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EMPLOYMENT CONTRACT

Employment Agreement

EMPLOYMENT CONTRACT | Document Parties: PASHMINADEPOT.COM, INC | Swiss-Indo Trade & Invest SA You are currently viewing:
This Employment Agreement involves

PASHMINADEPOT.COM, INC | Swiss-Indo Trade & Invest SA

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Title: EMPLOYMENT CONTRACT
Date: 10/22/2009

EMPLOYMENT CONTRACT, Parties: pashminadepot.com  inc , swiss-indo trade & invest sa
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Exhibit 10.12

 

EMPLOYMENT CONTRACT

 

Between

 

Swiss-Indo Trade & Invest SA

15, Route deFribourg 1723 Marly, Switzerland

Hereinafter: "the Employer"

 

and

 

Dr Yves Ducommun

 

5,CheminduJura

1024 Ecublens, Switzerland

Hereinafter: "the Employee"

 

Whereas the parties to this contract (hereinafter: "the Parties") have agreed as follows:

 

1.       Date of the entry in service

 

     This contract enters into force on January 1 st , 2009, and supersedes any previous agreement between the Parties.

 

2.       Functions

 

     The employee works full time (100%), and serves as Chief Executive Officer of Swiss-Indo Trade & Invest SA.

 

3.       Duration

 

     This contract is of unlimited duration.

 

4.       Retribution

 

     The annual gross income granted to the Employee amounts to CHF 380'000.—, to be paid in twelve monthly installments latest on the penultimate day of the month. The income is subject to legal deductions for AVS, public unemployment insurance, and the Employee's contribution to the pension fund.

 

     The Employee accepts that the installments for the months between January 2009 and September 2009, as well as the corresponding charges due by the Employer, shall only be paid as of October 31 st , 2009.

 

     Moreover, as of January 10 th , 2010, the Employee may be entitled to receive an annual bonus to be determined according to the scheme of payment hereunder, of which the goals and factors shall be subject to annual review from the Board of Directors and notified in advance.

 

     Scheme of payment:

 

     (0-20% of the annual income in the event of an achievement of individual objectives)

 

 

1


 

 

     + (0-10% of the annual income in the event of the achievement of 80 to 120% of the budgeted turnover)

 

     + (0-20% of the annual salary in the event of the achievement of the budgeted net profit).

 

    &n


 
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