Getting MMM* to publicly accept/deny the hypothesis that pr345=GXXM would be enough for everyone. But I think they’ve already stopped responding ever since ARanger asked Pat abt it and Pat told him to refer to GXXM IR. So based on that it may mean a deal is ongoing or it may mean something less positive is happening but it’s been so long we haven’t heard anything that some of us have started thinking that it was not possible the two companies are the same thing. However, no facts have changed since both companies have not responded to anyone. So technically the jury is still out on any type of confirmation. You should reach out to MMM* if you want and even to the SEC but GXXM is current with filings so not sure abt that one....if this is a M&A situation they can take longer than normal so I wouldn’t pay too much attention to ppl’s timeline assumptions...I for one have managed my trade well enough on the way down that my job is now done, there’s nothing more that I can do except sit on my hands (a big part of our job).
GXXM>IMO this clause in his Seperation Letter prevents him from having the right to immediately start competing with his previous employer by creating an almost identical business. However it is not the Standard language you would use in a "covenant not to compete (CNC)". So my stronger opinion is that the only way this would really work is if GXXM becomes a a Sub of MMMM as we suspect thru PR345.
Agreed!
Quote: The DD is too strong to try to say GEX and PR345 are not the same company.
They just aren't the same company yet & To back all this up remember:
10. You (Carl Dorvil) also agree and acknowledge that if you decide to re-apply for employment with GEX or any affiliated or subsidiary entity or its successors within one (1) year from the date of your resignation, you will refund the amount paid ($37,500.)in severance to GEX.
October 15, 2018 Carl Dorvil 1114 Newcastle Drive Rockwall, TX 75032
Re: Separation Letter and General Release Agreement Dear Carl Dorvil
14. Further, you and GEX acknowledge that (a) GEX has provided you access to trade secret, confidential, and/or proprietary information of GEX (including without limitation, employee statistical and/or demographic information; business plans; marketing plans (national and regional and local); market information; management processes; designs, technology, and testing; on-line systems and other computer systems; financial matters; performance results; and employee compensation) (collectively, the “Confidential Information”); (b) the Confidential Information has been and will be established and maintained at great expense to GEX; (c) GEX expects to make a substantial investment in maintaining and expanding the opportunities available to it as a result of the existence of the Confidential Information; (d) the disclosure to, or use of such information by a competitor or a claimant would cause serious financial harm to GEX; and (e) without regard to whether any Confidential Information would be deemed confidential, material, or important by any third party, you and GEX now agree that, as between them, the Confidential Information is important, material, and confidential and gravely affects the effective successful conduct of business and mission of GEX and its goodwill.
GEX has in the past provided you with Confidential Information and, even though you understand that you have had such an obligation since you began your employment with GEX, in exchange for your agreements set forth herein, you agree that you or your representative or agent shall not, directly or indirectly, through any form of ownership, in any individual or representative or affiliated capacity whatsoever, reveal, divulge, disclose, or communicate to any person, firm, association, corporation, or other entity any Confidential Information belonging to GEX.
In contract law, a non-compete clause (often NCC), or covenant not to compete (CNC), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer). Some courts refer to these as "restrictive covenants.
The use of such clauses is premised on the possibility that upon their termination or resignation, an employee might begin working for a competitor or starting a business, and gain competitive advantage by exploiting confidential information about their former employer's operations or trade secrets, or sensitive information such as customer/client lists, business practices, upcoming products, and marketing plans.
CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) March 22, 2019 Commission file number: 1-03319 Mineral Mountain Mining & Milling Company
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On Closing: (i) Mr. Felix Keller (a member of the Board since October 23, 2017) shall resign as a member of the Board of Directors of the Company; and (ii) pursuant to the provisions of the SEA’s, the Board shall be comprised of Carl Dorvil, Pat Dileo and Derrick Chambers, joining existing directors, Sheldon Karasik and Michael Miller. Mr. Derrick Chambers and Mr. Michael Miller shall serve as independent directors.
Carl Dorvil, age 35, Director: Mr. Dorvil served as the Chief Executive Officer and Chairman of the Board of GEX Management, Inc., OTCQB: GXXM (“GEX”), a reporting public company engaged in the business of offering PEO services, from 2004 until October 15, 2018, at which date his employment agreement with GEX ended. While Mr. Dorvil’s position as CEO and Chairman of GEX ended on or about October 15, 2018, he continues to provide limited consulting services to GEX.
FORM 8-K
CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 28, 2018
GEX MANAGEMENT, INC
On October 15, 2018, Carl Dorvil resigned as Chief Executive Officer of the Company. In connection with his resignation, Mr. Dorvil relinquished his role as “Principal Executive Officer” of the Company for SEC reporting purposes. Mr. Dorvil also resigned as the Company’s Chairman of the Board of Directors as of such date. Mr. Dorvil’s resignation was for personal reasons and was not the result of a disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. In connection with Mr. Dorvil’s resignation, his Employment Agreement with the Company, dated June 26, 2017, was deemed to be terminated.
In connection with his resignation, on October 15, 2018, the Company entered into a Separation Letter and General Release Agreement with Mr. Dorvil (the “Dorvil Separation Agreement”), pursuant to which the Company agreed to pay Mr. Dorvil severance pay of three (3) months’ salary, in the aggregate amount of $37,500 (less standard withholding and applicable deductions), in consideration for his general release of the Company and certain related parties from any claims he may have against them. The severance payment is payable within 14 days from the date of Mr. Dorvil’s execution of the Dorvil Separation Agreement. The Company also agreed to reimburse Mr. Dorvil for all unreimbursed travel and business expenses to which Mr. Dorvil is entitled. The Dorvil Separation Agreement also contains standard provisions related to confidentiality and non-disparagement.
10. You also agree and acknowledge that if you decide to re-apply for employment with GEX or any affiliated or subsidiary entity or its successors within one (1) year from the date of your resignation, you will refund the amount paid in severance to GEX.
You understand and agree that this Agreement does not constitute an admission of any kind by GEX, but is simply an accommodation that offers certain extra benefits to which you would not otherwise be entitled in return for your agreeing to sign this Agreement
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