Minnesota 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 Minnesota Sample Employment Agreement This Minnesota Sample Employment Agreement outlines the terms and conditions of employment between Velocity, Inc. and the Executive Vice President and Chief Financial Officer (CFO). The agreement is intended to establish a clear understanding of the rights and responsibilities of both parties involved. Key Keywords: Minnesota, Sample Employment Agreement, Velocity, Inc., Executive Vice President, Chief Financial Officer 1. Introduction: The agreement starts with an introduction section that outlines the parties involved and their respective roles within the company. It should state that Velocity, Inc. is a company incorporated in Minnesota and the CFO will serve as the Executive Vice President and oversee the financial operations. 2. Position and Duties: This section details the responsibilities and duties of the Executive Vice President and CFO. It should outline the CFO's role in strategic financial planning, budgeting, financial reporting, risk management, and compliance with relevant laws and regulations. 3. Compensation and Benefits: The agreement should specify the CFO's salary, bonuses, stock options, and any other benefits they are entitled to. It should also include information on vacation time, sick leave, healthcare coverage, and retirement plans. 4. Term and Termination: This section defines the duration of the employment agreement and the rights of both parties to terminate the agreement. It should outline conditions under which termination may occur, such as misconduct, resignation, or changes in company ownership. 5. Confidentiality and Non-Disclosure: To protect the company's sensitive information, this section should outline the CFO's obligation to maintain confidentiality regarding trade secrets and proprietary information. It may also include provisions for non-disclosure of company data even after termination of employment. 6. Non-Compete and Non-Solicitation: The agreement may include clauses that restrict the CFO from engaging in competitive activities during and after their employment with Velocity, Inc. It should also cover the non-solicitation of clients, employees, or suppliers for a specified period. 7. Intellectual Property: This section states that any inventions, designs, patents, copyrights, or trademarks created by the CFO during their employment with Velocity, Inc. shall be the sole property of the company. 8. Governing Law and Venue: As this is a Minnesota Sample Employment Agreement, it should include a clause stating that the agreement is governed by the laws of the state of Minnesota. It should also specify the venue for any disputes or litigation arising from the agreement. Alternative Types of Minnesota Sample Employment Agreements: 1. Minnesota Sample Executive Employment Agreement: This variation of the employment agreement is specifically designed for high-level executives, outlining their unique roles and responsibilities within the company. 2. Minnesota Sample Non-Executive Employment Agreement: This employment agreement is for employees who are not in an executive role, such as managers or individual contributors. It focuses on the specific job responsibilities and compensation terms for non-executive staff. 3. Minnesota Sample Change in Control Agreement: This specialized agreement is triggered when a change in control occurs within the company, such as a merger or acquisition. It outlines the rights and protections provided to the CFO in such situations. In conclusion, these Minnesota Sample Employment Agreements between Velocity, Inc. and its Executive Vice President and Chief Financial Officer ensure a comprehensive understanding of the terms, rights, and obligations governing their working relationship.

Minnesota Sample Employment Agreement This Minnesota Sample Employment Agreement outlines the terms and conditions of employment between Velocity, Inc. and the Executive Vice President and Chief Financial Officer (CFO). The agreement is intended to establish a clear understanding of the rights and responsibilities of both parties involved. Key Keywords: Minnesota, Sample Employment Agreement, Velocity, Inc., Executive Vice President, Chief Financial Officer 1. Introduction: The agreement starts with an introduction section that outlines the parties involved and their respective roles within the company. It should state that Velocity, Inc. is a company incorporated in Minnesota and the CFO will serve as the Executive Vice President and oversee the financial operations. 2. Position and Duties: This section details the responsibilities and duties of the Executive Vice President and CFO. It should outline the CFO's role in strategic financial planning, budgeting, financial reporting, risk management, and compliance with relevant laws and regulations. 3. Compensation and Benefits: The agreement should specify the CFO's salary, bonuses, stock options, and any other benefits they are entitled to. It should also include information on vacation time, sick leave, healthcare coverage, and retirement plans. 4. Term and Termination: This section defines the duration of the employment agreement and the rights of both parties to terminate the agreement. It should outline conditions under which termination may occur, such as misconduct, resignation, or changes in company ownership. 5. Confidentiality and Non-Disclosure: To protect the company's sensitive information, this section should outline the CFO's obligation to maintain confidentiality regarding trade secrets and proprietary information. It may also include provisions for non-disclosure of company data even after termination of employment. 6. Non-Compete and Non-Solicitation: The agreement may include clauses that restrict the CFO from engaging in competitive activities during and after their employment with Velocity, Inc. It should also cover the non-solicitation of clients, employees, or suppliers for a specified period. 7. Intellectual Property: This section states that any inventions, designs, patents, copyrights, or trademarks created by the CFO during their employment with Velocity, Inc. shall be the sole property of the company. 8. Governing Law and Venue: As this is a Minnesota Sample Employment Agreement, it should include a clause stating that the agreement is governed by the laws of the state of Minnesota. It should also specify the venue for any disputes or litigation arising from the agreement. Alternative Types of Minnesota Sample Employment Agreements: 1. Minnesota Sample Executive Employment Agreement: This variation of the employment agreement is specifically designed for high-level executives, outlining their unique roles and responsibilities within the company. 2. Minnesota Sample Non-Executive Employment Agreement: This employment agreement is for employees who are not in an executive role, such as managers or individual contributors. It focuses on the specific job responsibilities and compensation terms for non-executive staff. 3. Minnesota Sample Change in Control Agreement: This specialized agreement is triggered when a change in control occurs within the company, such as a merger or acquisition. It outlines the rights and protections provided to the CFO in such situations. In conclusion, these Minnesota Sample Employment Agreements between Velocity, Inc. and its Executive Vice President and Chief Financial Officer ensure a comprehensive understanding of the terms, rights, and obligations governing their working relationship.