One of the first questions we ask of new clients is whether they have an employment agreement. Without one, you are considered in “at-will” employee in this jurisdiction and can be terminated at any time, without notice or the benefit of severance compensation. Whether you are an executive, a sales person, IT employee or hold a position in which you have a “book of business,” you would be well advised to negotiate an employment agreement when taking a new position. A well negotiated employment agreement will cover a broad array of important issues, including:
- The term or length of employment;
- Job responsibilities;
- Compensation and benefits;
- Termination, including for cause, no cause and termination by the employee;
- Restrictions on post-employment activities, such as non-competition and non-solicitation provisions; and
- Severance pay.
During his legal career, Marc has drafted, negotiated and reviewed innumerable employment agreements on behalf of employers, executives and other high-level employees, including executives of publicly traded companies. Marc has also litigated and arbitrated a significant number of cases involving employment agreements.
Consult with an experienced attorney during the negotiation process prior to signing an employment agreement to ensure that you have maximum protection in the event of an employment loss and to prevent your employer from putting onerous and unreasonable restrictions on your ability to work elsewhere in the event your employment unexpectedly ends.