This is an agreement between an employer and an employee outlining terms of the
employment for the employee, including employment period, compensation, scope of
duties and responsibilities for the executive officer, and leave policy. The agreement
also contains restrictive covenants, such as a nondisclosure clause whereby the
employee agrees not to reveal company confidential and proprietary information; a non-
competition clause whereby the employee agrees not engage in or be employed in a
competing company for a set amount of time; and a non-solicitation clause whereby the
employee agrees not to solicit company customers or clients for a set period of time.
This employment agreement should be retained by the human resources department
and kept in the employeeâ€™s personnel file.
EMPLOYMENT AGREEMENT â€“ Executive Officer
This EMPLOYMENT AGREEMENT, made on this ______ day of ___________________,
201___, (â€Effective Dateâ€), by and between _______________________ (the â€œCompanyâ€), a
_________________[STATE WHERE INCORPORATED] corporation with its principal
place of business in ___________________ [PROVIDE NAME OF STATE], and
____________________ (the â€œExecutiveâ€), residing at ______________________________.
[PROVIDE CITY AND STATE OF EXECUTIVE]
WHEREAS, the Company wishes to secure the services of Executive for the term of this
Agreement, and the Executive is willing to serve as Executive Officer of the Company upon the
terms and conditions hereinafter provided.
NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties
hereto hereby agree as follows:
The Company hereby employs Executive to serve as its Executive Officer, and Executive hereby
accepts such employment by the Company, upon the terms and conditions herein provided.
2. DUTIES AND RESPONSIBILITIES
Executive shall report to _______________________ [PROVIDE NAME AND/OR TITLE OF
EXECUTIVES SUPERVISOR] of the Company. Executive agrees to discharge such duties as
may be delegated to him from time-to-time by the Company. The Company reserves the right to
change or modify the designation of Executive or his duties at Company's discretion from time-
to-time. Executive shall devote his full time and attention for the performance of the duties
assigned to him. During the term of his employment the Executive shall not engage in any other
business or occupation. However, Executive is not prohibited from making passive or personal
investments for which the expenditure of time is not required. Executive acknowledges that he
shall travel, as reasonably required by the Company, in connection with his employment.
The initial principal location where the Executive shall perform services for the Company shall
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This agreement shall commence on the Effective Date and shall continue for a period of ______
years (the initial term). At the expiration of the said initial term, this Agreement shall be
automatically extended for additional successive one (1) year terms (the renewal term) unless
either party gives written notice of its intention to the other party not less than ninety (90) days
prior to the expiration of the then current term and any renewal term.
5. VACATION AND SICK LEAVE
Executive shall be entitled to the number of paid vacation days that is consistent with existing
Company policies for its executive officers. Executive shall also be entitled to all paid holidays
given by the Company to its executive officers.
Executive shall receive an annual base salary ("Base Salary") at the rate of $___________. The
Base Salary shall be payable in substantially equal monthly instalments. In addition to Base
Salary, Executive is eligible to receive incentive compensation in accordance with the then-
current incentive plan of the Company.
The Executive agrees that all processes, procedures, programs, discoveries, ideas, formulae,
improvements, developments, technologies, designs, inventions (collectively "Inventions"),
whether or not patentable or copyrightable, conceived, developed, invented, or made solely by
the Executive, or jointly with others, during the Appointment and the normal working hours of
shall be the property of, and belongs to, the Company.
8. TERMINATION OF EMPLOYMENT
(a) Without cause, the Company may terminate this agreement at any time upon ____ days'
written notice to the Executive. If requested by the Company, the Executive shall continue to
perform his duties and shall receive salary up to the date of termination.
(b) Without cause, the Executive may terminate this agreement upon ______ days' written notice
to the Company. If requested by the Company, the Executive shall continue to perform his duties
and shall receive salary up to the date of termination. In addition, the Company at its discretion
may pay the Executive a severance allowance on the date of the termination.
(c) The Company may terminate this Agreement for cause for any of the followi