Document:

ex10-2.htm

Exhibit 10.2

 

SENIOR SECURED PROMISSORY NOTE

 

	
$250,000.00

	
Effective February 1, 2011 

	  	  

 

FOR VALUE RECEIVED, Medical Work, LLC, a Georgia limited liability company and Generation Zero Group, Inc., a Nevada Corporation (together, the “Company”), jointly and severally hereby promises to pay to the order of Geronimo Property Trust, a Nevada trust, and/or its successors or assigns (the “Holder”), at the address of Holder at Geronimo Property Trust, a Nevada trust, C/O ISSE Investments, LLC Attention: Mrs. Deborah Fialkow, 7041 Cypress Bridge Drive South, Ponte Vedra Beach, FL 32082 or such other place as may be designated by Holder to the Company in writing, the aggregate principal amount of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00), together with interest on the unpaid principal amount hereof, upon the terms and conditions hereinafter set forth.

	
1.

	
Loan Amount.  This Promissory Note (this “Note”, “Promissory Note” or “Agreement”) evidences the principal amount of $250,000.00 (hereinafter referred to as the “Loan” or the “Principal”).

	  	  	  
	
2.

	
Interest.  Interest on the outstanding portion of Principal of this Note shall accrue at a rate of twelve percent (12%) per annum.  Interest begins to accrue under this Note on the date hereof.  All past-due principal and interest (which failure to pay such amounts shall be defined herein as an "Event of Default") shall bear interest at the rate of eighteen percent (18%) per annum until paid in full.  All computations of interest shall be made on the basis of a 360-day year for actual days elapsed.  Such interest shall accrue and be paid as described in Section 3 of this Note. Any payment that is not timely received, shall incur a Late Payment Fee in the amount of TEN PERCENT (10%) of the amount then due.

	  	  	  
	
3.

	
Payment Terms.  Principal and interest are due as follows: interest only shall be paid monthly commencing on the first day of March, 2011 and continuing thereafter on the first of each month including February 1, 2012.  All accrued interest and principal shall be due and payable on or before Febraury 1, 2012 (“Original Maturity Date”).  The Maturity Date may be extended one time for up to twelve months, through Febraury 1, 2013 (the “Extended Maturity Date”) at the latest, upon advance written notice from Company to Holder of not less than thirty (30) days along with an accompanied payment of an extension fee of 2% of the outstanding Principal balance on the Original Maturity Date. This extension shall only be allowed as long as there are no events of Default at anytime during the Term that have not been cured within the applicable grace period. Additionally, if the Original Maturity Date is extended as provided herein, the Interest Rate shall be increased to eighteen percent (18%) per annum and the interest rate after an Event of Default shall be the lesser of (i) twenty four percent (24%) per annum or (ii) the “Maximum Rate” (as defined below).  If the Note is extended, no principal or interest payment shall be due on the Original Maturity Date, but instead interest only payments shall continue monthly up through and until the Extended Maturity Date, at which time all outstanding Principal and interest shall be immediately due and payable. For purposes of this Note, “Maturity Date” shall mean the Original Maturity Date up to and until the Company’s right to the Extended Maturity Date is applicable, in which event the “Maturity Date” hereunder shall thereafter man the Extended Maturity Date.  All payments hereunder shall be made in lawful money of the United States of America.  Payments shall be credited first to the outstanding fees, then to accrued interest then due and payable, and the remainder to Principal.

  

  

  

	  	
a.

	
Notwithstanding any provision in this Note, the total liability for payments of interest and payments in the nature of interest, including all charges, fees, exactions, or other sums which may at any time be deemed to be interest, shall not exceed the limit imposed by the usury laws of the State of Georgia or the applicable laws of the United States of America, whichever shall be higher, for loan transactions between two commercial, arms-length sophisticated parties (the “Maximum Rate”).

	  	
b.

