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 this 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. AFull productive time" is hereby defined as that 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
hour. 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 compensation, SGI Warrants in an 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) Compensation 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: /s/ Xxxxxxxx Xxxx
------------------------------- ------------------------
Xxxxxxxx X. Xxxx, Employee
President
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