You're quite right, the contact contains no consideration on the part of the company. It's basically a contract of slavery. It also fails to assign his existin

You're quite right, the contact contains no consideration on the part of the company. It's basically a contract of slavery. It also fails to assign his existing work to the company (as contact terms cannot apply retroactively), which is a major blunder, as prior to signing this contact he could not be said to be an employee (if indeed he is). The patent warranty is particularly ominous, anyone who signs that would be taking on enormous risk for the rest of the business's life.