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CONTRACT CONTENTS

ARTICLE I

  • EMPLOYMENT
  • OFFICE, DUTIES & TERM
  • COMPENSATION & BENEFITS
  • EXPENSES
  • NON-COMPETITION
  • TERMINATION
  • RESIGNATION
  • NON-ASSIGNABILITY

ARTICLE II

  • GENERAL PROVISIONS

CONTRACT SAMPLE

This ‘EMPLOYMENT AGREEMENT’ (“Agreement”) is made by and entered into between [EMPLOYER COMPANY NAME] (the “Employer”) and [EMPLOYEE NAME] (the “Employee”), and is executed as a binding agreement as of the Effective Date (Employer and Employee are sometimes herein referred to collectively as the “Parties” or individually as a “Party”).

BACKGROUND AND PURPOSE

  1. WHEREAS, the Employer desires to employ the Employee in the position, and upon the terms, stated in this Agreement; and
  2. WHEREAS, the Employee desires to provide services to the Employer as an Employee.

NOW THEREFORE, in consideration of the mutual promises and other good and valuable consideration considered hereinafter, the receipt and sufficiency of which are acknowledged by the Parties, the Employer and the Employee agree as follows:

 

ARTICLE I

  1. EMPLOYMENT

The Employer hereby employs the Employee and the Employee hereby accepts employment at such location as may be reasonably determined by the Employer.

  1. OFFICE, DUTIES & TERM

The Employee shall hold the office and perform the duties for such office as described on Exhibit A attached to this Agreement. The duties of the Employee may be changed from time to time by the Employer. The term of this Agreement shall be [TERM OF EMPLOYMENT] and such employment shall continue uninterrupted until terminated as provided in Section 6 below. The Employee shall devote the Employee’s entire time, attention, energies and skill to the business of the Company during the term of this Agreement.

  1. COMPENSATION & BENEFITS

The Employer shall pay to the Employee and the Employee accepts as full compensation for all services to be rendered to the Employer the compensation and benefits described in full on Exhibit B attached to this Agreement.

  1. EXPENSES

The Employer agrees to reimburse the Employee from time to time for all reasonable business expenses incurred by the Employee in performing the Employee’s duties for the Employer under this Agreement in accordance with the Employer’s policies, provided that the Employee presents to the Employer adequate records and other documented evidence required by the Employer for reimbursement of such expenses incurred on its behalf.

  1. NON-COMPETITION

During the term of the Employee’s employment and for such longer period as the Employee may receive employment severance payments, the Employee shall not, directly or indirectly, as an Employee, Employer, consultant, advisor, agent, principal, partner, officer, director or in any other individual or representative capacity, engage or participate in any business or activity that is competitive in any manner whatsoever with the activities and business of the Employer; nor shall the Employee, during the term of the Employee’s employment induce or attempt to induce any Employee of the Employer to leave such employ for the purpose of joining any organization in competition with the Employer. This Section 5 shall survive expiration or termination of this Agreement.

  1. TERMINATION

This Agreement may be terminated by the Employer upon [DAYS] ([##]) days prior written notice to the Employee or the Employee’s personal representative in the event that:

(a)  (i)   The Employee commits any misfeasance in office (including gross negligence or recklessness) or any act of dishonesty or fraud against the Employer;

(ii) The Employee commits any unlawful or criminal act involving moral turpitude;

(iii) The Employee willfully breaches this Agreement or habitually neglects the Employee’s duties to the Employer.

(b)  The Employee dies during the term of the employment created hereby or is disabled permanently or otherwise in a manner that prevents the Employee from discharging the Employee’s duties under this Agreement; or

(c)  The Employer determines to terminate this Agreement without cause which it may do at any time upon [DAYS] ([##]) days written notice to Employee.

  1. RESIGNATION

The Employee may resign and terminate this Agreement upon [DAYS] ([##]) days written notice to the Employer.

  1. NON-ASSIGNABILITY

Neither the Employer nor the Employee shall have the right to assign this Agreement or any rights or obligations contained in this Agreement without the written consent of the other party. Despite the previous, this Agreement shall be binding upon the successors or assigns of that portion of the business of the Employer with which or for which the Employee is employed.

Continued…

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