Document:

ex10-2.htm

Exhibit 10.2

 

BUILDING LEASE

	
 

DATE OF LEASE

	
 

TERM OF LEASE

	
 

MONTHLY RENT

	
 

 

May 7, 2012

 

	
 

BEGINNING

	
 

ENDING

	
 

Base rent beginning at $8,333.33 and escalating per the schedule below for consecutive lease years, plus additional payments as provided below

	
 

May 7, 2012

 

	
 

04/30/2015

	
 

Location of Premises: 8121 Ogden Avenue, Lyons, Illinois 60534 - the entire property, building and lot

 

	
 

Purpose: General office and related activities

 

 

	Lessee:       	 	Lessor:	 
	 	 	 	 
	Name:	Artisan Specialty Foods, Inc.	Name:	David and Sherri Vohaska
	Address:  	3845 Beck Boulevard	Address: 	5 Arcadia Court
	 	Suite 805	 	Burr Ridge, Illinois 60527
	 	Naples, Florida 34114	 	 

 

In consideration of the mutual covenants and agreements herein stated, Lessor hereby leases to Lessee and Lessee hereby leases from Lessor solely for the above purpose the premises designated above (the APremises@), together with the appurtenances thereto, for the above term.

1.   LEASE TERM.   This lease shall commence effective May 7, 2012 for a term of three years through and including April 30, 2015.  The above notwithstanding, in the event there is a material breach by David Vohaska of a provision of the Stock Purchase Agreement dated May 7, 2012 between him, Lessee and Innovative Food Holdings, Inc., Lessee shall have the right to terminate this Lease upon ten (10) days written notice to Lessor

2.   BASE RENT   Lessee shall pay Lessor or Lessor's agent as monthly Base Rent for the Premises the sum stated below, monthly in advance, upon the first day of every calendar month of the term hereof until termination of this lease, at Lessor's address stated above or such other address as Lessor may designate in writing:

 

	05/07/12 through 04/30/13   	$8,333.33 per month	 	 	 	 	 	 	 	 
	05/01/13 through 04/30/14	$8,416.66 per month	 	 	 	 	 	 	 	 
	05/01/14 through 04/30/15	$8,500.82 per month	 	 	 	 	 	 	 	 

 

Reference is made to an employment agreement dated of even date herewith between Lessee and David Vohaska (the AEmployment Agreement@).  In the event Employee (as defined in the Employment Agreement) terminates the Employment Agreement within the initial 18 months without Good Reason (as defined in the Employment Agreement) or it is terminated by the Company for cause (as both terms are defined in the Employment Agreement), Lessee shall not be required to pay rent for such number of months remaining between such early termination and the second anniversary of the date of the Employment Agreement.  In the event such early termination occurs between months 19 and 24, there shall be a six months abatement of rent.

  

  

  

 

3.   SECURITY DEPOSIT.  Lessee shall deposit with Lessor or Lessor's agent the sum of $8,333.33 as a ASecurity Deposit@. Said Security Deposit shall be security for the performance by the Lessee of all the conditions required to be performed by the Lessee under this Lease. Lessor shall return to Lessee the Security Deposit after the expiration of the term of this Lease provided that Lessee has performed all such conditions. In the event of default by the Lessee in respect of any of the conditions in this Lease, including, but not limited to, the payment of rent and additional rent, the Lessor may use, apply or retain all or any part of such Security Deposit for the payment of any unpaid rent and additional rent or for any other amount which the Lessor may require to spend by reason of default of the Lessee, including any damages or deficiency in the reletting of the Leased property regardless of whether the actual incurrence of such damages or deficiency occurs before or after an eviction or summary re-entry or other re-entry by Lessor.

4.   REAL ESTATE TAXES.  It is further agreed between the parties hereto that in addition to the rental provided for herein that Lessee will also pay during the term of this Lease, as additional rent, all real estate taxes assessed upon the premises over and above the amount of such real estate taxes levied upon the Premises in 2009 and payable in 2010. The taxes paid during 2010 for 2009 were $58,058.64 (the ATax Stop”). However, the additional rent relating to an increase in taxes for a lease year shall be capped at 5% of the tax for the previous year. To insure the payment of such additional rent, Lessee shall pay to Lessor on the first day of each and every month at the time of payment of the rental provided for herein one-twelfth (1/12th) of the annual taxes due over said Tax Stop, which lessor shall estimate based upon 105% of the previous years taxes. The monies paid by Lessee as aforesaid shall be used by Lessor to pay the taxes when the tax bills become available. In the event the monies paid as aforesaid are insufficient to pay the amount of the Taxes then Lessee will on demand pay to Lessor the amount of such deficiency. In the event the monies paid as aforesaid are in excess of the amount of the taxes, then Lessor will immediately credit such excess to the next payment due from Lessee to Lessor hereunder or, if no further payments are due from Lessee to Lessor hereunder, shall immediately remit and pay to Lessee the amount of such excess.

5.   INSURANCE.  (A)  Lessee shall carry insurance during the entire term hereof insuring Lessee, and insuring, as additional named insureds, Lessor, its agents, partners and employees, as their interest may appear, with terms, coverages, and in companies reasonably satisfactory to Lessor, but initially Lessee shall maintain the following coverages in the following amounts:

	
  

	
(i)

	
Comprehensive public liability insurance, including the broad or extended liability endorsement, during the entire term hereof with terms and in companies reasonably satisfactory to Lessor to afford protection to the limits of not less than $2,000,000.00 for combined single limit personal injury and property damage liability per occurrence.

	
  

	
(ii)

	
Insurance against fire, sprinkler leakage, vandalism, and the extended coverage perils for the full insurable value of all buildings, additions, improvements and alterations to the Premises, and of all office furniture, trade fixtures, office equipment, merchandise and all other items of Lessee=s property on the premises and business interruption insurance.

	
  

	
(iii)

	
Worker's Compensation Insurance for all of Lessee=s employees.

 

	
  

	
(iv)

	
All insurance policies shall provide that they may not be terminated or modified in any way which would materially decrease the protection afforded Lessor under this Lease without thirty days= advance written notice to Lessor.  Lessee shall furnish to Lessor true and correct copies of all insurance policies required under this section, together with any amendments and endorsements to such policies, certificates of insurance, and such other evidence of coverage as Lessor may reasonably request, and evidence of payment of all premiums and other expenses owed in connection therewith.  Upon Lessee’s default in obtaining or maintaining or delivering the policy for any such insurance or Lessee=s failure to pay the charges therefore, Lessor may, at its option, on or after the tenth day after written notice thereof is given to Lessee, procure or pay the charges for any such policy or policies and the total cost and expense thereof shall be immediately paid by Lessee to Lessor as additional rent upon receipt of a bill therefore.

