Employment Employment Agreement

EMPLOYMENT AGREEMENT This EMPLOYMENT AGREEMENT has been entered into on [DATE], between [EMPLOYEE NAME] (hereinafter the Employee) and [COMPANY NAME], (hereinafter the Company). The Employer and the Company have agreed that the Company shall employ the Employee on the following terms and conditions: 1. Term of Employment: The Employee's employment with the Company shall begin on [DATE], and, unless extended by written agreement, shall end on [DATE]. 2. Compensation: The Employee will be paid an annual compensation of [N] dollars ($ [N]), which shall be paid in equal installments of [N] dollars ($[N]) on the [N] day of each month. 3. Reimbursement: It is anticipated that the Employee may incur expenses in the course of advancing the Company's business. In that event, the Employee shall be reimbursed for all reasonable expenses he or she may have incurred upon the presentation to the Company of an itemized expense report in a form to be supplied by the Company with receipts for all such expenses above the amount of [N] dollars ($ [N]) attached thereto. 4. Duties of Employee: The Employee is being employed to serve as [EMPLOYEE POSITION], and the Employee's duties will consist of [EMPLOYEE DUTIES]. The Employee will throughout the course of his or her employment by the Company devote his or her time, energy and attention solely to the Business of the Company. Employee further agrees not to accept any fulltiim or part-time employment from any other employer during the course of this agreement, except that this Paragraph 4 shall not be read to preclude the Employee from offering his or her services without compensation to a charitable organization during nonworking hours. 5. Leave Time: The employee shall be entitled to [N] days of fully paid vacation time for the first [N] years of employment and [N] days of fully paid vacation time per year every year thereafter. The Employee understands and agrees that vacation time cannot be accumulated for use in a subsequent year and must be used during the year in which it is earned. 6. Sick Leave; Disability: The employee shall also be entitled to [N] days of fully paid sick leave during each year the Employee shall be employed by the Company. It is understood that sick leave days unused in any one year cannot be accumulated for use in a subsequent year. In the event that the Employee cannot perform his or her duties because of an illness or incapacity that disables the Employee for a period longer than the number of allowed sick days, then after the Employee's sick days shall have been used up, the Employee shall be entitled to receive compensation in the reduced amount of [N] dollars ($[N]) per [N] for a period of [N]. In the event that the Employee is absent from work for an uninterrupted period that shall extend longer than [N] weeks, the Company may terminate the Employee's employment and shall have no further obligations to the Employee. 7. Termination: In the event that the Company shall terminate the Employee for cause, then the Company shall have no obligations to the Employee other than to pay the Employee's salary to the date of discharge less any actual damages the Company may have suffered because of the Employee's wrongdoing. In the event that the Company shall terminate the Employee without cause before the termination date set out in Paragraph 1 above, then the Company shall give the Employee [N] weeks notice of such termination. Upon completion of the notice period, the Employee, in addition to the regular compensation due for the notice period, shall also receive a severance payment of [N] dollars ($[N]) from which the Company shall deduct all applicable taxes. Regardless of anything to the contrary that may appear in this Agreement, the Company can terminate this Agreement upon [N] day's notice to the Employee, without any obligation to provide a severance payment, in the event that the Company (a) terminates its operations and liquidates its business and assets, or (b) is acquired by an unrelated company or by an individual unrelated to any of the Company's principal shareholders. 8. Oral Modifications: This Agreement contains the entire agreement between the Employee and the Company and may be modified only by a written agreement signed by both parties to this Agreement. 9. In the event that a court of competent jurisdiction shall determine that any provision of this Agreement is not enforceable in whole or in part for any reason, then this Agreement shall not be void, but instead shall be enforced to the extent that this Agreement and the challenged provision are deemed to be enforceable by the court, as if the Agreement had been originally executed in that form by the Company and the Employee. 10. The validity, interpretation, construction and enforcement of this Agreement shall be governed by the laws of the State of [STATE]. In witness whereof, the parties have executed this Agreement on [DATE]. [COMPANY NAME] Company By: ___________________ Employee ___________________ President