UNIT 3. Activities After Reading The Agreement
Suggest Russian equivalents for the words and word-combinations from the text of the Agreement.
| in witness whereof on behalf of general provision deduction misconduct | registered office hereinafter referred to as natural disaster grievance reimbursement | on mutual agreement in good faith remuneration probationary period resignation | legal entity unilaterally overtime dissatisfaction allowance |
Fill in the blanks with the appropriate word-combination or phrase. Choose from the given below. Give Russian translation of the whole sentence.
(·remuneration; ·terms and conditions; ·IN WITNESS WHEREOF; ·terminate; ·probationary period; ·Force Majeure circumstances; ·hereby ·engage; ·whereas; ·dismissal)
1) The Party, which is unable to perform its obligations due to _______ shall undertake to notify the other Party in writing, within two business days after the commencement of such circumstances, about the nature and scope of such circumstances.
2) The Employer desires to employ the Employee and the Employee has agreed to accept and enter such employment upon ______ set out in this Agreement.
3) _____, the parties have executed this Agreement as of the date first above written.
4) If an Employee is in probationary period or first year of employment, only one warning is required before ______.
5) The Employee will devote full time, attention, and energies to the business of the Company, and, during this employment, will not _____ in any other business activity.
6) _____ the Parties mutually declare that they have the authority and desire to enter into this Contract.
7) The Employee understands and agrees that any additional _____ paid to the Employee in the form of bonuses will rest in the sole discretion of the Employer.
8) Without cause, the Employee may ______ employment upon three days' written notice to the Company.
9) After the end of your ______, Company may terminate your employment without cause at any time by providing you with the minimum notice, or pay in lieu of such notice.
10) The Employer and the Employee ______ declare that they understand thoroughly the above provisions and agree to sign this Agreement.
Match the words from the right column with their opposites in the left one.
| commence remuneration increase suitable allowance performance full time mutual constitute valid | unfit dismiss unilateral terminate null and void deduction forfeit decrease failure part time |
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Reduce the informality of each sentence replacing the underlined word-combination by set phrases employed in the Agreements.
1. The Employer and the Employee agree that they have a common interest in working together properly.
2. The Agreement shall begin on March 11, 2015 and continue until finished in accordance with this Agreement.
3. Testifying as a witness, the Parties hereto have executed this Agreement as of the date first written above.
4. Any such work performed outside the normal working week will be compensated following the principles of overtime payment.
5. This Employment Agreement is concluded between RY Public Relations Company nominated as Employer and Andres Pryce nominated as Employee.
Propose different various of the given sentences using set phrases employed in the Agreements:
1. SEC Corporation ("SEC") and Shanghai Hua Hong Technological Company ("SHHTC") hereby have agreed as follows: ...
2. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
3. The Company may terminate this Agreement at any time by 10 working days’ written notice to the Employee.
4. Unexpected Event affecting a party means anything outside that party’s reasonable control, including but not limited to, acts or omissions of the other party, fire, storm, flood.
Define whether the statement is true or false.
1. Either party can terminate the Agreement with two weeks written notice.
2. The Parties shall be liable for the non-performance of their obligations hereunder if this fact results from Force Majeure circumstances.
3. During the trial period the employer may not terminate the employment.
4. Unapproved sick leave is not the ground for deductions from the employee’s wages.
5. The Agreement replaces any previously expressed or implied written or oral contractual terms or provisions that may have existed prior to this Agreement.
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6. The hours and/or days of work of employees may be increased or decreased by the employer in order to meet labour requirements.
Give English equivalents to the following sentences:
1) В удостоверении чего Стороны пришли к заключению о нижеследующем.
2) C учетом изложенных далее соглашений и достигнутых договоренностей Стороны вступают в настоящее Соглашение и договариваются о следующем.
3) Принимая во внимание, что Стороны совместно заявляют, что они имеют полномочия и желание заключить настоящий Контракт.
