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03/07/1986 AgreementEMPLOYMENT AGREEMENT THIS AGREEMENT entered into this date by and between MONROE COUNTY FINE ARTS COUNCIL, with principal offices in Key West, Florida, ("MCFAC"), and BAKARDJIEV AND ASSOCIATES, INC., a Texas corporation with principal offices in Houston, Texas ("Associates"); W I T N E S S E T H: WHEREAS, MCFAC is contemplating providing Monroe County, Florida and surrounding areas with cultural events, including but not limited to, opera and ballet, with the purpose of contributing to the cultural life of these communities, and Associates has a broad background in the field of music, opera, art administration, business management and public relations; and WHEREAS, MCFAC is desirous of retaining Associates to provide a General Director of MCFAC; and WHEREAS, Associates is desirout of entering into an agreement whereby they will provide a General Director that will serve in accordance with the objectives of MCFAC; NOW, THEREFORE, in consideration of the mutual covenants herein, both MCFAC and Associates agree as follows: 1. The initial term of this Contract shall be for a period of two (2) years beginning January 8, 1986, during which period MCFAC agrees to employ Associates to provide the services of General Director of MCFAC with primary duties to supervise and,direct the following aspects of MCFAC: SOLE/PRIMARY RESPONSIBILITIES a) Administration, including hiring and firing staff 1 and other necessary consultants. b) Artistic development and contracting. c) Program development. d) Planning and Production of events. e) Publicity, development and control. f) Providing as well as producing a festival for the county and state of international stature and to produce a higher quality of performance in the art forms of opera, ballet, theater, poetry, dance, symphony, choral, chamber music, recitals, jazz, contemporary, etc. In connection with the production the artists and performers will be drawn from city, state, national and international organizations. Local Arts organizations will be become the backbone in artists in residence. The festival will also serve as a catalyst for introducing local artists with exceptional talents by way of providing an opportunity to work with renown artists. The festival will directly stimulate the local economy by increasing the number of visitors, especially the affluent visitor, who looks for a vacation spot that provides an array of cultural events. 2. During the period of this Agreement, MCFAC agrees to pay Associates as compensation for furnishing the services of General Director as follows: a) During the period from January 8, 1986, until January 7, 1987, MCFAC shall pay to Associates an amount equal to $30,000.00 payable $2,500.00 per month, beginning January 8, 1986. b) During each successive year of the initial term of this agreement, and all renewal terms of this agreement MCFAC shall pay to Associates an amount equal to 37 1/2% of MCFAC annual core operating budget, payable in twelve equal monthly installments. The twelve monthly installments shall be based on the initial budget and adjusted in the twelfth month in K accordance with the final budget. c) During the period of his employment, MCFAC shall provide the General Director with free use of an automobile and accomodations, provided such automobile and accomodations can be made available through the efforts of the General Director at no cost to MCFAC. d) MCFAC shall pay to Associates an amount equal to $1,500.00 as a relocation allowance for General Director. e) This contract shall be automatically renewed for an additional period of five (5) years unless either party shall give notice in writing of their intention not to renew, to the other party not less than six (6) months. f) Associates shall be reimbursed for all expenses (not to exceed $10,000.00) incurred by the General Director while acting in such capacity provided satisfactory vouchers covering such expenses are submitted and provided such expenses are within the budget approved by MCFAC. 3. The parties hereto agree that the General Director referred to herein shall be PARVAN BAKARDJIEV, and agree that such General director will devote sufficient time and attention to the rendition of services as General Director so as to accomplish the responsibilities of General director as set forth herein. Such General Director will comply with all reasonable policies, standards and regulations of MCFAC established from time to time by MCFAC. 4. This Agreement may be terminated by a vote of two thirds of the members of the Council of MCFAC upon the 3 occurrence of one or more of the following: a) In the event the General Director shall be guilty of fraud, fiscal dishonesty or other similar acts of misconduct in the rendering of his service on behalf of MCFAC, or b) In the event the General Director shall fail or refuse to perform the provisions of this Agreement relating to his responsibilities set forth herein. 5. The General Director shall have full authority to negotiate and enter into any contracts, which contracts shall be binding upon MCFAC, relating to the hiring of staff, consultants and all artistic personnel and groups, provided such contracts are within the allocated budget approved by MCFAC. 6. In the event Associates should reorganize, consolidate or merge with another corporation, this Agreement shall become an obligation of such new corporation. 7. In the event, for any reason, PARVAN BAKARDJIEV is unable to act as General Director of MCFAC, as set forth herein, Associates shall provide a suitable replacement, or MCFAC shall have the right to cancel this Agreement. IN WITNESS WHEREOF, the parties hereto haveexecuted is Agreement in duplicate originals, this J`J� day of 1986. MONROE COUNTY FINE ARTS COUNCIL BY: SANDRA T. FOWLER President BAKARDJIEV AND ASSOCIATES, INC. BY: PA N BAKARDJIE President jk At-!