 

	
  

	
(v)

	
So long as this Lease remains in effect, the proceeds of any such insurance which are received by Lessee shall be used by Lessee to repair or replace the property so insured.

  

  

  

 

6.   HOLDING OVER.  Lessee will at the termination of this lease by lapse of time or otherwise yield up immediate possession to Lessor, and failing so to do, will pay as liquidated damages, for the whole time such possession is withheld, the sum equal to double the daily Base Rent amount then applicable per day; but the provisions of this clause shall not be held as a waiver by Lessor of any right of re-entry as hereinafter set forth; nor shall the receipt of said rent or any part thereof, or any other act in apparent affirmance of tenancy, operate as a waiver of the right to forfeit this lease and the term hereby granted for the period still unexpired, for a breach of any of the covenants herein.

7.   WATER, GAS AND ELECTRIC CHARGES.  Lessee will pay, in addition to the rent above specified, all water rents, gas and electric light and power bills taxed, levied or charged on the Premises, for and during the time for which this lease is granted, and in case said water rents and bills for gas, electric light and power shall not be paid when due, Lessor shall have the right, but not the obligation, to pay the same, which amounts so paid, together with any sums paid by Lessor to keep the Premises in a clean and healthy condition, as above specified, are declared to be so much additional rent and payable with the installment of rent next due thereafter.

8.   CONDITION AND UPKEEP OF PREMISES.  Lessee has examined and knows the condition of the Premises as of the date hereof and has received the same in good order and repair, and acknowledges that no representations as to the condition and repair thereof have been made by Lessor, or his agent, prior to or at the execution of this lease that are not herein expressed; Lessee will keep the Premises including all appurtenances, including the coolers and freezers in good repair, replacing all broken glass with glass of the same size and quality as that broken, and will replace all damaged electrical and/ or plumbing fixtures with others of equal quality, and will keep the Premises, including landscaping and adjoining alleys, in a clean and healthful condition according to the applicable municipal ordinances and the direction of the proper public officers during the term of this lease at Lessee's expense, and will without injury to the roof, remove all snow and ice from the same when necessary, and will remove the snow and ice from the sidewalk abutting the Premises; and upon the termination of this lease, in any way, will yield up the Premises to Lessor, in good condition and repair, loss by fire and ordinary wear excepted, and will deliver the keys therefor at the place of payment of said rent.  Should the coolers Adie@ through no neglect of Lessee (e.g. old age, etc.) Lessor shall replace them at their cost.

Lessor represents to Lessee that at the time this Lease commences that (a) the Premises are served by adequate heating, ventilation and air conditioning systems for corporate office space, and that such systems and the freezers and coolers are fully functional and in good working order and repair and (b) the roof above the Premises is free of leaks. Lessor shall be responsible for roof repairs.

9.   REPAIR.  Lessor shall not be obliged to incur any expense for repairing any improvements upon said demised premises or connected therewith, and the Lessee at his own expense will keep all improvements, including but not limited to, the  heating, ventilating and air conditioning systems and fixtures, in good repair (injury by fire, or other causes beyond Lessee's control excepted) as well as in a good tenantable  condition, and will comply with all local or general regulations, laws and ordinances applicable thereto, as well as lawful requirements of all competent authorities in that behalf. Lessee will, as far as possible, keep said improvements from deterioration due to ordinary wear and from falling temporarily out of repair. If Lessee does not make repairs as required, or maintain the Premises promptly and adequately, Lessor may but need not make such repairs or maintenance and pay the costs thereof, and such costs shall be so much additional rent immediately due from and payable by Lessee to Lessor.  Notwithstanding the foregoing, Lessor hereby agrees to be responsible for all repairs to the roof and structural elements of the property, and elevators, providing that the need for such repairs is not caused by the conduct or neglect of Lessee.

  

  

  

 

10.   LESSEE NOT TO MISUSE; SUBLET; ASSIGNMENT.  Lessee will not allow the Premises to be used for any purpose that will increase the rate of insurance thereon, nor for any purpose other than that hereinbefore specified, and will not load floors with machinery or goods beyond the floor load rating prescribed by applicable municipal ordinances, and will not allow the Premises to be occupied in whole, or in part, by any other person and will not sublet the same or any part thereof, nor assign this lease without in each case the written consent of the Lessor first had such consent not to be unreasonably withheld or delayed, and Lessee will not permit any transfer by operation of law of the interest in the Premises acquired through this lease. However, Lessor may assign or sublet the Premises to an affiliate or subsidiary of it.

11.   MECHANIC'S LIEN.  Lessee will not permit any mechanic's lien or liens to be placed upon the Premises or any building or improvement thereon during the term hereof, and in case of the filing of such lien Lessee will promptly pay same or arrange for a bond. If default in payment thereof or posting a bond shall continue for thirty (30) days after written notice thereof from Lessor to the Lessee, the Lessor shall have the right and privilege at Lessor's option of paying the same or any portion thereof without inquiry as to the validity thereof, and any amounts so paid, including expenses and interest, shall be so much additional indebtedness hereunder due from Lessee to Lessor and shall be repaid to Lessor immediately on rendition of bill therefor.

12.   EXTRA FIRE HAZARD.  There shall not be allowed, kept, or used on the Premises any inflammable or explosive liquids or materials save such as may be necessary for use in the business of the Lessee, and in such case, any such substances shall be delivered and stored in amount, and used, in accordance with the rules of the applicable Board of Underwriters and statutes and ordinances now, or hereafter in force.

13.   ACCESS TO PREMISES.  Lessee will allow Lessor free access to the Premises on reasonable prior written notice for the purpose if examining or exhibiting the same, or to make any needful repairs, or alterations thereof which Lessor may see fit to make and will allow to have placed upon the Premises at all times notice of "For Rent" during the last 6 months of the lease, and will not interfere with the same.  In exercising the foregoing rights Lessor shall not interfere with Lessee=s use and occupancy of the Premises.

14.   ABANDONMENT AND RELETTING.  If Lessee shall abandon or vacate the Premises or if Lessee's right to occupy the Premises be terminated by Lessor by reason of Lessee=s breach of any of the covenants herein, the same may be re-let by Lessor for such rent and upon such terms as Lessor may deem fit, subject to Illinois statute; and if a sufficient sum shall not thus be realized monthly, after paying the expenses of such re-letting and collecting to satisfy the rent hereby reserved, Lessee agrees to satisfy and pay all deficiency monthly during the remaining period of this lease.

