EMPLOYEE BONUS AGREEMENT
- PURPOSE
The purpose of this Employee Bonus Agreement is to provide incentives and rewards for the employees of Casa De Santos (hereinafter called the “Company”).
The Agreement aims to provide employees who are working with us for more than 6 months with a financial interest in the profitability for the Company and to reward long term employment with the Company.
- EFFECTIVE DATE
The Agreement shall be effective as of June 10, 2021.
- ELIGIBLE EMPLOYEES
All employees who have worked for the Company for more than 6 months are eligible for bonuses from the Company. In case an employee leaves before the lapse of 6 months, he/she will forfeit their wages.
- CONSIDERATION
In consideration of the services and loyalty provided by the Employee to the Company, the Employee will be paid $ 1,000 bonus.
- TERMINATION
The Agreement will be effective for 180 days from June. However, this Agreement may be terminated if the leasing Company refuses to grant Casa De Santos the lease or if the Seller fails to furnish the previous year’s taxes and all sale reports within 5 days of signing. Additionally, the Agreement may be terminated by an Employee’s death or incapacity to work due to illness and other factors.
- CONFIDENTIALITY, NON-CIRCUMVENTION AND NON-DISCLOSURE AGREEMENT
All Parties agree that all information received from any other Party shall be used for the collective good of the transaction between the Parties and is not to be used in any way to: circumvent, eliminate, reduce or in any way diminish the role of another Party; capitalize on, leverage, or in any way benefit individually and separately over the another Party from or by the use of said information outside of the spirit and purpose of this joint venture between the Parties; compete directly or indirectly with another Party. The intent is that recipient by receiving confidential information including customer lists, etc. from the disclosing Party will not use of said information to compete with or circumvent the disclosing Party. Any current, past and future transaction shall not be disclosed to any third party.
- DISPUTE RESOLUTION
Any disputes arising between the Employee and the Company will be handled by an Attorney and CPA. Any creative or functional orders of business are 100% reliant on the majority owner’s discretion.
- GOVERNING LAW
This Agreement shall be governed and construed according to the laws of the State of California.
- ENTIRETY
This Agreement embodies the full understanding and agreement between the Parties and shall supersede all other understandings, verbal or written. All statements, undertakings and representations are made without omission of any material fact, with personal, corporate and legal responsibility.
IN WITNESS WHEREOF, the Parties execute the agreement as follows:
Name: _____________________________
Signature: _________________________
Date: _____________________________
Name: _________________________
Signature: _________________________
Date: ________________________
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