SEC Contract Filing

Filing Date: 2015-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>dsox_ex101.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
<TEXT>
<HTML>
<head><title>ex-10.1</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:'Times New Roman'; COLOR:#000000; FONT-SIZE:10pt"> <p style="MARGIN:0px; FONT-SIZE:11pt" align=center><b>TRITON EMISSION SOLUTIONS INC.</b></p> <p style="MARGIN:0px; FONT-SIZE:11pt" align=center><b>EMPLOYMENT AGREEMENT</b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify>This Employment Agreement (&#147;Agreement&#148;), is entered into as of March 6, 2015 by and between Triton Emission Solutions Inc., a Delaware corporation (the &#147;Company&#148;), and Anders Aasen (&#147;Executive&#148;).</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify>NOW, THEREFORE, in consideration of the premises and mutual covenants herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows.</p> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; FONT-SIZE:11pt">1.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify><u>Term</u>. &nbsp;Subject to the provisions of Section 7 of this Agreement, this Agreement shall be effective for a term commencing as of March &nbsp;23, 2015 (the &#147;Effective Date&#148;), and shall continue until Executive&#146;s employment is terminated by either party in accordance with the terms of Section 7 of this Agreement (the &#147;Employment Term&#148;).</p> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left; FONT-SIZE:11pt">2.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt"><u>Position</u>.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left; FONT-SIZE:11pt">2.1</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify><u>Job Title</u>. &nbsp;Executive shall serve as Chief Executive Officer of the Company. &nbsp;In such position, Executive shall have such duties and authority as are consistent therewith. &nbsp;Executive shall act at all times with consideration for the reasonable business needs of the Company and faithfully perform the duties assigned by the Company to the best of Executive&#146;s ability.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left; FONT-SIZE:11pt">2.2</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify><u>Full Time Services</u>. &nbsp;During the Employment Term, Executive will devote his full business time and best efforts to the performance of his duties hereunder and will not engage in any other business, profession, or occupation for compensation or otherwise that would conflict or interfere with the rendition of such services, either directly or indirectly, without the prior written consent of the Company; <u>provided</u> <u>that</u> Executive shall, subject to the prior approval of the Company, be permitted to accept appointment to or continue to serve on any board of directors or trustees of any business corporation or any charitable or not-for-profit organization; provided, in each case, and in the aggregate, that such activities do not conflict or interfere with the performance of Executive&#146;s duties hereunder in any material respect or conflict with Section 9 of this Agreement.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left; FONT-SIZE:11pt">2.3</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify><u>No Conflicts</u>. &nbsp;Executive represents and warrants to the Company that the entry by Executive into this Agreement, and the employment of Executive as an employee of the Company to provide the services set forth in Sections 2.1 and 2.2 of this Agreement, does not and will not result in the violation of the terms or provisions of any other agreement, indenture, instrument or other legal obligation by which Executive is bound, including, but not limited to, the terms of any other existing employment of Executive or engagement of Executive as a consultant.</p> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left; FONT-SIZE:11pt">3.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt"><u>Remuneration</u>.</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; MARGIN-BOTTOM:14px; CLEAR:left; FONT-SIZE:11pt" align=justify>3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Base Salary</u>. &nbsp;Commencing on the Effective Date, and continuing throughout the Employment Term, the Company shall pay Executive a base salary (the &#147;Base Salary&#148;) at the annual rate of US $270,000, payable in regular installments in accordance with the Company&#146;s usual payroll practices. &nbsp;During the Employment Term, the Company shall review the Base Salary annually and may increase the Base Salary, and upon any such increase, the term &#147;Base Salary&#148; shall thereafter refer to such increased amount.</p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:14px" align=justify><br><br></p> <p style="MARGIN:0px; FONT-SIZE:11pt" align=center>1</p> <p style="MARGIN:0px; FONT-SIZE:11pt">EMPLOYMENT AGREEMENT</p> <p style=MARGIN:0px><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN-TOP:0px; MARGIN-BOTTOM:14px" align=justify><br></p> <p style="MARGIN-TOP:0px; TEXT-INDENT:48px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left; FONT-SIZE:11pt">3.2</p> <p style="MARGIN-TOP:0px; TEXT-INDENT:-2px; MARGIN-BOTTOM:14px; FONT-SIZE:11pt" align=justify><u>Options</u>. As additional consideration, the Company shall grant to the Executive options to pu