15.   MUTUAL WAIVER OF SUBROGATION RIGHTS.  Whenever any loss, cost, damage or expense resulting from fire extended coverage or vandalism, is incurred by either of the parties to this Lease in connection with the Premises or the Building, and such party is then covered in whole or in part by insurance with respect to such loss, cost, damage, or expense, then the party so insured hereby releases the other party from any liability it may have on account of such loss, cost, damage or expense to the extent of any amount recovered by reason of such insurance and waives any right of subrogation, which might otherwise exist in or accrue to any person on account thereof, provided that such release of liability and waiver of the right of subrogation shall not be operative in any case where the effect thereof is to invalidate such insurance coverage.

 

  

  

  

 

16.   NOTICES.  All notices, demands and requests that may or are required to be given by either party to the other shall be in writing. All notices, demands and requests by the Lessor to the Lessee shall be sent by United States registered or certified mail, postage prepaid, addressed to the other party at the addresses first set forth at the beginning of this Lease, or at such other address as one party may from time to time designate in a written notice to the other party.  The notice shall be deemed given 5 business days after mailing.  Notices may also be served on either party by facsimile transmission, in which case it shall be effective as of the business day following the date of transmission; provided, upon request of the recipient, the senders shall furnish written evidence which reasonably confirms the date and time of transmission.  A copy of the notice shall be sent to Sam Klepfish at 3845 Beck Blvd., Suite 805, Naples, Florida 34114 and the facsimile transmission shall be sent to the facsimile number operative at such address.

17.   DEFAULT.  If any of the following events of default shall occur, to wit:

(a) Lessee defaults for more than ten (10) days after the due date therefore in the payment of rent (whether Base Rent or additional rent) or any other sum required to be paid hereunder, or any part thereof, or

(b) Lessee defaults in the prompt and full performance of any other (i.e., other than payment of rent or any other sum) covenant, agreement or condition of this Lease and such other default shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee (unless such other default involves a hazardous condition, in which event it shall be cured forthwith or unless such default is not capable of curing within thirty (30) days in which event such thirty (30) days shall be extended for so long as Lessee is diligently attempting to cure such default), or

(c) The leasehold interest of Lessee shall be levied upon under execution or be attached by process of law or if Lessee abandons the Premises and ceases to pay all rent hereunder, or

(d) Bankruptcy or insolvency of Lessee,

then in any such event, Lessor, besides other rights or remedies, it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises; such property may be removed and stored in any other place in the Building in which the Premises are situated, or in any other place for the account of and at the expense and at the risk of Lessee. Lessee hereby waives all claims for damages which may be caused by the reentry of Lessor and taking possession of the Premises or removing or storing the furniture and property as herein provided, and will save Lessor harmless from any loss, cost, or damages occasioned Lessor thereby provided that Lessee does not hereby waive any claims, arising from, caused by, or otherwise relating to Lessor=s negligence or willful misconduct and will have no obligation to indemnify Lessor with respect to any such claims, and no such re-entry shall be considered or construed to be a forcible entry. Should Lessor elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law; it may either terminate this Lease or it may from time to time, without terminating this Lease, re-let the Premises or any part thereof for such terms and conditions as Lessor in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises.

  

  

  

 

18.   LATE CHARGE.  Lessee shall pay, as a late charge in the event any installment of Base Rent or other payments due hereunder, is not paid within ten (10) days of the date when so due an amount equal to five percent of the amount due for each and every thirty day period that said amount remains unpaid.  Should Lessee make a partial payment of past due amounts, the amount of such partial payment shall be applied first to reduce all accrued and unpaid late charges, in inverse order of their maturity, and then to reduce all other past due amounts, in inverse order of their maturity.  Lessor shall be under no obligation to accept such partial payments.  The decision of Lessor to accept any such partial payments shall not be construed as a waiver of Lessor=s rights to enforce any and all remedies as provided for herein or hereinabove.

19.   RENT AFTER NOTICE OR SUIT.  It is further  agreed, by the parties hereto, that after the service of notice, or the commencement of a suit or after final Judgment for possession of the Premises, Lessor may receive and collect any rent due, and the payment of said rent shall not waive or affect said notice, said suit, or said judgment.

20.   PAYMENT OF COSTS.  In the event of litigation, the prevailing party shall pay and discharge all reasonable costs, attorney's fees and expenses that shall be made and incurred by the other in enforcing the covenants and agreements of this lease.

21.   RIGHTS CUMULATIVE.  The rights and remedies of Lessor under this lease are cumulative. The exercise or use of any one or more thereof shall not bar Lessor from exercise or use of any other right or remedy provided herein or otherwise provided by law, nor shall exercise nor use of any right or remedy by Lessor waive any other right or remedy.

22.   NO RENT DEDUCTION OR SET OFF.  Lessee's covenant to pay rent is and shall be independent of each and every other covenant of this lease. Lessee agrees that any claim by Lessee against Lessor shall not be deducted from rent nor set off against any claim for rent in any action.

23.   FIRE AND CASUALTY.  In case the Premises shall be rendered untenantable during the term of this lease by fire or other casualty, Lessor at his option may terminate the lease or repair the Premises within 120 days thereafter. If Lessor elects to repair, this lease shall remain in effect provided such repairs are completed within said time. If Lessor shall not have repaired the Premises within said time, then at the end of such time the term hereby created shall terminate. If this lease is terminated by reason of fire or casualty as herein specified, rent shall be apportioned and paid to the day of such fire or other casualty.  Rent shall be abated during the time the Premises are untenantable. Notwithstanding the foregoing, if any casualty to the Building and/or the Premises materially interferes with Lessee=s use and occupancy of the Premises, Lessee may terminate the Lease by giving Lessor thirty (30) days prior written notice of such termination.

24.   SUBORDINATION.  This lease is provided however that any such mortgage or trust deed entered into after the date hereof shall contain a standard nondisturbance agreement with Lessee subordinate to all mortgages and/or trust deeds which may now or hereafter affect the Premises.

