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Employment Agreement between Company and Senior Employee without option for Senior Employee to purchase share options. This is drafted in Neutral form.
The Employee agrees to abide by all the rules and regulations of the Company, as provided and notified to the Employee from time to time, at all times while employed.
During the term of the employment, the Employee shall not, except (a) as a representative of the Company; (b) previously notified to the Company; or (c) or with the prior written approval of the Company, whether paid or unpaid, be directly or indirectly engaged or concerned or have any financial interests as agent, consultant, director, employee, owner, partner, or shareholder, or in any other capacity in any other business, trade, profession, or occupation (or the setting up of any business, trade, profession, or occupation).
The Employee shall immediately disclose to the Company (a) all circumstances in respect of which there is, or may be, a conflict of interest between the Employee and the Company; and (b) any breach or default of the Employee’s obligations under this Employment Agreement.
The Employee may hold an investment by way of shares or other securities of not more than [SHARES] per cent of the total issued share capital of any company (whether or not it is listed or dealt in on a recognised stock exchange) where such company does not carry on a business similar to or competitive with any business for the time being carried on by the Company.
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.