This is the part I do not like:
i) Due to the nature of your duties and your particular responsibilities, you recognise that you have an obligation to further the interests of company “B”.
ii) If you make an Invention in the course of your duties for us, you must disclose it to us at once. That Invention will belong to us. If we obtain a patent for that Invention, however, you may be entitled to compensation for it in accordance with the Patents Act 1977 s.40.
iii) Subject to ii), all Intellectual Property Rights that come into existence during the normal course of your employment or by using materials, tools or knowledge made available through your employment, will belong to us or any of the Group Companies which we nominate. If required to do so (whether during or after the termination of your employment), you must sign any document and do anything necessary to vest ownership in these rights in us as sole beneficial owner. Where ownership does not automatic ally vest by Act of Parliament, you must immediately assign all your interests to us. You irrevocably waive all your rights pursuant to sections 77 to 83 inclusive of the Copyright Designs and Patents Act 1988.
iv) The provisions of this clause 3 (c) shall remain in full force and effect following any termination of this agreement for any reason, whether such termination is lawful or not.
Any thoughts?