SEC Contract Filing

Filing Date: 2023-04-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>8
<FILENAME>couv_ex1010.htm
<DESCRIPTION>EX-10.10
<TEXT>
<html><head><title>couv_ex1010.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 10.10</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>EMPLOYMENT AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">THIS EMPLOYMENT AGREEMENT (the &#8220;<u id="del_u492d1168-bb46-472a-8484-5f8e1a2dc2e8">Agreement</u>&#8221;) is made and entered into as of this 14<sup style="vertical-align:super">th</sup> day of March 2023 (the &#8220;<u id="del_ucbfa96b8-6a6b-4ba7-82af-784a4e5dd057">Effective Date</u>&#8221;), by and between Carbon-Ion Energy, Inc., a Delaware corporation with offices at One World Trade Center, 85<sup style="vertical-align:super">th</sup> Floor, New York, NY 10007 (the &#8220;<u id="del_uf3ecb552-7c78-4bb1-8a23-9b6ccd4d0c65">Corporation</u>&#8221;), and &#8212;&#8212;--Adrian Jones, an individual residing at The Old Cottage, Winterbourne, Newbury, RG20 8BB, England (the &#8220;<u id="del_ub64dccf3-f097-4d11-aa7e-2947643d30df">Executive</u>&#8221;), under the following circumstances:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>RECITALS:</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">A. The Corporation desires to secure the services of the Executive upon the terms and conditions hereinafter set forth;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">B. The Executive desires to render services to the Corporation upon the terms and conditions hereinafter set forth; and</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">C. The Corporation and the Executive desire for this Agreement to constitute and embody their full and complete understanding and agreement with respect to the Executive&#8217;s employment by the Corporation.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">NOW, THEREFORE, the parties mutually agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">1. <u id="del_u3bb4c2ad-09e1-4fa3-9cd1-710727227f2e">Employment</u>. The Corporation hereby employs the Executive, and the Executive hereby accepts employment as an executive officer of the Corporation, subject to the terms and conditions set forth in this Agreement.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">2. <u id="del_u810e28a0-d680-4e28-8010-98f548b5d547">Duties</u>. The Executive shall serve as the Chief Finance Officer of the Corporation, with such duties, responsibilities, and authority as are commensurate and consistent with his position, and such other duties, responsibilities and authority as may be, from time to time, reasonably assigned to him by the Board of Directors (the &#8220;<u id="del_u30ad3ebd-6b59-499f-8d62-c4ee9e2ef6dd">Board</u>&#8221;) or Chairman of the Board of the Corporation. In this capacity the Executive shall be responsible to lead and manage all of the operations of the Corporation.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">During the Term (as defined herein), the Executive shall report directly to the Board of the Corporation. The Executive shall obey the lawful directions of the Board to whom the Executive reports and shall use his diligent efforts to promote the interests of the Corporation and to maintain and promote the reputation thereof.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">3. <u id="del_u715b4794-beaf-42d4-9462-adbf68a2520e">Term of Employment</u>. The term of this Agreement shall commence upon the Effective Date and shall continue for two (2) years (the &#8220;<u id="del_ue9556f1d-d5b4-4238-bb67-bdd4f6eb8436">Initial Term</u>&#8221;) from such date and shall automatically be extended for additional terms of one (1) year each (each a &#8220;<u id="del_u554abde1-4781-4ab2-bbac-ace636bfbea5">Renewal Term</u>&#8221;) unless either party gives prior written notice of non-renewal to the other party no later than six (6) months prior to the expiration of the Initial Term (&#8220;<u id="del_u5cc7b09e-9e8a-4475-8256-866c31b75190">Non-Renewal Notice</u>&#8221;), or the then curren