SEC Contract Filing

Filing Date: 2016-11-01

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>EXECUTIVE EMPLOYMENT AGREEMENT
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Exhibit 10.1</font></div>
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EXECUTIVE EMPLOYMENT AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
Executive Employment Agreement (this &#x201C;<font style="font-weight: bold">Agreement</font>&#x201D;) is entered into as of
October 31, 2016, by and between MEDITE Cancer Diagnostics, Inc.,
(the &#x201C;<font style="font-weight: bold">Company</font>&#x201D;),
and David Patterson (the &#x201C;<font style="font-weight: bold">Executive</font>&#x201D; as &#x201C;Chief
Executive Officer&#x201D;).</font></div>
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Statement of Purpose</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS
the Company desires to employ Executive, and Executive desires to
accept such employment, on the terms and conditions set forth in
this Agreement;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS
Executive acknowledges and agrees that through his association with
the Company as an employee, he will acquire a considerable amount
of knowledge and goodwill with respect to the business of the
Company, which knowledge and goodwill are highly valuable to the
Company and which would be detrimental to the Company if used by
Executive to compete with the Company; and</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS
the Company wishes to protect its investment in its business,
employees, customer relationships, and confidential information, by
requiring Executive to abide by certain restrictive covenants
regarding confidentiality and other matters, each of which is an
inducement to the Company to employ Executive;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, in consideration of the foregoing, the mutual agreements
contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows:</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Employment.</font> Subject to the terms and
conditions of this Agreement, the Company employs Executive, and
Executive accepts such employment, commencing on October 31, 2016
(the &#x201C;<font style="font-weight: bold">Commencement
Date</font>&#x201D;), and ending when terminated by either party. In
connection with Executive&#x2019;s employment hereunder,
Executive&#x2019;s prior consulting relationship with the Company,
and any consulting agreement evidencing such relationship, is
hereby terminated as of the Commencement Date. Executive&#x2019;s
employment with the Company is at-will, and either party can
terminate the employment relationship and/or this Agreement at any
time, for any or no cause or reason, and with or without prior
notice.</font></div>
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