Employment Agreement - Dan Valladao



 Exhibit 10.1 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 The Executive Employment Agreement (the
“Agreement”) is effective as of October 30, 2009 (the “Effective Date”) and is between General Automotive Company, Inc., a Nevada Corp. (the “Company”) and Dan Valladao (the “Employee”). 
 RECITALS: 
 WHEREAS, the Company
desires that the Employee become the Chief Operating Officer of the Company. 
 WHEREAS, the Employee desires to accept such role under
the terms hereof. 
 NOW, THEREFORE, in consideration of the promises and mutual agreements herein set forth, the parties hereby agree as follows:

 1. Term of Employment. The period of employment of Employee by the Company under the Agreement (the Employment Period) shall be deemed to have
commenced on the Effective Date and shall terminate on December 31, 2012. 
 2. Duties. During his employment by the Company, the Employee shall
perform such duties as are customary and typical by an officer of a publicly traded company, and shall discharge such duties in a professional and diligent manner at all times, to the best of his abilities. Employee’s employment shall also be
subject to the policies maintained and established by the Company, if any, as the same may be amended from time to time. In keeping with these duties, Employee shall make full disclosure to the Board of Directors of all business opportunities
pertaining to the business of the Company or its Affiliates and should not appropriate for Employee’s own benefit business opportunities that fall within the scope of the businesses conducted by the Company and its Affiliates. 
 3. Compensation. 
 (a) Salary. The Company shall pay to
Employee a base salary of $120,000.00 plus applicable bonuses or raises as are awarded by the Board of Directors from time to time based on performance. 
 (b) Health Insurance. As additional compensation for the Employee, the Company shall provide or maintain the medical and health insurance benefits on the same terms and conditions as are made available to all
executives of the Company generally. 
 (c) Signing Bonus/Stock Options. In consideration of agreeing to become the CEO of the Company,
the Company hereby grants to Employee the option to purchase ten million (10,000,000) shares of common stock of General Automotive (GNAU), at an exercise price of 4 cents per share. These options are granted as a signing bonus, and not for
ongoing services hereunder, and are therefore deemed to be fully earned and vested as of the execution hereof. Said options shall be valid for 5 years from the date hereof. 
  

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 (d) Housing Allowance. The Company shall pay to Employee a $2000.00 per month allowance for Housing.

 4. Vacation. Employee shall be entitled to paid vacation per year in accordance with the Company’s Executive policies during each year of his
employment under the Agreement. 
 5. Reimbursement for Expenses. The Company shall reimburse the Employee within 30 days of the submission of appropriate
documentation, and in no event later than the last day of the calendar year following the year in which an expense was incurred, for all reasonable and approved travel and entertainment expenses and other disbursements incurred by him for or on
behalf of the Company in the course and scope of his employment under the Agreement. 
 6. Termination of Agreement. 
 (a) Death. The Agreement shall automatically terminate upon the death of Employee. 
 (b) Disability. If, as a result of Employee’s incapacity due to physical or mental illness, Employee shall have been substantially unable, either
with or without reasonable accommodation, to perform his duties hereunder for an entire period of six (6) consecutive months, and within thirty (30) days after written Notice of Termination is given after such six (6) month period,
Employee shall not have returned to the substantial performance of his duties on a full-time basis, the Company shall have the right to terminate Employee’s employment hereunder for Disability, and such termination in and of itself shall not
be, nor shall it be deemed to be, a breach of the Agreement. Any dispute between the Employee and the Company regarding whether Employee has a Disability shall be determined in writing by a qualified independent physician mutually acceptable to the
Employee and the Company. If the Employee and the Company cannot agree as to a qualified independent physician, each shall appoint a physician and those two physicians shall select a third who shall make such determination in writing. The
determination of Disability made in writing to the Company and Employee shall be final and conclusive for all purposes of the Agreement. Employee acknowledges and agrees that a request by the Company for such a determination shall not be considered
as evidence that the Company regarded the Employee as having a Disability. 
 (c) Termination By Company For Cause. The Company may
terminate the Agreement upon written notice to Employee at any time for “Cause” in accordance with the procedures provided below; 
 (d) For purposes of the Agreement, “Cause” shall mean: 
 (i) the material breach of any provision of the Agreement by
Employee which has not been cured within five business (5) days after the Company provides notice of the breach to Employee; provided, however, if the act or omission that is the subject of such notice is substantially similar to an act or
omission with respect to which Employee has previously received notice and an opportunity to cure, then no additional notice is required and the Agreement may be terminated immediately upon the Company’s election and written notice to
Employee); 
  

