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Employment Agreement between Company and Junior Employee with option for Junior Employee to purchase share options. This is drafted in Neutral form.
The agreement outlines the employee's position, the period of the employment, the probationary period, remuneration, disciplinary action(s) should they not abide by the regulations, termination and dispute resolution. By signing the agreement the employee also agrees to provide the Company with a complete record of any intellectual property which they may devise or create during their employment, and they agree to not solicit any of the Company's clients.
A brief description of the job description of the Employee is embedded at the beginning of the Employment Agreement. That includes the title of position, the time the Employee is required to return to the office and the nature of employment.
Regarding the period of employment, the commencement date of employment shall be specified in the agreement. Working hours, entitled holidays, and term of employment shall also be outlined in the agreement. Provisions on probation shall also be included in the agreement if applicable.
Remuneration shall be stated clearly with the correct amount and a specific currency.
The anticipated discipline of the Employee has been outlined in the agreement, including compliance with the relevant laws and regulations, any possible affiliations that may harm the Company’s interests, any conflict of interests, etc. Ultimately, the Employee shall avoid performing in any way that may harm the Company’s interests and benefits. Illegal activities shall also be strictly prohibited.
Details for termination, including the proceedings and consequences, have been stated in the agreement. It shall be noted that the agreement the Company has the right to terminate the agreement unilaterally if the Employee has violated any stated items. In case of litigations post-termination, the Company may request the Employee to engage in the case and assist the litigation process.
Rules regarding confidentiality and intellectual property as stated in the agreement shall also be strictly adhered by the Employee.
Other common contractual clauses, such as the jurisdiction clause, the entire agreement clause and the rights of the third-party clause are also included so as to protect the interests of both the Company and the Employee, and to reduce the possibilities of having unnecessary disputes between the parties.
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.