25.   INDEMNITY FOR ACCIDENTS.  Lessee covenants and agrees that it will protect and save and keep the Lessor harmless and indemnified against and from any penalty or damages or charges imposed for any violation of any laws or ordinances, either occasioned by the neglect of Lessee or those holding the Premises under Lessee during the term hereof, and that Lessee will protect, indemnify and save and keep harmless the Lessor against and from any and all loss, cost, damage or expense, arising out of or from any accident or other occurrence on or about the Premises attributable to Lessee=s Lease and occupancy of the Premises causing injury to any person or property whomsoever or whatsoever and will protect indemnify and save and keep harmless the Lessor against and from any and all claims and against and from any and all loss, cost, damage or expense arising out of any failure of Lessee in any respect to comply with and perform all the requirements and provisions hereof.

  

  

  

 

(a) Notwithstanding any provision in this Lease to the contrary, Lessee will not be responsible for, and will have no obligation to indemnify, defend or hold Lessor harmless from and against any loss, damage, expense, claim or other liability that is covered by insurance. Tenant=s obligation under this Section 25 shall survive the expiration or earlier termination of this Lease for a period of six (6) months after such expiration or termination.

(b) Lessor agrees to and shall indemnify, defend and hold Lessee harmless from and against any and all losses, damages, expenses (including, without limitation, reasonable attorney fees) and other liabilities arising out of or caused by or otherwise relating to (i) Lessor=s negligence or willful misconduct, and/or (ii) Lessor=s breach of default under this Lease. Lessee will not be liable to Lessor for any damage by or from any act or negligence or willful misconduct by any owner or occupant of adjoining or contiguous property.

26.   NON-LIABILITY OF LESSOR.  Except as provided by Illinois statute, or otherwise in this Agreement, Lessor shall not be liable for any damage occasioned by failure to keep the Premises in repair, nor for any damage done or occasioned by or from plumbing, gas, water, sprinkler, steam or other pipes or sewerage or the bursting, leaking or running of any pipes, tank or plumbing fixtures, in, above, upon or about Premises or any building or improvement thereon nor for any damage occasioned by water, snow or ice being upon or coming through the roof, skylights, trap door or otherwise, nor for any damages arising from acts or neglect of any owners or occupants of adjacent or contiguous property.

27.   EMINENT DOMAIN.  If a substantial part of the Premises, shall be lawfully taken or condemned or conveyed in lieu thereof, or conveyed under threat of such taking or condemnation, for any public or quasi-public use or purpose, any such actions a ATaking@ the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. Lessee hereby assigns to Lessor, Lessee's interest, if any, in such award and specifically agrees that any such award shall be the entire property of Lessor in which Lessee shall not be entitled to share. Current rent shall be terminated as of the date of such termination. If any part of the Building or the Premises not constituting a substantial part of the Premises, shall be so Taken or condemned (or conveyed under threat of such Taking or condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such Taking or change of grade makes it necessary to substantially remodel or restore the Building, Lessor shall have the right to cancel this Lease upon not less than one hundred twenty (120) days notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Lessor to Lessee for the right of cancellation, and Lessee shall have no right to share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or Taking. Lessee shall have the right to separately pursue its own award in the event of such condemnation proceedings. If any such Taking or any portion of the Premises or Building materially interferes with Lessee=s use of the Premises, Lessee may terminate this Lease on ten (10) business days prior written notice to Lessor.

  

  

  

 

28.   ESTOPPEL CERTIFICATE.  Lessee shall at any time and from time to time upon ten (10) days prior written notice from Lessor execute, acknowledge and deliver to Lessor a statement in writing certifying to the extent true, that this Lease is unmodified and in full force and effect (or if modified, stating the nature of the modification and certifying to the extent true, that this Lease, as so modified, is in full force and effect) and the dates to which the rental and other charges are paid and acknowledging that there are not, to Lessee's knowledge, any uncured defaults on the part of Lessor hereunder or specifying such defaults, if any are claimed. It is expressly understood and agreed that any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the Premises. Lessee's failure to deliver such statement within such time shall be conclusive upon Lessee that this Lease is in full force and effect, without modification except as may be represented by Lessor, that there are no uncured defaults in Lessor's performance.

29.   BROKERS.  Lessee represents to Lessor that Lessee has not dealt with any real estate broker in connection with this Lease.

30.   PLURALS; SUCCESSORS.  The words Lessor and Lessee wherever herein occurring and used shall be construed to mean ALessors@ and ALessees@ in case more than one person constitutes either party to this lease; and ail the covenants and agreements contained shall be binding upon, and inure to, their respective successors, heirs, executors, administrators and assigns and may be exercised by his or their attorney or agent

31.   NO WAIVER BY LESSOR.  No payment by Lessee or receipt by Lessor of a lesser amount than any installment or payment of Base Rent or any other sums due under this lease shall be deemed a waiver by Lessor of any of its rights under this lease.  Lessor may accept any and all payments from Lessee without prejudice to Lessors right to recover the balance of all payments due, or to pursue any other remedies available to Lessor.

32.   SEVERABILITY.  Wherever possible each provision of this lease shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this lease 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 lease.

[Remainder of page intentionally left blank.  Signature page appears on next page.]

 

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this instrument as of the Date of Lease stated above.

 

	
LESSEE:

 

Artisan Specialty Foods, Inc.

 

By:____________________________________

(SEAL)

 

By:____________________________________

(SEAL)

	  	
LESSOR:

 

_______________________________________

(SEAL)

David Vohaska

 

 

_______________________________________

(SEAL)

Sherri Vohaska

 

  

  

  

 

ASSIGNMENT BY LESSOR

On this ____________________, 20___, for value received, Lessor hereby transfers, assigns and sets over to ________________________________________________ all right, title and interest in and to the above Lease and the rent thereby reserved, except rent due and payable prior to _________________, 20____.

________________________________________(SEAL)

________________________________________(SEAL)ex10-3.htm

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT executed on May 10, 2012 by and among ARTISAN SPECIALTY FOODS, INC., a corporation organized under the laws of the State of Delaware (“Employer” or the “Company”), and DAVID VOHASKA (“Employee”).

