Document:

Exhibit 10.5 Employment Agreement dated September 11, 2018 between Mark Stogdill and Hammer Fiber Optics Holdings Corp.

 

EMPLOYMENT AGREEMENT

 

 

THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into this 11th day of September 2018, by and between Mark Stogdill, (the "Executive"), and Hammer Fiber Optic Investments, Ltd. ("Company"), a New Jersey limited company. 

 

RECITALS:

 

WHEREAS, Executive has the experience, background and knowledge to assist Company in the ongoing business operations of Company; 

 

WHEREAS, Company believes that it will benefit from the services of Executive during the ongoing business operations of Company; 

 

WHEREAS, Company desires to engage the services of Executive, and Executive desires to provide such services upon the terms and conditions described below. 

 

NOW THEREFORE, the parties, intending to be legally bound, agree as follows: 

 

1. Duties. 

 

Effective as of the date first written above, Executive’s title shall be Chief Technology Officer (“CTO”) of the Company. Executive shall report directly to either the Chief Executive Officer (“CEO”) or the Board of Directors of the Company (the “Board”). During the Executive's employment with the Company, Executive shall do and perform all services, acts or things necessary or advisable to manage and conduct the business of the Company and that are normally associated with the position of CTO.  

 

2. Term.

 

The term of this Agreement shall begin upon the date first written above and continue for a period of one (1) year (the “Term”). At the end of the Term, both parties may choose to extend the Term for additional one (1) year periods. 

 

3. Salary.

 

Company agrees to pay Executive a base salary of Ten Thousand Dollars ($10,000.00) per month, payable in accordance with the regular payroll practices of the Company. Executive’s salary shall be reviewed by the Board at the end of the Term and may be subject to change upon any extension of the Term. 

 

All of Executive’s compensation shall be subject to customary withholding taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 

 

4. Executive Benefits. 

 

For the duration of the Term, Company shall provide Executive with all benefits offered to executives of the Company at similar levels. In the case of health insurance, such benefits shall be provided either pursuant to the Company’s plan or Company shall reimburse Executive if Executive maintains his own health insurance. In the event of such reimbursement, Executive shall provide Company with the amount paid for such insurance (and, if requested, proof of such amount) and Company shall have ten (10) days to provide reimbursement. 

 

5. Expense Reimbursement.

 

Company shall reimburse Executive for all reasonable business expenses Executive incurs in conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies, but in no event later than thirty (30) days after the end of the calendar month following the month in which such expenses were incurred by Executive; provided that Executive promptly supplies the appropriate substantiation for such expenses. Reimbursable business expenses shall include reasonable expenses for air travel in accordance with the Company’s travel policies. 

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6. Termination.

 

a)Executive’s employment with the Company will terminate upon the date of Executive’s death or complete disability. Complete disability shall occur: (i) when the Board has provided a written termination notice to Executive supported by a written statement from a reputable independent physician to the effect that Executive is or shall have become so physically or mentally incapacitated as to be unable to resume, within the ensuing six (6) months, his employment under this Agreement by reason of such physical or mental illness or injury; or (ii) upon rendering of a written termination notice by the Board after the Board determines, in its sole and complete discretion, that Executive has been unable to substantially perform his duties hereunder for one hundred twenty (120) or more consecutive days, or more than eighty (80) days in any consecutive twelve (12) month period, by reason of any physical or mental illness or injury.
 

b)The Company may terminate Executive’s employment under this Agreement for cause at any time. Cause for the Company to terminate Executive’s employment hereunder shall mean the occurrence of any of the following events, as determined by the Company and/or the Board in its and/or their sole and absolute discretion: (i) Executive’s commission of any crime involving fraud, dishonesty or moral turpitude; (ii) Executive’s commission of or participation in a fraud or act of dishonesty against the Company that results in (or might have reasonably resulted in) material harm to the business of the Company; (iii) Executive’s intentional, material violation of any contract or agreement between Executive and the Company or any statutory duty Executive owes to the Company; or (iv) Executive’s conduct that constitutes gross insubordination, incompetence or habitual neglect of duties and that results in (or might have reasonably resulted in) material harm to the business of the Company; provided, however, that the action or conduct described in clauses (iii) and (iv) above will constitute “cause” only if such action or conduct continues after the Company has provided Executive with written notice thereof and thirty (30) days to cure the same.  