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 (ii) the entry of a plea of guilty or judgment entered after trial finding Employee guilty of a crime
punishable by imprisonment in excess of one year involving moral turpitude (meaning a crime that includes the commission of an act of gross dishonesty or bad morals); 
 (iii) willfully engaging by Employee in conduct that the Employee knows or reasonably should know is detrimental to the reputation, character or standing or otherwise injurious to the Company or any of its
shareholders, direct or indirect subsidiaries and Affiliates, monetarily or otherwise; 
 (iv) without limiting the generality of
Section 6(d)(i), the breach or threatened breach of any of the provisions of Sections 8, 9 or 10; or 
 (v) a ruling in any state or
federal court or by an arbitration panel that the Employee has breached the provisions of a non-compete or non-disclosure agreement, or any similar agreement or understanding which would in any way limit, as determined by the Board of Directors of
the Company, the Employee’s ability to perform under the Agreement now or in the future. 
 (e) Termination By Company Without Cause.
The Company may terminate the Agreement at any time, and for any reason, by providing at least 90 days written notice to Employee. 
 (f)
Termination By Employee With Good Reason. Employee may terminate his employment with good reason anytime after Employee has actual knowledge of the occurrence, without the written consent of Employee, of one of the following events (each event being
referred to herein as “Good Reason”): 
 (i) Any change in the duties or responsibilities (including reporting responsibilities)
of Employee that is inconsistent in any adverse respect with employee’s position(s), duties, responsibilities or status with the Company immediately prior to such change (including any diminution of such duties or responsibilities) or
(B) an adverse change in Employee’s titles or offices (including, membership on the Board of Directors) with the Company; 
 (ii) a reduction in Employee’s Base Salary or Bonus opportunity; 
 (iii) the relocation of the Company’s
principal executive offices out of Central Florida; 
 (iv) the failure of the Company to continue in effect any material employee benefit
plan, compensation plan, welfare benefit plan or fringe benefit plan in which Employee is participating immediately prior to the date of the Agreement or the taking of any action by the Company which would adversely affect Employee’s
participation in or reduce Employee’s benefits under any such plan, unless Employee is permitted to participate in other plans providing Employee with substantially equivalent benefits; 
 (v) any refusal by the Company to continue to permit Employee to engage in activities not directly related to the business of the Company which
Employee was permitted to engage in prior to the date of the Agreement; 
  

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 (vi) the Company’s failure to provide in all material respects the indemnification set forth in
the Company’s Articles of Incorporation, By-Laws, or any other written agreement between Employee and Company; 
 (vii) the failure
of the Company to obtain the assumption agreement from any successor giving rise to a Change of Control as contemplated in Section 10; 
 (viii) any other breach of a material provision of the Agreement by the Company. 
 For purposes of clauses (iii) through
(vi) and (ix) above, an isolated, insubstantial and inadvertent action taken in good faith and which is remedied by the Company within ten (10) days after receipt of notice thereof given by Employee shall not constitute Good Reason.
Employee’s right to terminate employment with Good Reason shall not be affected by Employee’s incapacity due to mental or physical illness and Employee’s continued employment shall not constitute consent to, or a waiver of rights with
respect to, any event or condition constituting cause. 
 7. Effect of Termination. Upon the termination of the Agreement, no rights of Employee which
shall have accrued prior to the date of such termination, including the right to receive any bonus Fully-Earned through the date of such termination, shall be affected in any way. 
 (a) Upon Death of Employee. During the Term, if Employee’s employment is terminated due to his death, Employee’s estate shall be entitled to
receive the Base Salary set forth in Section 3 accrued through the date of death and any bonus Fully-Earned (as herein defined) through the date of such termination; provided, however, Employee’s estate shall not be entitled to any other
benefits (except as provided by law or separate agreement). “Fully-Earned” shall mean that for purposes of determining whether the Employee shall be entitled to a bonus, that such Employee shall be treated as if he had been employed
through the last date of the regular period for determining whether or not a bonus is payable in the standard manner that all such employees are evaluated even though Employee is no longer employed by the Company, and him eligibility for an
incentive bonus, if any, shall be determined accordingly. Further, a surviving spouse of Employee shall be eligible for continuation of family benefits pursuant to Section 3(c) subject to compliance with Plan provisions at the full premium rate
(Company plus employee portion) for a one year period after the date of termination. 
 (b) For Disability; By Company Without Cause; By
Employee with Good Reason. 
 If the Agreement is terminated under Section 6 (b), (e) or (f): 
 (i) Employee shall be entitled to receive his Base Salary set forth in Section 3 accrued through the date of such termination and any bonus
Fully-Earned through the date of such termination, and shall receive a severance equal to 12 months salary, paid out in 12 equal monthly installments; and 
 (ii) Except as provided for in the Section 7(b), Employee shall not have any rights which have not previously accrued upon termination of the Agreement. 
  

