Document:

EX-10.5

Exhibit 10.5

Employment Agreement

     This
Employment Agreement (the “Agreement”) is entered into this
13th day of November,
2006 by and between Globe Specialty Metals, Inc. (the “Company”) and Arden Sims
(“Executive”).

     WHEREAS, the Company desires to employ Executive on the terms and conditions set forth herein;
and

     WHEREAS, Executive has agreed to perform services for the Company as set forth below.

     NOW THEREFORE, in consideration of the mutual covenants set forth herein, the parties
agree as follows:

1. Position. Executive shall serve as the Company’s Chief Operating Officer (“COO”)
reporting to the Company’s Chief Executive Officer (“CEO”). Executive shall perform such
responsibilities that are normally associated with the COO position and as otherwise may be
assigned to Executive from time to time by the CEO. Executive’s position shall commence on
the date this Agreement is executed (the “Commencement Date”).

2. Term. Executive’s employment will be for a term of three (3) years from the
Commencement Date, with automatic one (1) year renewal terms thereafter (collectively, the
“Term”) unless Executive or the Company give written notice to the other at least ninety (90)
days prior to the expiration of any Term of such party’s election not to further extend this
Agreement. Any termination of Executive’s employment will be governed by the terms set forth
in this Agreement. Termination of this Agreement shall be effectuated in writing, and notice of
which shall be provided at least thirty (30) days prior to the effective date of such termination.

3. Compensation and Benefits.

     (a) Executive’s base pay shall be at an annual rate of $400,000.00, which shall be
payable in accordance with the Company’s customary payroll practices, minus customary
deductions for federal and state taxes and the like (the “Base Pay”). Executive’s Base Pay
shall be subject to annual adjustments at the discretion of the Company based on merit.

     (b) Bonuses shall be awarded at the discretion of the Company.

     (c) The Company shall award Executive a stock option to purchase 500,000 shares of
the Company’s common stock (the “Option”) at the following strike prices: 1/3 of the Option
shall be priced at $6.25 (the “First Tranche”); 1/3 of the Option shall be priced at $8.50
(the “Second Tranche”); and the final 1/3 of the Option shall be priced at $10.00 (the “Third
Tranche”). Provided Executive continues to be employed by the Company on each of the
following vesting dates, the First Tranche shall vest on the first anniversary of the
Commencement Date, the Second Tranche shall vest on the second anniversary of the
Commencement Date, and the Third Tranche shall vest on the third anniversary of the

 

 

Commencement Date. The Option shall be governed by a stock option plan to be adopted by the
Company, except to the extent such plan is inconsistent with any of the terms set forth in this
Agreement.

     (d) Executive shall be offered the various benefits currently offered by the Company
generally to its employees including, without limitation, life and health insurance. Any such
benefits may be modified or changed from time to time at the sole discretion of the Company.
Where a particular benefit is subject to a formal plan (for example, medical insurance),
eligibility
to participate in and receive any particular benefit is governed solely by the applicable
formal
plan document. Executive shall be fully reimbursed for all reasonable and necessary business
expenses upon presentation of adequate documentation to the Compare demonstrating same.

     (e) Executive
will be granted twenty (20) paid time off days (“PTO” days) for
Executive’s use for vacation, personal or sick leave. Executive’s accrued but unused PTO days
shall not be paid to Executive upon termination of employment.

4. Severance.

     (a) In the event Executive is terminated without “Cause” as such term is defined
below, or in the event that Executive resigns “For Good Reason” as such term is defined
below,
Executive shall be entitled to severance in the amount of one year of his Base Pay, to be paid
on
a payroll basis, provided Executive first executes a release in a form reasonably satisfactory
to
the Company. In addition, Executive shall be entitled to continued health insurance coverage
for
a one-year period at the Company’s expense (collectively, the “Severance Pay and Benefits”).
The Severance Pay and Benefits are conditioned upon Executive’s compliance with Section 6
below.

