REGISTERED OR CERTIFIED MAIL, AS FOLLOWS
(PROVIDED THAT NOTICE OF CHANGE OF ADDRESS SHALL BE DEEMED GIVEN ONLY WHEN
RECEIVED):
If to the Company:
iParty Corp.
270 Bridge Street
12
Suite 301
Dedham, MA 02026
Attn: Corporate Secretary
With a required copy to:
Chairman of the Compensation Committee
of the Board of Directors
c/o iParty Corp.
270 Bridge Street
Dedham, MA 02026
If to the Executive:
Sal Perisano
288 Huron Avenue
Cambridge, MA 02138
16.
REMEDIES CUMULATIVE; NO WAIVER.
NO REMEDY CONFERRED UPON THE
COMPANY BY THIS AGREEMENT IS INTENDED TO BE EXCLUSIVE OF ANY OTHER REMEDY, AND
EACH AND EVERY SUCH REMEDY SHALL BE CUMULATIVE AND SHALL BE IN ADDITION TO ANY
OTHER REMEDY GIVEN HEREUNDER OR NOW OR HEREAFTER EXISTING AT LAW OR IN EQUITY.
NO DELAY OR OMISSION BY THE COMPANY IN EXERCISING ANY RIGHT, REMEDY OR POWER
HEREUNDER OR EXISTING AT LAW OR IN EQUITY SHALL BE CONSTRUED AS A WAIVER
THEREOF, AND ANY SUCH RIGHT, REMEDY OR POWER MAY BE EXERCISED BY THE COMPANY
FROM TIME TO TIME AND AS OFTEN AS MAY BE DEEMED EXPEDIENT OR NECESSARY BY THE
COMPANY IN ITS SOLE DISCRETION.
17.
BINDING EFFECT.
THE EXECUTIVE'S RIGHTS AND OBLIGATIONS UNDER THIS
AGREEMENT SHALL NOT BE TRANSFERABLE BY ASSIGNMENT OR OTHERWISE, SUCH RIGHTS
SHALL NOT BE SUBJECT TO ENCUMBRANCE OR THE CLAIMS OF THE EXECUTIVE'S CREDITORS,
AND ANY ATTEMPT TO DO ANY OF THE FOREGOING SHALL BE VOID.
THE PROVISIONS OF
THIS AGREEMENT SHALL BE BINDING UPON AND INURE TO THE BENEFIT OF THE EXECUTIVE
AND HIS HEIRS AND PERSONAL REPRESENTATIVES, AND SHALL BE BINDING UPON AND INURE
TO THE BENEFIT OF THE COMPANY AND ITS SUCCESSORS AND THOSE WHO ARE ITS ASSIGNS
UNDER SECTION 13.
18.
ENTIRE AGREEMENT; CONTENTS OF AGREEMENT.
(A)
EFFECTIVE AS OF APRIL 1, 2007, THIS AGREEMENT SUPERSEDES ALL PRIOR
AGREEMENTS IN THEIR ENTIRETY, INCLUDING WITHOUT LIMITATION THE PRIOR EMPLOYMENT
AGREEMENT, AND SETS FORTH THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH
RESPECT TO THE SUBJECT MATTER HEREOF.
THIS AGREEMENT CANNOT BE CHANGED,
MODIFIED, EXTENDED OR TERMINATED EXCEPT UPON WRITTEN AMENDMENT EXECUTED BY THE
EXECUTIVE AND APPROVED BY THE BOARD AND EXECUTED ON BEHALF OF THE COMPANY BY A
DULY AUTHORIZED OFFICER.
THE EXECUTIVE ACKNOWLEDGES THAT THE EFFECT OF THIS
PROVISION IS THAT NO ORAL MODIFICATIONS OF ANY NATURE WHATSOEVER TO THIS
AGREEMENT SHALL BE PERMITTED.
(B)
THE EXECUTIVE ACKNOWLEDGES THAT FROM TIME TO TIME, THE COMPANY
13
MAY ESTABLISH, MAINTAIN AND DISTRIBUTE MANUALS OR HANDBOOKS OR PERSONNEL POLICY
MANUALS, AND OFFICERS OR OTHER REPRESENTATIVES OF THE COMPANY MAY MAKE WRITTEN
OR ORAL STATEMENTS RELATING TO PERSONNEL POLICIES AND PROCEDURES.
SUCH MANUALS,
HANDBOOKS AND STATEMENTS ARE INTENDED ONLY FOR GENERAL GUIDANCE.
NO POLICIES,
PROCEDURES OR STATEMENTS OF ANY NATURE BY OR ON BEHALF OF THE COMPANY (WHETHER
WRITTEN OR ORAL, AND WHETHER OR NOT CONTAINED IN ANY MANUAL OR HANDBOOK OR
PERSONNEL POLICY MANUAL), AND NO ACTS OR PRACTICES OF ANY NATURE, SHALL BE
CONSTRUED TO MODIFY THIS AGREEMENT OR TO CREATE EXPRESS OR IMPLIED OBLIGATIONS