 

c)Executive’s employment with the Company may be terminated at any time upon a mutual agreement in writing of Executive and Company. Any such termination of employment shall have the consequences specified in such agreement. 

 

7. Loyalty. 

 

Executive agrees to use his best efforts to promote Company’s interests and to give Company the benefit of his experience, knowledge and skills. Executive agrees to perform his duties in a timely and professional manner and to devote such time, attention and skill to his duties as may reasonably be necessary to ensure their performance. Executive shall perform his responsibilities faithfully and effectively. Executive shall conduct all of his activities in a manner so as to maintain and promote the business and reputation of the Company. 

 

8. Confidentiality.

 

Executive acknowledges that during the Term of this Agreement he will have access to and may become acquainted with various trade secrets, inventions, innovations, processes, relationships, information, records and specifications owned or licensed by Company and/or used by Company in connection with the operation of its business including, without limitation, Company's business and product processes, methods, customer lists, contracts, accounts and procedures. 
 

a)Executive agrees that he will not disclose any of the aforesaid, directly or indirectly, or use any of them in any manner, either during the Term of this Agreement or for a period of five (5) years thereafter, except as required in the course of his engagement with Company.  

 

b)All files, records, documents, specifications, information, letters, notes, notebooks, and similar items relating to the business of Company, whether prepared by the Executive or otherwise coming into his possession during the Term of this Agreement, shall remain the exclusive property of Company unless Company provides written permission for Executive to retain and/or use such items. 

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c)Executive shall have no obligation to maintain the confidentiality of information that: (i) he was in possession of prior to the start of this Agreement; (ii) he received rightfully from another party without restrictions on disclosure prior to his receipt from Company; (iii) Company has disclosed to an unaffiliated third party without any obligation to maintain such information in confidence; (iv) is or becomes available to the public through no breach of this Agreement; (v) is approved for release by Company, but only to the extent of such authorization; (vi) is independently developed by Executive or (vi) is required by law or regulation to be disclosed, but only to the extent and for the purposes of such required disclosure, and only if Executive first gives sufficient notice to Company of the requirement for the disclosure in order to allow Company an opportunity to obtain an appropriate protective order.  

 

9. Noncompetition.

 

During the Term of this Agreement, Executive shall not, directly or indirectly: 
 

a)Solicit or induce, or attempt to solicit or induce, any other employee or any other company that actively or previously had a business relationship with Company, for a circumventing relationship. Executive shall not circumvent its agreement to conduct business on behalf of Company; 
 

b)Take, or attempt to take, any actions detrimental to the relationship of Company and the Executive, or detrimental to Company’s relationship with its employees, contractors, customers, suppliers or associates. 

 

10. Entire Agreement. 

 

This Agreement constitutes the sole and only agreement between the parties with respect to the subject matter hereof and contains all of the promises, covenants, and agreements between the parties with respect to this matter. This Agreement cannot be modified except by an instrument signed by both parties. A waiver by either party of any term or condition of this Agreement in any instance shall not be deemed or construed as a waiver of such term or condition for the future or of any subsequent breach thereof.  

 

11. Interpretation of Provisions. 

 

Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law. If any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

 

12. Captions. 

 

The captions and headings in this Agreement are solely for purposes of identification and shall not in any manner alter or vary the interpretation or construction of this Agreement. 

 

13. Assignment. 

 

Neither party shall have the right to assign or otherwise transfer this Agreement to any third party without the prior written consent of the other party, except that Company may assign this Agreement to a wholly-owned subsidiary. 

 

14. Authority. 

 

Company and Executive each represent and warrant to the other that it has the full and unencumbered right to enter into this Agreement and to perform its obligations hereunder. 

 

15. Counterparts. 

 

This Agreement may be executed in counterparts, each of which shall constitute an original and both of which shall constitute one and the same instrument. 

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16. Governing Law. 

 

This Agreement shall be governed by, interpreted, construed and enforced in accordance the laws of the State of New Jersey.
 

17. Arbitration.

 

Any controversy arising in connection with or relating to this Agreement may be settled in New Jersey and shall be determined and finally settled by arbitration in accordance with the rules of the American Arbitration Association. Any award rendered therein shall be final and binding on each of the parties hereto and their successors and assigns, and judgment may be entered thereon in any court having jurisdiction.  