	
In the event the total liability for payments of interest and payments in the nature of interest, including, without limitation, all charges, fees, exactions or other sums which may at any time be deemed to be interest, which for any month or other interest payment period exceeds the Maximum Rate, all sums in excess of those lawfully collectible as interest for the period in question (and without further agreement or notice by, among or to the Holder the undersigned) shall be applied to the reduction of the outstanding fees due, then to the reduction of principal balance, with the same force and effect as though the undersigned had specifically designated such excess sums to be so applied to the reduction of fees and the principal balance and the Holder had agreed to accept such sums as a premium-free prepayment of principal; provided, however, that the Holder may, at any time and from time to time, elect, by notice in writing to the undersigned, to waive, reduce or limit the collection of any sums in excess of those lawfully collectible as interest rather than accept such sums as a prepayment of the principal balance.  The undersigned does not intend or expect to pay nor does the Holder intend or expect to charge, accept or collect any interest under this Note greater than the Maximum Rate.

  

	  	
c.

	
If any payment of principal or interest on this Note shall become due on a Saturday, Sunday or any other day on which national banks are not open for business, such payment shall be made on the next succeeding Business Day. "Business Day" means a day other than (i) a Saturday, (ii) a Sunday or (iii) a day on which commercial banks in Atlanta, Georgia, are authorized or required to be closed for business.

 

	
4.

	
Prepayment.   

 

	  	
a.

	
This Note may be prepaid in whole or in part at any time without penalty.

	  	  	  
	  	
b.

	
Any partial prepayment shall be applied first to any outstanding fees, then to accrued interest and then to any principal Loan amount outstanding.

 

 

 

  

  

  

	
5.

	
Representations and Warranties of the Company. The Company represents and warrants to Holder as follows: 

 

	  	
a.

	
The execution and delivery by the Company of this Note (i) are within the Company’s corporate power and authority, and (ii) have been duly authorized by all necessary corporate action.  Further, the undersigned is a duly authorized representative of the Company and has been authorized by a resolution of the Board of Directors of the Company to exercise any and all documents necessary to effectuate the transaction contemplated hereby.

	  	
b.

	
This Note is a legally binding obligation of the Company, enforceable against the Company in accordance with the terms hereof, except to the extent that (i) such enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights, and (ii) the availability of the remedy of specific performance or in injunctive or other equitable relief is subject to the discretion of the court before which any proceeding therefore may be brought.

	  	  	  
	 	c.	

The proceeds of this Note are being used to acquire certain assets and therefore is a purchase money note as defined under the term of the Uniform Commercial Code.

	
6.

	
Events of Default.  The then-outstanding principal balance of this Note, together with any outstanding fees and interest accrued thereon shall become immediately due and payable upon any of the following events ("Events of Default"), and/or any other default or Events of Default defined elsewhere in this Note.    Events of Default include:

 

	 	a.	the Company shall fail to make a payment when due, whether it be any outstanding fees, the principal, or interest payable under this Note on the due date of such payment; or
	 	 	 
	  	
b.

	there is a default, by the Company or any other grantor, under any security agreement securing the payment of this Note or any subordination or intercreditor agreement relating to the Note;
	  	  	  
	 	c.	the Company shall: (i) become insolvent or take any action which constitutes its admission of inability to pay its debts as they mature; (ii) make an assignment for the benefit of creditors, file a petition in bankruptcy, petition or apply to any tribunal for the appointment of a custodian, receiver or a trustee for it or a substantial portion of its assets; (iii) commence any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation or statute of any jurisdiction, whether now or hereafter in effect; (iv) have filed against it any such petition or application in which an order for relief is entered or which remains undismissed for a period of thirty (30) days or more; (v) indicate its consent to, approval of or acquiescence in any such petition, application, proceeding or order for relief or the appointment of a custodian, receiver or trustee for it or a substantial portion of its assets; or (vi) suffer any such custodianship, receivership or trusteeship to continue undischarged for a period of ninety (90) days or more; or
	 	 	 
	 	d.	the Company shall take any action authorizing, or in furtherance of, any of the foregoing.

 

  

  

  

In case any one or more Events of Default shall occur and be continuing (and not fully cured within thirty (30) days of the occurrence except a payment default in which case the cure period shall be five (5)  days, Holder may exercise any and all rights it may have at law, in equity or pursuant to this Note, including proceeding to protect and enforce its rights by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or for an injunction against a violation of any of the terms hereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise.  In case of a default in the payment of any principal of or premium, if any, or any fees due, or interest on this Note, the Company will pay to Holder such further amount as shall be sufficient to cover the reasonable cost and expenses of collection, including, without limitation, reasonable attorneys’ fees, expenses and disbursements.  No course of dealing and no delay on the part of Holder in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice Holder’s rights, powers or remedies.  No right, power or remedy conferred by this Note upon Holder shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise.