     (b) For purposes of this Agreement, “Cause” shall mean termination for:

          (i) Executive’s
conviction or entry of nolo contendere to any felony or crime involving moral
turpitude, material fraud or embezzlement of the Company’s property or a charge or
indictment of any other felony; or

          (ii) Executive’s breach of any of the material terms of this Agreement, including the
confidentiality obligations set forth herein.

     (c) For purposes of this Agreement, “For Good Reason” shall mean Executive’s
resignation following:

          (i) a material breach by the Company of its obligations hereunder, provided Executive has first
given notice to the Company of such alleged breach and the Company has failed to cure same within
ten (10) days of receipt of such notice; or

          (ii) Executive’s compensation and benefits are materially reduced.

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     (d) Severance Pay shall not be required under this Agreement if (i) Executive
terminates employment voluntarily, other than For Good Reason; or (ii) Executive is terminated
for Cause; or (iii) this Agreement terminates because of Executive’s death.

     (e) Notwithstanding any other provision with respect to the timing of payments under
this Section, if, at the time of Executive’s termination, Executive is deemed to be a
“specified
employee” of the Company within the meaning of Code Section 409A, then limited only to the
extent necessary to comply with the requirements of Code Section 409A, any payments to which
Executive may become entitled under Section 4 which are subject to Code Section 409A (and
not otherwise exempt from its application) will be withheld until the first (1st) business day
of the seventh (7th) month following Executive’s termination of employment, at which time
Executive shall be paid an aggregate amount equal to the accumulated, but unpaid, payments
otherwise due to Executive under the terms of Section 4(a).

     (f) The Company does not guarantee the tax treatment or tax consequences
associated with any payment or benefit set forth in this Agreement, including but not limited
to consequences related to Code Section 409A. Executive and the Company agree to both
negotiate in good faith and jointly execute an amendment to modify this Agreement to the
extent necessary to comply with the requirements of Code Section 409A; provided that no such
amendment shall increase the total financial obligation of the Company under this Agreement.
In the event that the Company determines in good faith that it is required to withhold taxes
from any payment or benefit already provided to Executive, Executive agree to pay on demand the
amount the Company has determined to the Company.

5. Indemnity. The Company shall indemnify Executive and hold Executive harmless from
any and all claims arising from or relating to Executive’s performance of Executive’s duties
hereunder to the fullest extent permitted by law and/or the Company’s Directors and Officers
Liability Insurance or applicable certificate of incorporation or bylaws or other applicable
document.

6. Confidentiality, Non-Competition and Non-Solicitation.

     (a) Definition: “Confidential Information” means all Company proprietary information,
technical data, trade secrets, know-how and any idea in whatever form, tangible or intangible,
including without limitation, research, product plans, customer and client lists,
developments,
inventions, processes, technology, designs, drawings, marketing and other plans, business
strategies and financial data and information. “Confidential Information” shall also mean
information received by the Company from customers or clients or other third parties subject
to a
duty to keep confidential.

     (b) Duty Not to Disclose: Executive will be exposed to and have access to the
Company’s Confidential Information. Executive agree to hold all Confidential Information in
strict confidence and trust for the sole benefit of the Company and he will not disclose, use,
copy, publish, summarize, or remove any Confidential Information from the Company’s
premises, except as specifically authorized in writing by the Company or in connection with
the
usual course of Executive’s employment.

3

 

     (c) Documents and Materials: Executive further agrees that Executive will return all
Confidential Information, including all copies and versions of such Confidential Information
(including but not limited to information maintained on paper, disk, CD-ROM, network server,
or any other retention device whatsoever) and other property of the Company, to the Company
immediately upon cessation of Executive’s employment with the Company. These terms are in
addition to any statutory or common law obligations that Executive may have relating to the
protection of the Company’s Confidential Information or its property. These restrictions
shall
survive the termination of employment.

     (d) Noncompetition and Nonsolicitation.

          (i) During the Term and for a period of twelve (12) months after the termination of
Executive’s employment for any reason, Executive will not, directly or indirectly, whether as an
employee, consultant or other affiliate, engage in a business competitive with that of the Company
in the geographic area in which the Company does business.

