Employment Contracts

Contracts or employment agreements are becoming increasingly common for senior executives and key employees. Such agreements typically cover the items that are negotiated during the hiring process: salary, benefits, job titles and responsibilities, and perks (such as stock options, moving expenses, tuition reimbursement). While the company focuses on how valuable their new employeee will be, and the new manager or executive dreams about that reserved parking spot, both sides should remember that effective contracts also should discuss what happens if the marriage doesn't work out. Even if the fit between the company and employee is a good one, things can change. Circumstances such as new management, relocation, changing family priorities or new opportunities may lead the employer and employee to go their separate ways at some point in the future.

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