and
\n  shall comprise one month for each month that Executive was employed by
\n  Company, provided however, that in no event shall such period be less than
\n  six (6) months nor more than twelve (12) months.<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(ii)<\/font><\/td>\nExecutive
\n  shall have a right to exercise any options which are exercisable as of the
\n  date of termination at any time during a period of six (6) months following
\n  the effective date of termination;<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(iii)<\/font><\/td>\nthe
\n  Company shall continue to allow Executive to participate in the Company’s
\n  401k plan to the extent permitted by such plan for twelve (12) months
\n  following the effective date of termination; and<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n(iv)<\/font><\/td>\nthe
\n  Company shall continue to allow Executive to participate, at the  Company’s expense and to the same extent
\n  that Executive had participated prior to termination of his employment, in the
\n  Company’s health insurance, dental insurance, life insurance and disability
\n  insurance programs, to the extent permitted under such programs, until the
\n  earlier of the expiration of the Severance Period or until such time as
\n  Executive becomes eligible to participate in another employer’s group health,
\n  dental and disability insurance plans; provided, however, that Executive
\n  shall notify the Company of his acceptance of a position with a new employer,
\n  together with the specific date on which Executive shall become eligible for
\n  coverage in such new employer’s health, dental, life and disability insurance
\n  programs, such notice to be given within fifteen (15) days following
\n  commencement of such employment.<\/font><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/table>\n
<\/p>\n
 <\/font><\/p>\n
<\/didir><\/div>\n
\n
             (h)        Executive may terminate his employment
\nat any time upon thirty (30) days’ prior written notice to the Company.  Upon Executive’s termination of his
\nemployment hereunder, this Agreement (other than Sections 4, 7, 10, 11, 12 and
\n13, which shall survive) shall terminate immediately.  In such event, Executive shall be entitled to receive such
\nportion of Executive’s annual salary as has been accrued to date.  Executive shall be entitled to reimbursement
\nof expenses pursuant to Section 4 hereof and to participate in the Company’s
\nbenefit plans to the extent participation by former employees is required by
\nlaw or permitted by such plans, with the expense of such participation to be
\nspecified in such plans for former employees.<\/font><\/p>\n
8.          REPRESENTATIONS
\nAND AGREEMENTS OF EXECUTIVE<\/u>.<\/font><\/p>\n
             (a)         Executive represents and warrants that
\nhe is free to enter into this Agreement and to perform the duties required
\nhereunder, and that there are no employment contracts or understandings,
\nrestrictive covenants or other restrictions, whether written or oral,
\npreventing the performance of his duties hereunder or requiring him to perform
\nemployment, consulting, business related or similar duties for any other
\nperson.<\/font><\/p>\n
             (b)        Executive agrees to submit to a medical
\nexamination and to cooperate and supply such other information and documents as
\nmay be required by any insurance company in connection with the Company’s
\nobtaining life insurance on the life of Executive, and any other type of
\ninsurance or fringe benefit as the Company shall determine from time to time to
\nobtain.<\/font><\/p>\n
9.          REPRESENTATIONS
\nOF COMPANY<\/u>.<\/font><\/p>\n
             The
\nCompany represents and warrants that the Board of Directors has consented to
\nthe Company entering into this Agreement with Executive on the terms set forth
\nherein and that all written consents, resolutions and approvals required to
\ngive full force and effect to this Agreement and to the Company’s obligations
\nhereunder have been obtained.<\/font><\/p>\n
10.        NON-INTERFERENCE<\/u>.<\/font><\/p>\n
             Executive
\nagrees that for a period of one year following the termination of Executive’s
\nemployment hereunder, Executive shall not, directly or indirectly, request or
\ncause collaborative partners, universities, governmental agencies, contracting
\nparties, suppliers or customers with whom the Company or any of its
\nsubsidiaries has a business relationship to cancel or terminate any such business
\nrelationship with the Company or any of its subsidiaries or solicit, interfere
\nwith or entice from the Company any employee (or former employee) of the
\nCompany.<\/font><\/p>\n<\/div>\n
\n
 <\/font><\/p>\n
11.        INVENTIONS
\nAND DISCOVERIES<\/u>.<\/font><\/p>\n
             (a)         Insofar as is related to the principal
\nbusiness activities and products of the Company and any of its subsidiaries or
\njoint ventures, Executive shall promptly and fully disclose to the Company, and
\nwith all necessary detail for a complete understanding of the same, all
\ndevelopments, know-how, discoveries, inventions, improvements, concepts, ideas,
\nwritings, formulae, processes and methods of a financial or other nature
\n(whether copyrightable, patentable or otherwise) made, received, conceived,
\nacquired or written during working hours, or otherwise, by Executive (whether
\nor not at the request or upon the suggestion of the Company) during the period
\nof his employment with, or rendering of advisory or consulting services to, the
\nCompany or any of its subsidiaries, solely or jointly with others (collectively
\nthe ‘Subject Matter’).<\/font><\/p>\n
             (b)        Executive hereby assigns and transfers,
\nand agrees to assign and transfer, to the Company, all his rights, title and
\ninterest in and to the Subject Matter, and Executive further agrees to deliver
\nto the Company any and all drawings, notes, specifications and data relating to
\nthe Subject Matter, and to execute, acknowledge and deliver all such further
\npapers, including applications for copyrights or patents, as may be necessary
\nto obtain copyrights and patents for any thereof in any and all countries and
\nto vest title thereto to the Company.