 

W I T N E S S E T H:

 

WHEREAS, concurrently herewith the Employer has acquired all of the issued and outstanding shares of Artisan Specialty Foods, Inc., a corporation formed under the laws of the State of Illinois (“Artisan”), from Employee pursuant to a Stock Purchase Agreement of even date herewith (the “Stock Purchase Agreement”) among Employer, Innovative Food Holdings, Inc., a Florida corporation (“IVFH”), and Employee in his capacity as the sole shareholder of Artisan; and

WHEREAS, the Company desires to employ Employee on the terms and subject to the conditions hereinafter set forth, and Employee desires so to be employed;

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the Company and Employee agree as follows:

1. Offices and Duties.  Commencing as of the date the Company consummates the acquisition of Artisan (the “Effective Date”), the Company agrees to employ Employee during the Term (as hereinafter defined) to manage the day-to-day activities of “artisan” and to perform such other duties and work with other employees of the Company and its Affiliates (as defined below, but essentially, IVFH and its subsidiaries, whether now in existence or later established) in connection therewith on behalf of the Company as the Board of Directors of the Company or the Company’s senior officers (e.g., the Chief Executive Officer or the President and Chief Information Officer) may from time to time reasonably direct. The Board of Directors of the Company may elect or designate Employee to serve in such corporate offices of the Company or an Affiliate as it may from time to time deem necessary, proper or advisable with the consent of Employee, which shall not be unreasonably withheld or delayed.  Employee hereby accepts such employment and agrees that throughout the Term he shall faithfully, diligently and to the best of his ability, in furtherance of the business of the Company and its Affiliates, perform the duties assigned to him pursuant to this Section.  Employee shall devote all of his business time and attention to the business and affairs of the Company.  The previous sentence notwithstanding, Employee may, during business hours, (i) attend to personal matters involving charitable activities and passive investments and (ii) devote less than 5% of his time to the business of W.A. Imports, Inc., a corporation formed under the laws of Illinois which is in the business of importing, distributing and/or manufacturing citrus products and condiments (“WAI”), which business activities shall be limited to preparing sales invoices and attending trade shows, provided that these matters do not interfere with the performance of his duties and responsibilities under this Agreement.  Employee shall at all times be subject to the direction and control of the Board of Directors of the Company and observe and comply with such rules, regulations, policies and practices as the Board of Directors of the Company may from time to time reasonably establish in the exercise of its good faith discretion.  The term “Affiliate” means, at any time during the Term, any company, corporation, partnership, association or entity of any type or nature that controls or is controlled by the Company, or is under common control with the Company.  By way of illustration, as of the Effective Date, Affiliates include IVFH and all of its subsidiaries.

 

  

  

  

2. Term.  The employment of Employee hereunder shall commence on the Effective Date and continue for a term ending at the close of business on the day preceding the second anniversary of the Effective Date, subject to earlier termination upon the terms and conditions provided elsewhere herein (the “Term”).  As used herein, “Termination Date” means the last day of the Term.

3. Compensation.

(a) As compensation for his services hereunder, the Company shall pay to Employee during the Term a base salary during the first year at the rate of $120,000.00 per annum and during the second year at the rate of $140,000 per annum (the “Base Salary”), such Base Salary to be paid in substantially equal installments no less often than semi-monthly in accordance with the Company’s normal payroll practices, subject to required tax withholding.

(b) The Employee may also receive such bonus during the Term as the Board of Directors of the Company may determine in its discretion.

(c) In addition to his Base Salary and the discretionary bonus provided for above, Employee shall be entitled to participate, to the extent he is eligible under the terms and conditions thereof, in any medical insurance or other employee benefit plan generally available to other employees of the Company and to receive any other benefits or perquisites generally available to employees of the Company pursuant to any employment policy or practice, which may be in effect from time to time during the Term.  The Company shall be under no obligation hereunder to institute or to continue any such employee benefit plan or employment policy or practice.

4. Expenses.  The Company shall pay directly, or advance funds to Employee or reimburse Employee for, all expenses reasonably incurred by him in connection with the performance of his duties hereunder and the business of the Company, upon the submission to the Company of itemized expense reports, receipts or vouchers in accordance with its then customary policies and practices.  In no event shall Employee incur any expense, or related series of expenses, in excess of $250 without the prior written approval of an executive officer.

 

  

  

  

5. Location.  Except for travel and temporary accommodation reasonably required to perform his services hereunder and travel as may reasonably be requested by the Company, Employee shall perform his services hereunder at Artisan’s offices located at 8121 Ogden Avenue, Lyons, IL 60534.  The Company may request Employee’s attendance at meetings at its main executive offices, currently located in Naples, Florida, or other offices maintained by the Company or its Affiliates, or to participate in other activities at other locations relating to the business of the Company and its Affiliates at reasonable times and frequencies.

6. Office.  The Company shall provide Employee with suitable office space, furnishings and equipment, secretarial and clerical services and such other facilities and office support as are reasonably necessary for the performance of his services hereunder.

7. Vacation.  Employee shall be entitled to two (2) weeks paid vacation during each year of his employment hereunder, such vacation to be taken at such time or times as shall be agreed upon by Employee and the Company. Vacation time shall not be cumulative from year to year. Company shall pay Employee for any accumulated but unused vacation days within two weeks following the termination.  Should Employee require time to attend tradeshows relating to WAI, such time shall be charged against the six (6) personal and/or sick days allowed Employees with pay.

8. Confidential Information.

(a) Employee shall hold in a fiduciary capacity for the benefit of the Company and its Affiliates all confidential or proprietary information relating to or concerned with the Company and its Affiliates or its and their products, prospective products, operations, business and affairs (“Confidential Information”) and he shall not, at any time hereafter, use or disclose any Confidential Information to any person other than to the Company or its designees or except as may otherwise be required in connection with the business and affairs of the Company and its Affiliates, and in furtherance of the foregoing Employee agrees that:

(i) Employee will receive, maintain and hold Confidential Information in strict confidence and will use a reasonable standard of care in safeguarding it, but no less than the same level of care in safeguarding it that he uses with his own confidential material of a similar nature;

(ii) Employee will take all such steps as may be reasonably necessary to prevent the disclosure of Confidential Information; and

(iii) Employee will not utilize Confidential Information without first having obtained the Company’s consent to such utilization, except as may otherwise be required in connection with the business and affairs of the Company and its Affiliates.

 

  

  

  

(b) The restrictions set forth in Section 8(a) shall not extend to any portion of Confidential Information:

(i) that is generally available to the public;

(ii) that was known to the Employee prior to disclosure (excluding, however, information that was known or disclosed to Employee in connection with his acting as an officer or principal of Artisan);

(iii) that was not acquired, directly or indirectly and/or in any manner, from Artisan, the Company or any of its Affiliates and which Employee lawfully had in his possession prior to the date of this Agreement;

(iv) that, hereafter, through no act or omission on the part of Employee, becomes information generally available to the public.