          (ii) During the Term and for a period of twelve (12) months after the termination of
Executive’s employment for any reason, Executive will not, directly or indirectly, recruit, solicit
or induce, or attempt to recruit, solicit or induce any employee or employees of the Company to
terminate their employment with, or otherwise cease their relationship with, the Company.

          (iii) During the Term and for a period of twelve (12) months after termination of
Executive’s employment for any reason, Executive will not, directly or indirectly, solicit, divert
or take away, or attempt to solicit, divert or take away, the business or patronage of any of the
clients, customers or accounts, or prospective clients, customers or accounts, of the Company.

     (e) If any restriction set forth in this Section is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographic area, it shall be interpreted to extend
only over the maximum period of time, range of activities or geographic area as to which it may be
enforceable.

     (f) The restrictions contained in this Section are necessary for the protection of the
business and goodwill of the Company and are considered by Executive to be reasonable for
such purpose. Executive agrees that any breach of this Section will cause the Company
substantial and irrevocable damage and therefore, in the event of any such breach, in addition
to such other remedies which may be available, the Company shall have the right to seek specific
performance and injunctive relief.

     (g) Executive represents that his performance of all the terms of this Agreement as an
employee of the Company does not and will not breach any (i) agreement to keep in confidence
proprietary information, knowledge or data acquired by him in confidence or in trust prior to
his employment with the Company or (ii) agreement to refrain from competing, directly or
indirectly, with the business of any previous employer or any other party.

4

 

7. Notices. All notices required or permitted under this Agreement shall be in writing and
shall be deemed effective upon (a) the date of receipt, if sent by personal delivery (including
delivery by reputable overnight courier), or (b) the date of receipt or refusal, if deposited in
the
United States Post Office, by registered or certified mail, postage prepaid and return receipt
requested, or (c) by facsimile transmission at the address of record of Executive or the Company,
or at such other place as may from time to time be designated by either party in writing.

8. Assignment. This Agreement is not assignable by Executive but may be assigned by the
Company without Executive’s prior consent.

9. Merger Clause/Governing Law/Jury Waiver. This Agreement constitutes the entire
agreement regarding the terms and conditions of Executive’s employment with the Company.
This Agreement supersedes any prior agreements, or other promises or statements (whether oral
or written) regarding the terms of employment. This Agreement may only be amended in a
writing that is executed by both Executive and the Company. This Agreement shall be governed
by the law of the State of Delaware without regard to conflicts of laws. Executive hereby waives
trial by jury with respect to any action arising out of or relating to this Agreement or
Executive’s
employment by the Company.

	 	 	 	 	 
	 	

Globe Specialty Metals, Inc.

 	 
	 	By:  	/s/ Alan Kestenbaum
 	 
	 	 	Its: 	 

	 	 	 	 	 
	 	                                                      /s/ Arden Sims
 	 
	 	Arden Sims 	 

					
	 	
 	 
	 	Date executed 	 
	 	 	 
	 

5EX-10.6

Exhibit 10.6

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT is made and entered into as of this 31 day of May, 2006, by and
between SOLSIL, INC., a Delaware corporation with offices at
[                     ] (the “Corporation”), and Arden Sims, an individual residing at
                     (the “Executive”).

RECITALS:

     A. The Corporation is a company primarily engaged in the manufacture and sale of
solar grade silicon (the “Business”).

     B. The Corporation desires to secure the services of the Executive upon the terms
and conditions hereinafter set forth; and

     C. The Executive desires to render services to the Corporation upon the terms and
conditions hereinafter set forth.

     NOW, THEREFORE, the parties mutually agree as follows:

     1. Employment. The Corporation hereby employs the Executive and the Executive
hereby accepts employment as an executive of the Corporation, subject to the terms and
conditions set forth in this Agreement.