 

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement on the date first above written. 

 

 

HAMMER FIBER OPTIC INVESTMENTS, LTD.

 

By: /s/ Michael Cothill

Name: Michael Cothill

Title: Executive Chairman

 

EXECUTIVE:

 

By: /s/ Mark Stogdill

Name: Mark Stogdill

4Exhibit 10.6 Employment Agreement dated September 11, 2018 between Erik B. Levitt and Hammer Fiber Optics Holdings Corp.

EMPLOYMENT AGREEMENT 

 

This EMPLOYMENT AGREEMENT (this “Agreement”), dated as September 11, 2018 between HAMMER FIBER OPTICS HOLDINGS CORP, a corporation organized under the laws of the State of Nevada (the “Company”), and ERIK B. LEVITT (“Executive”).

 

WHEREAS, Executive is experienced in establishing and maintaining the operations of businesses engaged in the delivery of managed services and network solutions;

 

WHEREAS, Executive desires to provide services to the Company and the Company desires to retain the services of Executive;

 

WHEREAS, the Company and Executive desire to formalize the terms and conditions of Executive's employment with the Company.

 

NOW, THEREFORE, the Company and Executive hereby agree as follows:

 

1.Employment. 

 

1.1.General. The Company hereby employs Executive in the capacity of President and Chief Operating Officer of the Company or in such other executive position as may be mutually agreed upon by Executive and the Company. Executive hereby accepts such employment, upon the terms and subject to the conditions herein contained. 

 

1.2.Duties. During the Executive's employment with the Company, Executive will report directly to the Company’s Board of Directors. Executive will be responsible for those duties consistent with Executive’s position as may from time to time be assigned to or requested of Executive by the Board of Directors of the Company (the “Board”), including duties related to all of the Company’s holdings. Executive shall perform such responsibilities faithfully and effectively. Executive shall conduct all of his activities in a manner so as to maintain and promote the business and reputation of the Company. 

 

1.3.Full-Time Position. Executive, during the Term, will devote all of his business time, attention and skills to the business and affairs of the Company.  

 

1.4Certifications. Whenever the Company is required by law, rule or regulation or requested by any governmental authority or by the auditors to provide certifications with respect to the Company’s financial statements or filings with the Securities and Exchange Commission or any other governmental authority, Executive shall sign such certifications as may be reasonably requested by the Board of Directors of the Company, with such exceptions as Executive deems necessary to make such certifications accurate and not misleading. 

 

2.Compensation and Benefits. 

 

2.1.Base Salary. The Company shall pay to Executive as full compensation for any and all services rendered in any capacity during the term of his employment under this Agreement, an annualized base salary of Two Hundred Thousand US Dollars ($200,000 USD) (“Base Salary”), subject to increases, if any, as the Board of Directors shall determine, in its sole discretion. Executive’s Base Salary shall be payable in accordance with the regular payroll practices of the Company, as in effect from time to time. 

 

2.2.Additional Compensation. Executive shall have no guaranteed bonus. Any bonus payable to Executive shall be determined by the Board of Directors in its sole discretion. In addition, Executive shall be entitled to participate in such bonus programs as the Company may from time to time offer or provide to executives of the Company at similar levels. 

 

2.3.Executive Benefits. 

 

2.3.1.Expenses. The Company will reimburse Executive for expenses he reasonably and actually incurs in connection with the performance of his duties (including business travel and entertainment expenses), all in accordance with the Company's policies with respect thereto, as in effect from time to time. 

 

2.3.2.Benefit Plans. As long as Executive remains a full-time employee of the Company, Executive shall be entitled to participate in such executive benefit plans and programs as the Company may from time to time offer or provide to executives of the Company at similar levels.  

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2.3.3.Vacation. Executive shall be eligible for three (3) weeks of paid vacation per year pro-rated for any partial year. All vacation must be used by December 31 of each year of Executive’s employment. Up to one week of vacation time may be rolled into the following year. Any other unused vacation shall expire and Executive shall no longer be entitled to such vacation. No compensation shall be payable in respect of any unused vacation days. 

