Agreement (2009)Full Document 

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EMPLOYMENT AGREEMENT
 

 
THE AGREEMENT is made as of the 21st day of September, 2009 (the “Effective Date”) by and between Ecology Coatings, Inc., a Nevada corporation (the "Company"), and F. Thomas  Krotine (the "Executive").
 
WITNESSETH
 
WHEREAS, the Company is engaged in the business of the developing, producing and selling nanotechnology coatings;
 
WHEREAS, the Company desires to employ the Executive as its President and Chief Operations Officer;
 
WHEREAS, the parties desire to memorialize the employment of the Executive in the Agreement.
 
NOW THISEFORE, in consideration of the premises and the mutual covenants and agreements contained herein, the parties mutually covenant and agree as follows:
 
1. Employment.
 
The Company hereby agrees to employ the Executive as its Chief Operating Officer and the Executive hereby accepts such employment upon the terms and conditions set forth in the Agreement.

2. Duties.
 
2.1 During the term of the Agreement, the Executive shall diligently perform all services consistent with his position as may be assigned to his by or under the direction of the Board of Directors of the Company and such other members of senior management designated by the Board.  The Executive's duties shall include overall responsibility for the affairs of the Company, legal and SEC compliance and other requirements of a public company.  In the performance of his duties, the Executive shall report to the Board of Directors and the Chief Executive Officer.
 
2.2 (b)           The Executive shall devote his full working time and attention to the business and affairs of the Company, render such services in a competent and efficient manner, and use his reasonable and appropriate best efforts to faithfully promote the interests of the Company.
 

 
 

 

3. Term of Employment.
 
3.1 Term.  The term of employment shall begin upon execution of the Agreement and extend for a period of one (1) year (the "Initial Term").  It shall thereafter be automatically renewed for successive periods of one (1) year, each upon the terms and conditions set forth in the Agreement, unless, at least thirty (30) days prior to such renewal date, either party shall have delivered to the other party written notice of termination of the Agreement.
 
3.2 Termination Without Cause.  The Company shall have the right to terminate the Executive's employment under the Agreement by written notice to the Executive at any time; provided, however, that, upon such termination without Cause, as such term is defined below, the Company shall pay to Executive the full value of the remaining unpaid compensation owed to the Executive for the balance of the Initial Term, including medical and dental insurance coverage that the Company provides to its other executives.  If the Agreement is terminated without Cause by the Company during the final year of the Initial Term or during any subsequent one-year extension term, a full year's compensation, including medical and dental insurance coverage, shall be due and payable.  The Company shall have no further liability under the Agreement, other than for reimbursement for reasonable business expenses incurred prior to the date of termination.  The Company shall be deemed to have terminated the Executive's employment pursuant to this Section 3.2 if such employment is terminated:  (i) by the Company without Cause; or (ii) by the Executive voluntarily for "Good Reason."  For purposes of the Agreement, "Good
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