     2. Duties. The Executive shall serve as President and Chief Executive Officer of the
Corporation with such duties, responsibilities and authority as are commensurate and
consistent
with his position, as may be, from time to time, assigned to him by the Board of Directors of
the
Corporation (the “Board”). The Executive shall report
directly to the Board. During the Term
of
this Agreement, the Executive shall devote up to 25% of his full business time and efforts
necessary for the performance of his duties hereunder. Notwithstanding the foregoing, nothing
herein shall prevent the Executive from being employed by, acting as consultant to, or
otherwise
rendering services of any nature for or on behalf of any person or entity, making personal
investments, or conducting private business affairs and charitable and professional
activities,
provided such activities do not materially interfere with the services required to be rendered
to the Corporation hereunder and do not violate the restrictive covenants set forth in
Section 9
below.

     3. Term of Employment. The term of the Executive’s employment hereunder,
unless sooner terminated as provided herein (the “Initial Term”), shall be for a period of
three
years commencing on the date hereof (the “Commencement Date”). The term of this Agreement
shall automatically be extended for additional one-year terms (each a “Renewal Term”) unless
either party gives prior written notice of non-renewal to the other party no later than sixty
days
prior to the expiration of the Initial Term (“Non-Renewal Notice”), or the then current
Renewal
Term, as the case may be. For purposes of this Agreement, the Initial Term and any Renewal
Term are hereinafter collectively referred to as the “Term.”

 

 

     4. Compensation of Executive.

          (a) The Corporation shall pay, the Executive as compensation for his services
hereunder, in accordance with the Corporation’s regular payroll practices, during the Term,
the
sum of One Hundred Fifty Thousand Dollars ($150,000) per annum (the
“Base Salary”), less
such deductions as shall be required to be withheld by applicable law. The Base Salary shall
be increased (but shall not be decreased) on an annual basis in an amount determined by the
Board.

          (b) In addition to the Base Salary set forth in Section 4(a) above, the
Executive shall be entitled to such bonus compensation (in cash, capital stock or other
property)
as of the Board may determine from time to time in its sole discretion.

          (c) The Corporation shall pay or reimburse the Executive for all out-of-pocket
expenses reasonable incurred or paid by the Executive in the course of his employment,
consistent with the Corporation’s policy for reimbursement of expenses.

          (d) The Executive shall be entitled to participate in such pension, profit
sharing, group insurance, hospitalization, and group health and benefit plans and all other
benefits and plans as the Corporation provides to its senior executives (the “Benefit Plans”).

          (e) The Executive shall be granted a ten-year non-qualified stock option to
purchase 50 shares of common stock, par value $0.01 per share, of the Corporation at an
exercise
price of $50,000 per share, under the Corporation’s 2006 Non-Qualified Stock Plan (the
“Option”). The Option shall vest and become exercisable with respect to 16.66 shares on the
date hereof and with respect to an additional 16.67 shares, on each of the first and second
anniversaries of the date hereof, provided however, that in the event the Executive is
terminated
without Cause or resigns for Good Reason or upon a Change of Control (as such terms are
defined below) all unvested shares subject to the Option shall automatically vest and become
immediately exercisable.

     5. Termination.

          (a) This Agreement and the Executive’s employment hereunder shall terminate
upon the happening of any of the following events:

               (i) upon the Executive’s death;

               (ii) upon the Executive’s Total Disability (as herein defined);

               (iii) upon the expiration of the Initial Term of this Agreement or any Renewal Term thereof,
if either party has provided a timely Non-Renewal Notice in accordance with Section 3, above;

               (iv) at the Corporation’s option, without Cause, upon sixty days prior written notice to the
Executive;

               (v) at the Executive’s option, without Good Reason, upon sixty days prior written notice to
the Corporation;

 

 

               (vi) at the Executive’s option, in the event of an act by the Corporation, defined in Section
5(c), below, as constituting Good Reason for termination by the Executive; and

               (vii) at the Corporation’s option, in the event of an act by the Executive, defined in
Section 5(d), below, as constituting Cause for termination by the Corporation.