 

	
7.

	
Security Agreement.  This Note is secured by purchase money first lien security interests in all assets attached hereto as Exhibit A.   The Company agrees and acknowledges that Holder shall file one or more UCC financing statements in jurisdictions deemed proper by Holder in order to preserve and document its security interest hereunder.

	
8.

	
Certain Waivers by the Company.  Company waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note, and assent to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release of collateral available to Holder, if any, and to the addition or release of any other party or person primarily or secondarily liable.

	
9.

	
Assignment by Holder.  If and whenever this Note shall be assigned and transferred, or negotiated, including transfers to substitute or successor trustees, the holder hereof shall be deemed the “Holder” for all purposes under this Note.  In no event may Company assign its rights or obligations under this Note.

	  	  
	
10.

	
Amendment.  This Note may not be changed orally, but only by an agreement in writing, signed by the party against whom enforcement of any waiver, change, modification or discharge is sought.

 

 

 

 

 

  

  

  

	
11.

	
Costs and Fees. Anything else in this Note to the contrary notwithstanding, Holder shall have the right to recover its reasonable attorneys’ fees and other costs in the event Holder is required to enforce its rights under this Note due to Company’s default hereunder.

	  	  
	
12.

	
Governing Law.  It is the intention of the parties hereto that the terms and provisions of this Note are to be construed in accordance with and governed by the laws of the State of Georgia, except as such laws may be preempted by any federal law controlling the rate of interest which may be charged on account of this Note.

  

	
13.

	
No Third Party Benefit.  The provisions and covenants set forth in this Agreement are made solely for the benefit of the parties to this Agreement and are not for the benefit of any other person, and no other person shall have any right to enforce these provisions and covenants against any party to this Agreement, except in accordance with Section 9 above and Section 15 below.

	  	  
	
14.

	
Jurisdiction and Venue.  The parties hereby consent and agree that, in any actions predicated upon this Note, venue is properly laid in the state of Georgia and that the jurisdiction and venue shall be in Fulton County, Georgia, and it shall have full subject matter and jurisdiction over the parties to determine all issues arising out of or in connection with the execution and enforcement of this Note.

	  	  
	
15.

	
Interpretation.  Captions and paragraph headings in this Note are for convenience only and shall not affect its interpretation.

	  	  
	
16.

	
Entire Agreement.  Except for the security agreement entered into concurrently herewith, this Agreement constitutes the sole and only agreement of the parties hereto and supersedes any prior understanding or written or oral agreements between the parties respecting the subject matter hereof. 

	  	  

THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK

SIGNATURES ARE ON FOLLOWING PAGE

  

  

  

IN WITNESS WHEREOF, the undersigned has caused this Promissory Note to be executed and delivered by a duly authorized officer as of the date first above written, to be effective as of the effective date set forth above.

 

	  	
Generation Zero Group,  INC.

a Nevada Corporation

	  	  
	  	  
	  	
By: /s/ Matthew D. Krieg

	  	
Matthew D. Krieg, CEO

Medical Work, LLC

By: Generation Zero Group, Inc.,

Its sole member

By: /s/ Matthew D. Krieg

Matthew D. Krieg, CEOex10-3.htm

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT is made as of February 1, 2011 (“Effective Date”), by and between MEDICALWORK, LLC, a Georgia limited liability company (“Employer”), and JEFFREY E. SISK (“Executive”).

WHEREAS, Executive and Employer are parties to that certain Promissory Note of even date herewith in the principal amount of $3,950,000 (the “Note”), which Employer and Generation Zero Group, Inc., a Nevada corporation and parent company of Employer (“GNZR”) have given to Executive in connection with the merger of StaffMD, Inc., a Georgia corporation wholly owned by Executive (“StaffMD”) with and into Employer (the “Merger”) pursuant to that certain Agreement and Plan of Merger of even date herewith by and among the Employer, GNZR MedicalWork, StaffMD and Executive (the “Merger Agreement”); and

WHEREAS, Employer, through its Board of Managers, considers the maintenance of a competent and experienced executive management team to be essential to the long-term success of Employer following the Merger; and

WHEREAS, in this regard, Employer has determined that it is in Employer’s best interest that Executive serve as Manager and as President & Chief Executive Officer of Employer, pursuant to a written employment agreement; and

