Employment Agreement Policy
March 09, 2008
The Employment Agreement policy is an agreement between the Company and the employee stating, in writing, the wage/salary, dates of payments, dates of acceptance, and job title. It further acknowledges that the employee received an employee handbook, and agrees to comply with it and any other rules. Neither the handbook, practices, nor any communications create an employment contract or term. The policies and benefits communicated to the employee are subject to change, interpretation, and review by ABC Company at any time. It also covers confidentiality and noncompete clauses, where applicable.
Subject: Employment Agreement
Example of: Standard Policy
In accepting employment with ABC Company (Employer), I agree: (1) [my wage/salary is $_______/per hour] or [$_______ paid twice a month]; (2) the starting date for work is ____________________; and (3) my job title is _________________________. I have received ABC Company’s employee handbook, and agree to comply with it and any other rules. Neither the handbook, practices, nor any communications create an employment contract or term. I understand that the policies and benefits communicated to me are subject to change, interpretation, and review by ABC Company at any time.
ABC Company may impart to me confidential information, including, without limitation, designs, pricing, financial information, personnel information, real estate information, marketing strategies, customer profiles, and the like (collectively confidential information). I hereby acknowledge ABC Company’s exclusive ownership of such confidential information.
I agree: (1) to use only the confidential business information to provide services or goods to ABC Company; (2) to communicate only the confidential information to fellow employees on a need-to-know basis; and (3) not to otherwise disclose or use, at any time, any confidential information. As an example, and not as a limitation, I understand that I am not to use or provide confidential information for the purpose of trading any securities of ABC Company. Upon demand of ABC Company or termination of my employment, I will deliver to ABC Company all blueprints, manuals, designs, photographs, recordings, and any other media by which, through which, or on which confidential information has been recorded or stored, which are in my possession, custody, or control.
I further agree that the disclosure or use of any confidential information, in breach of this understanding, would cause irreparable harm to ABC Company and, accordingly, not only can ABC Company seek damages, but I agree to the issuance of a permanent injunction against me restraining such disclosure and use, and I agree that any court of competent jurisdiction, selected by ABC Company, shall have personal jurisdiction over me.
I agree that neither this document nor any other communication shall bind ABC Company to employ me now or in the future, that no consideration has been furnished to ABC Company for my employment, other than my services, and that my employment may be terminated by ABC Company or me, with or without notice, at any time. I further agree that if my employment is terminated by ABC Company, it can be done without liability to me for wages or salary, except such as may have been earned or which may be due by virtue of applicable statutes. I understand that only the president of ABC Company has any authority to enter into any agreement for employment for any specified period, or to assure any benefits or terms or conditions of employment, or to make any agreement contrary to this statement. I also understand and agree that this agreement may not be modified orally, and that if such a modification is made, it must be in writing and signed by the president of ABC Company.
I agree not to recruit and not to assist any other entity in recruiting any other employee who worked for ABC Company during the last 12 months in which I worked for ABC Company. Further, I will not reveal the identity of any supplier to any competitor of ABC Company. These restrictions will apply during my employment and for 12 months subsequent to my employment. I understand that in establishing the precise amount of damages for breach of the provision, for each person recruited about whom I have provided information in violation of this provision, liquidated damages for such violation shall be the amount of annual compensation of that person at ABC Company.
Employee Printed Name