          (b) For purposes of this Agreement, the Executive shall be deemed to be
suffering from a “Total Disability” if the Executive has failed to perform his regular and
customary duties to the Corporation for a period of 180 days out of any 360-day period and if
before the Executive has become “Rehabilitated” (as herein defined) due to a mental or
physical
incapacity resulting in the Executive’s inability to continue to materially perform his
regular and
customary duties of employment as determined by the Executive’s physician. As used herein,
the term “Rehabilitated” shall mean such time as the Executive is willing, able and commences
to devote his time and energies to the affairs of the Corporation to the extent and in the
manner
that he did so prior to his Disability.

          (c) For purposes of this Agreement, the term “Good Reason” shall mean that
the Executive has resigned due to (i) the failure of the Corporation to meet any of its
material
obligations to the Executive under this agreement between the Corporation and the Executive,
(ii) the material diminution of the Executive’s duties, responsibilities, title or authority,
(iii) the
failure, other than for Cause, to elect the Executive to, or removal, other than for Cause, of
the
Executive from, the Board or (iv) a Change of Control shall have occurred.

          (d) For purposes of this Agreement, the term “Cause” shall mean material,
gross and willful misconduct on the part of the Executive in connection with his employment
duties hereunder or conviction of a felony or act of dishonesty by the Executive.

          (e) For purposes of this Agreement, the term “Change of Control” shall mean
(i) the direct or indirect sale, lease, exchange or other transfer (other than a license in
the
ordinary course of Business) of all or substantially all (more than 50%) of the assets of the
Corporation to any person or entity or group of persons or entities acting in concert as a
partnership or other group (a “Group of Persons”), (ii) the merger, consolidation or other
business combination of the Corporation with or into another corporation with the effect that
the
stockholders of the Corporation, immediately following the merger, consolidation or other
business combination, hold less than 50% of the combined voting power of the then outstanding
securities of the surviving corporation of such merger, consolidation or other business
combination having the right to vote in the election of directors, (iii) the replacement of a
majority of the Corporation’s Board of Directors, or (iv) a person or Group of Persons shall,
as a
result of a tender or exchange offer, open market purchases, privately negotiated purchases or
otherwise, have become the beneficial owner (within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended) of securities of the Corporation representing
more
than 50% of the combined voting power of the then outstanding securities of the Corporation
having the right to vote in the election of directors.

 

 

     6. Effects of Termination.

          (a) Upon termination of the Executive’s employment pursuant to Section
5(a)(i), the Executive’s estate or beneficiaries shall be entitled to the following benefits:
(i) three
months’ Base Salary at the then current rate, payable in a lump sum, less withholding of
applicable taxes; and (ii) continued provision for a period of one year following the
Executive’s
death of benefits under Benefit Plans extended from time to time by the Corporation to its
senior
executives.

          (b) Upon termination of the Executive’s employment pursuant to Section
5(a)(ii), the Executive shall be entitled to the following benefits: (i) twelve months’ Base
Salary
at the then current rate, to be paid from the date of termination in accordance with the
Corporation’s regular payroll practices, including the withholding of all applicable taxes;
(ii) continued provision during such twelve-month period of the benefits under Benefit Plans
extended from time to time by the Corporation to its senior executives; and (iii) payment on a
prorated basis of any bonus or other payments earned in connection with the Corporation’s
then-existing bonus plan in place at the time of termination.

          (c) Upon termination of the Executive’s employment pursuant to Section
5(a)(iii), where the Corporation has offered to renew the term of the Executive’s employment
for
an additional one-year period and the Executive chooses not to continue in the employ of the
Corporation, the Executive shall be entitled to receive the following benefits: (i) the
accrued but
unpaid compensation and vacation pay through the date of termination; and (ii) any other
benefits accrued to him under any Benefit Plans outstanding at such time. In the event the
Corporation tenders a Non-Renewal Notice to the Executive, then the Executive shall be
entitled
to the same benefits as if the Executive’s employment were terminated pursuant to Section
5(a)(iv) or Section 5(a)(vi); provided,  however, if such Non-Renewal Notice was
triggered due
to the Corporation’s statement that the Executive’s employment was terminated due to Section
5(a)(v) (for “Cause”), then payment of severance benefits shall be contingent upon a
determination as to whether termination was properly for Cause.

