North Dakota Sample Employment Agreement between Velocity, Inc. and President and Chief Executive Officer: This Sample Employment Agreement is created to outline the terms and conditions of the employment relationship between Velocity, Inc. (hereinafter referred to as "the Company") and the President and Chief Executive Officer (hereinafter referred to as "the CEO"). 1. Employment Position and Duties: a. The CEO shall serve as the President and Chief Executive Officer of the Company. b. The CEO shall be responsible for overseeing the day-to-day operations, leading strategic decision-making, and representing the Company in all external affairs. c. The CEO shall report to the Company's Board of Directors and shall carry out their reasonable directives. 2. Term of Employment: a. The initial term of this agreement shall be [start date] to [end date]. b. Following the initial term, the CEO's employment shall automatically renew for consecutive one-year terms, unless either party gives written notice of non-renewal at least [notice period] prior to the end of the current term. 3. Compensation and Benefits: a. The CEO shall receive a base salary of $[amount] per annum, payable in regular installments. b. The CEO shall be eligible for an annual performance bonus, subject to the Company's performance and individual objectives. c. The CEO shall receive [describe other benefits, such as health insurance, retirement plans, etc.] as per the Company's policies. 4. Employee's Obligations: a. The CEO shall devote their full-time attention and efforts to the Company's business and shall not engage in any other substantial business activities without the Board of Director's consent. b. The CEO shall act in the best interests of the Company, avoiding any conflict of interest and complying with all applicable laws, regulations, and the Company's code of conduct. 5. Confidentiality and Non-Disclosure: a. The CEO shall maintain strict confidentiality with regard to the Company's proprietary and confidential information. b. The CEO shall not disclose, use, or exploit any confidential information for their personal benefit or the benefit of any third party, during or after their employment period. 6. Termination: a. The employment may be terminated at any time by either party for "Cause" as defined in this agreement. b. The CEO may terminate the employment for "Good Reason" as defined in this agreement, subject to certain notice requirements. c. Upon termination or non-renewal of the employment, the CEO shall return all company property and cease using any proprietary information. Different types of North Dakota Sample Employment Agreements between Velocity, Inc. and President and Chief Executive Officer could include variations based on executive compensation structures, termination clauses, non-compete agreements, and provisions for equity-based compensation. These additional agreements may require specific legal language to comply with North Dakota employment laws and regulations.
North Dakota Sample Employment Agreement between Telocity, Inc. and President and Chief Executive Officer
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