Exhibit 10.2
EXECUTIVE EMPLOYMENT AGREEMENT
This Executive Employment Agreement (this “Agreement”), dated as of March 29, 2021 (the “Commencement Date”), is between Reprints Desk, Inc., a Delaware corporation (the “Company”), Research Solutions, Inc., a Nevada corporation (“Research Solutions”), and Roy W. Olivier (“Executive”).
1.Position and Responsibilities
(a)Position. Executive is employed by the Company to render services to both the Company and Research Solutions in the position of Interim Chief Executive Officer and President. Executive shall perform such duties and responsibilities as are normally related to such position in accordance with the standards of the industry and any additional duties now or hereafter assigned to Executive by the Board of Directors of each of the Company and Research Solutions. Executive shall abide by the rules, regulations, and practices as adopted or modified from time to time in the Company’s or Research Solutions’ sole discretion.
(b)Other Activities. Except upon the prior written consent of the Company, Executive will not, during the term of this Agreement, (i) accept any other employment, or (ii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that might interfere with Executive’s duties and responsibilities hereunder or create a conflict of interest with the Company, provided that Executive is expressly permitted to serve on the governing boards of entities that do not compete with the Company.
(c)No Conflict. Executive represents and warrants that Executive’s execution of this Agreement, Executive’s employment with the Company, and the performance of Executive’s proposed duties under this Agreement shall not violate any obligations Executive may have to any other employer, person or entity, including any obligations with respect to proprietary or confidential information of any other person or entity.
(d)Term. The term of employment of Executive by the Company pursuant to this Employment Agreement (the “Term”) shall be for the period commencing on the Commencement Date and ending on September 21, 2021, or such earlier date that Executive’s employment is terminated in accordance with the provisions of this Agreement.
(e)Exercise of Certain Options. Within five busines days following the Commencement Date, Executive shall fully exercise options granted to Executive on February 8, 2018 entitling Executive to purchase up to 65,000 shares of the Company’s common stock at a per share price of $1.15.
2.Compensation and Benefits
(a)Base Salary. In consideration of the services to be rendered under this Agreement, the Company shall pay Executive a salary at the rate of Three Hundred Seventy-One Thousand Five Hundred Twenty Dollars ($371,520) per year (“Base Salary”). The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice. Executive’s Base Salary will be reviewed from time to time in accordance with the established procedures of the Company