Employment Agreement between Company and Senior Employee without option for Senior Employee to purchase share options. This is drafted in favour of the Company.
In this Agreement:
(a) the Employee is subjected to a Probationary Period and a Non-compete and Non-solicitation for a period of 12 months
(b) the Employee warrants that he/she is not subjected to any restrictive agreement and will indemnify the Employer in case of breach.
(c) the Employee is restricted from making any statements about the employer that can adversely affect the reputation of the employer.
(d) the Employee is entitled to Annual leave, sick leave and personal leave during the term of employment
(e) in the event of a breach, or threatened breach of the agreement, the Company will suffer immediate and irreparable harm which said harm is presumed to occur, and that Company shall be entitled to receive a temporary restraining order as well as the entry of a preliminary and permanent injunction
This document should be carefully read by the Company and the Employee.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
Different aspects of details related to the job, including the job description, period of employment, remuneration, etc should all be clearly stated in the employment agreement.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
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Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.