Employment Agreement - Axxess Inc. and John Keating
[AXXESS LOGO APPEARS HERE]
EMPLOYMENT AGREEMENT
This agreement is entered into between Axxess, Inc., d.b.a. Axxess Media Group,
Inc., herein after known as "Axxess" and John Keating, herein after known as
"Mr. Keating".
Whereas, Axxess and Mr. Keating, as evidenced by the signed execution of this
Employment Agreement, agree to the following.
I. Mr. Keating will be employed by Axxess as of February 9, 1998 in the
position of "Vice President" at Axxess's place of business at 201 Park Place,
Suite 321, Altamonte Springs, Florida, 32701. Mr. Keating's responsibilities
will include management, sales, marketing and supervision of future personnel as
related to the development of the sales and marketing division of Axxess'
business activities.
II. Mr. Keating will be considered a full time, permanent employee for the
purposes of employee benefits as further described in the "Employee Manual".
III. Mr. Keating will receive a salary in the amount of $48,000.00 annually to
be paid on a semi-monthly basis.
IV. Mr. Keating will be entitled to receive a commission based on a percentage
of sales attributed to Mr. Keating's efforts equal to 20% of the gross amount of
the sale of advertising and advertising services as well as web site design,
site hosting services and other product or services revenues.
a) Advertising commissions will accrue monthly based on sales revenue
collected during a calendar month and be payable to Mr. Keating on the pay
date following the end of the calendar month.
b) Said commissions will be disbursed to Mr. Keating on the prescribed date
in an amount equal to the amount of the commissions accrued exceeding the
amount of salary paid to Mr. Keating for that period.
c) By example, if Mr. Keating's sales equal $30,000 for a calendar month,
then the gross commission calculated will be $6,000. If Mr. Keating's gross
salary for the same period is $4,000 then the amount of commission to be
paid to Mr. Keating for that period will be $6,000 (minus) $4,000 or
$2,000.
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[AXXESS LOGO APPEARS HERE]
V. Mr. Keating will be entitled to receive an additional bonus or a "manager's
override of 5% of sales per calendar quarter based on the gross sales achieved
by Mr. Keating and by persons under Mr. Keating's supervision. Bonus will be
paid in addition to Mr. Keating's salary providing that total sales for the
period in which a bonus is calculated exceed an amount equivalent to 2.5 times
Mr. Keating's base salary as described in Section III herein.
VI. As an additional recruitment incentive, Mr. Keating will receive
compensation in the amount of an option to purchase 10,000 shares of common
stock of Axxess, Inc., effective the date of the issuance of said options and
exercisable at a price to be determined as an amount equivalent to the closing
bid price of Axxess common shares on the date of issuance. It is understood that
shares of Axxess, Inc. issued to Mr. Keating under this agreement are not
registered and subject to restriction under SEC rule 144.
VII. Either Axxess or Mr. Keating may terminate this agreement with 30 days
prior written notice to the other party. This agreement may not be modified in
any way without the expressed written consent of both parties.
Acknowledged:
/s/ John Keating /s/ [Signature Appears Here] 2/5/98
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John Keating date Axxess, Inc. date