Employment Agreements play a vital role in the employment relationship for both employers and employees. While not critical for all job categories, employers should consider implementing Employment Agreements for executives, employees involved in sales, IT employees, and others with access to confidential information. A well-crafted Employment (or Executive) Agreement defines the duties and responsibilities of the employee, provides for compensation and benefits, the term of employment, grounds for termination, whether severance pay will be provided in certain circumstances, and can include restrictions on the employee's post-employment activities that serve to protect the employer, including non-compete and non-solicitation prohibitions.
As an employee, if you are asked to sign an Employment Agreement, you would be well advised to obtain a professional review of the agreement before signing the document, which provides you with an opportunity to negotiate more favorable terms and obtain a complete understanding of your rights and obligations during and after the conclusion of the employment relationship.
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.