Delaware Sample Employment Agreement between Telocity, Inc. and Executive Vice President and Chief Financial Officer

• Category: Corporations - Public - Employment
• State: Multi-State
• Control #: US-EG-9116
• Format: Word; Rich Text

Description

Employment Agreement between Telocity, Inc. and Edward J. Hayes, Jr. as Executive Vice President and Chief Financial Officer dated January 3, 2000. 11 pages Delaware Sample Employment Agreement between Velocity, Inc. and Executive Vice President and Chief Financial Officer: This Delaware Sample Employment Agreement is entered into between Velocity, Inc., a Delaware corporation, hereinafter referred to as "the Company," and [Name], hereinafter referred to as "the Executive," with an effective date of [Date]. 1. Position and Responsibilities: The Executive shall serve as the Executive Vice President and Chief Financial Officer of the Company, reporting directly to the Chief Executive Officer. The Executive's primary responsibility shall be overseeing and managing all financial operations of the Company, including budgeting, financial planning, reporting, and forecasting. 2. Terms of Employment: The initial term of employment shall be for a period of [Number] years, commencing on the effective date. This Agreement may be renewed or extended upon mutual agreement by the Company and the Executive. 3. Compensation and Benefits: The Executive shall receive a base salary of [Amount] per annum, payable in accordance with the Company's standard payroll practices. The Executive shall also be eligible for an annual performance-based bonus as determined by the Board of Directors, subject to the achievement of predetermined objectives. In addition to the salary, the Executive shall be entitled to participate in the Company's benefit plans such as health insurance, retirement plans, and other employee benefits, subject to the terms and conditions of such plans. 4. Termination: This Agreement may be terminated by either party, with or without cause, upon [Number] days' prior written notice. In the event of termination without cause, the Executive shall be entitled to receive [Number] weeks of severance pay, based on the Executive's base salary, as well as the continuation of benefits for a specified period. 5. Confidentiality and Non-Compete: The Executive shall maintain the confidentiality of any proprietary information or trade secrets of the Company and shall not engage in any competitive activities during the term of employment and for a specified period post-termination. 6. Intellectual Property: The Executive shall assign all intellectual property rights, including inventions, patents, copyrights, etc., created or developed during the course of employment to the Company. 7. Governing Law and Jurisdiction: This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. Any disputes arising out of or in connection with this Agreement shall be resolved by arbitration in accordance with the rules of the American Arbitration Association. Additional types of Delaware Sample Employment Agreements between Velocity, Inc. and an Executive Vice President and Chief Financial Officer may include variations in the terms related to compensation, termination, non-compete clauses, and intellectual property rights. Different agreements might also be tailored for executives in specific industries or with unique job responsibilities.

Delaware Sample Employment Agreement between Velocity, Inc. and Executive Vice President and Chief Financial Officer: This Delaware Sample Employment Agreement is entered into between Velocity, Inc., a Delaware corporation, hereinafter referred to as "the Company," and [Name], hereinafter referred to as "the Executive," with an effective date of [Date]. 1. Position and Responsibilities: The Executive shall serve as the Executive Vice President and Chief Financial Officer of the Company, reporting directly to the Chief Executive Officer. The Executive's primary responsibility shall be overseeing and managing all financial operations of the Company, including budgeting, financial planning, reporting, and forecasting. 2. Terms of Employment: The initial term of employment shall be for a period of [Number] years, commencing on the effective date. This Agreement may be renewed or extended upon mutual agreement by the Company and the Executive. 3. Compensation and Benefits: The Executive shall receive a base salary of [Amount] per annum, payable in accordance with the Company's standard payroll practices. The Executive shall also be eligible for an annual performance-based bonus as determined by the Board of Directors, subject to the achievement of predetermined objectives. In addition to the salary, the Executive shall be entitled to participate in the Company's benefit plans such as health insurance, retirement plans, and other employee benefits, subject to the terms and conditions of such plans. 4. Termination: This Agreement may be terminated by either party, with or without cause, upon [Number] days' prior written notice. In the event of termination without cause, the Executive shall be entitled to receive [Number] weeks of severance pay, based on the Executive's base salary, as well as the continuation of benefits for a specified period. 5. Confidentiality and Non-Compete: The Executive shall maintain the confidentiality of any proprietary information or trade secrets of the Company and shall not engage in any competitive activities during the term of employment and for a specified period post-termination. 6. Intellectual Property: The Executive shall assign all intellectual property rights, including inventions, patents, copyrights, etc., created or developed during the course of employment to the Company. 7. Governing Law and Jurisdiction: This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. Any disputes arising out of or in connection with this Agreement shall be resolved by arbitration in accordance with the rules of the American Arbitration Association. Additional types of Delaware Sample Employment Agreements between Velocity, Inc. and an Executive Vice President and Chief Financial Officer may include variations in the terms related to compensation, termination, non-compete clauses, and intellectual property rights. Different agreements might also be tailored for executives in specific industries or with unique job responsibilities.