\nExecutive shall assist the Company in obtaining such copyrights or
\npatents during the term of this Agreement, and any time thereafter on
\nreasonable notice and at mutually convenient times, and Executive agrees to
\ntestify in any prosecution or litigation involving any of the Subject Matter;
\nprovided, however, that Executive shall be compensated in a  timely manner at the rate of $250.00 per
\nhour (with a minimum of $1500 per day), plus out-of-pocket expenses incurred in
\nrendering such assistance or giving or preparing to give such testimony if it
\nis required of his employment hereunder.<\/font><\/p>\n
12.        NON-DISCLOSURE
\nOF CONFIDENTIAL INFORMATION<\/u>.<\/font><\/p>\n
             (a)         Executive shall not, during the term of
\nthis Agreement, or at any time following termination of this Agreement,
\ndirectly or indirectly, disclose or make accessible (other than as is required
\nin the regular course of his duties, including, without limitation, disclosures
\nto the Company’s advisors and consultants), or as may be required by law or
\nregulation or pursuant to a judicial proceeding (in which case Executive shall
\ngive the Company prior written notice of such required disclosure) or with the
\nprior written consent of the Board of Directors of the Company), to any person,
\nfirm or corporation, any confidential information acquired by him during the
\ncourse of, or as an incident to, his employment or the rendering of his
\nadvisory or consulting services hereunder, relating to the Company or any of
\nits subsidiaries, or any corporation, partnership or other entity owned or
\ncontrolled, directly or indirectly, by any of the foregoing, or in which any of
\nthe foregoing has a beneficial interest, including, but not limited to, the
\nbusiness affairs of each of the foregoing.
\nSuch confidential information shall include, but shall not be limited
\nto, proprietary technology, trade secrets, patented processes, research and
\ndevelopment data, know-how, market studies and forecasts, competitive analyses,
\npricing policies, employee lists, personnel policies, the substance of
\nagreements with customers and others, marketing or dealership arrangements,
\nservicing and training programs and arrangements, customer lists and any other
\ndocuments embodying such confidential information.  This confidentiality obligation shall not apply to any
\nconfidential information which thereafter becomes publicly available other than
\npursuant to a breach of this Section 12(a) by Executive.<\/font><\/p>\n
             (b)        All information and documents relating
\nto the Company and its affiliates as hereinabove described shall be the
\nexclusive property of the Company, and Executive shall use commercially
\nreasonable best efforts to prevent any publication or disclosure thereof.  Upon termination of Executive’s employment
\nwith the Company, all such documents, records, reports, writings and other
\nsimilar documents containing confidential information, including copies
\nthereof, then in Executive’s possession or control shall be returned and left
\nwith the Company.<\/font><\/p>\n<\/p>\n
13.        SPECIFIC
\nPERFORMANCE<\/u>.<\/font><\/p>\n
             Executive
\nagrees that if he breaches, or threatens to commit a breach of, any of the
\nprovisions of Sections 10, 11 or 12 (the ‘Restrictive Covenants’),
\nthe Company shall have, in addition to, and not in lieu of, any other rights
\nand remedies available to the Company under law and in equity, the right to
\nhave the Restrictive Covenants specifically enforced by any court of competent
\njurisdiction, it being agreed that any breach or threatened breach of the
\nRestrictive Covenants would cause irreparable injury to the Company and that
\nmoney damages would not provide an adequate remedy to the Company.  Notwithstanding the foregoing, nothing
\nherein shall constitute a waiver by Executive of his right to contest whether a
\nbreach or threatened breach of any Restrictive Covenant has occurred.<\/font><\/p>\n
14.        AMENDMENT
\nOR ALTERATION<\/u>.<\/font><\/p>\n
             No
\namendment or alteration of the terms of this Agreement shall be valid unless
