EMPLOYMENT AGREEMENT
Xxxxxxx
Xxxx
1
Entered
into by and between
|
name:
|
Vidatech
Technológiai Kutató, Fejlesztő és Szolgáltató
Kft.
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|
head
office:
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X-0000
Xxxxxxxx, Soroksári út 94-96.
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company
registration No.:
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00-00-000000
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tax
No.:
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13
72 76 26 - 2 - 43
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bank
account No.:
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10
10 41 67 - 57 30 27 00 - 01 00 00
03
|
|
represented
by:
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XXX
Xxxxxx
|
as
Employer (hereinafter: „Employer”), on the one
hand,
and
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name:
|
XXXX
Xxxxxxx
|
|
residential
address:
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1054
Budapest, Xxxxxx Xxxx u. 22.
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mother’s
name:
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XXXXX
Xxxxxx
|
|
tax
No.:
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8416862478
|
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social
security No.:
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000000000
|
as
Employee (hereinafter: „Employee”), on the
other hand, (referred to hereinafter as collectively as „Contracting
Parties”)
at
the
place and date stated below, under the following terms and
conditions.
§
1
JOB
1.1.
The
Employer employs the Employee as Chief Accounting Officer.
1.2.
The
job of the Employee includes particularly the fulfilment of the following
tasks:
|
|
·
|
The
Chief Accounting Officer manages the economic, financial and accounting
work of the Company.
|
The
detailed description of the tasks belonging to the job of the Employee is
contained in the Job Description attached to this Agreement. The Job Description
forms the inseparable part of this Agreement (Annex No.
1).
§
2
TERM
OF THE AGREEMENT
2.1.
The Contracting Parties conclude the employment for an indefinite period
of
time.
2.2.
The commencement of the employment is the day of taking on work by the Employee,
i.e.:
|
·
|
24
October 2007
|
§
3
PROBATION
PERIOD
The
Contracting Parties agree on a probation period of
30days. During the period of probation both
the Employee and the Employer may terminate the employment with immediate
effect, without cause.
§
4
WAGE
4.1.
The gross monthly personal basic wage is HUF
415,000, say Four hundred and fifteen thousand Forints. The
basic
wage will always be paid to the Employee until the 5th day of
the month
following the subject month, after the deduction of the statutory taxes and
contributions.
2
4.2.
In
any other issues not regulated in this Clause the provisions set forth in
Sections 141 to 153 of the Labour Code shall be governing, on the basis of
Section 76 (7) (b) and Section 76/B (1) of Act XXII of 1992 on the Labour
Code.
§
5
PLACE
OF THE PERFORMANCE OF WORK
The
Employee shall perform the work primarily at the head office of the Employer.
The Employee agrees that, according to the characteristics of her job, she
shall
also perform work at places other than the head office of the
Employer.
§
6
WORKING
TIME
The
weekly working time is 40 xxxxx.Xx any other issues not regulated
in this Clause the provisions set forth in Sections 117 to 129 of the Labour
Code shall be governing, on the basis of Sections 76 (7) (a) and Section
76/B
(1) of the Labour Code.
§
7
ORDINARY
PAID LEAVE
The
Employee is entitled to annual paid leave according to the Labour Code. In
any
other issues not regulated in this Clause the provisions set forth in Sections
130 to 136 of the Labour Code shall be governing, according to Section 76
(7)
(e) and Section 76/B (1) of the Labour Code.
§
8
TERMINATION
|
8.1.
|
Both
the Employer and the Employee are entitled to terminate the employment
by
30-day ordinary notice. The Employer shall give cause for its termination.
For the notice period the provisions set forth in Sections 92 to
94 of the
Labour Code shall be governing, on the basis of Sections 76 (7)
(f) and
Section 76/B (1) of the Labour Code
|
|
Both
the Employer and the Employee are entitled to terminate the employment
by
extraordinary notice, if the other Contracting Party violates with
intent
or by gross negligence any of her/its material obligations derived
from
this Agreement or displayed a conduct, due to of which the continuation
of
the employment became impossible.
|
§
9
EXERCISE
OF EMPLOYER’S RIGHTS
The
employer’s rights shall be exercised by Viktor Rozsnyay, President & Chief
Executive Officer.