4) Время начала работы и окончания устанавливаются по соглашению Сторон.
5) Компания “Стрим Юнайтид”, именуемая в дальнейшем “Работодатель”, с одной стороны, и Александр Волжин, именуемый в дальнейшем “Работник”, с другой стороны, заключили настоящий договор о нижеследующем.
6) Работник обязуется добросовестно выполнять трудовые обязанности, предусмотренные настоящим Трудовым Договором.
7) Условия настоящего Трудового Договора могут быть изменены только по соглашению Сторон и в письменной форме.
8) Договор по инициативе одной из Сторон может быть расторгнут, если эта Сторона уведомила другую Сторону письменно за 30 дней до истечения его срока.
9) Условия договора не могут быть изменены Сторонами в одностороннем порядке.
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10) Стороны освобождаются от ответственности за исполнение обязательств по Договору, если невозможность их исполнения явилась следствием обстоятельств непреодолимой силы.
11) Испытательный срок составляет три месяца с момента заключения настоящего трудового Договора.
12) Настоящий Договор вступает в силу с момента его подписания сторонами.
13) Никакие поправки или изменения к настоящему Договору не имеют силы, если они не составлены в письменном виде и не подписаны обеими Сторонами.
14) В случае, если Стороны не придут к соглашению, то дело подлежит передаче на решение Арбитражного суда.
15) Если одно из условий договора почему-либо противоречит требованию закона или не может быть реализовано, оно может быть объявлено недействительным, однако все остальные условия, тем не менее, сохраняют свою силу.
UNIT 4. Extension Activities
Let’s consider another variant of Employment Agreement (The text of the Agreement is taken from: http://contracts.onecle.com/app-pharmaceuticals/tajak-emp-2008-03-31.shtml)
Read and translate the following Employment Agreement, accomplish all the tasks that come after it.
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of March 31, 2008 (the “Effective Date”) between APP Pharmaceuticals, LLC, a Delaware limited liability company (the “Company”) and Richard J. Tajak (the “Executive”).
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RECITAL
The Company desires to employ the Executive, and the Executive desires to be so employed by the Company, on the terms and subject to the conditions set forth in this Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual promises set forth in this Agreement, the Company and the Executive hereby agree as follows:
Employment
Subject to the terms and conditions contained herein, the Company hereby agrees to employ the Executive, and the Executive accepts such employment, on the Effective Date until the Termination Date.
During the Executive’s employment under this Agreement, the Executive shall render services to the Company and its parent APP Pharmaceuticals, Inc., (the “Parent”) in the position of Senior Vice-President of Finance; provided, that (i) within ninety (90) days from the Effective Date the Board may, in its discretion, appoint the Executive as Executive Vice-President and Chief Financial Officer of Company and Parent and (ii) the Executive may have such other title or titles as may be assigned to the Executive by the Board. The Executive shall perform such duties and responsibilities as are normally related to such positions, subject to such modified or additional duties (that are not materially inconsistent with duties and responsibilities as are normally related to such positions) as may be assigned by the Board or the Chief Executive Officer. The Executive will report to the Chief Executive Officer.
In performing his services hereunder, the Executive shall abide by the rules, regulations, and practices of the Company (and, if applicable, the Parent) as adopted or modified from time to time in the sole discretion of the Company (or, if applicable, the Parent).
The Executive will devote his entire business time, energy, attention and skill to the services of the Company (and, if applicable, the Parent) and to the promotion of its interests. So long as the Executive is employed by the Company, the Executive shall not, without the written consent of the Company:
engage in any other activity for compensation, profit or other pecuniary advantage, whether received during or after the term of this Agreement;
render or perform services of a business, professional, or commercial nature other than to or for the Company (or, if applicable, the Parent), either alone or as an employee, consultant, director, officer, or partner of another business entity (including serving on boards of directors), whether or not for compensation; or
plan or otherwise take any preliminary steps, either alone or in concert with others, to establish or engage in any business or activity that would compete with the current or proposed business of the Company (and, if applicable, the Parent); provided, that it shall not be a violation of this Agreement for the Executive to (A) serve on civic or charitable boards, (B) manage personal investments, (C) serve on corporate boards, or (D) engage in such other activities as the Chief Executive Officer may approve, so long as such activities do not interfere materially with the performance of the Executive’s duties and responsibilities to the Company (and, if applicable, the Parent).