(c) At any time upon written request by the Company (i) the Confidential Information, including any copies, shall be returned to the Company, and (ii) all documents, drawings, specifications, computer software, and any other material whatsoever in the possession of Employee that relates to such Confidential Information, including all copies and/or any other form of reproduction and/or description thereof made by Employee shall, at the Company’s option, be returned to the Company or destroyed.

(d) In the event that Employee becomes legally compelled (by deposition, interrogatory, request of documents, subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information, Employee shall provide the Company with prompt prior written notice of such requirement so that it may seek a protective order or other appropriate remedy and/or waive compliance with the terms of this Agreement.  In the event that such protective order or other remedy is not obtained, or the Company waives compliance with the provisions hereof, Employee agrees to furnish only such portion of the Confidential Information that is legally required to be furnished.

9. Intellectual Property.

(a) Any patent, claim of copyright, trademark, trade name, brand name, service mark, logo, symbol, trade dress or design, or representation or expression of any thereof, or registration or application for registration thereof, or any other improvement, development or discovery, invention, trade secret, process, system, technical information, know-how, proprietary right or intellectual property developed, conceived of, invented or otherwise produced by Employee, alone or with others in connection with the design, manufacture and marketing of the products of the Company and its Affiliates, or conceived, developed, created or made by Employee, alone or with others, during the Term and applicable to the business of the Company or its Affiliates, whether or not patentable or registrable (collectively referred to as “Trade Rights”) shall become the sole and exclusive property of the Company.

 

  

  

  

(b) Employee shall disclose all Trade Rights promptly and completely to the Company and shall, during the Term or thereafter, (i) execute all documents requested by the Company for vesting in the Company the entire right, title and interest in and to the same, (ii) execute all documents requested by the Company for filing and procuring such applications for patents, trademarks, service marks or copyrights as the Company, in its sole discretion, may desire to prosecute, and (iii) give the Company all assistance it may reasonably require, including the giving of testimony in any Proceeding (as hereinafter defined), in other to obtain, maintain and protect the Company’s right therein and thereto; provided that the Company shall bear the entire cost and expense of such assistance, including without limitation paying the Employee reasonable compensation for any time or effort expended by him in connection with such assistance after the Termination Date.  In furtherance of the foregoing, Employee acknowledges and agrees that for all purposes of U.S. and foreign Copyright Laws, the Trade Rights and any inventions, discoveries, enhancements or improvements to any tangible or intangible property, resulting from the services performed by Employee for the Company or its Affiliates (for the purposes of this Section all of the foregoing is collectively referred to as the “Work”), and any and all elements thereof, shall be deemed to constitute “works for hire” belonging to the Company within the meaning of Title 17, United States Code, Section 101, and any comparable provisions of the law of any other jurisdiction, such that all right, title and interest therein, including, without limitation, copyrights and exclusive rights under copyright, vest in the Company.  Employee hereby transfers and conveys to the Company the exclusive, world-wide, royalty-free, paid-up right to exploit, use, develop, license, and sell products and services relating to or derived from the Work; and the exclusive right, title and interest in and to all inventions, improvements, patent applications and letters patent, “know-how”, and all intellectual property and other rights, tangible or intangible, which relate to or are based upon or derived from the Work; and to all information, documents, and specifications that relate to the Work.  If the Work or any of the elements thereof is deemed not to be “works for hire” within the meaning of Title 17, United States Code, Section 101, then Employee hereby assigns and transfers to the Company all right, title and interest in and to the Work, including rights throughout the world for good and valuable consideration, receipt of which Employee hereby acknowledges.  For the sole and exclusive purpose of perfecting and documenting such limited assignment and transfer, Employee hereby grants to the Company an irrevocable power of attorney.

10. Termination Upon Death or Disability.  Employee’s employment hereunder shall terminate immediately upon his death.  In the event that Employee is unable to perform his duties hereunder by reason of any disability or incapacity (due to any physical or mental injury, illness or defect) as determined by a physician reasonably acceptable to Employee (which acceptance shall not be unreasonably withheld or delayed) for 30 consecutive days or an aggregate of 45 days in any consecutive 12-month period, the Company shall have the right to terminate Employee’s employment hereunder within 10 days after the 30th or 45th day, as appropriate, of his disability or incapacity by giving Employee written notice to such effect at least 10 days prior to the date of termination set forth in such notice, and on such date such employment shall terminate.  The Company shall continue to pay Employee’s Base Salary and medical benefits until the Termination Date.

 

  

  

  

11. Termination by the Company for Cause.

(a) In addition to any other rights or remedies provided by law or in this Agreement, the Company may terminate Employee’s employment upon the occurrence of any one or more of the following events (any of which shall be deemed “cause” under this Agreement):

(i) Employee is convicted of, or enters a plea of guilty or nolo contendere (which plea is not withdrawn prior to its approval by the court) to a felony, and either Employee fails to perfect an appeal of such conviction prior to the expiration of the maximum period of time within which, under applicable law or rules of court, such appeal may be perfected or, if Employee does perfect such an appeal, his conviction of a felony is sustained on appeal; or

(ii) Employee has:

	
(1)  

	
committed fraud against, or embezzled or misappropriated funds or other assets of, the Company or any Affiliate;

	
(2)  

	
violated, or caused the Company or any Affiliate or any officer, employee or other agent thereof, or any other person or entity to violate, any law, regulation or ordinance, which violation has or would reasonably be expected to have a significant detrimental effect on the Company or any Affiliates, or any rule, regulation, policy or practice established by the Board of Directors of IVFH or the Company;

	
(3)  

	
acted in a manner, the cumulative effect of which was materially detrimental or adverse to the interests of the Company or any Affiliates;

	
(4)  

	
on a persistent or recurring basis failed to perform his duties hereunder; or

	
(5)  

	
violated, or failed to perform or satisfy any covenant, condition or obligation required to be performed or satisfied by Employee hereunder.

 

  

  

  

(b) The Company shall effect such termination for cause under paragraph (a) of this Section by giving Employee notice to such effect, setting forth in reasonable detail the factual basis for such termination and the date of termination.  If the event constituting cause is one described in sub-clauses (3), (4) or (5) of the foregoing sub-paragraph 11(a)(ii), such notice shall be given at least ten (10) days prior to the date of termination set forth therein and Employee may avoid such termination if Employee, prior to the date of termination set forth in such notice given with respect to an event constituting cause described in sub-clauses (3), (4) or (5) of the foregoing sub-paragraph 11(a)(ii), cures or explains to the reasonable satisfaction of the Company’s Board of Directors the reasons why the termination should not be effected.