          (d) Upon termination of the Executive’s employment pursuant to Section
5(a)(iv) or (vi), the Executive shall be entitled to the following benefits: (i) continued
payment of
Executive’s Base Salary at the then current rate in monthly installments, less withholding of
all
applicable taxes for the greater of (A) twelve (12) months from the date of termination or (B)
that number of months remaining in the Initial Term; (ii) continued provision during the
twelve-month period following the date of termination of the benefits under Benefit Plans extended
from
time to time by the Corporation to its senior executives; (iii) payment on a prorated basis of
any
bonus or other payments earned in connection with the Corporation’s then-existing bonus plan
in
place at the time of termination; and (iv) upon Executive’s election, the Corporation shall
cancel
the Executive’s Option and pay the Executive the difference between the fair market value of
the shares issuable upon exercise of the Option and the exercise price of those shares. Upon
termination of the Executive’s employment pursuant to Section 5(a)(v) or (vii), the Executive
shall be entitled to the following benefits: (i) accrued and unpaid Base Salary and vacation
pay
through the date of termination, less withholding of applicable taxes; and (ii) continued
provision, for a period of one (1) month after the date of the Executive’s termination of

 

 

employment, of benefits under Benefit Plans extended to the Executive at the time of termination.

          Any payments required to be made hereunder by the Corporation to the Executive shall continue
to the Executive’s beneficiaries in the event of his death until paid in full.

     7. Vacations. The Executive shall be entitled to four weeks paid vacation per year.
The Executive shall take his vacation at such time or times as the Executive and the
Corporation
shall determine is mutually convenient.

     8. Confidential Information. The Executive recognizes, acknowledges and agrees
that he has and shall continue to have access to proprietary and confidential information
regarding the Corporation, including but not limited to, its products, formulae, patents,
sources of
supply, customer dealings, data, know-how, business plans, financial condition and prospects,
provided such information is not in or does not hereafter become part of the public domain, or
become known to others through no fault of the Executive (“Confidential Information”). The
Executive acknowledges that such information is of great value to the Corporation, is the sole
property of the Corporation, and has been and shall be disclosed to him in confidence. The
Executive shall therefore retain in strict confidence and not, at any
Time, during or after
his
employment hereunder, directly or indirectly, use, reveal, divulge, copy, transfer or make
known
to any person or entity, any Confidential Information except in furtherance of the Business
for
the benefit of the Corporation. The provisions of this Section 8 shall survive the termination
or
expiration of this Agreement.

     9. Covenant Not To Compete or Solicit.

          (a) The Executive acknowledges and recognizes the highly competitive nature of the business
of the Corporation. The parties confirm that it is necessary for the protection of the Corporation
and accordingly, the Executive agrees as follows:

               (i) During the Term and, for a period of twelve months following the date the Executive
ceases to be a employed by the Corporation (the “Restricted Period”), the Executive shall not,
directly or indirectly, in the United States, (i) engage in any business that materially competes
with the primary business of the Corporation, (ii) enter the employ of, or render any services to,
any person or entity engaged in any business that materially competes with the primary business of
the Corporation in the portions of the Business so competing, (iii) acquire a financial interest
in, or otherwise become actively involved with, any person or entity engaged in any business that
materially competes with the primary business of the Corporation, other than as an inactive
investor holding not more than 5% of the outstanding publicly traded securities of an entity which
is registered under Section 12(b) or 12(g) of the Securities Act of 1934 or (iv) interfere with,
or attempt to interfere with, business relationships between the Corporation and its customers,
clients, suppliers or investors.

               (ii) During the Restricted Period, except in performance of this Agreement, the Executive
shall not, directly or indirectly, (i) solicit or encourage any employee of the Corporation to
leave the employment of the Corporation or (ii) hire any such employee

 

 

who was employed by the Corporation as of the date of the Executive’s termination of employment for
the Corporation.