WHEREAS, Employer has agreed with Executive that this Agreement shall set forth the terms and conditions of Executive’s employment by Employer;

NOW, THEREFORE, in furtherance of the interests described above and in consideration of the respective covenants and agreements herein contained, the parties hereto agree as follows:

1.           Term of Employment

Employment of Executive pursuant to this Agreement shall be for a period commencing on the Effective Date hereof and ending on the date of the satisfaction in full of the Note (the “Term”), unless such employment is earlier terminated as provided in Section 5 of this Agreement.  Thereafter, the Term shall be continued on at at-will basis unless either party shall give written notice to the other party of its election not to extend the Term at least thirty (30) days prior to the date on which such extension would otherwise become effective.

2.           Position and Duties

Executive shall serve as sole Manager of the Employer’s Board of Managers (the “Board”), and as President & Chief Executive Officer of Employer, during the Term.  Executive shall have duties, responsibilities and authority as normally attend such positions, and as described in the Operating Agreement of the Employer then in effect.  Executive shall devote the necessary business time and attention (the parties hereto acknowledging that the position shall not require a full time commitment), and Executive’s best efforts, abilities, experience, and talent to the performance of such duties and responsibilities for the business of the Employer and its affiliates.

  

  

  

	
  

	
3.

	
Place of Performance

Executive shall be based at a location reasonably acceptable to Executive and Employer, except for occasionally required travel.  Employer shall furnish Executive with such facilities and services as shall be suitable to Executive’s position and adequate for the performance of his duties hereunder.

4.            Compensation

(a)           Salary.  Employer shall pay Executive an Annual Base Salary of $120,000.00, payable twice per month or such other interval as reasonably determined by Employer in accordance with Employer’s applicable payroll policies, as may be modified from time to time.

(b)           Bonus.  Executive will be eligible to receive a discretionary bonus by meeting performance targets as may be established in good faith by GNZR and the Executive from time to time.  The amount of such bonus, if any, shall be negotiated in good faith between GNZR and the Executive.

(c)           Other Benefits.  In addition to the compensation provided for in subparagraphs (a) and (b) above, during the Term of his employment under this Agreement, Executive shall be eligible:

 (1)           to participate in any and all employee benefit programs or stock programs of Employer or its parent company GNZR, now or hereafter in effect and open to participation by qualifying employees of Employer generally, including but not limited to participation in any qualified pension, profit sharing or stock option plans;

(2)            to participate in any comprehensive group medical plan and/or other group plans provided by Employer, to the extent allowed by the terms of such plans, with the cost of such coverage for Executive and Executive’s family to be paid by Employer on the same basis as for other senior executives of Employer; and

(3)            for reimbursement of all reasonable and necessary business expenses incurred by Executive in performing his duties hereunder, subject to Executive submitting appropriate vouchers in accordance with Employer’s policy.

	 	
5.

	
Termination of Employment

(a)           Termination by Employer.  Notwithstanding any provision contained in this Agreement to the contrary, Employer shall be entitled to terminate this Agreement upon the occurrence of the following:

(1)           The death of Executive;

(2)           Executive: (A) habitually neglects or engages in misconduct in connection with his duties and responsibilities hereunder, (B) willfully and materially breaches his duties or obligations under this Agreement, including but not limited to his obligations in Sections 7-10 of this Agreement, or (C) is indicted or convicted of a felony (collectively, termination for any reason set forth in this subparagraph (a)(3) shall be “For Cause”);

  

  

  

(3)           Executive gives notice to Employer, pursuant to Section 5(b) or otherwise, that Executive intends to terminate his employment under this Agreement; or

(4)           Without cause upon thirty (30) days advance written notice to the Executive.

Any termination pursuant to Section 5(a) shall require as a condition precedent that the Note be paid in full upon the effective date of the termination.

(b)           Termination by Executive.  Notwithstanding any provision contained in this Agreement to the contrary, Executive shall be entitled to terminate this Agreement upon thirty (30) days advance written notice to the Employer.

6.            Compensation After Termination

(a)           Termination without Severance Pay.  In the event of a termination pursuant to Sections 5(a)(1)—(3) or 5(b), Employer shall have no further obligation to Executive after the Termination Date, except for salary accrued through the date of such termination (or as otherwise provided by law, if greater) or by any separate agreements including without limitation the obligations of Employer and GNZR under the Note.  Employer shall continue to have all other rights available hereunder (including, without limitation, all rights under Sections 7-11) at law or in equity.