 

2.4.Employment Term. Executive’s employment by the Company pursuant to this Agreement shall commence on the date of this Employment Agreement and, except as provided in Section 3.1 hereof, will continue until September 30, 2021 (the “Term”). Thereafter, this Agreement shall be automatically extended for successive one-year terms unless notice shall be given in writing by either of the Company or Employee at least ninety (90) days prior to the end of such term (as it may be extended) that such party desires to terminate this Agreement.  

 

3.Termination of Employment. 

 

3.1.Events of Termination. Executive's employment with the Company will terminate upon the occurrence of any one or more of the following events: 

 

3.1.1.Death. In the event of Executive's death, Executive's employment will terminate on the date of death. 

 

3.1.2.Disability. In the event of Executive's Disability (as hereinafter defined), the Company will have the option to terminate Executive's employment by giving a notice of termination to Executive. The notice of termination shall specify the date of termination, which date shall not be earlier than thirty (30) days after the notice of termination is given. For purposes of this Agreement, “Disability” means the inability of Executive to substantially perform his duties hereunder for either 90 consecutive days or a total of 120 days out of 365 consecutive days as a result of a physical or mental illness, all as determined in good faith by the Board of Directors. 

 

3.1.3.Termination by the Company for Cause. The Company may, at its option, terminate Executive's employment for “Cause” (as defined below) as determined in good faith by a majority of the Board (exclusive of Executive if Executive shall then serve as a member of the Board) by giving a notice of termination to Executive specifying the reasons for termination and if Executive shall fail to cure same within thirty (30) days of him receiving the notice of termination his Employment shall terminate at the end of such thirty (30) day period; provided, however, that in the event the Board in good faith determines that the underlying reasons giving rise to such determination cannot be cured within such thirty (30) day period, then such cure period shall not apply and Executive's employment shall terminate on the date of Executive's receipt of the notice of termination. “Cause” shall mean (i) Executive's conviction of, guilty or no contest plea to, or confession of guilt of, a felony or other crime involving moral turpitude; (ii) an act or omission by Executive in connection with his employment that constitutes gross negligence, malfeasance, willful misconduct or other conduct that is materially injurious to the Company or any of its affiliates; (iii) a material breach by Executive of this Agreement; (iv) a continuing failure to perform such duties as are assigned to Executive by the Company in accordance with this Agreement, other than a failure resulting from a Disability as defined in Section 3.1.2 hereof; (v) Executive’s knowingly taking any action on behalf of the Company or any of its affiliates without appropriate authority to take such action; (vi) Executive’s knowing taking any action in conflict of interest with the Company or any of its affiliates given Executive’s position with the Company. 

 

3.2.Certain Obligations of the Company Following Termination of the Executive's Employment. Following the termination of Executive's employment under the circumstances described below, the Company shall pay to Executive in accordance with its regular payroll practices the following compensation and provide the following benefits in full satisfaction and final settlement of any and all claims and demands that Executive now has or hereafter may have hereunder against the Company or any of its affiliates: 

 

3.2.1.Death; Disability. In the event that Executive's employment is terminated by reason of Executive's death or Disability, Executive or his estate, as the case may be, shall be entitled to the following payments: 

 

(i) continuing payments of Base Salary through the date of death of Executive or the date of termination due to Executive’s Disability;

 

(ii) any additional compensation (including compensation pursuant to Section 2.2 and reimbursement pursuant to Section 2.3.1 hereof) earned but not yet paid with respect to the calendar year of termination, or, if based on annual performance, annualizing such performance to the date of death of Executive or the date of termination due to Executive's Disability and pro rating such additional compensation for the portion of the calendar year prior to such termination, payable at the time such additional compensation would have been payable but for such death or Disability; and

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(iii)The Company shall pay to Executive or his estate, as the case may be, the amounts and shall provide all benefits generally available under the employee benefit plans, and the policies and practices of the Company, determined in accordance with the applicable terms and provisions of such plans, policies and practices, in each case, as accrued to the date of termination or otherwise payable as a consequence of Executive's death or Disability. 

 

3.2.2.Termination by the Company for Cause. In the event Executive's employment is terminated by the Company pursuant to Section 3.1.3 hereof, Executive shall be entitled to no further compensation or other benefits under this Agreement except that portion of any unpaid Base Salary accrued and earned by him hereunder up to and including the effective date of such termination in accordance with Section 3.1.3 hereof. 

