Please let me know in detail Early!

THIS TEACHING CONTRACT (''Contract'') is entered into and becomes effective as of August 11, 2012 by and between Pretend Community College (''Employer''), and Cathy Trecek (''Employee'').

IN CONSIDERATION of the promises and of the mutual covenants contained herein, and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows:

1. Employment. Employer hereby engages Employee to serve as a political science and business professor and Employee hereby accepts such an engagement upon the terms and conditions set forth herein. 2. Term. The term of this Agreement shall begin on the effective date stated above and shall remain in effect until May 16 2013, unless terminated. If the Agreement is not terminated, the Agreement shall continue from year to year, unless either party to the Agreement gives written notice to the other of a desire to change, amend, modify or terminate the Agreement, at least 45 days prior to the end of the then existing term of the Agreement. 3. Duties. Employee is employed to serve as a political science and business professor and shall perform such duties as are customarily performed by such professor and other such related duties as Employer makes from time to time. As part of Employee's duties, Employee acknowledges and understands that: (a) Employee will devote his/her utmost knowledge and best skill to the performance of his/her duties; (b) Employee shall devote his/her full business time to the rendition of such services, subject to absences for customary vacations and for temporary illness; and (c) Employee will not engage in any other gainful occupation which requires his/her personal attention without prior consent of Employer, with the exception that Employee may personally trade in stock, bonds, securities, commodities or real estate investments for his/her own benefit.

4. Compensation. During the term of this Agreement, Employee shall be paid at the rate of $36,000 Dollars to be equally distributed at two week periods during the term of the contract. During the term of this Agreement, Employer may, but is not obligated to provide additional compensation to Employee, consistent with Employer's policies and procedures. In the event the parties agree to extend the term of this Agreement, Employer in its discretion may increase or decrease Employee's compensation. 5. Fringe Benefits. Employee shall be entitled to the fringe benefits provided to under Employer's policies and procedures.

6. Arbitration/Sole Remedy for Breach of Agreement. In the event of any dispute between Employer and Employee concerning any aspect of the employment relationship, including any disputes upon termination, all such disputes shall be resolved by binding arbitration before a single neutral arbitrator. The arbitrator shall be selected from the American Arbitration Association through its procedures. All rules governing the arbitration shall be the rules as set forth by the American Arbitration Association. The arbitrator is bound to rule only on whether or not there has been a violation of the terms of this Agreement and to render an award, if any, that is consistent with the terms of this Agreement. Neither party to this Agreement is entitled to any legal recourse or rights or remedies other than those provided 'within this Agreement. The Employee's sole remedies for claims arising out of his/her employment, with the exception of workers' compensation remedies, are those set forth in this Agreement. In the event of a termination of employment, the arbitrator is limited to a determination of whether or not the discharge was for good cause or for other than good cause, including for discriminatory reasons. If an arbitration is brought for something other than a termination of employment, the arbitrator is limited to award contract damages. The arbitrator may apportion the costs of the arbitration, including arbitrator's fees, among the parties, but shall have no power to award attorneys' fees. Each party shall be responsible for its own attorneys' fees.

7. Governing Law. This Agreement shall be interpreted, construed, governed and enforced in accordance to the laws of the State of Iowa.

8. Entire Agreement. Employee acknowledges receipt of this Agreement and agrees that this Agreement represents the entire Agreement with Employer concerning the subject patter hereof, and supersedes any previous oral or written communications, representations, understandings or Agreements with Employer or any agent thereof. Employee understands that no representative of the Employer has been authorized to enter into any Agreement or commitment with Employee which is inconsistent in any way with the terms of this Agreement. IN WITNESS HEREOF, the parties have executed this Agreement as of the date set forth above.

_____________________ _____________________________

Cathy Trecek Authorized Pretend Comm College Representative

Step 1: Review the employment contract. (Attached to this Dropbox. - in very small font right underneath the written language of this assignment)

Step 2: Answer the contract interpretation questions. "Yes" & "No" answers earn NO points; make sure that you explain your answers.

Basic Contract Interpretation Questions

1. Who are the parties?

2. What is the subject matter of the contract (K)?

3. What is the consideration? I want you to identify the consideration not give me a definition. So you must literally tell me how much money,etc. FOR THIS contract!

4. What is the jurisdiction? (Remember jurisdiction is the power, control or authority so this question is asking which state law applies.)

5. If you represented either of the parties (either in a legal capacity or as a business manager) would you advise signing or should we go back to the drawing board? If we go back to the drawing board, what should be redrafted?