Employment Agreement between Company and Senior Employee without option for Senior Employee to purchase share options. This is drafted in favour of the Employee.
The employee is only subjected to a non-compete clause with respect to the Company's customers and vendors. The employee is not restricted (a) by a non-compete clause at the end of his/her employment with the company; (b) from making any defamatory statements about the employer.
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.