Employment Agreement

Summary

A contract between an employer and its employee that sets forth the terms of the employment relationship. Common terms in employment agreements address the nature of employment (employment at will or fixed term); job description and duties; performance standards; compensation, including base salary, incentive compensation opportunity, and employee benefits; termination and severance (which may include clauses regarding termination with or without cause and resignation for good reason); restrictive covenants governing the employee’s conduct during and after employment and protection of confidential and proprietary information.