This is an agreement between an employer and an employee outlining terms of the employment for the employee, including employment period, compensation, scope of duties and responsibilities, and vacation policy. The agreement also contains restrictive covenants, such as a confidentiality clause and a non-competition clause whereby the employee agrees not engage in or be employed in a competing company and agrees not to solicit company customers or clients for a set amount of time. This employment agreement should be retained by the human resources department and kept in the employee’s personnel file.
This is an agreement between an employer and an employee outlining terms of the employment for the employee, including employment period, compensation, scope of duties and responsibilities, and vacation policy. The agreement also contains restrictive covenants, such as a confidentiality clause and a non-competition clause whereby the employee agrees not engage in or be employed in a competing company and agrees not to solicit company customers or clients for a set amount of time. This employment agreement should be retained by the human resources department and kept in the employee’s personnel file. © Copyright 2013 Docstoc Inc. 1 Detailed Employment Agreement with Benefits Described, Covenant not to Compete and Confidentiality Clause Employment Agreement made on the (date), between (Name of Employee) of (street address, city, county, state, zip code), referred to herein as Employee, and (Name of Company), a corporation organized and existing under the laws of the state of ______________, with its principal office located at (street address, city, county, state, zip code), referred to herein as Company. Whereas, Employee and the Company desire to enter into an employment agreement to fully recognize the contributions of the Employee to the Company and to assure continuous harmonious performance of the affairs of the Company; Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Employment Company hires Employee as (job title) of the Company and Employee does accept such employment upon the terms and conditions set forth in this Agreement and agrees to perform the duties required of him to the best of his ability. 2. Term of Employment The terms of this Agreement shall commence as of (date) and shall continue until (date) and subsequently from month to month. Company may terminate this Agreement upon ____________ days' notice and Employee may terminate this Agreement upon __________ days' written notice to the Company. In such event Employee shall continue to receive his compensation and Employee shall continue to render services through the date of termination. 3. Compensation For services rendered by Employee under this Agreement, Company shall pay the Employee the sum of $________ per (designate period, e.g. monthly or weekly), with said amount to be paid on a (e.g., monthly period). 4. Benefits of Employee Employee shall also receive the following benefits: A. Employee shall have (number) paid sick days per (e.g. fiscal year), provided that Employee shall not be entitled to more than (number) paid sick days during the first (number) days of employment. B. Employee shall have (number) paid personal days per (e.g. fiscal year), provided that the Employee shall not be entitled to more than (number) paid personal days during the first (number) days of employment. C. Employee shall receive towards his moving expenses: (e.g. a flat sum or the amount spent) for the following expenses: moving vans; storage of goods in transit; mileage at ____________ cents per mile; © Copyright 2013 Docstoc Inc. 2 any sales commission on the sale of Employee's present residence or the difference between $____________ and the actual sale price (if less) of Employee's present residence; and all motel and hotel room expenses up to $____________ per day for a maximum of _____ days. D. Employee shall participate in the deferred compensation plan attached to this Agreement as Exhibit A. E. Employee shall participate in the following Employee benefit plans, according to the following terms and conditions (to the extent supplemented by the respective plans themselves): 1. Medical insurance with the following features: a. Hospital: i. Room and Board: $____________; ii. Maximum No. of Days: ____________; iii. Intensive Care Additional: $ ____________; iv. Intensive Care No. of Days: ____________; v. Maximum Extra Charges: $____________; vii. Surgical Schedule: ____________; viii. Anesthesia: ____________; ix. In-Hospital Benefit: ____________; x. Hospital Out-Patient: ____________; xi. Supplemental Accident: ____________; xii. Radiation Therapy: ____________; xiii. Diagnostic X-Ray and Lab: ____________; and xiv. Maternity: ____________. b. Major Medical: i. Maximum: $____________; ii. Deductible: $____________; iii. Coinsurance: ____________; iv. Prescription Drugs: ____________; v. Out-Patient: ____________; and vi. Convalescent Care: ____________ c. Carrier: ____________________________________________. 2. Disability Insurance with the following features: a. Carrier: ___________________________________________; b. Wait upon accidental disability: ____________; c. Wait upon sickness: ____________; d. Benefit per week: $____________; © Copyright 2013 Docstoc Inc. 3 e. Reduction for partial disability: ____________; f. Reduction for ability to be employed in some other job: ____________; g. Benefit period upon accident: ____________; and h. Benefit period upon sickness: ____________; 3. Group Term Life Insurance with a death benefit of _______________. 4. Fully paid vacation days per year: ____________. 5. Fully paid sick days per year: ____________. 