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Document Preview Employment Agreement |
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Title: |
Employment Agreement |
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Entities: |
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Date: |
2006 |
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Size: |
Preview shows 6KB of 35KB total |
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Price: |
$37 |
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ID: |
#837418 |
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EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this Agreement) is entered into as of [INSERT DATE OF AGREEMENT], by and between Corinthian Colleges, Inc., a Delaware corporation (the Company), and [INSERT NAME OF EMPLOYEE] (Employee).
WITNESSETH:
WHEREAS, the Company and Employee desire to enter into this Agreement to assure the Company of the continuing and exclusive service of Employee and to set forth the terms and conditions of Employees employment with the Company.
AGREEMENT:
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties agree as follows:
| 1. | TERM. The Company agrees to employ Employee and Employee hereby accepts such employment, in accordance with the terms of this Agreement, commencing on the date of this Agreement (the Effective Date) and continuing for a period of two (2) years hereafter (the Term), subject to earlier termination under Section 5 or extension of such term as described in the next sentence. Unless either party has given advanced written notice to the other party that the Term shall not be extended (or further extended, as the case may be), then (1) upon the first anniversary of the Effective Date the Term shall automatically be extended by an additional year (such that the Term shall be scheduled to terminate on the third anniversary of the Effective Date), and (2) upon the second and each successive anniversary of the Effective Date the Term shall automatically be extended by an additional year; provided, however, that in no event shall the Term exceed a period of five (5) years. Provision of notice that this Agreement shall not be extended or further extended, as the case may be, shall not constitute breach of this Agreement or entitle the Employee to any benefits described in Section 5. |
| 2. | SERVICES AND EXCLUSIVITY OF SERVICES. During the Term of this Agreement, Employee shall devote Employees full business time, energy and ability exclusively to the business, affairs and interests of the Company and matters related thereto, shall use Employees best efforts and abilities to promote the Companys interests and shall perform the services contemplated by this Agreement in accordance with policies established by and under the direction of the Board of Directors of the Company (the Board) and the chief executive officer of the Company [or such other executive officer of the Company as the Chief Executive Officer shall determine from time to time] (the Senior Officer). |
Employee shall not, directly or indirectly, during the term of this Agreement render services to any other person or firm for compensation or engage in any activity competitive with or adverse to the Companys business. Employee may serve as a director or in any other capacity of any business enterprise or any nonprofit or governmental entity or trade association, provided in each case that such service is approved by the Board or the Senior Officer. Notwithstanding the foregoing, Employee may make and manage personal business investments of Employees choice and serve in any capacity with any civic, educational or charitable organization (other than as a director of such organization, approval for which may be sought under the immediately preceding sentence of this Section 2) without seeking the approval of the Senior Officer, provided that such activities and services do not interfere or conflict with the performance of the duties hereunder or create any conflict of interest with such duties.
| 3. | DUTIES AND RESPONSIBILITIES. Employee shall serve as [INSERT EMPLOYEES TITLE] of the Company for the Term of this Agreement. In the performance of Employees duties, Employee shall report directly to the Senior Officer of the Company and shall be subject to the direction of the Senior Officer and to such limits on Employees authority as the Senior Officer may from time to time impose. During the term of this Agreement, Employee shall be based at the Companys principal executive offices in Orange County, California. Employee agrees to observe and comply with the rules and regulations of the Company and agrees to carry out and perform orders, directions and policies of the Company and its Board as they may be, from time to time, stated either orally or in writing. The Company agrees that the duties which may be assigned to Employee shall be usual and customary duties of the office(s) or position(s) to which Employee may from time to time be appointed or elected and shall not be inconsistent with the provisions of the charter documents of the Company or applicable law. Employee shall have such corporate power and authority as shall reasonably be required to enable Employee to perform the duties required in any office that may be held. |
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