EXHIBIT 10.43
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November 3, 2000
TO: RAMZI DABBAGH
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FROM: MIKE STEINBACK
SUBJECT: EMPLOYMENT AGREEMENT
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Ramzi:
Following our previous discussions, provided herein is an initial draft of
your Employment Agreement effective January 1, 2001. Upon your review and
return comments, I will submit to CH&S for final approval.
I. Title: Chairman of the Board - CII Technologies, Inc.
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II. Primary Responsibilities and Assignments
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A. Strategic development and growth of the SCIIE and CIIG Joint
Ventures. This includes retention of your Board membership
positions on both JV's.
B. Identification, due diligence, negotiation, and strategic
planning of selective acquisitions.
C. Chairman of the Board - CII Technologies, Inc.
D. Overview/support to the CIIT President/CEO and his Staff.
E. Represent CIIT at various industry conferences including
EIA/NARM.
F. All assignments will be made by the CIIT President/CEO and/or the
CII Technologies Board of Directors.
III. Term and Termination
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A. The initial term of this agreement shall be 12 months commencing
on January 1, 2001 and ending on December 31, 2001. The agreement
may extend additional terms on mutual agreement of the parties.
B. Notwithstanding Section III (A), either party shall have the
right to terminate this agreement for any reason whatsoever by
providing 120 days written notice without further liability
whatsoever.
C. This Agreement will immediately terminate effective with a
majority ownership change.
IV. Work Schedule and Office
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A. Average 30 hours/week.
B. The office you are currently in will be retained for your use
during the term of your agreement.
C. Your work hours will include work conducted in your home office
as well as business travel and work conducted at the CIIT
Corporate office.
V. Compensation and Benefits
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A. Annual Base Salary: $90,000.00
B. No longer eligible for the following:
. Corporate Bonus Compensation Program
. Special fringe compensations including auto allowance and
other.
C. Eligible to receive those company benefits of the CII Division in
effect as of January 1, 2001 and that may be changed thereafter,
prorated consistent with your reduced work schedule and annual
compensation.
VI. Employment Status
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A. Your legal status is that of a part-time employee of the company.
VII. Notices
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A. All notices and/or communications hereunder shall be in writing
and shall be addressed as follows:
Employee: Mr. Ramzi Dabbagh
16 Cedar Hill Drive
Asheville, NC 28803
Company: CII Technologies
1200 Ridgefield Blvd., Suite 200
Asheville, NC 28806
In witness whereof, the parties have executed this agreement on
_____________________.
CII Technologies
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Michael A. Steinback, President & CEO
Employee
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Ramzi Dabbagh