 

 

(b)           Termination with Severance Pay.  If this Agreement is terminated pursuant to Section 5(a)(4), then in addition to payment in full of the Note, Employer shall pay Executive severance pay in the amount of the lesser of: (i) the salary due for the remainder of the Term or (ii) twelve (12) months of his Annual Base Salary, less applicable tax withholding, to be distributed through salary continuation, at Employer’s option.  The receipt of such severance pay shall be contingent upon Executive’s execution of a general release of all claims against Employer and its affiliates, of a form and substance acceptable to Employer.  Employer shall have no further obligation to Executive, except as otherwise provided by law or by the Seller Note.  Employer shall continue to have all other rights available hereunder (including, without limitation, all rights under Sections 7-11) at law or in equity.

7.            Covenant Not To Compete

(a)           Executive’s Acknowledgments.  Executive acknowledges that: (i) during the Term and thereafter, Employer is and will be engaged in the development and operation of internet websites and businesses in the staffing industry (the “Business”); (ii) Executive is one of a limited number of persons who will be developing the Business of Employer; (iii) Executive has and will continue to occupy a position of trust and confidence with Employer during the Term, and has and will continue to be familiar with Employer’s trade secrets and with other proprietary and confidential information; (iv) the agreements and covenants contained in this Section are essential to protect Employer and its goodwill and are a condition precedent to Employer entering into this Agreement; (v) Executive’s employment with Employer has special, unique and extraordinary value to Employer and Employer would be irreparably damaged if Executive were to provide services to any person or entity in violation of the provisions of this Agreement; and (vi) the provisions of this Section will not impair Executive’s ability to support himself.

  

  

  

(b)           Covenant Not to Compete.  Executive hereby agrees that for a period commencing on the Effective Date and ending twelve (12) months after the termination of Executive’s employment (the “Restrictive Period”), Executive shall not, within the Territory (as defined below) directly or indirectly, as employee, agent, consultant, stockholder, director, co-partner or in any other individual or representative capacity, own, operate, manage, control, engage in, invest in or participate in any manner in, act as a consultant or advisor to, render services for (alone or in association with any person, firm, corporation or entity), or otherwise assist any person or entity (other than Employer or an affiliate of Employer) that engages in or proposes to engage in the Business.  For purposes of this Agreement, “Territory” means worldwide.  Executive acknowledges that Employer is engaged in the Business worldwide; that Employer competes on a worldwide basis; and that this restrictive covenant is reasonable and necessary on a worldwide basis.  Notwithstanding the foregoing, the covenant not to compete provisions of this Section 7 shall be null and void immediately and of no force and effect if (i) for any reason the Note is not paid in full on or before the effective date of the termination of Executive’s employment, or (ii) if this Agreement is terminated pursuant to Section 5(a)(4).

8.            Non-Solicitation of Employees

Other than in the performance of his duties hereunder, during the Restrictive Period, Executive shall not, directly or indirectly, as employee, agent, consultant, stockholder, director, co-partner or in any other individual or representative capacity, employ or engage, recruit or solicit for employment or engagement, any person who was, is or becomes employed or engaged by Employer during the Restrictive Period, or otherwise seek to influence or alter any such person’s relationship with Employer. Notwithstanding the foregoing, the covenant not to solicit provisions of this Section 8 shall be null and void immediately and of no force and effect if for any reason the Note is not paid in full on or before the effective date of the termination of Executive’s employment.

