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POWER HOLDINGS COMPANY 0F NIGERIA CONTRACT AGREEMENT

POWER HOLDINGS COMPANY 0F NIGERIA CONTRACT AGREEMENT

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Published by ArnelCorpuz
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Published by: ArnelCorpuz on Nov 23, 2010
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07/30/2014

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-----------------------------------------------------------------------------------------------
 
TERMS OF AGREEMENT
 
THIS AGREEMENT made and entered on the
24
th
day of May 2007 
 
,by and between POWER HOLDINGS COMPANY of NIGERIA,hereinafter “PHCN” and Applicant.
 
WHEREAS, Applicant is prepared to enter into an employment agreement with
PHCN
and give
PHCN
the assurance it desires, and
PHCN
is of desirous obtaining the servicesof Applicant as an employee;
 
 NOW THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth, the parties hereto agree as follows;
 
1.
PHCN
agrees to, and hereby does employ Applicant as
 Electrical Safety Engineer 
 
, andApplicant accepts said employment and agrees, during the term hereof, to dischargefaithfully, diligently and to the best of his or her ability, the responsibilities of 
 Electrical  Safety Engineer 
 
and to perform such substitutive or additional duties as
PHCN
mayrequest from time to time. Such services maybe performed in whole or in part at thediscretion of 
PHCN.
 
2. During the period commencing on the30
th
J
 
uly 2007
 
, and unless sooner terminated as provided herein, continuing through Applicant will serve as a regular employee on a full-time basis, subject to the other provisions and conditions of this Agreement.
 
3. As compensation and consideration for such performance of such services and theobservance of all the provisions of this Agreement,
PHCN
agrees to pay Employee, andEmployee agrees to accept the following amount and benefits;
 
 
a) Salary at the rate of US$18,920.00 (
 
Eighteen Thousand Nine hundred and Twenty UnitedStates Dollars) per month, such salary increases and such other and further benefits as
PHCN
may designate.
 
 b) A bonus to be established by
PHCN
, which will be based upon the meeting of salesquotas to be set from time to time.
PHCN
shall reimburse Employee for all ordinary andnecessary expenses which have been approved in advance by
PHCN
.
 
This Agreement embodies the entire understanding of the partieshereto and any prior representation or arrangements are herebysuperseded.
 
ATTESTATION
 
AS WITNESS, the hands of the duly authorized representatives of the parties, the day and year first above written;
 
SIGN BY:
 
DR. MUSA MOHAMMED
 
HR DEPT MANAGER -----------------------------------------
 

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