What Is An Employment Agreement?
An Employment Agreement is a legally binding contract between an employer and employee. It establishes important terms of employment to ensure both parties’ expectations and commitments are clear.
Employment Agreement Key Terms
Important terms under this employment agreement template will typically include:
- Compensation terms to define how the employee will be paid –hourly rate or salary, commission information, etc.
- The benefits that will be afforded to the employee and whether he/she will be eligible for health insurance, life insurance, and number of vacation/holidays allowed.
- An at-will clause or a notice period required prior to termination, and any other policy information regarding termination.
A confidentiality clause that will typically define what information will be covered under this section – this will include products, inventions, designs, processes, trade secrets, etc.