What Is An Employment Agreement Or An Executive Employment Agreement In Manhattan?
An employment contract or an executive employment agreement is a legal document, usually entered into before an executive begins working for an employer, which states the terms and conditions of the working relationship.
Written employment agreements are common for executive employees. Likewise, written employment contracts are often proffered to certain categories of professional employees. For example, written employment contracts are frequently tendered to physicians and to dentists.
An employer may want to enter into an employment agreement to draw in and to keep high-level talent. A company can utilize executive employment agreements as tools to recruit prized hires.
Further, an employer may wish to use an executive employment contract to prohibit the executive, upon leaving the employer, from taking a position with a competing firm. Similarly, a business may want to use an executive employment agreement to maintain the business’s customers and to keep the business’s other employees should the executive move on to a new position at another company. So, too, an employer may want to enter into an employment contract to protect its existing and future trade secrets.
An executive employee wants an employment agreement to provide job security and to guard against an employer’s arbitrary actions. Further, an employment contract can benefit an executive employee by increasing the value and breadth of the employee’s compensation and employee benefits. Again, an employment agreement can aid an executive by smoothing the executive’s exit when his or her employment with the company ceases.
The optimal time for an executive employee to negotiate executive employment agreement terms and conditions is before an offer of employment is made or accepted.
If you are an employee in the Manhattan metro area who seeks a written agreement of employment with a prospective employer, or who must respond to an employment agreement tendered by a potential employer, call Manhattan Employment Contracts Attorney David S. Rich at (347) 941-0760.
Our firm’s labor and employment practice includes the following:
- Labor and Employment Litigation
- Employment Compliance and Consulting
- Business Contracts and Agreements
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