THIS EMPLOYMENT AGREEMENT (the Employment Agreement), dated as of this _________,_________,_________(M/D/Y), is entered into by and among AAA Corporation (the Company or Employer) and BBB (Executive). In consideration of the mutual covenants and agr THIS EMPLOYMENT AGREEMENT (the "Employment Agreement"), dated as of this _________,_________,_________(M/D/Y), is entered into by and among AAA Corporation (the "Company" or "Employer") and BBB ("Executive"). In consideration of the mutual covenants and agreements hereinafter set forth, the parties agree as follows: 1. EMPLOYMENT. 1.1. POSITION. During the Employment Term (as hereinafter defined) and subject to the terms and conditions set forth herein, the Company agrees to employ Executive as its Chief Executive Officer reporting to the Board of Directors of the Company. 1.2. DUTIES. Executive shall diligently, and to the best of his ability, perform all such duties incident to his positions and use his best efforts to promote the best interests of the Company. 1.3. TIME TO BE DEVOTED TO EMPLOYMENT. During the Employment Term, Executive shall devote his full time and energy to the business of the Company and shall not be engaged in any competitive business activity without the express written consent of the Company. Executive hereby represents that he is not a party to any agreement which would be an impediment to entering into this Employment Agreement and that he is permitted to enter into this Employment Agreement and perform his obligations hereunder. 2. COMPENSATION AND BENEFITS. 2.1. ANNUAL SALARY. In consideration of and as compensation for the services agreed to be performed by Executive hereunder, the Company agrees to pay Executive commencing on th...
