Employment Agreement with Business Protection Agreement
Category: Employment Agreements, Intellectual Property
Employment Agreement
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1. Term of Employment. The Company hereby agrees to employ Executive, and Executive hereby accepts such continued employment with the Company, on an at-will basis upon the terms and subject to the conditions set forth in this Agreement, for a period commencing on August 13, 2007 (the “Commencement Date”) and continuing until February 13, 2008, unless terminated in accordance with the provisions of Section 5 (the “Employment Term”).
2. Title; Duties. During the Employment Term, Executive shall serve as Interim Chief Executive Officer of the Company reporting directly to the Company’s Board of Directors (the “Board”).
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BUSINESS PROTECTION AGREEMENT
In consideration of an offer of employment by Nautilus, Inc., a Washington corporation (“Company”) and/or as a condition of continued employment by Company, Robert Falcone (“Employee”) an individual resident of Oregon, agrees to enter into this business protection agreement (“Agreement”) as follows:
| 1. | Work for Hire, Inventions and Assignment. |
| 1.1 | Work for Hire/Assignment of Inventions. Employee agrees that all creative work, whether tangible or intangible, including without limitation designs, drawings, specifications, techniques, models, processes and software, prepared or originated by Employee during or within the scope of his or her employment by Company (collectively “Work”), whether or not subject to protection under federal copyright or other law constitutes Work Made for Hire, all rights to which are owned by Company. |
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