§
10
CONFIDENTIALITY
The
Employee shall keep the business secrets becoming known to her during the
term
of or in connection with the employment without limitation in time. All
facts, data, information or solutions related to the economic activity of
the
Employer shall qualify as business secret, the confidentiality of which is
in
the economic or other interests to be appreciated of the Employer. The
Employee acknowledges that the violation of her aforementioned obligation
may
serve as basis for her civil law or penal law responsibility, over and above
the
labour law consequences thereof.
3
§
11
COLLECTIVE
BARGAINING AGREEMENT
The
Employer declares that it is not subject to collective bargaining
agreement.
§
12
APPLICABLE
LAW
In
the
issues not regulated in this Agreement the provisions of the Labour Code,
as
well as of other Hungarian legal rules in force from time to time shall be
governing.
§
13
INVALID
PROVISIONS
If
any
provision of this Employment Agreement is or becomes invalid, this shall
not
affect the validity of the other provisions, save for the case, if the
Contracting Parties had not entered into the Employment Agreement without
such
invalid provision. In the event of partial invalidity the statutory provisions
relating to employment shall be applicable mutatis
mutandis.
§
14
AMENDMENT
TO THE EMPLOYMENT AGREEMENT
The
amendment to this Employment Agreement is only valid in writing. Oral agreements
are invalid.
§
15
GENERAL
PROVISIONS
|
15.1.
|
This
Employment Agreement was prepared in 2 counterparts. The Annexes
to the
Employment Agreement form the inseparable part of the
Agreement.
|
|
15.2.
|
This
Employment Agreement was prepared in the Hungarian language. Hungarian
is
the governing language of the Employment
Agreement.
|
Budapest,
24 October 2007
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/s/
Xxxxxxx Xxxx
|
/s/
Xxxxxx Rozsnyay
|
|
Employee
|
President
& CEO
|
4
Annex
No. 1 to the Employment Agreement
JOB
DESCRIPTION
Chief
Accounting Officer
5
Job
Description
Name:
|
|
·
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XXXX
Xxxxxxx
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Position:
|
|
·
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Chief
Accounting Officer
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Direct
superior:
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|
·
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President
& CEO / Vice President &
Secretary
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Her
manager’s tasks:
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|
·
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Perform
the financial supervision of the
Company.
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|
|
·
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Enforce
the objectives and plan tasks, relating to the economic organisation,
of
the Company.
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|
·
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Perform
the aim-setting, planning, organisational, managing, controlling
and
evaluation tasks related to the activity of the economic
organisation.
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|
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·
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Secure
the work conditions and operation of the economic organisation,
develop an
operational information system.
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|
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·
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Draft,
systematise and issue the tasks.
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·
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Manage
the (financial and workforce) resources of the business
association.
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·
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Determine
jobs, elaborate headcount
standards.
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·
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Develop
the division of work best suitable for the fulfilment of tasks,
harmonise
part tasks, regulate the
operations.
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|
|
·
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Elaborate
the incentive system of the economic
organisation.
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|
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·
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Reveal
the operational deficiencies of the economic organisation, improve
the
working method, secure the ability of
development.
|
|
|
·
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Execute
the tasks, relating to the economic field, of the Company’s human
policy.
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|
|
·
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Evaluate
the work of the subordinates.
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|
|
·
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Develop
her qualification and management
methods.
|
Her
professional tasks:
|
|
·
|
The
Chief Accountant Officer manages the economic financial, accounting
and HR
work of the Company.
|
|
|
·
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Promote
the economical operation of the Company and the efficient utilisation
of
the assets thereof, create the conditions necessary for
it.
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·
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Elaborate
the planning and checking system, evaluate the operations and improve
them
on a continuous basis.
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·
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Manage
the planning activity, prepare business
plans.
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·
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Monitor
and evaluate the fulfilment of the
plans.
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·
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Prepare
evaluation.
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|
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·
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Organise,
manage and control the economic, financial, accounting and HR activities
of the Company.
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|
|
·
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Develop
the accounting information system of the Company, supervision of
compliance with discipline regarding the handling of accounting
certificates and vouchers.
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·
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Prepare
the financial statements, compiling the business report for the
management.
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·
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Participate
in the elaboration of development
objectives.
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·
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Ensure
steadily the financial balance of the Company, prepare liquidity
plans,
monitor and evaluate the
implementation.
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·
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Organise
and control the cash flow, arrange bank and credit
matters.
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·
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Manage
the performance of obligations towards the budget and the procedures
of
tax return, tax payment and tax
reclaiming.
