[{"data":1,"prerenderedAt":529},["ShallowReactive",2],{"document-employment-agreement-key-employee-D546":3},{"document":4,"label":26,"preview":11,"thumb":27,"thumb600":28,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":29,"breadcrumb":33,"related":39,"customDescModule":175,"customdescription":6,"mdFm":176,"mdProseHtml":528},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":25},"EMPLOYMENT AGREEMENT FOR KEY EMPLOYEE This Employment Agreement for Key Employee (the \"Agreement\") is made and effective this [Date], BETWEEN: [EMPLOYEE NAME] (the \"Employee\"), an individual with his main address at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Company\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] RECITALS Company is engaged in the business of [DESCRIBE], and maintains a branch office at [address], [city], [state/PROVINCE]. Employee has been engaged and has had a great deal of experience in the above-designated business. Employee is willing to be employed by Company, and Company is willing to employ employee, on the terms, covenants, and conditions set forth in this Agreement. In consideration of the matters described above, and of the mutual benefits and obligations set forth in this Agreement, the parties agree as follows: Employment Company will employ Employee and Employee accepts employment upon the terms set forth below, and at a compensation which may be agreed upon from time to time by Company and Employee. This Agreement starts as of the date set forth above and remains in effect for an indefinite time until terminated by Company or by Employee by giving the other party notice of termination at least [NUMBER] days in advance. Instead of such notice, Company may at its sole option, pay Employee the salary equivalent for [NUMBER] days. While employed by Company, Employee agrees to devote Employee's full working time to the affairs of Company. Employee shall not work as an employee, independent consultant or agent for another entity, whether or not during the business hours of Company, without the permission of Company. Confidentiality Employee recognizes and acknowledges that the software systems, including specifications, programs and documentation, the methods and data which Company owns, plans or develops, whether for its own use or for use by its clients, developments, designs, inventions and improvements, trade secrets and works of authorship are confidential and are the property of Company. Employee also recognizes that Company's customer lists, supplier lists, proposals and procedures are confidential and are the property of Company. Employee further recognizes and acknowledges that in order to enable Company to perform services for its clients, those clients may furnish to Company confidential information concerning their business affairs, property, methods of operation or other data; that the goodwill afforded to Company depends upon, among other things, Company and its employees keeping such services and information confidential. All of these materials and information including that relating to Company's systems and Company's clients, will be referred to below as \"Proprietary Information.\" Non-Disclosure Employee agrees that, except as directed by Company, and in the ordinary course of Company's business, Employee will not at any time, whether during or after Employee's employment with Company, disclose to any person or use, directly or indirectly, for Employee's own benefit or the benefit of others, any Proprietary Information, or permit any person to examine or make copies of any documents which may contain or is derived from Proprietary Information, whether prepared by Employee or otherwise coming into Employee's possession or control. Employee agrees that the provisions of this paragraph shall survive the termination of this Agreement and Employee's employment by Company. Possession Employee agrees that upon request by Company, and in any event upon termination of Employee's employment, Employee shall then over to Company all documents, papers or other material in Employee's possession or under Employee's control which may contain or be derived from Proprietary Information, together with all documents, notes or Employee's work products which are connected with or derived from Employee's services to Company and all copies of software obtained from Company shall be either returned to Company or, as appropriate, permanently deleted. Upon termination of Employee's employment with Company, Employee agrees to pay in full any amount owed Company, including but not limited to monies used to purchase computer hardware",null,"Employment Agreement Key Employee","3",44,"doc","https://templates.business-in-a-box.com/imgs/1000px/employment-agreement_key-employee-D546.png","https://templates.business-in-a-box.com/imgs/250px/546.