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Exhibit
10.1
Employment
Agreement
between
ACE Limited
Ace Global Headquarters, 17 Woodbourne
Avenue, Hamilton HM 08, Bermuda
(as from 15 July 2008:
Mainaustrasse 30, 8008 Zürich) 1
as
Employer
and
[insert name and
address
of employee]
as
Employee
R
ECITALS
The Employer and the Employee wish to
enter into an Employment Agreement setting forth the terms and
conditions of employment and the rights and the obligations of each
party.
Now, therefore, the parties
agree on this employment agreement (the “Agreement”) in
accordance with art. 319 et. seq. of the Swiss Code of Obligations
(“CO”) 2 as
follows.
| 1 |
If this Agreement is with a subsidiary of the Company,
substitute name and address of such subsidiary |
| 2 |
If this Agreement is with a subsidiary of the Company that is
not Swiss, modify this reference. |
T ABLE
OF CONTENTS
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I.
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P OSITION AND D
UTIES OF E
MPLOYEE |
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3 |
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1.
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Position/Responsibilities |
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3 |
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2.
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Availability |
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3 |
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3.
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Duty of
Care and Loyalty |
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4 |
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4.
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Location
of Employment |
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4 |
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5.
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Working
Hours |
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4 |
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6.
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Business
Secrets |
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4 |
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7.
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Return of
Documents |
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5 |
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II.
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D UTIES OF THE E
MPLOYER |
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5 |
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8.
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Compensation |
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5 |
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9.
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Expenses |
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5 |
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10.
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Social
Security, Tax and Insurance |
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5 |
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11.
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Vacation
and Holidays |
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6 |
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III.
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T ERM AND T
ERMINATION |
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6 |
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IV.
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M ISCELLANEOUS |
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6 |
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12.
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Severability |
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6 |
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13.
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Entire
Agreement and Amendments |
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7 |
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14.
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Counterparts |
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7 |
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15.
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Governing
Law |
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7 |
2
| I. |
P OSITION AND D
UTIES OF E
MPLOYEE |
| 1. |
Position/Responsibilities |
The Employee shall be
appointed [insert title] of the Employer. The Employee will perform
[insert a brief job description consistent with current
responsibilities 3 ].
Employee will be able to start work and this Agreement will only
become effective, upon receipt of any applicable work and residence
permits. The Agreement will only be in effect as long as the
respective authorities approve renewals of the permits.
The Employee shall
exclusively be employed by and available for the Employer on a full
time basis.
The Employee shall devote his
manpower, know-how and skills to the business of the Employer, and
conduct the business of the Employer for which he has been assigned
responsibility in accordance with statutory law, the provisions of
the Articles of Association, Employer Policies, as amended from
time to time and as applicable to the Employee, and in accordance
with the general or specific directives and instructions of
Employer’s [Board of Directors][Chairman and Chief Executive
Officer, as the case may be.].
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3
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For example, with respect to
the Chairman and Chief Executive Officer, insert:
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[the following duties and
responsibilities: Provide overall direction of the business with
maximum return on invested capital, coordinate the efforts of the
Senior Executives, working with them to develop current and
long-term objectives, policies and procedures, represent Employer
to its customers, shareholders, financial community and the general
public, establish budgetary goals and objectives and review
operating results.]
with respect to the Chief Financial
Officer, insert:
[those duties and
responsibilities that are regularly and customarily performed by
the Chief Financial Officer, including, but not limited to,
responsibility for the finance function, including investments,
accounting and tax.]
with respect to the General Counsel,
insert:
[those duties and
responsibilities that are regularly and customarily performed by
General Counsel]
3
| 3. |
Duty of Care and Loyalty |
The Employee shall carefully
perform the duties assigned to him and loyally pursue and protect
the Employer’s interests.
| 4. |
Location of Employment |
The principal location of the
employment shall be Zurich 4 or as otherwise mutually agreed by the parties.
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