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·
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Control
the cost management, elaborate a cost accounting
system.
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·
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Liase
with banks and financial
institutions.
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·
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Provide
for the operation and control of the cash in
hand.
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·
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Prepare
the balance sheet, statement of assets and income statement of
the
Company.
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·
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Provide
for the collection of customer receivables and for the fulfilment
of
suppliers’ payables.
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·
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Provide
for the statistical data supply of the
Company.
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·
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Provide
for the adaptation to the group of companies of the Labour Code
and other
labour provisions and for the fulfilment of the relevant
tasks.
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·
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Provide
for the fulfilment of social security
tasks.
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·
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Prepare
the price plan of the Company.
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6
She
decides on:
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·
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The
development and regulation of the economic, financial, accounting
and HR
processes of the Company, as well as the information system
thereof.
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·
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Collecting
customer debts.
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·
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Execution
tasks of the financial field.
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·
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The
matters of corporate signature referred to her
competence.
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·
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The
employer’s rights referred to her
competence.
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She
prepares decisions on:
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·
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Granting
and withdrawal of right of
remittance.
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·
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The
annual business plan of the
Company.
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·
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The
incentive system of the Company.
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·
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Concluding
contracts.
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·
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Raising
credits.
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She
is responsible for the following:
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·
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Observation
and causing to observe the provisions regulating the tasks and
operation
of the business field.
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·
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Observation
of and causing to observe the working discipline, discipline regarding
the
handling of accounting certificates and vouchers and the deadlines
of the
performance of tasks.
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·
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Workmanlike
fulfilment of and causing to fulfil the work task, genuineness
and
accuracy of information supplies.
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·
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Causing
the employees to understand, observe and execute the laws, other
legal
rules and internal regulations relating to her special
field.
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·
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Success
of the work of the business field, high-standard and effective
fulfilment
of the tasks referred to the scope of
activities.
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·
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Ensuring
cooperation among the organisational units subject to her
management.
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·
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Enforcement
of the interests of the company.
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·
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Keeping
and causing to keep the business secret, observation of the security
measures
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·
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Efficient
contribution to the preservation and increasing of the assets of
the
company.
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·
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Professional
aptitude and development of the employees subject to her
management.
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·
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Good
workplace atmosphere.
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7
She
maintains work relations with:
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·
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The
Vice President & Secretary,
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·
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The
managers of the other organisational units of the group of
companies,
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·
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The
Chief Financial Officer,
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·
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The
Employees of the organisational unit headed by
her,
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·
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The
tax authority,
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·
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Social
security organs,
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·
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Banks,
financial institutions, etc.
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Substitution:
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·
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In
the event of her absence or incapacitation she shall be deputized
for by
the person appointed by the Managing
Director.
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Legal
rules and prescriptions:
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·
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Accounting
Act and other legal rules relating to
accounting.
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·
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Laws
and legal rules relating to
taxation.
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·
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Financial
laws and other legal rules.
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·
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The
Labour Code and other legal rules relating to HR and social
security.
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·
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Prescriptions
of the Central Office of
Statistics.
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·
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Organisational
and operational regulations.
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·
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Job
descriptions and internal regulations relating to her work
field.
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Requirements
related to filling the position:
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·
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University
or college degree in economics or accountancy and
finance,
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·
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Certificate
of clean criminal record,
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·
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Driving
licence category “B”.
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Date
of
entry into force: 24 October 2007
Budapest,
24 October 2007
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Acknowledged
by:
|
Approved
by:
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/s/
Xxxxxxx Xxxx
|
/s/
Xxxxxx Rozsnyay
|
|
Employee
|
President
& CEO
|
8
Annex
No. 2 to the Employment Agreement
INFORMATION
ON THE CONDITIONS LISTED IN SECTION 76 (7) OF THE LABOUR
CODE
The
employment comes into existence by the employment agreement set out in written
form. The parties may agree on any issue in the employment agreement; the
condition of the validity of their agreement is that the employment agreement
may not be contrary to any legal rule or the collective bargaining agreement,
unless it states a condition more favourable for the employee.
