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Form #594Employment Agreement
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that no legal advice, accounting, or other professional service is being offered
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acceptable in one state may not be enforced the same way under the laws of another
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EMPLOYMENT
AGREEMENT
Employment
Agreement, between __________________________ (the "Company") and
______________________________ (the "Employee").
1. For good consideration, the Company employs the Employee on the following
terms and conditions.
2. Term of Employment. Subject to the provisions for termination set
forth below this agreement will begin on __________, 20____, unless sooner
terminated.
3. Salary. The Company shall pay Employee a salary of $_______ per year,
for the services of the Employee, payable at regular payroll periods.
4. Duties and Position. the Company hires the Employee in the capacity
of ________________________. the Employee's duties may be reasonably modified
at the Company's discretion from time to time.
5. Employee to Devote Full Time to Company. the Employee will devote
full time, attention, and energies to the business of the Company, and, during
this employment, will not engage in any other business activity, regardless of
whether such activity is pursued for profit, gain, or other pecuniary
advantage. Employee is not prohibited from making personal investments in any
other businesses provided those investments do not require active involvement
in the operation of said companies.
6. Confidentiality of Proprietary Information. Employee agrees, during
or after the term of this employment, not to reveal confidential information,
or trade secrets to any person, firm, corporation, or entity. Should Employee
reveal or threaten to reveal this information, the Company shall be entitled to
an injunction restraining the Employee from disclosing same, or from rendering
any services to any entity to whom said information has been or is threatened
to be disclosed, the right to secure an injunction is not exclusive, and the
Company may pursue any other remedies it has against the Employee for a breach
or threatened breach of this condition, including the recovery of damages from
the Employee.
7. Reimbursement of Expenses. The Employee may incur reasonable expenses
for furthering the Company's business, including expenses for entertainment,
travel, and similar items. The Company shall reimburse Employee for all
business expenses after the Employee presents an itemized account of
expenditures, pursuant to Company policy.
8. Vacation. The Employee shall be entitled to a yearly vacation of
_____ weeks at full pay.
9. Disability. In the event that the Employee cannot perform the duties
because
of illness or incapacity for
a period of more than _____ weeks, the compensation otherwise due during said
illness or incapacity will be reduced by _________________ ( ___ percent) . The
Employee's full compensation will be reinstated upon return to work. However,
if the Employee is absent from work for any reason for a continuous period of
over _____ months, the Company may terminate the Employee's employment, and the
Company's obligations under this agreement will cease on that date.
10. Termination of Agreement. Without cause, the Company may terminate
this agreement at any time upon ____ days' written notice to the Employee. If
the Company requests, the Employee will continue to perform his/her duties and
may be paid his/her regular salary up to the date of termination. In addition,
the Company will pay the Employee on the date of the termination a severance
allowance of $_____________ less taxes and Social Security required to be
withheld, without cause, the Employee may terminate employment upon ______
days' written notice to the Company. Employee may be required to perform his or
her duties and will be paid the regular salary to date of termination but shall
not receive severance allowance. Notwithstanding anything to the contrary
contained in this agreement, the Company may terminate the Employee's
employment upon ______ days' notice to the Employee should any of the following
events occur:
(a) The sale of substantially
all of the Company's assets to a single purchaser or group of associated
purchasers; or
(b) The sale, exchange, or other disposition, in one transaction of the
majority of the Company's outstanding corporate shares; or
(c) The Company's decision to terminate its business and liquidate its assets;
(d) The merger or consolidation of the Company with another company.
(e) Bankruptcy or chapter 11 reorganization.
11. Death
Benefit. Should Employee die during the term of employment, the Company
shall pay to Employee's estate any compensation due through the end of the
month in which death occurred.
12. Restriction on Post Employment Compensation. For a period of
_________________ ( ____ ) years after the end of employment, the Employee
shall not control, consult to or be employed by any business similar to that
conducted by the company, either by soliciting any of its accounts or by
operating within Employer's general trading area.
13. Assistance in Litigation. Employee shall upon reasonable notice,
furnish such information and proper assistance to the Company as it may
reasonably
require in connection with
any litigation in which it is, or may become, a party either during or after
employment.
14. Effect of Prior Agreements. This Agreement supersedes any prior
agreement between the Company or any predecessor of the Company and the
Employee, except that this agreement shall not affect or operate to reduce any
benefit or compensation inuring to the Employee of a kind elsewhere provided
and not expressly provided in this agreement.
15. Settlement by Arbitration. Any claim or controversy that arises out
of or relates to this agreement, or the breach of it, shall be settled by
arbitration in accordance with the rules of the American Arbitration
Association. Judgment upon the award rendered may be entered in any court with
jurisdiction.
16. Limited Effect of Waiver by Company. Should Company waive breach of
any provision of this agreement by the Employee, that waiver will not operate
or be construed as a waiver of further breach by the Employee.
17. Severability. If, for any reason, any provision of this agreement is
held invalid, all other provisions of this agreement shall remain in effect. If
this agreement is held invalid or cannot be enforced, then to the full extent
permitted by law any prior agreement between the Company (or any predecessor
thereof) and the Employee shall be deemed reinstated as if this agreement had
not been executed.
18. Assumption of Agreement by Company's Successors and Assignees. The
Company's rights and obligations under this agreement will inure to the benefit
and be binding upon the Company's successors and assignees.
19. Oral Modifications Not Binding. This instrument is the entire
agreement of the Company and the Employee. Oral changes have no effect. It may
be altered only by a written agreement signed by the party against whom
enforcement of any waiver, change, modification, extension, or discharge is
sought.
Signed this_____ day of _____________________ 20____.
______________________________
____________________________
Company
Employee
Contributed by
FastDue.com |
|
Name of Firm |
FastDue.com |
Location |
Fairfield,
Iowa,
United States |
Total Forms Contributed |
74 |
Phone |
641-209-1761 |
Website |
http://fastdue.com |
Email |
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FastDue.com's Forms |
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We hate getting spam as much as you do. So we have implemented a tough spam policy
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party without your explicit consent
Terms Of Use
Submissions to this site, including any legal or business forms, posts, responses
to questions or other communications by contributors are not intended as and should
not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
Please note that the donator may have included different usage terms regarding this
form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
Close
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