EXHIBIT 10.3
EMPLOYMENT AGREEMENT WITH XXXXX XXXX DATED JANUARY 1, 2005
PRIVATE & CONFIDENTIAL
Xx. Xxxx Xxx Xxxx [HKID: K 127 604 (2)] Date: 1 January 2005
Dear Xx. Xxxx,
LETTER OF APPOINTMENT
We are pleased to confirm your employment with Titanium Technology Limited on
the terms and conditions under listed: -
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Position Chief Operation Officer
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Monthly Salary HK$30,000
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Mode Permanent
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Working Hours 9:00 to 18:00 (5 1/2 days)
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Commencement 1 Jan, 2005
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TERMINATION:
Your appointment may be terminated by either party at any time without cause
assigned by giving to the other party two weeks' written notice, or on payment
of two weeks' salary.
ANNUAL LEAVE:
In addition to the gazette general holidays, you will be eligible for paid leave
at the rate of one day's leave for every completed month of service subject to
your completion of at least 3 months' service from the date of assumption of
duty. Such leave shall be taken during the above appointment period but shall
not be included as part of the period of notice of termination of service. Any
untaken leave shall lapse automatically upon expiry of the above appointment
period and cannot be encashed.
SICK LEAVE (APPLY TO PERMANENT STAFF ONLY):
Employees who apply for sick leave must produce a medical certificate issued by
a registered medical practitioner, certificates issued by Chinese Herbalists or
Bonesetters will not be accepted.
PERSONAL LEAVE:
Employees who apply for personal leave should submit their application at least
two days in advance; salary will be deducted for personal leave.
SALARY REVIEW (APPLY TO PERMANENT STAFF ONLY):
Your salary will be reviewed once a year on 1st January. No salary increment
will be granted or back paid upon submission of resignation.
TRANSFER:
The employee agreed and accepted to be transferred to other
departments/companies for work or at the position of the Company in such other
capacity as the Company shall reasonably consider to be within the scope of the
employee's capabilities.
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OVERTIME:
The employee may be required to work overtime to cover peaks of workload or
ad-hoc basis. The employee is willing to accept such arrangement and you will
have no payment of allowance or leave in lieu in respect of overtime work.
NON-COMPETITIVE
Without the prior written consent of Titanium Technology Limited, for a period
of twelve (12) months from the date of their leaving the employment of Titanium
Technology Limited or any of its subsidiaries:
a) Be engaged or interested in any capacity in any business whose activities
are substantially similar to or compete with any of the business
activities of Titanium Technology Limited or any of its subsidiaries; or
b) Be involved in any projects or products handled or produced by
Titanium Technology Limited or its subsidiaries; or
c) Deal with any existing customer of Titanium Technology Limited or any of
its subsidiaries.
OTHERS:
You will not be eligible for any other benefits except those mentioned above and
those in accordance with the Employment Ordinance.
Any and all industrial property rights including patent to which you are or may
be entitled or which are created as a result of your services under this
agreement shall belong to and be the exclusive property of Titanium Technology
Limited.
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We should now be grateful if you would, as soon as possible, indicate your
acceptance of this offer of appointing by signing and returning
Yours sincerely,
Xxxxxx Xxxx
Human Resources Manager
BT/JN
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To: Human Resources Manager, Titanium Technology Limited
I accept this offer of appointment as embodied in the terms set out above.
Yours faithfully,
Signature :
Name :
Date :
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