 

3.3.Nature of Payments. All amounts to be paid by the Company to Executive pursuant to this Section 3 are considered by the parties to be severance payments. In the event such payments are treated as damages, it is expressly acknowledged by the parties that damages to Executive for termination of employment would be difficult to ascertain and the above amounts are reasonable estimates thereof. 

 

3.4.Deferral of Employment Agreement. At Executives sole discretion, Executive may defer the Base Salary under this Employment agreement, including compensation. If the Executive elects to defer, Executive may be provided compensation as a contractor, Manhattan Carrier Company, LLC, by either 1stPoint Communications, LLC or Endstream Communications, LLC of up to the amounts Executive was collecting monthly for the three months prior to the acquisition of those entities by Company. This amount is Three Thousand, Three hundred US Dollars ($3,300 USD) per month, provided that those entities have sufficient funds to make a payment to Executive. For each month which Executive elects to defer, the Term shall be extended by one (1) month. The deferral does not constitute a waiver of any other rights under this Employment agreement by Executive. Company may request a deferral in writing to Executive at any time if the Company has less than Thirty Thousand US Dollars ($30,000 USD) per month of EBITDA pursuant to any interim financial report agreed to by Executive and Company, and such deferral will not be reasonably withheld. 

 

4.Confidentiality; Nonsolicitation; Non-Compete. 

 

Executive and Company shall enter into a Confidentiality, Nonsolicitation and Noncompete Agreement, the form of which is attached as Exhibit A hereto. The terms of that agreement and the duties and obligations thereunder shall be a part of this Agreement and Executive agrees to perform all of his duties and obligations thereunder.

 

5.Invention Disclosure and Assignment. 

 

5.1Reports During The Term. During the Term, Executive agrees to report to the Company fully and promptly in writing, all intellectual property (including inventions, ideas and discoveries, patentable or unpatentable, trade secrets and copyrightable works) that is made, developed, conceived or reduced to practice by Executive either solely or jointly with others resulting from or arising out of the work performed by Executive, within the scope of his responsibilities, or with the Company's or its affiliates facilities, equipment or supplies, or in connection with or that results from his use or knowledge of confidential or trade secret information that is proprietary to the Company or its affiliates. 

 

5.2Reports After the Term. Upon termination of Executive's employment with the Company, Executive agrees to report to the Company fully and promptly in writing, all intellectual property (including inventions, ideas and discoveries, patentable or unpatentable, trade secrets and copyrightable works) that is reduced to practice by Executive either solely or jointly with others, reasonably resulting from the work performed by Executive during employment by the Company within the scope of his or her responsibilities, or with the Company's or its affiliates facilities, equipment or supplies, or in connection with or which results from his or her use or knowledge of confidential or trade secret information which is proprietary to the Company. 

 

5.3Assignment to the Company. Executive agrees to hold all such intellectual property described in this Section 5 for the benefit of the Company and not to assign nor attempt to assign any rights therein to anyone other than the Company. Executive agrees to assign to the Company upon its request and without further compensation, all rights, title and interest in such intellectual property described in this Section 5 to which the Company is entitled as set forth in this Section 6, at any time whether during or subsequent to the Term. Executive shall execute and deliver in a prompt manner all proper documents provided by the Company and presented to Executive, including those necessary and attendant to domestic and foreign patent applications including, but not limited to, divisional, continuation, continuation-in-part, substitute and/or reissue applications, and all other instruments for the perfection of intellectual property rights including related registrations of issued patents, design patent applications and registrations, applications for utility models and industrial models and copyrights, as well as formal assignments thereof. The Company will pay all reasonable out-of-pocket expenses incurred by Executive in perfecting the Company's rights as they relate to assisting the Company in all proper ways in the acquisition and preservation of the rights to such intellectual property as described in this subsection 5.3. 

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5.4No Exceptions. Executive represents, warrants, acknowledges and agrees that there are no unpatented inventions, discoveries, ideas or information currently held by Executive which are to be within the scope of this agreement. 

 

6.Miscellaneous Provisions. 

 

6.1.Severability. If in any jurisdiction any term or provision hereof is determined to be invalid or unenforceable, (a) the remaining terms and provisions hereof shall be unimpaired, (b) any such invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction, and (c) the invalid or unenforceable term or provision shall, for purposes of such jurisdiction, be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. 

