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This is an agreement between an employer and an employee outlining the terms and conditions of the employment. Such terms include a probation period for the employee, the compensation to be paid to the employee, and vacation entitlement. The agreement also contains a confidentiality provision that prohibits the employee from disclosing the company?s confidential information, including customer lists. This employment agreement should be retained by the human resources department and kept in the employee?s personnel file.
This is an agreement between an employer and an employee outlining the terms and conditions of the employment. Such terms include a probation period for the employee, the compensation to be paid to the employee, and vacation entitlement. The agreement also contains a confidentiality provision that prohibits the employee from disclosing the company?s confidential information, including customer lists. This employment agreement should be retained by the human resources department and kept in the employee?s personnel file. EMPLOYMENT CONTRACT THIS EMPLOYMENT AGREEMENT (the “Agreement”) made as of the ___ day of ______________, 20___ [Instruction: Insert Date] (the “Effective Date”) by and between ___________________ [Instruction: Insert Name of Employer] having its principal place of business at _______________________ [Instruction: Insert Address] (the “Employer”), and ____________________ [Instruction: Insert Name of Employee], ______________ [Instruction: Insert Address] (the “Employee”). WHEREAS the Employer desires to obtain the benefit of the services of the Employee; and the Employee desires to render such services on the terms and conditions set forth herein; NOW, THEREFORE, in consideration of the promises and other good and valuable consideration set forth, the parties agree as follows: 1. EMPLOYMENT A. The Employee agrees that the Employee will at all times faithfully, industriously, and to the best of the Employee’s skill, ability, experience and talents, perform all of the duties required of the Employee’s position. In carrying out these duties and responsibilities, the Employee shall comply with all of Employer’s policies, procedures, rules and regulations, whether written and oral, as some are announced by the Employer from time to time. It is also understood and agreed to by the Employee that the Employee’s assignment, duties and responsibilities and reporting arrangements may be changed by the Employer, in Employer’s sole discretion without causing termination of this Agreement. B. The Employee shall devote his entire time and attention to the Employer's business. During the term of this Agreement, the Employee shall not engage in any other business activity, regardless of whether it is pursued for gain or profit. The Employee, however, may invest his assets in other companies, so long as they do not require the Employee's services in the operation of their affairs. 2. TERM AND TERMINATION A. The term of this Agreement shall begin on the Effective Date, and shall terminate _________________ (____) [Instruction: Insert Number of Months or Years] [Instruction: Choose One: months///years] therefrom. B. The Employer shall have the right to extend this Agreement for an additional period of _________________ (____) [Instruction: Insert Number of Months or Years] [Instruction: Choose One: months///years], by giving at least thirty (30) days written notice to the Employee. C. Notwithstanding anything to the contrary contained herein, the Employee acknowledges that the Employee’s ability to perform Employee’s employment tasks and duties are the basis for the Employer entering into this Agreement and cannot be demonstrated until a period of employment has elapsed. Accordingly, the Employee agrees that the first three (3) months of © Copyright 2013 Docstoc Inc. 2 employment shall be probationary (the “Probationary Period”) and that during the period the Employer may terminate the Employee’s employment by giving at least seven (7) days written one notice to Employee. D. Following the Probationary Period, the Employer may, without cause, terminate this Agreement at any time by giving 30 days written notice to the Employee. In such event, the Employee, if requested by the Employer, shall continue to render his services, and shall be paid his regular compensation up to the date of termination. E. Notwithstanding anything to the contrary, the Employer may terminate this Agreement by giving seven (7) days’ notice to the Employee of the occurrence of any of the following events: (i) the Employer sells substantially all of its assets to a single purchaser or to a group of associated purchasers; (ii) at least two-thirds of the outstanding corporate shares of the Employer are sold, exchanged, or otherwise disposed of, in one transaction; (iii) the Employer elects to terminate its business or liquidate its assets; or (iv) there is a merger or consolidation of the Employer in a transaction in which the Employer's shareholders receive less than 50 percent of the outstanding voting shares of the new or continuing corporation. 3. COMPENSATION A. As full compensation for all services provided for herein, the Employer shall pay or cause to be paid, to the Employee a salary, at an annual rate of _____________ Dollars ($______)[Instruction: Insert Salary] (the “Salary”) to be paid in regular installments in accordance with the Employer’s usual payment practices, but not less frequently than monthly; B. The Salary shall be increased annually by the percentage by which the Consumer Price Index increases in the twelve (12) months proceeding, to a maximum of _______ percent (___%)[Instruction: Insert Percentage]; and C. Such payments shall be subject to such deductions by the Employer as the Employer is from time to time required to make pursuant to law, government regulation or order or by Agreement with, or consent of, the Employee. 4. EXPENSES The Employee shall be entitled to reimbursement by the Employer for reasonable expenses actually incurred by the Employee on Employer’s behalf in the course of the Employee’
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