Location of Employment
The Executive’s principal place of employment shall initially be at the Company’s offices in Schaumburg, Illinois; provided that at the reasonable direction of the Chief Executive Officer the Executive may, from time to time, be required to travel to various domestic and foreign locations for purposes consistent with his duties hereunder.
Compensation
In exchange for full performance of the Executive’s obligations and duties under this Agreement, the Company shall pay the Executive a salary at the rate of Three Hundred Fifty Thousand ($350,000.00) per year (“Base Salary”). The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice. The Base Salary will be reviewed from time to time in accordance with the established procedures of the Company for adjusting salaries for similarly situated employees and may be adjusted in the sole discretion of the Board or the Company’s Compensation Committee. Such adjusted salary shall become the “Base Salary.”
The Base Salary hereof is a gross amount, and the Company shall be required to withhold from such amount deductions with respect to Federal, state and local taxes, unemployment compensation taxes and similar taxes, assessments or withholding requirements.
During the Executive’s employment under this Agreement, the Executive shall also be reimbursed by the Company for reasonable business expenses actually incurred or paid by the Executive, consistent with the policies established by the Board, in rendering to the Company the services provided for in this Agreement.
The Executive shall be entitled to vacation and sick leave on terms equivalent to those of other executive officers of the Company. The Executive shall accrue four (4) weeks of vacation in his first year of emplyment with the Company in accordance with the Company’s standard vacation policy.
The Executive shall be entitled to participate in all benefit plans (including but not limited to any medical, dental, life insurance, retirement and disability plans) and to all perquisites which shall be available from time to time to the executive officers of the Company generally; provided, however, that the Executive shall have no right to participate in any stock option, stock purchase or other plan relating to shares of capital stock of the Company or its affiliates (except as provided in subsection (f) below). The Executive acknowledges and agrees that the Company may, in its discretion, terminate at any time or modify from time to time any such benefit plans.
The Company shall pay to the Executive a cash bonus of Fifty Thousand Dollars ($50,000.00) on the first anniversary of the date hereof if the Executive remains employed by the Company as of such date.
Termination
The Executive’s employment hereunder may be terminated as follows:
The employment of the Executive under this Agreement shall terminate on the date of the Executive’s death.
The employment of the Executive under this Agreement may be terminated by the Company immediately upon giving the Executive notice if the Executive becomes Disabled.
Executive may voluntarily terminate his employment under this the Executive voluntarily terminates his employment relationship with the Company. (ii) Such voluntary termination shall be deemed Agreement by giving the Chief Executive Officer written notice of his resignation signed by the Executive or, if no notice is given, on the date on which for purposes hereof to have occurred for “Good Reason” only if (1) the Executive provides written notice to the Company within twenty (20) days after the Executive becomes aware of the circumstances giving rise to “Good Reason”, (2) the Company fails to correct the circumstances giving rise to “Good Reason” within thirty (30) days following receipt of such notice and (3) the Executive resigns within fifteen (15) days following such thirty (30) day period.
5.Consequences of Termination
The Executive agrees that all property (including, without limitation, all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Company (or, as applicable, the Parent) and shall be promptly returned to the Company upon termination of the Executive’s employment.
Upon termination of the Executive’s employment, the Executive shall be deemed to have resigned from all offices and directorships then held with the Company, the Parent, and each of their subsidiaries. Following any termination of employment, the Executive shall reasonably cooperate with the Company (i) in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees and (ii) in the defense of any action brought by any third party against the Company or the Parent that relates to the Executive’s employment by the Company; provided, that in each case the Company shall reimburse the executive for any out-of-pocket fees and expenses incurred by the Executive in connection with such cooperation.