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 (c) By Company With Cause. In the event of termination of Employee’s employment Section 6(c)
Employee shall be entitled to receive the Base Salary and benefits set forth in Section 3 accrued through the date of termination, and he shall not be entitled to any other benefits (except as required by law). 
 8. Confidential Information. 
 (a) The Company shall
disclose to Employee, or place Employee in a position to have access to or develop, trade secrets or confidential information of Company or its Affiliates; and/or shall entrust Employee with business opportunities of Company or its Subsidiaries;
and/or shall place Employee in a position to develop business good will on behalf of Company or its Subsidiaries. 
 (b) The Employee
acknowledges that in his employment hereunder he occupies a position of trust and confidence and agrees that he will treat as confidential and will not, without prior written authorization from the Company, directly or indirectly, disclose or make
known to any person or use for her own benefit or gain, the methods, process or manner of accomplishing the business undertaken by the Company or its Subsidiaries, or any non-public information, plans, formulas, products, trade secrets, marketing or
merchandising strategies, or confidential material or information and instructions, technical or otherwise, issued or published for the sole use of the company, or information which is disclosed to the Employee or in any way acquired by him during
the term of the Agreement, or any information concerning the present or future business, processes, or methods of operation of the Company or its Subsidiaries, or concerning improvement, inventions or know how relating to the same or any part
thereof, it being the intent of the Company, with which intent the Employee hereby agrees, to restrict him from disseminating or using for his own benefit any information belonging directly or indirectly to the Company which is unpublished and not
readily available to the general public. 
 9. Successors and Assigns. The Agreement is personal in its nature and neither of the parties hereto shall,
without the consent of the other, assign or transfer the Agreement or any rights or obligations hereunder, provided, however, that the provisions hereof shall inure to the benefit of, and be binding upon, each successor of the Company, whether by
merger, consolidation, acquisition or otherwise, unless otherwise agreed to by the Employee and the Company. 
 10. Notices. Any notice required or
permitted to be given to the Employee pursuant to the Agreement shall be sufficiently given if sent to the Employee by registered or certified mail addressed to the Employee at 6031 Caymus loop. Windermere, FL 34786
                                 or at such other address as he shall designate by notice
to the Company, and any notice required or permitted to be given to the Company pursuant to the Agreement shall be sufficiently given if sent to the Company by registered or certified mail addressed to it at 5422 Carrier Dr., Ste. 309, Orlando, FI.
32819., or at such other address as it shall designate by notice to the Employee. 
 11. Invalid Provisions. The invalidity or unenforceability of a
particular provision of the Agreement shall not affect the enforceability of any other provisions hereof and the Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 
  

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 12. Amendments To The Agreement. The Agreement may only be amended in writing by an agreement executed by both parties
hereto. 
 13. Entire Agreement. The Agreement contains the entire agreement of the parties hereto and supersedes any and all prior agreements, oral or
written, and negotiations between said parties regarding the subject matter contained herein. 
 14. Applicable Law and Venue. The Agreement is entered
into under, and shall be governed for all purposes, by the laws of the State of Florida, with venue of any lawsuit between the parties being in Orange County, Florida. 
 15. No Waiver. No failure by either party hereto at any time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of the Agreement shall be deemed a waiver
of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 
 16. Severability. If a Court of competent
jurisdiction determines that any provision of the Agreement is invalid or unenforceable, then the invalidity or unenforceability of that provision shall not affect the validity or unenforceability of any other provision of the Agreement, and all
other provisions shall remain in full force and effect. 
 17. Counterparts. The Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original, but all of which together will constitute one in the same agreement. 
 18. Withholding of Taxes and Other Employee
Deductions. The Company may withhold from any benefits and payments made pursuant to the Agreement all federal, state, city and other taxes as may be required pursuant to any law or governmental regulation or ruling. 
 19. Indemnification. The Company shall indemnify Employee from any claims, demands or liabilities of any kind or nature arising out of his employment with the
Company, that are not the result of his own actions, or actions within his control. 
 20. Gender Correction and Neutrality. This Agreement may contain
one or more references to he or she, or his or her. It is stipulated and agreed that Employee is a male, and all such references, to the extent they are inconsistent with this, shall be deemed to be corrected 
 In witness whereof, the parties hereto have executed the Agreement as of the day and year above written. 
  

									
	General Automotive Company, Inc.	 		 		 	
					
	By:	 	 /s/ Tim Alford
	 		 	 /s/ Dan Valladao
	 	
	Tim Alford, Director and COO	 		 	Dan Valladao	 	

  

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