In
the
employment agreement the parties shall agree on the personal basic wage,
job and
place of work of the employee. Simultaneously with the conclusion of the
employment agreement the employer shall inform the employee on the
following:
|
|
a)
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guiding
schedule of work,
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b)
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other
elements of the wage,
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|
c)
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day
of wage payment,
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d)
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day
of taking on work,
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e)
|
method
of calculation of the period and delivery of ordinary paid leave,
and
|
|
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f)
|
the
rules of determining the notice period governing for employer and
employee, as well as
|
|
|
g)
|
whether
the employer is subject to a collective bargaining
agreement.
|
Remark
to
§ 2:
The
employment comes into existence for an indefinite period of
time– unless agreed on to the contrary. The period of an employment for a
definite term shall be determined by calendar or in another suitable way.
If the
parties do not determine the period of the employment by calendar, the employer
shall inform the employee on the expectable period of the
employment.
The
employment of definite term shall be transformed into one of indefinite term
if
the employee continues to work after the expiry of the term at least for
one
working day with the knowledge of her direct superior.
Remark
to
§ 7:
The
rate of the basic paid leave is twenty working
days.
|
1.)
|
The
rate of the ordinary paid leave due to the Employee and
the rules of its delivery are contained in Sections 130 to 136
of the
Labour Code.
|
|
|
Basic
paid leave
|
20
working days
|
|
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in
the age of 25
|
+
1
working day 21 working days
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in
the age of 28
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+
1
working day 22 working days
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in
the age of 31
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+
1
working day 23 working days
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in
the age of 33
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+
1
working day 24 working days
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in
the age of 35
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+
1
working day 25 working days
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in
the age of 37
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+
1
working day 26 working days
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in
the age of 39
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+
1
working day 27 working days
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in
the age of 41
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+
1
working day 28 working days
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in
the age of 43
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+
1
working day 29 working days
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in
the age of 45
|
+
1
working day 30 working days
|
The
Employee is entitled to the longer paid leave for the first time in the
year, in which she reaches the higher age.
Supplementary
leave due to the Employee:
|
|
o
|
supplementary
leave due to juveniles: 5 working days before reaching the age
of 18 and
in the year of completing 18 years of
age
|
9
|
|
o
|
On
the basis of the decision of the parents for the parent undertaking
a
bigger role in the bringing-up of his/her child or for the parent
bringing
up his/her child alone, on his/her child(ren) under the age of
16:
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|
|
§
|
for
one child: two,
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|
§
|
for
two children: four,
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|
|
§
|
for
more than two children altogether seven working days per year are
due, for
the last time in the year in which the child(ren) complete(s) its
(their)
16th
year
of age.
|
The
date
of delivering the paid leave will be determined by the
Employer, after hearing the
Employee.
The
Employer is obliged to deliver one quarter of the basic paid
leave – save for the first three months of the employment – at the date
according to the request of the Employee.
The
Employee shall announce her relevant claim no later than
fifteen days before the commencement of the leave.
The
paid
leave shall be delivered in the year of its due date, exceptions are the
illness
of the Employee or a particularly important economic
interest.
The
leave
may be delivered in more than two instalments only at the request of the
Employee.
Remarks
to § 8:
The
employment may be terminated:
|
|
a)
|
with
the common consent of Employer and
Employee;
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|
|
b)
|
by
ordinary notice;
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|
|
c)
|
by
extraordinary notice;
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|
|
d)
|
with
immediate effect during the probation
period.
|
The
agreement or declarations directed to the termination of the employment shall
be
reduced to writing, no deviation therefrom shall be valid.
The
Employer shall reason its notice of termination; the cause of the termination
shall clearly transpire from the reasoning. In case of a dispute the Employer
shall prove the reality and reasonableness of the cause of termination. The
cause of termination may only be a cause related to the capabilities of the
Employee, to her conduct related to the employment or to the operation of
the
Employer.
Notice
period
In
case
of ordinary notice of the Employer or the
Employee the extent of the notice period shall
be:
|
|
o
|
at
least thirty days.
|
The
thirty-day notice period will be extended
|
|
o
|
by
five days after three years
|
|
|
o
|
by
fifteen days after five years
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|
o
|
by
twenty years after eight years
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|
o
|
by
twenty-five days after ten years
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|
|
o
|
by
thirty days after fifteen years
|
|
|
o
|
by
forty days after eighteen years
|
|
|
o
|
by
sixty days after twenty years
|
spent
in
employment with the Employer.
The
Employer shall exempt the Employee from the
performance of work for half of the notice period at the date and in
the instalments according to the request of the Employee. The
Employee is entitled to her average earnings
for the period of
exemption.
10