9.            Confidential Information

Executive recognizes and acknowledges that Employer has developed and will develop, and may disclose to Executive, certain proprietary information relating to the Business and software to be used in connection therewith, which information gives Employer a competitive advantage over those in its field who do not have such information and for which it has taken reasonable efforts to maintain the secrecy thereof (“Confidential Information”).  Executive will not, during or after the Term, disclose such Confidential Information to any person, firm, corporation, association or other entity for any reason or purpose whatsoever other than on behalf of Employer in the ordinary course of its business, nor shall Executive make use of any such Confidential Information for his own purposes or for the benefit of any person, firm, corporation or other entity (except Employer) under any circumstances during or after the term of his employment.  As used herein, Confidential Information does not include any information that (a) was previously known to Executive free of any obligation of confidentiality (including, but not limited to, any Confidential Information of StaffMD obtained as a result of the Merger); (b) is in the public domain or generally known at the time of disclosure or thereafter becomes part of the public domain or generally known through no fault of Executive; or (c) is required to be disclosed by law or regulation or judicial decree, provided, however, that Executive shall, to the extent practicable, give Employer prior written notice of any such disclosure and shall cooperate with Employer in obtaining a protective order or such similar protection as Employer may deem appropriate.  Executive acknowledges and agrees that all memoranda, books, papers, letters, formulae, software and other data, and all copies thereof in whatever form, that embody or contain Confidential Information, whether made by him or otherwise coming into his possession, are owned exclusively by Employer and on termination of his employment, or on demand of Employer, at any time, to deliver the same to Employer. Notwithstanding the foregoing, the covenants regarding Confidential Information in this Section 9 shall be null and void immediately and of no force and effect if for any reason the Note is not paid in full on or before the effective date of the termination of Executive’s employment.

  

  

  

10.          Assignment of Inventions

If Executive individually or jointly made or conceived of any invention, technique, process, or other know-how, whether patentable or not, in the course of performing services for Employer (collectively “Inventions”), Executive agrees to assign to Employer Executive’s entire right, title and interest in any such Inventions.  Executive further agrees to promptly disclose any such Inventions to Employer and will, upon request, promptly sign a specific assignment of title to Employer and assist in any way reasonably necessary to enable Employer to secure patent, trade secret or any other proprietary rights in the United States or foreign countries.  This Section does not apply to any Invention for which no equipment, supplies, facility or trade secret information of Employer was used and which was developed entirely on Executive’s own time, unless: (1) the invention relates (a) to the business of Employer or (b) to Employer’s actual demonstratively anticipated research or development; or (2) the invention results from any work performed by Executive for Employer.

11.          Remedies for Enforcement of Restrictive Covenants

(a)           Blue-Pencil. If any court of competent jurisdiction shall deem any provision in Sections 7-10 (collectively, “Restrictive Covenants”) too restrictive, the other provisions of the Restrictive Covenants shall stand, and the court shall modify the Restrictive Covenants to the point of greatest restriction permissible by law.

(b)           Remedies. Executive acknowledges and agrees that the Restrictive Covenants are reasonable and necessary for the protection of Employer’s business interests, that irreparable injury will result to Employer if Executive breaches any of the terms of said Restrictive Covenants, and that in the event of Executive’s actual or threatened breach of any such Restrictive Covenants, Employer will have no adequate remedy at law.  Executive accordingly agrees that in the event of any actual or threatened breach by him of any of the Restrictive Covenants, Employer shall be entitled to immediate temporary injunctive and other equitable relief, without bond and without the necessity of showing actual monetary damages, subject to hearing as soon thereafter as possible.  Nothing contained herein shall be construed as prohibiting Employer from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of any damages which it is able to prove.

 

 

 

 

 

  

  

  

(c)            Attorneys’ Fees. If Employer commences litigation to enforce or protect its rights as set forth in Sections 7-10, above, and prevails, Employer shall be entitled to recover reasonable attorneys’ fees, reasonable litigation expenses and court costs relating to such litigation, in addition to all other entitled relief, including but not limited to damages and injunctive relief.  If Employer or GNZR commences litigation to enforce or protect Employer’s rights as set forth in Sections 7-10, above, and does not prevail, Executive shall be entitled to recover from GNZR and Employer, jointly and severally, reasonable attorneys’ fees, reasonable litigation expenses and court costs relating to such litigation, in addition to all other entitled relief, including but not limited to damages and injunctive relief.

12.           Executive Assistance

Both during and after Executive’s employment with Employer, Executive shall, upon reasonable notice, furnish Employer with such information as may be in Executive’s possession or control, and cooperate with Employer, as Employer may reasonably request (with due consideration to Executive’s business activities and obligations after the Term), in connection with any litigation, claim, or other dispute with any third party (excluding Executive) in which Employer or any of its affiliates is or may become a party.  Employer shall reimburse Executive for all reasonable out-of-pocket expenses incurred by Executive in fulfilling Executive’s obligations under this Section.

