Over here at RealDealDocs we are doing a spring cleaning of sorts. In addition to the continuous upload of agreements and contracts to our database, we are showing some special interest in one of our most researched categories: Employment Agreements. We have spoke on employment agreements many times around here, but just in case you have missed these posts, “let me briefly review some of the key elements before talking about how we’re looking to tailor our employment contracts. These key elements of employment agreements include:
- Term. First, this provision should list the employee’s annual salary. Also, any agreement regarding the option to renew the agreement, either on the executive’s side, the company’s side, or both, should be addressed.
- Duties of Employee. If the precise services of the employee may be extended or curtailed by mutual agreement, this should be listed as well.
- Duties of Employer. The employer should promise to pay all compensation, benefits, and allowances as set forth in the agreement.
- Confidential Information. The employee must promise to keep all secret information confidential.
- Termination. The relevant termination provisions should be carefully spelled out. If the employer may only terminate the employee for cause, then cause must be defined. In at will states, such as for California employment agreements, this should be delineated.
Other elements include appropriate non-competition / non-disclosure agreements, intellectual property transfers, etc.”
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