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#546.xml",{"title":6,"description":6},[16,19,22],{"label":17,"url":18},"Human Resources","/templates/human-resources/",{"label":20,"url":21},"Hire an Employee","/templates/hire-employee/",{"label":23,"url":24},"Legal Agreements","/templates/business-legal-agreements/","employment agreement key employee","Employment Agreement Key Employee Template","https://templates.business-in-a-box.com/imgs/400px/546.png","https://templates.business-in-a-box.com/imgs/600px/546.png",[30,16,19,22],{"label":31,"url":32},"Templates","/templates/",[34,35,36],{"label":31,"url":32},{"label":23,"url":24},{"label":37,"url":38},"Employment & Contractors","/templates/employment-and-contractors/",[40,44,48,52,56,60,64,68,72,76,80,84,88,103,118,132,146,160],{"label":41,"url":42,"thumb":43,"extension":10},"Employment Agreement For Technical Employee","/template/employment-agreement-for-technical-employee-D540","https://templates.business-in-a-box.com/imgs/250px/540.png",{"label":45,"url":46,"thumb":47,"extension":10},"Employment Agreement","/template/employment-agreement-D12539","https://templates.business-in-a-box.com/imgs/250px/12539.png",{"label":49,"url":50,"thumb":51,"extension":10},"Employment Agreement_At Will Employee","/template/employment-agreement_at-will-employee-D541","https://templates.business-in-a-box.com/imgs/250px/541.png",{"label":53,"url":54,"thumb":55,"extension":10},"Employment Agreement Executive","/template/employment-agreement-executive-D543","https://templates.business-in-a-box.com/imgs/250px/543.png",{"label":57,"url":58,"thumb":59,"extension":10},"Employment Agreement Executive2","/template/employment-agreement-executive2-D544","https://templates.business-in-a-box.com/imgs/250px/544.png",{"label":61,"url":62,"thumb":63,"extension":10},"Checklist Key Employee Life Insurance","/template/checklist-key-employee-life-insurance-D610","https://templates.business-in-a-box.com/imgs/250px/610.png",{"label":65,"url":66,"thumb":67,"extension":10},"Restrictive Covenants for Employment Agreements","/template/restrictive-covenants-for-employment-agreements-D555","https://templates.business-in-a-box.com/imgs/250px/555.png",{"label":69,"url":70,"thumb":71,"extension":10},"Employment Agreement Executive with Car Allowance","/template/employment-agreement-executive-with-car-allowance-D542","https://templates.business-in-a-box.com/imgs/250px/542.png",{"label":73,"url":74,"thumb":75,"extension":10},"Post-Employment Information Release Agreement","/template/post-employment-information-release-agreement-D679","https://templates.business-in-a-box.com/imgs/250px/679.png",{"label":77,"url":78,"thumb":79,"extension":10},"Employee Non-Compete Agreement","/template/employee-non-compete-agreement-D537","https://templates.business-in-a-box.com/imgs/250px/537.png",{"label":81,"url":82,"thumb":83,"extension":10},"Employee Non Disclosure Agreement","/template/employee-non-disclosure-agreement-D538","https://templates.business-in-a-box.com/imgs/250px/538.png",{"label":85,"url":86,"thumb":87,"extension":10},"Employee Reference Release Agreement","/template/employee-reference-release-agreement-D674","https://templates.business-in-a-box.com/imgs/250px/674.png",{"description":89,"descriptionCustom":6,"label":90,"pages":91,"size":92,"extension":10,"preview":93,"thumb":94,"svgFrame":95,"seoMetadata":96,"parents":97,"keywords":101,"url":102},"INDEPENDENT CONTRACTOR AGREEMENT This Independent Contractor Agreement (\"Agreement\") is made and effective [Date], BETWEEN: [INDEPENDENT CONTRACTOR NAME] (the \"Independent Contractor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Company\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] RECITALS Independent Contractor is engaged in providing [Describe] business services, its Employer Tax I.D. Number is [Insert], and its Business License Number is [insert]. Independent Contractor has complied with all Federal, State, and local laws regarding business permits, sales permits, licenses, reporting requirements, tax withholding requirements, and other legal requirements of any kind that may be required to carry out said business and the Scope of Work which is to be performed as an Independent Contractor pursuant to this Agreement. Independent Contractor is or remains open to conducting similar tasks or activities for clients other than the Company and holds themselves out to the public to be a separate business entity. Company desires to engage and contract for the services of the Independent Contractor to perform certain tasks as set forth below. Independent Contractor desires to enter into this Agreement and perform as an independent contractor for the company and is willing to do so on the terms and conditions set forth below. NOW, THEREFORE, in consideration of the above recitals and the mutual promises and conditions contained in this Agreement, the Parties agree as follows: TERMS This Agreement shall be effective commencing [Date], and shall continue until terminated at the completion of the Scope of Work which shall occur no later than [Date] or by either party as otherwise provided herein. STATUS OF INDEPENDENT CONTRACTOR This Agreement does not constitute a hiring by either party. It is the parties intentions that Independent Contractor shall have an independent contractor status and not be an employee for any purposes, including, but not limited to, [laws]. Independent Contractor shall retain sole and absolute discretion in the manner and means of carrying out their activities and responsibilities under this Agreement. This Agreement shall not be considered or construed to be a partnership or joint venture, and the Company shall not be liable for any obligations incurred by Independent Contractor unless specifically authorized in writing. Independent Contractor shall not act as an agent of the Company, ostensibly or otherwise, nor bind the Company in any manner, unless specifically authorized to do so in writing. TASKS, DUTIES, AND SCOPE OF WORK Independent Contractor agrees to devote as much time, attention, and energy as necessary to complete or achieve the following: [Describe]. The above to be referred to in this Agreement as the \"Scope of Work\". It is expected that the Scope of Work will completed by [Date]. Independent Contractor shall additionally perform any and all tasks and duties associated with the Scope of Work set forth above, including but not limited to, work being performed already or related change orders. Independent Contractor shall not be entitled to engage in any activities which are not expressly set forth by this Agreement. The books and records related to the Scope of Work set forth in this Agreement shall be maintained by the Independent Contractor at the Independent Contractor's principal place of business and open to inspection by Company during regular working hours. Documents to which Company will be entitled to inspect include, but are not limited to, any and all contract documents, change orders/purchase orders and work authorized by Independent Contractor or Company on existing or potential projects related to this Agreement. Independent Contractor shall be responsible to the management and directors of Company, but Independent Contractor will not be required to follow or establish a regular or daily work schedule. Supply all necessary equipment, materials and supplies. Independent Contractor will not rely on the equipment or offices of Company for completion of tasks and duties set forth pursuant to this Agreement. Any advice given Independent Contractors regarding the scope of work shall be considered a suggestion only, not an instruction. Company retains the right to inspect, stop, or alter the work of Independent Contractor to assure its conformity with this Agreement. ASSURANCE OF SERVICES Independent Contractor will assure that the following individuals (the \"Key Employees\") will be available to perform, and will perform, the Services hereunder until they are completed (identify by title and name as applicable): [Name of Key Employee, Title] [Name of Key Employee, Title] The Key Employees may be changed only with the prior written approval of the Company, which approval shall not be unreasonably withheld. COMPENSATION Independent Contractor shall be entitled to compensation for performing those tasks and duties related to the Scope of Work as follows: [Describe] Such compensation shall become due and payable to Independent Contractor in the following time, place, and manner: [Describe] NOTICE CONCERNING WITHHOLDING OF TAXES Independent Contractor recognizes and understands that it will receive a [specify tax] statement and related tax statements, and will be required to file corporate and/or individual tax returns and to pay taxes in accordance with all provisions of applicable Federal and State law. Independent Contractor hereby promises and agrees to indemnify the Company for any damages or expenses, including attorney's fees, and legal expenses, incurred by the Company as a result of independent contractor's failure to make such required payments. AGREEMENT TO WAIVE RIGHTS TO BENEFITS Independent Contractor hereby waives and foregoes the right to receive any benefits given by Company to its regular employees, including, but not limited to, health benefits, vacation and sick leave benefits, profit sharing plans, etc. This waiver is applicable to all non-salary benefits which might otherwise be found to accrue to the Independent Contractor by virtue of their services to Company, and is effective for the entire duration of Independent Contractor's agreement with Company. This waiver is effective independently of Independent Contractor's employment status as adjudged for taxation purposes or for any other purpose. Neither this Agreement, nor any duties or obligations under this Agreement may be assigned by either party without the consent of the other. TERMINATION This Agreement may be terminated prior to the completion or achievement of the Scope of Work by either party giving [number] days written notice. Such termination shall not prejudice any other remedy to which the terminating party may be entitled, either by law, in equity, or under this Agreement. NON-DISCLOSURE OF TRADE SECRETS, CUSTOMER LISTS AND OTHER PROPRIETARY INFORMATION Independent Contractor agrees not to disclose or communicate, in any manner, either during or after Independent Contractor's agreement with Company, information about Company, its operations, clientele, or any other information, that relate to the business of Company including, but not limited to, the names of its customers, its marketing strategies, operations, or any other information of any kind which would be deemed confidential, a trade secret, a customer list, or other form of proprietary information of Company. Independent Contractor acknowledges that the above information is material and confidential and that it affects the profitability of Company. ","Independent Contractor Agreement","6",62,"https://templates.business-in-a-box.com/imgs/1000px/independent-contractor-agreement-D160.png","https://templates.business-in-a-box.com/imgs/250px/160.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#160.xml",{"title":6,"description":6},[98],{"label":99,"url":100},"Consultant & Contractors","consulting-contractor-business","independent contractor agreement","/template/independent-contractor-agreement-D160",{"description":104,"descriptionCustom":6,"label":105,"pages":106,"size":107,"extension":10,"preview":108,"thumb":109,"svgFrame":110,"seoMetadata":111,"parents":113,"keywords":112,"url":117},"FIXED-TERM AGREEMENT This Fixed-Term Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [COMPANY NAME], (the \"Company\") a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at: [YOUR COMPLETE ADDRESS] AND: [EMPLOYEE NAME], (the \"Employee\") an individual with his main address located at: [YOUR COMPLETE ADDRESS] Collectively, the Company and Employee shall be referred to as the \"Parties.