13.           Arbitration

Except for disputes arising out of an alleged violation of the Restrictive Covenants set forth in Sections 7-11, any controversy or claim arising out of or relating to any provision of this Agreement or any other document or agreement referred to herein (including, but not limited to any stock option plan) shall be resolved by arbitration.  The arbitration process shall be instigated by either party giving written notice to the other of the desire for arbitration and the factual allegations underlying the basis for the dispute.  The arbitration shall be conducted by such alternative dispute resolution service as is agreed to by the parties, or, failing such agreement within thirty (30) days after such dispute arises, by arbitrators selected as described below in accordance with the rules and procedures established by the American Arbitration Association.  Only a person who is a practicing lawyer admitted to a state bar may serve as an arbitrator.  Each party shall select one arbitrator, and those arbitrators shall choose a third arbitrator; these arbitrators shall constitute the panel.  The American Arbitration Association rules for employment arbitration shall control any discovery conducted in connection with the arbitration.  The expenses of arbitration (other than attorneys’ fees) shall be shared as determined by arbitration.  Each side to the claim or controversy shall pay their own attorneys’ fees.  Any result reached by the panel shall be binding on all parties to the arbitration, and no appeal may be taken.  It is agreed that any party to any award rendered in such arbitration proceeding may seek a judgment upon the award and that judgment may be entered thereon by any court having jurisdiction.  The arbitration shall be conducted in Fulton County, Georgia.

14.           Successors and Assigns; Assumption by Successors

This Agreement may not be assigned by any party hereto; provided that Employer may assign this Agreement:  (a) to an affiliate so long as such affiliate assumes Employer’s obligations hereunder and no such assignment shall discharge Employer of its obligations herein, or (b) in connection with a corporate transaction, to the surviving corporation or purchaser as the case may be, so long as such entity assumes Employer’s obligations hereunder.

  

  

  

15.           Notices

All notices, consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly given when (a) delivered by hand (with written confirmation of receipt), (b) sent by facsimile (with written confirmation of receipt), provided that a copy is mailed by registered mail, return receipt requested, or (c) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested) to the appropriate addresses and facsimile numbers set forth below:

	 	
If to Executive:

	
Jeffrey E. Sisk

199 Daisy Street

	 	
  

	
Homosassa, FL 34446

	 	
  

	
Phone: (352) 212-0403

	 	
 

 

 

If to Employer

	
Fax: (352) 382-1748

 

 

MedicalWork, LLC

c/o Generation Zero Group, Inc.

180 Allen Road, Suite 105N

Atlanta, GA  30328

Phone: (770) 450-0007

Fax: (713) 524-4122

Attention: M. Krieg

 

Either party may, by providing notice in the manner described above, waive all or any part of any advance notice requirement that it may be entitled to hereunder.

16.           Invalidity/Waiver of Breach

The invalidity or unenforceability of any provision or application of this Agreement shall not affect the validity or enforceability of any other provisions or applications, which shall remain in full force and effect.  Waiver by any party of a breach of any provision or application of this Agreement shall not operate as or be construed as a waiver by such party of any subsequent breach hereof.

17.           Entire Agreement; Written Modification

This Agreement contains the entire agreement between the parties concerning the employment of Executive by Employer.  No modification, amendment or waiver of any provision hereof shall be effective unless in writing specifically referring hereto and signed by the party against whom such provision as modified or amended or such waiver is sought to be enforced.

  

  

  

18.           Governing Law

This Agreement is governed by and is to be construed and enforced in accordance with the laws of the State of Georgia, without regard to its conflict of law provisions.

19.           Counterparts; Effect of Facsimile and Photocopied Signatures.

This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.  A copy of this Agreement signed by one Party and faxed or scanned and emailed to another Party (as a PDF or similar image file) shall be deemed to have been executed and delivered by the signing Party as though an original.  A photocopy or PDF of this Agreement shall be effective as an original for all purposes.

 

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IN WITNESS WHEREOF, the parties have executed or caused to be executed this Employment Agreement as of the day and year first above written.

	  	
MedicalWork, LLC

	  	
By:                                                

	 	

Name:  Matthew D. Krieg

	  	
Title:  Manager

	  	  
	  	  
	 	

EXECUTIVE

	  	  
	  	/s/ Jeffrey E. Sisk
	  	
Jeffrey E. Sisk

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