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Formal Job Offer

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Formal Job Offer

  1. Position

Job title

Your work title at our company will be (job title) and you will be responsible for reporting to the Company’s (supervisor’s job title).

Working Schedule

Your position will require you to come to the office on a (full time or part time) basis which equals to approximately (e.g. 44) every week. Your fixed working schedule will be from (e.g. Tuesday to Saturday 10:00-18:00).

Employment Relationship

The Company does not have a set length of employment. Your employment with the Company will have an “at will” status, which means that you or the Company can end your employment at any time and for any motive, with or without cause. This written agreement overrides any contradictory statements that may have been made to you. On this term, this is the entire agreement between you and the Company. Although your job tasks, title, remuneration, and perks, as well as the Company’s personnel policies and procedures, may change over time, the “at will” aspect of your employment can only be amended in an express written agreement signed by you and a lawfully authorized representative of the company (must be an individual other than you).

  1. Cash Compensation

Salary

Effective [start day], the Company will pay you a starting salary of $[Gross annual salary] each year, payable on the Company’s usual payroll schedule, and you will get your first paycheck on [date] by (time). According to the Company’s employee compensation policy, this remuneration may be adjusted.

Withholding of taxes

All kinds of compensation included in this letter agreement will be reduced to reflect applicable withholding and payroll taxes, as well as other legal deductions.

Tax Advice

You are recommended to seek your own tax advice about the Company’s pay. You acknowledge that the Company is under no obligation to expand any policies to reduce or minimize your tax obligations. Additionally, by signing this agreement, you confirm that you will not start any claims against the company or the Upper Administration/Board of Directors in regards to your tax obligations issuing from your work compensation.

  1. Bonus (or commission) potential

You will also be eligible for a stimulus bonus for each of the Company’s fiscal years. The bonus amount (if any) shall be determined by the Company’s Chief Executive Officer and approved by the Board of Directors based on objective or subjective factors. The amount of your goal bonus will be [percent] of your yearly base salary. Any incentive for the fiscal year in which you start working for the Company will be distributed depending on the number of days you work for the Company during that fiscal year. Any bonus due for a fiscal year will be paid within [number] months of the fiscal year’s end, but only if you are still employed by the Company at the time of remuneration. Your bonus will be determined by the Company’s Board of Directors, and their decisions will be decisive and binding.

  1. Employee Benefits

You will be entitled to participate in a number of Company-sponsored benefits as a regular employee. The Company provides an extensive benefits package to its employees, which includes:

Vacation Policy

Each year, you are qualified for [number] days of paid vacation leave. Paid time off is taken in addition to sick days, holidays, and days when the company is closed.

Private Health and Dental Insurance Plan

You will be eligible for the private health and dental insurance plan that we offer to all Company employees. Specific provisions and conditions may be modified according to the service provider’s decisions.

Stock Options

You will be granted an option to purchase [number] shares of the Company’s or its parent’s Common Stock (the “Option”), subject to the approval of the Company’s Board of Directors or Compensation Committee and following the Company’s adoption of an equity incentive plan. When the Option is granted, the Board of Directors or the Compensation Committee will set the exercise price per share. The Option shall be subject to the terms and provisions set forth in the Company’s Stock Plan (as adopted, the “Plan”) and the applicable Stock Option Agreement for options granted under the agreement. After 12 months of continuing service, you will receive 25% of the Option shares, with the remaining 25% vesting in equal monthly payments over the next 36 months of continued service, as provided in the applicable Stock Option Agreement.

  1. Privacy and Confidentiality Agreements

Privacy Agreement

You must follow and adhere to all of the Company’s privacy policies and procedures, even if they are incorporated or edited from time to time. Employee personal information will be collected, stored, accessed, and disseminated in line with the privacy constitution.

Conflict of Interest Policy

You will not work for any other company while you are employed with us (whether full-time or part-time) that would cause a conflict of interest with the Company while you are engaged here. You affirm that you have no contractual obligations or other legal responsibilities that would prevent you from executing your duties for the Company by signing this letter of agreement.

Proprietary Information and Inventions Agreement

As with all Company employees, you will be required to sign the Company’s standard Proprietary Information and Inventions Agreement as a condition of employment.

  1. Termination Conditions

The Company holds on to the right of terminating an employee’s contract for good reason at any time and without notice or payment in lieu of notice. The Company will have the right to terminate your employment for any reason other than just cause, after giving you the statutory minimum notice period as per the law.

  1. Interpretation, Amendment and Enforcement

This letter agreement overrides and takes precedence over any earlier agreements, statements, or understandings between you and the Company (whether written, oral, inferred, or otherwise) and constitutes your and the Company’s entire agreement about the subject matter set forth herein. Except by an express written agreement signed by both you and a fully authorized officer of the Company, this letter agreement may not be amended or modified.

By signing and dating this agreement by [day the offer expires], you can express your agreement with these terms and accept this offer. [Company name] will provide you with the relevant documentation and I will confirm this job offer once you accept it.

Sincerely,

(Sender name)

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