\nmade in writing and signed by both of the parties hereto.<\/font><\/p>\n
15.        GOVERNING
\nLAW<\/u>.<\/font><\/p>\n
             This
\nAgreement shall be governed by the laws of the State of New Jersey applicable
\nto agreements made and to be performed entirely therein.<\/font><\/p>\n
16.        SEVERABILITY<\/u>.<\/font><\/p>\n
             The
\nholding of any provision of this Agreement to be invalid or unenforceable by a
\ncourt of competent jurisdiction shall not affect any other provision of this
\nAgreement, which shall remain in full force and effect.<\/font><\/p>\n<\/div>\n
\n
 <\/font><\/p>\n
17.        NOTICES<\/u>.<\/font><\/p>\n
             Any
\nnotices required or permitted to be given hereunder shall be sufficient if in
\nwriting, and if delivered by hand, or sent by certified mail, return receipt
\nrequested, to the addresses set forth above or such other address as either
\nparty may from time to time designate in writing to the other, and shall be
\ndeemed given as of the date of the delivery or date of receipt.<\/font><\/p>\n
18.        WAIVER
\nOR BREACH<\/u>.<\/font><\/p>\n
             It
\nis agreed that a waiver by either party of a breach of any provision of this
\nAgreement shall not operate, or be construed, as a waiver of any subsequent
\nbreach by that same party.<\/font><\/p>\n
19.        ENTIRE
\nAGREEMENT AND BINDING EFFECT<\/u>.<\/font><\/p>\n
             This
\nAgreement contains the entire agreement of the parties with respect to the
\nsubject matter hereof and shall be binding upon and inure to the benefit of the
\nparties hereto and their respective legal representatives, heirs, distributors,
\nsuccessors and assigns.  Notwithstanding
\nthe foregoing, any prior agreements between Executive and the Company relating
\nto the confidentiality of information, trade secrets, patents, indemnification,
\nand stock options shall not be affected by this Agreement.<\/font><\/p>\n
20.        SURVIVAL<\/u>.<\/font><\/p>\n
             The
\ntermination of Executive’s employment hereunder or the expiration of this
\nAgreement shall not affect the enforceability of Sections 4, 7, 9, 10, 11, 12
\nand 13 hereof.<\/font><\/p>\n
21.        FURTHER
\nASSURANCES<\/u>.<\/font><\/p>\n
             The
\nparties agree to execute and deliver all such further documents, agreements and
\ninstruments and take such other and further action as may be necessary or
\nappropriate to carry out the purposes and intent of this Agreement.<\/font><\/p>\n
22.        HEADINGS<\/u>.<\/font><\/p>\n
             The
\nSection headings appearing in this Agreement are for the purposes of easy
\nreference and shall not be considered a part of this Agreement or in any way
\nmodify, demand or affect its provisions.<\/font><\/p>\n<\/div>\n
\n
 <\/font><\/p>\n
             IN
\nWITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
\nand year first above written.<\/font><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nBIO-TECHNOLOGY
\n  GENERAL CORP.<\/font><\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nBy:
\n  \/s\/<\/font><\/td>\n		Sim
\n  Fass<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nSim
\n  Fass, Chairman and CEO<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nDate:<\/font><\/td>\nJune
\n  4, 2001<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n\n
<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n\/s\/<\/font><\/td>\nJohn
\n  Bond<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nJohn
\n  A. Bond<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\nDate:<\/font><\/td>\nJune
\n  4, 2001<\/font><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n\n
<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6900],"corporate_contracts_industries":[9406],"corporate_contracts_types":[9539,9544],"class_list":["post-38978","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-bio-technology-general-corp","corporate_contracts_industries-drugs__botanical","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38978"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38978"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38978"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}