Governing Law
This Agreement shall be governed by and construed and enforced in accordance with the internal substantive laws (and not the laws of conflicts) of the State of Illinois.
Entire Agreement
This Agreement constitutes the whole agreement of the parties hereto in reference to any employment of the Executive by the Company and in reference to any of the matters or things herein provided for or hereinabove discussed or mentioned in reference to such employment; all prior agreements, promises, representations and understandings relative thereto being herein merged.
Assignability
This Agreement is personal in nature and the Executive shall not, without the written consent of the Company, assign or transfer this Agreement or any rights or obligations hereunder.
Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give to any person, other than the parties to this Agreement, any right, remedy or claim under or by reason of this Agreement or of any term, covenant or condition of this Agreement.
Amendments; Waivers
This Agreement may be amended, modified, superseded, canceled, renewed or extended and the terms or covenants of this Agreement may be waived only by a written instrument executed by the parties to this Agreement or, in the case of a waiver, by the party waiving compliance. Any such written instrument must be approved by the Board to be effective as against the Company. The failure of any party at any time or times to require performance of any provision of this Agreement shall in no manner affect the right at a later time to enforce the same. No waiver by any party of the breach of any term or provision contained in this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such breach, or a waiver of the breach of any other term or covenant contained in this Agreement.
IN WITNESS WHEREOF, the parties to this Agreement have executed this Employment Agreement as of the date first above written.
| APP Pharmaceuticals, LLC | ||||
| Patrick Soon-Shiong | ||||
| By: Patrick Soon-Shiong, M.D. | ||||
| Chief Executive Officer |
| Address for Notices: 11755 Wilshire Blvd., 20th Floor | ||||
| Los Angeles, California 90025 |
By signing below, the undersigned acknowledges and agrees that, except as expressly set forth in a written agreement signed by an authorized representative of the Company, the undersigned (i) has not been promised any equity interests in the Company or any of its subsidiaries, affiliates or predecessors and (ii) does not and will not have any right to any equity interests in the Company or any of its subsidiaries, affiliates or predecessors.
Notes
| LLC (Limited liability company) | ООО (общество с ограниченной |
| ответственностью) | |
| in consideration of | вследствие |
| termination date | дата прекращения действия |
| договора | |
| discretion | дискреционное право |
| to abide by the rules | придерживаться правил |
| pecuniary advantage | денежная выгода |
| in accordance with | в соответствии с |
| assessment | налог, сумма налогового обложения |
| to reimburse | компенсировать |
| perquisites | дополнительные доходы |
| chief executive officer | главный управляющий директор |
| resignation | увольнение |
| accrued compensation | не выплаченная заработная плата |
| tangible | вещественный, реальный |
| substantive law | материально-правовой закон |
| to supersede | отменить, лишать силы |
| facsimile transmission | передача фототелеграфной связью |
| now, therefore | с учетом вышеизложенного |
| covenants | условия договора |
| in reference to | что касается, относительно |
| to set forth | указывать, излагать |
| in concert with | вместе с, согласованно с |
| to compete | составлять конкуренцию |
| to withhold | приостанавливать, отказывать в |
| COBRA | Сводный Всеохватывающий Согласительный Акт по Бюджету |
Answer the following questions:
1) What are the clauses of the Employment Agreement?
2) Who are the Parties of the Agreement?
3) Name the subject of the Agreement.
4) What shall the principal place of employment be?
5) What is the Base Salary?
6) In what cases the Executive’s employment may be terminated?
7) What are the consequences of termination?
8) What laws shall govern the Agreement?
9) Under what conditions this Agreement may be amended or modified?
10) In what cases shall the Executive have the right to assign or transfer the Agreement?
