SEC Contract Filing

Filing Date: 2020-01-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>apxr_ex103.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
<TEXT>
<html><head><title>apxr_ex103.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="TEXT-ALIGN: right; MARGIN: 0px"><b>EXHIBIT 10.3</b></p><p style="TEXT-ALIGN: center; MARGIN: 0px"><b>EMPLOYMENT AGREEMENT</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">THIS EMPLOYMENT AGREEMENT (this &#8220;<b><u>Agreement</u></b>&#8221;) is entered into as of April 1, 2019 (the &#8220;<b><u>Effective Date</u></b>&#8221;), by and between APEX RESOURCES, INC., a Nevada company (the &#8220;<b><u>Company</u></b>&#8221;), and Jeff Bodnar, an individual (the &#8220;<b><u>Executive</u></b>&#8221;). Except with respect to the direct employment of the Executive by the Company, the term &#8220;Company&#8221; as used herein with respect to all obligations of the Executive hereunder shall be deemed to include the Company and all of its subsidiaries and affiliated entities (collectively, the &#8220;<b><u>Group</u></b>&#8221;).</p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: center; MARGIN: 0px"><b>RECITALS</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">A. The Company desires to employ the Executive as its <b>President and Chief Executive Officer</b> and to assure itself of the services of the Executive during the term of Employment (as defined below).</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">B. The Executive desires to be employed by the Company as its <b>President and Chief Executive Officer</b> during the term of Employment and upon the terms and conditions of this Agreement.</p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: center; MARGIN: 0px"><b>AGREEMENT</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">The parties hereto agree as follows:</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><b>I. </b><b>POSITION</b></p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">The Executive hereby accepts a position of President and Chief Executive Officer (the &#8220;<b><u>Employment</u></b>&#8221;) of the Company.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px"><b>II. </b><b>TERM</b></p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be 24 months commencing on the Effective Date, unless terminated earlier pursuant to the terms of this Agreement. The Employment will be renewed automatically for additional one-year terms if neither the Company nor the Executive provides a notice of termination of the Employment to the other party or otherwise proposes to re-negotiate the terms of the Employment with the other party within three months prior to the expiration of the applicable term.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px"><b>III. </b><b>DUTIES AND RESPONSIBILITIES</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 90px">a. The Executive&#8217;s duties at the Company will include all jobs assigned by the Company&#8217;s Board of the Directors (the &#8220;<b><u>Board</u></b>&#8221;).</p><p style="MARGIN: 0px; TEXT-INDENT: 90px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 90px">b. The Executive shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully and diligently serve the Company in accordance with this Agreement, the Certificate of Incorporation and Bylaws of the Company, as amended and restated from time to time (the &#8220;<b><u>Charter Documents</u></b>&#8221;), and the guidelines, policies and procedures of the Company approved from time to time by the Board.</p><p style="MARGIN: 0px; TEXT-INDENT: 90px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 90px">c. The Executive shall use his best efforts to perform his duties hereunder. The Executive shall not, without the prior written consent of the Board, become an employee of any entity other than the Company and any subsidiary or affiliate of the Company, and shall not be concerned or interested in any business or entity that engages in the same business in which the Company engages (any such business or entity, a &#8220;<b><u>Competitor</u></b>&#8221;), provided that nothing in this clause shall preclude the Executive from holding any shares or other securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere if such shares or securities represent less than 5% of the competitors outstanding shares and securities. The Executive shall notify the Company in writing of his interest in such shares or securities in a timely manner and with such details and particulars as the Company may reasonably require.</p><p style="MARGIN: 0px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px"><b>IV. </b><b>NO BREACH OF CONTRACT</b></p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 45px">The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive&#8217;s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or othe