EXHIBIT 4.7
FORM OF EMPLOYMENT AGREEMENT
This EMPLOYMENT AGREEMENT ("Agreement") is effective as of this 25th day of
July, 1996 (the "Effective Date"), by and between Assembly Manufacturing Systems
Inc., a California Corporation ("AMS"), and , an individual ("Employee").
In consideration of the mutual agreements and the promises herein contained, the
parties hereto agree as follows:
1. Employment. AMS hereby employs Employee and Employee hereby accepts
employment with AMS on the terms and conditions set_____________ forth in
the Agreement.
2. Term of Employment. The term of this Agreement shall commence on the
Effective Date and continue until terminated, which _________ may be done by
either party at any time on fourteen (14) days written notice to the other
party.
3. Duties. Employee shall devote his full productive time to the duties
assigned to him. "Full productive time" is hereby defined as the time
reasonably necessary to perform his required duties in a timely manner, but not
less than forty (40) hours per week, for fifty-two (52) weeks per year, less
holidays, sick leave, and vacation time in accordance with the then-prevailing
policies of AMS. Employee's performance shall be reviewed at least annually by
AMS.
4. Compensation. In consideration of Employee's performing the duties described
herein, AMS agrees to compensate employee at ________the rate of ( ) per year.
Employee shall also be covered by AMS's Group Medical ------ ---- Insurance,
and such other group benefits granted to employees pursuant to the then
prevailing policies of AMS.
Employee shall also receive:
(a) As incentive compensation, such bonuses and benefits as AMS's Board of
Directors, in its sole discretion, shall determine.
(b) As further incentive compensations, SGI Warrants in the amount to be
decided in the sole discretion of SGI's Board of Directors.
(c) Reimbursement of reasonable business expenses incurred by Employee in
accordance with AMS's policies.
(d) Compensations shall be reviewed by AMS and Employee at least annually.
5. Integration. This Agreement shall not be modified or amended, except by a
writing signed by both parties.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed at Simi Valley, California.
ASSEMBLY & MANUFACTURING SYSTEMS INC. EMPLOYEE
0000 Xxxxxx Xxx
Xxxx Xxxxxx, XX 00000
By:-------------------------------- ------------------
Amir M-Khiabani
President