\" WHEREAS, the Company has offered employment to the Employee in the capacity of [SPECIFY CAPACITY OF EMPLOYEE] in the Company; WHEREAS, the Employee is desirous of and is willing to be employed by the Company in such capacity; NOW, THEREFORE, the Parties agree as follows: DEFINITIONS \"Agreement\" and \"this Agreement\" shall mean this Fixed-Term Agreement and all attached annexures and instruments supplemental to or amending, modifying or confirming this Agreement, in accordance with the provisions of this Agreement. \"Company\" shall have the meaning given to such expression in paragraph 1 of the introduction of the Parties. \"Confidential Information\" includes any trade/business secret, technical knowledge or know-how, financial information, plans, customer lists, pricing policies and procedures, marketing data, research and development data, product data, any formula pattern or compilation of information used in the business of the Company or any clients thereof or their affairs. \"Intellectual Property\" means all intellectual and industrial property and all rights therein, including, without limiting the generality of the foregoing, all inventions (whether patentable or not, and whether or not patent protection has been applied for or granted), improvements, developments, discoveries, proprietary information, trademarks, trademark applications, trade names, websites, Internet domain names, logos, slogans, know-how, trade secrets, processes, designs (whether or not registerable and whether or not design rights subsist in them), works in which copyright may subsist (including computer software and preparatory and design materials therefor). \"Month\" means a calendar month. \"Working Day\" means any day excluding Saturdays, Sundays, and statutory holidays. \"Customer(s)\"/\"Clients\" shall mean any individual, corporation, partnership, business, or other entity, whether for-profit or not-for-profit, whose existence and business is known to the Employee as a result of the Employee's access to the Company's business information, Confidential Information, customer lists, customer account information or any other source of information the Employee has access to during its employment. TERM This is a Fixed-Term Agreement. This Agreement will commence on [SPECIFY DATE] and will end on [SPECIFY DATE]. FIXED-TERM APPOINTMENT The Company hereby offers appointment to the Employee for a Fixed Term to serve the Company in the capacity of [CAPACITY OF EMPLOYEE], with effect from [SPECIFY DATE] (the \"Effective Date\") until [SPECIFY DATE]. The Company may conduct a background and a medical check on the Employee, who hereby agrees and assents to the aforesaid offer being made subject to the satisfactory completion of the same. The Employee shall perform their duties at [SPECIFY ADDRESS]. The Employee warrants that, by entering into this Agreement and performing obligations hereunder, the Employee will not be in breach of any terms or obligations under any subsisting agreement, written or oral, with any third party. Notice Period. The Employee will be required to give [NUMBER OF MONTHS] months' notice or salary thereof in case the Employee decides to leave the Company's services. In the event of the Employee having any incomplete assignment, the Company will have the discretion to relieve the Employee only at the end of the [NUMBER OF MONTHS] months' notice period. Similarly, the Company can terminate the Employee's services by giving the Employee [NUMBER OF MONTHS] months' notice or salary thereof. The Company may terminate the Employee's services immediately on disciplinary grounds. Standard Office Hours. The Company's core hours of operation are from [OFFICE HOURS]. DUTIES AND POWERS The Employee's job description and general responsibilities shall be as set forth in \"Annexure A\" and shall include such further duties and responsibilities as the Company may delegate from time to time. The roles and duties of the Employee are not limited to the ones listed in Annexure A, and the same can be modified or altered as per the decision of the Company. The Employee shall perform all such duties as may be delegated by the Company and comply with all such directions as the Officers of the Company and/or his/her nominated deputies may from time to time assign or give to the Employee. The Employee shall, during the Term of this Agreement (unless prevented by ill health or accident or as otherwise agreed by the Company in writing), devote his time and attention and abilities to the employment with the Company and shall use best endeavours to promote and protect the Company's general interests and welfare. The Parties shall fulfill all their obligations by being compliant with the applicable laws. REMUNERATION The Employee shall be paid [SPECIFY MONTHLY SALARY] on a monthly basis. The said salary shall be paid on [DAY] day of each month to the Employee by the Company. The Employee's salary shall be paid through [MODE OF TRANSFER]. The Employee's salary and other benefits shall be subject to compulsory statutory