12. Termination by Employee for Good Reason. In addition to any other rights or remedies provided by law or in this Agreement, Employee may terminate his employment hereunder if the Company violates any laws, or fails to perform or satisfy any material covenant, condition or obligation required to be performed or satisfied by it hereunder by giving the Company notice to such effect, setting forth in reasonable detail the factual basis for such termination, at least ten (10) days prior to the date of termination set forth therein; provided however that the Company may avoid such termination if it, prior to the date of termination sets forth in such notice, cures or explains to the reasonable satisfaction of Employee the factual basis for termination set forth therein.

13. Termination by the Company for No Reason.  In addition to any other termination rights provided in this Agreement, the Company may terminate Employee’s employment under this Agreement without cause and for no reason or any reason upon ten (10) days prior written notice given at any time after the first anniversary of the date of this Agreement, in which event the Employee shall be entitled to receive the amounts provided for under Sections 14(a) and 14(b) below.

14. Compensation upon Termination.

(a) Upon termination of Employee’s employment hereunder, he shall be entitled to receive, in any case, any compensation or other amount due to him pursuant to Section 3(a) and Section 7 (vacation) in respect of his employment prior to the Termination Date, and from and after the Termination Date, except as otherwise provided in Section 14(b) below, the Company shall have no further obligation to Employee hereunder.  Any amount payable to Employee pursuant to this Section 14(a) upon termination of his employment hereunder shall be paid promptly, and in any event within 10 days, after the Termination Date.

(b) If Employee’s employment is terminated by (i) Employee for “good reason” pursuant to Section 12, and, if prior to the time Employee gives the Company the notice of termination referred to therein, the Company has not given to Employee a notice of termination upon his disability pursuant to Section 10 or "for cause" pursuant to Section 11 hereof; or (ii) the Company under Section 13 for “no reason”, Employee shall be entitled to receive an amount equal to the total amount of his annual Base Salary bonus, or any other amount due him pursuant to Sections 3 AND 7, and medical benefits that would have been payable pursuant to Section 3 and 7 through the original Term of this Agreement.

 

  

  

  

(c) If Employee shall die prior to Employee’s receipt of all payments required under this Agreement, the Company shall pay Employee’s designated beneficiary or, if there is no designated beneficiary, his estate, all such amounts that would have otherwise been payable to Employee under this Agreement as of the date of his death.

15. Other Consequences of Termination.

(a) Upon the termination of Employee’s employment (for whatever reason and howsoever arising) the Employee shall, without waiving any rights he may have pursuant to the terms hereof or otherwise:

(i) at the request of the Board immediately resign without claim for compensation from any office held by him in the Company and any Affiliate (but without prejudice to any claim for damages for breach of this Agreement or for any compensation which otherwise may be payable pursuant to this Agreement or otherwise) and in the event of his failure to do so the Company and any such Affiliate is hereby irrevocably authorized to appoint some person in his name and on his behalf to sign and deliver such resignations to the Board; and

(ii) immediately repay all outstanding debts or loans due to the Company or any Affiliate, and the Company is hereby authorized to deduct from Base Salary payments due to Employee a sum in repayment of all or any part of any such debts or loans.

16. Non-Competition; Solicitation.

(a) Employee agrees that during his employment with the Company and for a period of two years after Employee leaves the Company’s employ for any reason (other than by termination by the Company without cause or by Employee for good reason), he shall not, without the written consent of the Company, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant, option holder, lender of money, guarantor or in any other capacity, participate in, engage in or have a financial interest or management position or other interest in any business, firm, corporation or other entity if it competes directly with any business operation conducted by the Company or its  affiliates or any successor or assign thereof at the time Employee’s employment with the Company is terminated.

 

  

  

  

(b) In addition to the limitations contained in (a) above, during such two year restricted period, Employee will not engage in any form of commercial enterprise with any of the Company’s suppliers that may or would have a negative effect on the Company’s business.

 

(c) Employee will not at any time during his employment with the Company and for a period of two years after Employee leaves the Company’s employ for any reason, solicit (or assist or encourage the solicitation of) any employee of the Company or any of its Affiliates to work for Employee or for any business, firm, corporation or other entity in which Employee, directly or indirectly, in any capacity described in Section 16(a) hereof, participates or engages (or expects to participate or engage) or has (or expects to have) a financial interest or management position.

 

(d) If any of the covenants contained in this Section 16 or any part thereof, is held by a court of competent jurisdiction to be unenforceable because of the duration of such provision, the activity limited by or the subject of such provision and/or the area covered thereby, then the court making such determination shall construe such restriction so as to thereafter be limited or reduced to be enforceable to the greatest extent permissible by applicable law.

 

(e) If Employee is terminated without cause or the Employee terminates for good reason, the provisions of this Section 16 shall be null and void.

 

(f) For purposes of this Section 16, (i) the term “Company” shall also mean IVFH and any of its subsidiaries, whether or not now existing; (ii) any act which Employee is prohibited from engaging in pursuant to this Section 16, he is also prohibited from soliciting, hiring, encouraging or retaining any other person to engage in any such activity; and (iii) participation by Employee in the operation of any business other than in connection with the operation of a business which is in direct competition with the Company or its subsidiaries or affiliates or any successor or assign thereof shall not be deemed to be a breach of this Section 16 and the foregoing provisions of this Section 16 shall not prohibit the ownership by Employee (as the result of open market purchase) of 1% or less of any class of capital stock of a corporation which is regularly traded on a national securities exchange, on the NASDAQ System or on an over-the-counter system.  The non-competition provisions of this Section 16 shall be inapplicable to WAI, provided WAI’s business activities and Employee’s involvement with WAI are limited as described in Section 1 of this Agreement.

17. Equitable Remedies.  Employee acknowledges that he has been employed for his unique talents and that his leaving the employ of the Company during the Term of this Agreement would seriously hamper the business of the Company and that the Company will suffer irreparable damage if any provision of Sections 8, 9 or 16 hereof are not performed strictly in accordance with their terms or are otherwise breached.  Employee hereby expressly agrees that the Company shall be entitled as a matter of right to injunctive or other equitable relief, in addition to all other remedies permitted by law, to prevent a breach or violation by Employee and to secure enforcement of the provisions of Sections 8, 9 or 16 hereof.  Resort to such equitable relief, however, shall not constitute a waiver of any other rights or remedies that the Company may have.

 

  

  

  

18. Limitation of Authority.  Except as expressly provided herein, no provision hereof shall be deemed to authorize or empower either party hereto to act on behalf of, obligate or bind the other party hereto.