               (iii) During the Restricted Period, the Executive shall not, directly or indirectly, solicit
or encourage to cease to work with the Corporation any employee or consultant then under contract
with the Corporation.

          (b) It is expressly understood and agreed that although the Executive and the
Corporation consider the restrictions contained in this Section 9 to be reasonable, if a final
judicial determination is made by a court of competent jurisdiction that the time or territory
or
any other restriction contained in this Agreement is an unenforceable restriction against the
Executive, the provisions of this Agreement shall not be rendered void but shall be deemed
amended to apply as to such maximum time and territory and to such maximum extent as such
court may judicially determine or indicate to be enforceable. Alternatively, if a court of
competent jurisdiction finds that any restriction contained in this Agreement is
unenforceable,
and such restriction cannot be amended so as to make it enforceable, such finding shall not
affect
the enforceability of any of the other restrictions contained herein.

          (c) The provisions of this Section 9 shall survive the termination of the
Executive’s employment hereunder and until the end of the Restricted Period except in the
event
that this Agreement is terminated pursuant to Section 5(a)(iv) or (vi), hereof, in which case
such
provisions shall not survive termination of this Agreement.

     10. Miscellaneous.

          (a) The Executive acknowledges and agrees that the Corporation’s remedies
at law for a breach or threatened breach of any of the provisions of Section 8 and Section 9
would be inadequate and, in recognition of this fact, the Executive agrees that, in the event
of
such a breach or threatened breach, in addition to any remedies at law, the Corporation,
without
posting any bond, shall be entitled to obtain equitable relief in the form of specific
performance,
temporary restraining order, temporary or permanent injunction or any other equitable remedy
which may then be available.

          (b) Neither the Executive nor the Corporation may assign or delegate any of
their rights or duties under this Agreement without the express written consent of the other.

          (c) This Agreement constitutes and embodies the full and complete
understanding and agreement of the parties with respect to the Executive’s employment by the
Corporation, supersedes all prior understandings and agreements, whether oral or written,
between the Executive and the Corporation, and shall not be amended, modified or changed
except by an instrument in writing executed by the parties hereto. The invalidity or partial
invalidity of one or more provisions of this Agreement shall not invalidate any other
provision of
this Agreement. No waiver by either party of any provision or condition to be performed shall
be deemed a waiver of similar or dissimilar provisions or conditions at the same time or any
prior or subsequent time.

 

 

          (d) This Agreement shall inure to the benefit of, be binding upon and
enforceable against, the parties hereto and their respective successors, heirs, beneficiaries
and
permitted assigns.

          (e) The headings contained in this Agreement are for convenience of
reference only and shall not affect in any way the meaning or interpretation of this
Agreement.

          (f) All notices, requests, demands and other communications required or
permitted to be given hereunder shall be in writing and shall be deemed to have been duly
given
when personally delivered, sent by registered or certified mail, return receipt requested,
postage
prepaid, or by private overnight mail service (e.g. Federal Express) to the party at the
address set
forth above or to such other address as either party may hereafter give notice of in
accordance
with the provisions hereof. Notices shall be deemed given on the sooner of the date actually
received or the third business day after sending.

          (g) This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware without giving effect to such state’s conflicts of laws
provisions and each of the parties hereto irrevocably consents to the jurisdiction and venue
of the
federal and state courts located in the State of New York.

          (h) This Agreement may be executed in counterparts (including facsimile signatures), each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

          (i) The Executive acknowledges and agrees that the firm of Arent Fox PLLC represents the
Corporation and is not acting as counsel or providing legal advice to the Executive, the Executive
may have an interest adverse to the company’s interest with respect to the subject matter of this
Agreement and the Executive has his own legal counsel and is relying on such legal counsel with
respect to this Agreement and the transactions contemplated hereby.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
set forth above.

	 	 	 	 	 
	 

	 	SOLSIL, INC.	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Alan Kestenbaum	 	 
	 

	 	 

Alan Kestenbaum
	 	 
	 

	 	[Title]	 	 
	 
	

	 	/s/
Arden Sims

	

	 	Arden Sims

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}]]