Find the meaning of the following words and word combinations in the text: assessment, substantive law, in reference to, to reimburse, to abide, by the rules, accrued compensation, in concert with, to withhold, perquisites, in consideration of, termination date, resignation, to set forth, covenants, to supersede, chief executive officer, to compete, now, therefore.
Find the equivalents:
| 1) resignation | a) уведомление |
| 2) substantive law | b) обстоятельства непреодолимой силы |
| 3) on mutual agreement | c) несоответствие |
| 4) hereinafter referred to as | d) поправка |
| 5) notification | e) материально-правовой закон |
| 6) unilaterally | f) вышеупомянутый |
| 7) a gross amount | g) по взаимному соглашению |
| 8) discrepancy | h) вещественный |
| 9) acts of God | i) увольнение |
| 10) amendment | j) дискреционное право |
| 11) null and void | k) в одностороннем порядке |
| 12) foregoing | l) указывать |
| 13) tangible | m) валовая сумма |
| 14) discretion | n) недействительный |
| 15) to set forth | o) именуемый в дальнейшем |
Insert necessary words and word combinations to the sentence (cash bonus, Base Salary, obligations, in witness whereof). Translate the sentences into Russian.
1) In exchange for full performance of the Executive’s _________ under this Agreement, the Company shall pay the Executive a salary.
2) _________, the parties to this Agreement have executed this Employment Agreement as of the date first above written.
3) The ________ shall be paid in accordance with the Company’s regularly established payroll practice.
4) The Company shall pay to the Executive a _________ of fifty thousand dollars on the first anniversary.
Match the parts of sentences in A and B columns.
A B
| 1) to engage in any activity
2) a gross amount
3)to participate in a stock option
4) upon the occurrence of
5) employment relationship
6) without limitation
7) out-of-pocket fee
8) to serve on boards
9) in the case of a waiver
10) in accordance with the internal
substantive laws
| a) трудовые отношения b) быть членом правления c) без исключения d) участвовать в акционерном опционе e) вести какую-либо деятельность f) сумма оплаченная наличными g) в случае отказа h) валовая сумма i) при наступлении j) согласно внутренним материально- правовым законам |
Translate into English the following words and word combinations:
трудовое соглашение, согласованно с, распоряжаться личными инвестициями, время от времени, местные налоги, обоснованные расходы, материально-правовой закон, отпуск по болезни, медицинское и стоматологическое страхование, план по приобретению акций, добровольно, отдавать себе отчет в, в соответствии с, сотрудничество, регулирующий закон, компенсировать, вносить дополнения, заказная почта, подпись, подтверждение передачи, уполномоченный представитель компании, дочерние и зависимые общества, предшественник, дата заключения (соглашения), при соблюдении условий, о нижеследующем, величина капитала, акционерная доля, от имени компании, с учетом указанных в настоящем Соглашении вводных положений и взаимных обязательств.
Find synonyms to the following words and word combinations in the text: conditions, to perform, current, initially, to participate, to provide, in connection with, failure.
Compose sentences using the following words:
1) Executive, the, this, employment, the, of, terminate, date, under, the, Agreement, shall, the, Executive´s death, on, of.
2) may, amended, this, canceled, or, Agreement, modified, extended, be, renewed.
3) employ, the, Company, Executive, desires, the, terms, set, on, this, in, forth, the, Agreement, to.
4) business, energy, and, to, will, the, time, his, devote, of, services, Company, the, entire, skill, Executive, the.
5) principal, in, employment, shall, at, Executive´s, the, place, of, be, Company´s offices, Schaumburg, Illinois, initially, the.
Make up the sentences using the following words: “in consideration of”, “in reference to”, “in accordance with”, “hereby agreed as follows”.
Translate the following sentences using the text:
1) В обмен на полноценное исполнение обязанностей Работника Компания должна выплатить ему заработную плату в размере трехсот пятидесяти тысяч долларов в год („Базовый оклад”).
2) Компания может мгновенно прекратить наем Работника по настоящему Соглашению по предоставлению уведомления, в случае если Работник становится недееспособным.
