PUBLISHED ON: February 12, 2007
This article originally appeared in Anderson Kill's Employment Law Insider (Winter 2006/2007).
With more and more executives, managers and professionals in the modern work place demanding (and receiving) written agreements setting forth their terms and conditions of employment, employers should be aware of what they are getting themselves into when providing such written employment contracts. In part one of our two-part series, we explored the concept of employment at will and the parties’ respective preferences for having an employment agreement, as well as including the following key clauses: scope of employment, term, termination and base salary and bonuses. In part two we will continue to explore key clauses, such as company stock, benefits and vacation, as well as how to deal with confidential information, noncompetition and other standard provisions which should appear in the employment agreement.