 

6.2.Execution in Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement (and all signatures need not appear on any one counterpart), and this Agreement shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. 

 

6.3.Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed duly given when delivered by hand, or when delivered if mailed by registered or certified mail or overnight delivery, postage prepaid, return receipt requested as follows:  

 

If to the Company, to:

 

Hammer Fiber Optics Holdings Corp

15 Corporate Place South

Suite 100

Piscataway, NJ 08854

Attention: General Counsel

 

 

With a copy to (which shall not constitute notice):

 

__________________________________

__________________________________

__________________________________

__________________________________

 

If to Executive, to:

 

Erik B. Levitt

401 East 34th Street, #N19J

New York, NY 10016

 

or to such other address(es) as a party hereto shall have designated by like notice to the other parties hereto.

 

6.4.Amendment. No provision of this Agreement may be modified, amended, waived or discharged in any manner except by a written instrument executed by the Company and Executive. 

 

6.5.Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties hereto, oral or written, with respect to the subject matter hereof. 

 

6.6.Applicable Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts entered into and to be performed wholly within said State. Executive and the Company hereby consent to the jurisdiction of the Federal and State courts located in the City of New York and waive any objections to such courts based on venue in connection with any claim or dispute arising under this Agreement. Each of the parties hereto hereby irrevocably waives any and all right to a trial by jury in any legal proceedings arising out of or relating to this Agreement. 

 

6.7.Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement.  

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6.8.Binding Effect; Successors and Assigns. Executive may not delegate his duties or assign his rights hereunder. This Agreement will inure to the benefit of, and be binding upon, the parties hereto and their respective heirs, legal representatives, successors and permitted assigns. 

 

6.9.Waiver, etc. The failure of either of the parties hereto to at any time enforce any of the provisions of this Agreement shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Agreement or any provision hereof or the right of either of the parties hereto to thereafter enforce each and every provision of this Agreement. No waiver of any breach of any of the provisions of this Agreement shall be effective unless set forth in a written instrument executed by the party against whom or which enforcement of such waiver is sought, and no waiver of any such breach shall be construed or deemed to be a waiver of any other or subsequent breach. 

 

6.10.Representations and Warranties. Executive and the Company hereby represent and warrant to the other that: (a) he or it has full power, authority and capacity to execute and deliver this Agreement, and to perform his or its obligations hereunder; (b) such execution, delivery and performance will not (and with the giving of notice or lapse of time or both would not) result in the breach of any agreements or other obligations to which he or it is a party or he or it is otherwise bound; and (c) this Agreement is his or its valid and binding obligation in accordance with its terms. Executive represents and warrants that he is under no other obligations, contractual or otherwise, that could impair his ability to perform his obligations under this Agreement. Executive hereby acknowledges that he has been advised, prior to the execution of this Agreement, to seek the advice of legal counsel. Executive hereby further acknowledges that he has carefully reviewed this Agreement, that he knows and understands the contents of this Agreement, that he has been given adequate time to consider whether to execute this Agreement, that he executed this Agreement knowingly and voluntarily as his own free act and deed, and that this Agreement was freely entered into without fraud, duress or coercion. 

 

6.11.Enforcement. If any party institutes legal action to enforce or interpret the terms and conditions of this Agreement, the prevailing party shall be awarded reasonable attorneys' fees at all trial and appellate levels, and the expenses and costs incurred by such prevailing party in connection therewith. 

 

6.12.Continuing Effect. Where the context of this Agreement requires, the respective rights and obligations of the parties shall survive any termination or expiration of the term of this Agreement. 

 

6.13.Expenses. Each party to this Agreement agrees to bear his or its own expenses in connection with the negotiation and execution of this Agreement. 

 

[Signature Page to Follow]

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IN WITNESS WHEREOF, this Employment Agreement has been executed and delivered by the parties hereto as of the date first above written.

 

HAMMER FIBER OPTICS HOLDINGS CORP.

 

 

 

By: /s/ Mark Stogdill 

Name: Mark Stogdill

Title: Executive Director

Date: September 11, 2018

 

 

EXECUTIVE:

 

 

/s/ Erik B. Levitt

Erik B. Levitt

Date: September 11, 2018

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