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Investor Presentaiton

Czech labour law is not considered exces- sively rigid and is relatively flexible within the EU context. Employment law is governed by the Labour Code. Where an employee from another EU member state is sent by an employer to work in the Czech Republic as part of the transnational provision of services, Czech Labour Code regu lations shall apply to basic conditions, such as maximum working hours and the minimum length of rest periods, the minimum annual leave entitlement, the minimum wage and overtime rates, occupational health and safety, etc. The maximum working week is 40 hours. The standard working week is Monday to Friday. The maximum amount of overtime which may be ordered by the employer is 150 hours per year. The maximum amount of overtime worked with the employee's consent may not exceed 416 hours annually. Overtime must be distributed evenly. The retirement age for individuals ranges from 60 to 65 based on gender, date of birth and the number of children raised (applicable to women only). Employment contracts Employers are required to conclude written employment contracts with their employees. The contract must at least describe the type of work, the date the employee will commence work, and where the work will be performed. Trial periods may generally not be longer than three months, except for managerial positions, where they may extend to up to six months. A fixed-term employment contract may be con- cluded for up to three years, and may only be renewed twice. An employment contract concluded for an indefinite period or a fixed term may be terminated: by agreement; - by notice; - by immediate termination; by termination during the trial period. A fixed-term employment contract also termi- nates on the expiry of the agreed period. The employer or the employee may terminate a contract by giving written notice. The notice period for the employer and the employee is at least two months, and the employee can give notice without stating a reason. When the employer terminates an employ- ment contract, it must be for one of the rea- sons stated in the Labour Code, such as: 40 40
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