19. Notices.  All notices which are required by or may be given pursuant to the terms of this Agreement must be in writing and must be delivered personally, sent by certified mail, return receipt requested, postage prepaid, facsimile (with written confirmation of transmission) provided, that, notice is also sent via first class, postage prepaid, mail, or sent for next-day delivery by a nationally recognized overnight delivery service as follows: :

to the Company:

3845 Beck Blvd, Suite 805

Naples, Florida 34114

Attn: CEO

 Fax:(239) 254-7900

with a copy to:                      Feder Kaszovitz LLP

845 Third Avenue

New York, New York 10022

Attn: Howard I. Rhine, Esq.

Fax: (212) 888-7776

to Employee:                         To Employee’s home address set forth on the records of the Company.

 

	
  

	
with a copy to:

	
Di Monte & Lizak, LLC

	
  

	
216 Higgins Road

	
  

	
Park Ridge, Illinois  60068

	
  

	
Attn:  Eugene A. Di Monte, Esq.

	
  

	
Fax:   (847) 698-9624

Any of the addresses set forth above may be changed from time to time by written notice from the party requesting the change.  Such notices and other communications will be treated for all purposes of this Agreement as being effective immediately if delivered personally or by facsimile (with written confirmation of transmission), or five days after mailing by certified mail, return receipt requested, first class postage prepaid, or one day after deposit for next business day delivery by a nationally recognized overnight delivery service.

 

  

  

  

20. Amendment.  Except as otherwise provided herein, no amendment of this Agreement shall be valid or effective, unless in writing and signed by or on behalf of the parties hereto.

21. Waiver.  No course of dealing or omission or delay on the part of either party hereto in asserting or exercising any right hereunder shall constitute or operate as a waiver of any such right.  No waiver of any provision hereof shall be effective, unless in writing and signed by or on behalf of the party to be charged therewith.  No waiver shall be deemed a continuing waiver or waiver in respect of any other or subsequent breach or default, unless expressly so stated in writing.

22. Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND INTERPRETED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CHOICE OF LAW OR CONFLICT OF LAWS.  EACH PARTY TO THIS AGREEMENT SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, LOCATED IN NEW YORK COUNTY, NEW YORK, UNITED STATES OF AMERICA, AND TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, NEW YORK, NEW YORK, UNITED STATES OF AMERICA WITH RESPECT TO ANY MATTER ARISING OUT OF THIS AGREEMENT, AND WAIVES ANY OBJECTION TO VENUE IN THE COUNTIES OF NEW YORK, STATE OF NEW YORK, OR SUCH DISTRICT.  SERVICE OF PROCESS IN ANY PROCEEDING MAY BE MADE IN THE SAME MANNER AS IS PROVIDED FOR THE DELIVERY OF NOTICES UNDER THIS AGREEMENT.

23. Severability.  The provisions hereof are severable and in the event that any provision of this Agreement shall be determined to be invalid or unenforceable in any respect by a court of competent jurisdiction, the remaining provisions hereof shall not be affected, but shall, subject to the discretion of such court, remain in full force and effect, and any invalid or unenforceable provision shall be deemed, without further action on the part of the parties hereto, amended and limited to the extent necessary to render the same valid and enforceable.

24. Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original and which together shall constitute one and the same agreement.

25. Further Assurances.  Each Party hereto shall promptly execute, deliver, file or record such agreements, instruments, certificates and other documents and perform such other and further acts as any other Party hereto may reasonably request or as may otherwise be reasonably necessary or proper, to carry out the provisions of this Agreement.

26. Binding Effect.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  This Agreement is not intended, and shall not be deemed, to create or confer any right or interest for the benefit of any person or entity not a party hereto.

 

  

  

  

27. Titles and Captions.  The titles and captions of the Articles and Sections of this Agreement are for convenience of reference only and do not in any way define or interpret the intent of the parties or modify or otherwise affect any of the provisions hereof.

28. Remedies.  In the event of any actual or prospective breach or default under this Agreement by either Party hereto, the other Party shall be entitled to equitable relief, including remedies in the nature of rescission, injunction and specific performance.  All remedies hereunder are cumulative and not exclusive, and nothing herein shall be deemed to prohibit or limit either party from pursuing any other remedy or relief available at law or in equity for such actual or prospective breach or default, including the recovery of damages.

29. Assignment.  This Agreement, and each right, interest and obligation hereunder, may not be assigned by either party hereto without the prior written consent of the other party hereto, and any purported assignment without such consent shall be void and without effect, except that this Agreement shall be assigned to, and assumed by, any person or entity with or into which IVFH or the Company merges or consolidates, or which acquires all or substantially all of its assets, or which otherwise succeeds to and continues IVFH or the Company’s business substantially as an entirety.  Except as otherwise expressly provided herein or required by law, Employee shall not have any power of anticipation, assignment or alienation of any payments required to be made to him hereunder, and no other person or entity may acquire any right or interest in any thereof by reason of any purported sale, assignment or other disposition thereof, whether voluntary or involuntary, any claim in a bankruptcy or other insolvency proceeding against Employee, or any other ruling, judgment, order, writ or decree.

30. Grammatical Conventions.  Whenever the context so requires, each pronoun or verb used herein shall be construed in the singular or the plural sense and each capitalized term defined herein and each pronoun used herein shall be construed in the masculine, feminine or neuter sense.

31. References.  The terms “herein,” “hereto,” “hereof,” “hereby,” and “hereunder,” and other terms of similar import, refer to this Agreement as a whole, and not to any Section or other part hereof.

32. No Presumptions.  Each Party hereto acknowledges that it has had an opportunity to consult with counsel and has participated in the preparation of this Agreement.  No Party hereto is entitled to any presumption with respect to the interpretation of any provision hereof or the resolution of any alleged ambiguity herein based on any claim that the other Party hereto drafted or controlled the drafting of this Agreement.

 

  

  

  

33. Entire Agreement.  This Agreement embodies the entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior or contemporaneous, written or oral, agreements, commitments or arrangements relating thereto.

[Remainder of page intentionally left blank.  Signature page appears on next page.]

 

 

 

 

 

 

 

 

 

  

  

  

 

IN WITNESS WHEREOF, the undersigned have duly executed this Agree­ment as of the day and year first above written.

EMPLOYER:

ARTISAN SPECIALTY FOODS, INC.

By: ________________________________

Name:  Sam Klepfish

Title: CEO

EMPLOYEE:

______________________________________

David Vohaska

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