3) Если наем Работника по настоящему соглашению прекращен в связи со смертью, инвалидностью или добровольным окончанием срока работы, Компания должна платить Работнику (или, в зависимости от конкретного случая, его наследникам или его уполномоченному) не выплаченную заработную плату.
4) Работник согласен, что все имущество (включая, без исключения, оборудование, вещественную служебную информацию, документы, отчетные материалы, контракты), предоставленное или созданное за время пребывания в должности, принадлежит Компании.
5) Настоящее Соглашение должно быть оформлено, истолковано и исполнено в соответствии с внутренними материально-правовыми законами штата Иллинойс.
6) Все примечания, заявления или соглашения, предписанные или допущенные настоящим Соглашением, должны быть сделаны в письменном виде и переданы другим сторонам с помощью личной доставки, заказной почты, курьерской воздушной перевозки в течение трех дней.
7) Компания имеет намерение нанять Работника, а Работник имеет намерение работать в Компании на условиях, изложенных в настоящем Соглашении.
8) При выполнении своих обязанностей в соответствии с настоящим Соглашением Работник должен придерживаться правил, инструкций и норм согласно утверждению и изменению время от времени по усмотрению Компании.
9) Работник должен иметь право на отпуск и отпуск по болезни на условиях, приравненных к тем, которые имеют другие должностные лица.
10) Работник не должен без письменного согласия Компании заниматься какой-либо другой деятельностью ради компенсации, прибыли или другой денежной выгоды независимо от того, получал ли он их или нет во время или после срока исполнения настоящего Соглашения.
Express your own opinion about the words of the influential labour lawyer Sir Otto Kahn-Freund: “…the relation between an employer and an isolated employee or worker is typically a relation between a bearer of power and one who is not a bearer of power. In its inception it is an act of submission, in its operation it is a condition of subordination, however much the submission and the subordination may be concealed by the indispensable figment of the legal mind known as the 'contract of employment'. The main object of labour law has been, and I venture to say will always be a countervailing force to counteract the inequality of bargaining power which is inherent and must be inherent in the employment relationship.”
Notes: submission – подчинение, subordination – зависимость, подчиненность, indispensable – обязательный, countervailing force – компенсирующая сила.
Draft your own Employment Agreement using active vocabulary of the text.
UNIT 5. Check Yourself
Translate the following Individual Employment Agreement (the text of the Agreement is taken from: http://www.yourfreelegalforms.com/item_594/Employment-Agreement.html)
Employment Agreement, between __________________________ (the "Company") and ______________________________ (the "Employee").
1. For good consideration, the Company employs the Employee on the following terms and conditions.
2. Term of Employment. Subject to the provisions for termination set forth below this agreement will begin on __________, 20____, unless sooner terminated.
3. Salary. The Company shall pay Employee a salary of $___________ per year, for the services of the Employee, payable at regular payroll periods.
4. Duties and Position. The Company hires the Employee in the capacity of ________________________. The Employee's duties may be reasonably modified at the Company's discretion from time to time.
5. Employee to Devote Full Time to Company. The Employee will devote full time, attention, and energies to the business of the Company, and, during this employment, will not engage in any other business activity, regardless of whether such activity is pursued for profit, gain, or other pecuniary advantage. Employee is not prohibited from making personal investments in any other businesses provided those investments do not require active involvement in the operation of said companies.
6. Confidentiality of Proprietary Information. Employee agrees, during or after the term of this employment, not to reveal confidential information, or trade secrets to any person, firm, corporation, or entity. Should Employee reveal or threaten to reveal this information, the Company shall be entitled to an injunction restraining the Employee from disclosing same, or from rendering any services to any entity to whom said information has been or is threatened to be disclosed, the right to secure an injunction is not exclusive, and the Company may pursue any other remedies it has against the Employee for a breach or threatened breach of this condition, including the recovery of damages from the Employee.
