Employment Agreement - EnerTeck Chemical Corporation and V. Patrick Keating
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ENERTECK CHEMICAL COMPANY
be effective the 1st day of August, 2003 (The Effective Date) by and between EnerTeck Chemical Corporation,
a Texas corporation, (the "Company") and V. Patrick Keating ("Employee").
WHEREAS, Employee is an experienced professional and because of whose educational background, skill and
expertise in the field of manufacturing, marketing, business development, engineering, management and the like
and which skill and expertise would be valuable to the Company,
WHEREAS, the Company desires to employ the Employee and the Employee desires to be employed by the
WHEREAS, Employee and the Company desire to set forth the terms and conditions of Employee's employment
with the Company.
NOW, THEREFORE, and in consideration of the premises and of the full and faithful performance of the
respective agreements herein contained, the parties hereto do mutually covenant and agree with each other as
1. Employment. The Company agrees to employ Employee as Executive Vice President and Employee accepts
such employment upon the terms and conditions hereinafter set forth. The Employee shall report directly to the
President or COO.
2. Term. The term of this Agreement shall be for a period of thirty-six (36) months from the Effective Date
(August 1, 2003).
(a) In the interim period between the Effective Date of this Agreement and such time that the Company generates
sufficient cash flow to support executive compensation for its executives, the Company agrees to pay Employee a
wage of seventy-two thousand ($72,000) per annum.
(b) If and when the Company generates sufficient cash flow to pay executive compensation to its executives as
determined solely by the Board of Directors, then the Employee's minimum annual base salary shall be increased
to $125,000 per year, payable in equal bi-weekly payments on the