6. Work Related Educational Benefits: a. Days fully paid: ____________; b. Maximum course charge/day: $____________; c. Maximum course and book costs per corporate fiscal year: $____________. 7. A qualified retirement plan benefit which has the following features: a. Name of Plan: _____________________________________; b. Minimum age for participation: ____________; c. Minimum service for participation: ____________; d. Employment status (categories): ____________; e. Vesting: ____________; f. Company contribution formula: _________________________; g. Employee contribution formula: ___________________________; h. Effective date of Plan: ____________; and I. Initial contribution: $____________; 8. A deferred compensation plan which has the following features: a. Benefit on Death: $____________; b. Benefit on Disability: $____________; © Copyright 2013 Docstoc Inc. 4 c. Benefit on Retirement or Termination before age 65: $____________; d. Benefit on Retirement or Termination after age 65: $____________; 9. Car expense allowance of ($_____ per month or $____________ cents per mile). 10. Payment of all business association dues. 5. Vacation Employee shall be entitled to a minimum paid vacation of ____ days for each 12-month period of employment, which the Employee shall have the right to take during the last ____________ months of each fiscal year of the Company or subsequent to such 12-month period as shall be reasonably consistent with his duties and obligations to the Company. 6. Expenses Employee is authorized to incur reasonable expenses incurred on behalf of the Company including, but not limited to, expenses for entertainment, travel, management seminars, related travel and related use of the telephone, limited as follows: (specify limitations, such as: entertainment shall be limited to $____________ per year.) 7. Work Facilities Company shall provide and maintain such facilities, equipment, supplies and personnel as it deems necessary for the Employee's performance of his duties under this Agreement. 8. Duties Employee's duties shall include, but not be limited to, rendering services at such times and on such days as determined by the Board of Directors of the Company, keeping and maintaining (or causing to be kept or maintained) appropriate records relating to all services rendered by him and preparing and attending to (in connection with such services) all reports, claims, and correspondence necessary to his employment and doing all things reasonable to maintain and improve his professional skills. Employee's other duties shall be such as the Board of Directors may from time to time reasonably direct. Employee shall perform his duties under this Agreement in accordance with such standards of professional ethics and practice as may from time to time be applicable during the term of his employment under this Agreement. 9. Extent of Services Employee shall devote his entire time, attention, and energies to the business of the Company, and shall not during the term of this Agreement be engaged in any other business activity, whether or not such business activity is pursued for gain, profit, or other pecuniary advantage, without the prior written consent of the Company first obtained; but this shall not be construed as preventing the Employee from investing, when such investment will not interfere with the Employee's full-time employment by the Company. 10. Covenant Not to Compete During the period Employee is under contract with Company, and for a period of ____ year(s) after termination of said contract, Employee will not directly or indirectly: © Copyright 2013 Docstoc Inc. 5 A. Recruit, solicit, induce, or attempt to induce any of the employees or customers of the Company to terminate their employment or contractual relationship with Company. B. Solicit, divert, take away, or attempt to divert or take away, from the Company any of its business or the patronage of its customers, clients, accounts, vendors or suppliers for products, sold, distributed or processed by the Company, and Employee shall not assist any other person to do so. C. If any restriction set forth in this Section 10 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. D. The restrictions contained in this Section 10 are necessary for the protection of the business and goodwill of the Company and are considered by Employee to be reasonable for such purpose. Employee agrees that any breach of this Section 10 will cause the Company substantial and irrevocable damage and therefore, in the event of any such breach, in addition to such other remedies which may be available, the Company shall have the right to seek specific performance and injunctive relief. 11. Confidentiality. Contractor and Employer both acknowledge that all information and materials furnished from the Employer concerning this Agreement and the performance of it is confidential and may not be used for any purpose other than in connection with this Agreement. 12. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 13. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 14. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of __________. 15. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 16. Attorney’s Fees © Copyright 2013 Docstoc Inc. 6 In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 17. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 18. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 19. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 20. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 21. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. (Name of Company) ________________________ By:_________________________ (Printed name) (Printed name & Office in Corporation) (Signature of Employee) (Signature of Officer) © Copyright 2013 Docstoc Inc. 7
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