7. Reimbursement of Expenses. The Employee may incur reasonable expenses for furthering the Company's business, including expenses for entertainment, travel, and similar items. The Company shall reimburse Employee for all business expenses after the Employee presents an itemized account of expenditures, pursuant to Company policy.
8. Vacation. The Employee shall be entitled to a yearly vacation of _____ weeks at full pay.
9. Disability. In the event that the Employee cannot perform the duties because of illness or incapacity for a period of more than _____ weeks, the compensation otherwise due during said illness or incapacity will be reduced by ______ percent. The Employee's full compensation will be reinstated upon return to work. However, if the Employee is absent from work for any reason for a continuous period of over _____ months, the Company may terminate the Employee's employment, and the Company's obligations under this agreement will cease on that date.
10. Termination of Agreement. Without cause, the Company may terminate this agreement at any time upon ____ days' written notice to the Employee. If the Company requests, the Employee will continue to perform his/her duties and may be paid his/her regular salary up to the date of termination. In addition, [select desired option:] ____ the Employee shall not receive severance allowance, OR ____ the Company shall pay the Employee on the date of the termination a severance allowance of $___________________ less taxes and social security required to be withheld.
Without cause, the Employee may terminate employment upon ______ days' written notice to the Company. Employee may be required to perform his or her duties and will be paid the regular salary to date of termination but shall not receive severance allowance. Notwithstanding anything to the contrary contained in this agreement, the Company may terminate the Employee's employment upon ______ days' notice to the Employee should any of the following events occur:
(a) The sale of substantially all of the Company's assets to a single purchaser or group of associated purchasers; or
(b) The sale, exchange, or other disposition, in one transaction of the majority of the Company's outstanding corporate shares; or
(c) The Company's decision to terminate its business and liquidate its assets; or
(d) The merger or consolidation of the Company with another company; or
(e) Bankruptcy or chapter 11 reorganization.
11. Death Benefit. Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.
12. Restriction on Post Employment Compensation. For a period of ________ years after the end of employment, the Employee shall not control, consult to or be employed by any business similar to that conducted by the company, either by soliciting any of its accounts or by operating within Employer's general trading area.
13. Assistance in Litigation. Employee shall upon reasonable notice, furnish such information and proper assistance to the Company as it may reasonably require in connection with any litigation in which it is, or may become, a party either during or after employment.
14. Effect of Prior Agreements. This Agreement supersedes any prior agreement between the Company or any predecessor of the Company and the Employee, except that this agreement shall not affect or operate to reduce any benefit or compensation inuring to the Employee of a kind elsewhere provided and not expressly provided in this agreement.
15. Settlement by Arbitration. Any claim or controversy that arises out of or relates to this agreement, or the breach of it, shall be settled by arbitration in accordance with the rules of the American Arbitration Association. Judgment upon the award rendered may be entered in any court with jurisdiction.
16. Limited Effect of Waiver by Company. Should Company waive breach of any provision of this agreement by the Employee, that waiver will not operate or be construed as a waiver of further breach by the Employee.
17. Severability. If, for any reason, any provision of this agreement is held invalid, all other provisions of this agreement shall remain in effect. If this agreement is held invalid or cannot be enforced, then to the full extent permitted by law any prior agreement between the Company (or any predecessor thereof) and the Employee shall be deemed reinstated as if this agreement had not been executed.
18. Assumption of Agreement by Company's Successors and Assignees. The Company's rights and obligations under this agreement will inure to the benefit and be binding upon the Company's successors and assignees.
19. Oral Modifications Not Binding. This instrument is the entire agreement of the Company and the Employee. Oral changes have no effect. It may be altered only by a written agreement signed by the party against whom enforcement of any waiver, change, modification, extension, or discharge is sought.
Signed this _____ day of _____________________ 20_____.
___________________________________
Employee's Signature
___________________________________
Printed Name
___________________________________
Company Representative's Signature
___________________________________
Printed Name
Draft your own Individual Employment Agreement.
PART V
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