and other deductions, including tax and other contributions that are to be held by the Employee in STATE/PROVINCE]. LEAVE AND HOLIDAYS The Employee shall be entitled to leave in a year as per the leave policy of the Company, which is annexed as Annexure B to the present Agreement. NON-DISCLOSURE, NON-SOLICITATION AND CONFIDENTIALITY As Confidential Information will from time to time become known to the Employee, the Company considers and the Employee agrees that the restraints set forth in this Agreement (on which the Employee has had the opportunity to take independent legal advice) are necessary for the reasonable protection by the Company of its business or the business of the Group, the clients thereof or their respective affairs. The Employee shall not at any time, either during the continuance of or after the termination of employment with the Company, use, disclose or communicate to any person whatsoever any Confidential Information which the Employee has or of which he may have become possessed during the Employee's employment with the Company, nor shall he supply the names or addresses of any clients, customers, vendors or agents of the Company to any person except as authorised by the Company or as ordered by a court of competent jurisdiction. The Employee consents to the Company holding and processing, both electronically and manually, the data it collects in the course of his employment, for the purpose of the Company's administration and management of its employees, its business, and to comply with applicable procedures, laws and regulations. The Employee agrees that he will not at any time during the continuance of employment or on expiry or on termination/cessation of employment with the Company or thereafter, issue any statements to the press (whether oral or written) which have not directly been authorised by the Company. The obligations under this clause shall survive the termination or expiration of this Agreement, and any disclosure of the Confidential Information by the Employee intentionally or unintentionally shall constitute a material breach of the present Agreement, thereby making the Employee liable for the legal action that may be taken by the Company in this regard.","Fixed Term Contract","9",513,"https://templates.business-in-a-box.com/imgs/1000px/fixed-term-contract-D13225.png","https://templates.business-in-a-box.com/imgs/250px/13225.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13225.xml",{"title":112,"description":6},"fixed term contract",[114,116],{"label":23,"url":115},"business-legal-agreements",{"label":23,"url":115},"/template/fixed-term-contract-D13225",{"description":119,"descriptionCustom":6,"label":120,"pages":8,"size":107,"extension":10,"preview":121,"thumb":122,"svgFrame":123,"seoMetadata":124,"parents":126,"keywords":125,"url":131},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":125,"description":6},"non disclosure agreement nda",[127,128],{"label":23,"url":115},{"label":129,"url":130},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":133,"descriptionCustom":6,"label":134,"pages":135,"size":136,"extension":10,"preview":137,"thumb":138,"svgFrame":139,"seoMetadata":140,"parents":141,"keywords":144,"url":145},"NON-COMPETE AGREEMENT This Non-Compete Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: FIRST PARTY NAME] (the \"First Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Second Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] FOR GOOD CONSIDERATION, the receipt of which is hereby acknowledged, the undersigned First party agrees not to compete with Second party, or its successors or assigns.","General Non-Compete Agreement","1",30,"https://templates.business-in-a-box.com/imgs/1000px/general-non-compete-agreement-D882.png","https://templates.business-in-a-box.com/imgs/250px/882.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#882.xml",{"title":6,"description":6},[142,143],{"label":23,"url":115},{"label":23,"url":115},"general non compete agreement","/template/general-non-compete-agreement-D882",{"description":147,"descriptionCustom":6,"label":148,"pages":135,"size":107,"extension":10,"preview":149,"thumb":150,"svgFrame":151,"seoMetadata":152,"parents":154,"keywords":153,"url":159},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: JOB OFFER FOR [DESCRIBE] Dear [CANDIDATE NAME]: Congratulations! [Company name] is excited to offer you the position of [job title] with an expected start date of [day, month, year] at a starting salary of [dollar amount] per [hour, year, etc.]. You can expect to receive payment [weekly, biweekly, monthly, etc.], starting on [date of first pay period]. We must wrap up a few more formalities, including the successful completion of your [background check, drug screening, reference check, etc.]. As the [job title], you will report to [manager/supervisor name and title] at [workplace location] from [hours of day, days of week]","Job Offer Letter Long","https://templates.business-in-a-box.com/imgs/1000px/job-offer-letter-long-D12769.png","https://templates.business-in-a-box.com/imgs/250px/12769.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12769.xml",{"title":153,"description":6},"job offer letter long",[155,157],{"label":17,"url":156},"human-resources",{"label":20,"url":158},"hire-employee","/template/job-offer-letter-long-D12769",{"description":161,"descriptionCustom":6,"label":162,"pages":163,"size":107,"extension":10,"preview":164,"thumb":165,"svgFrame":166,"seoMetadata":167,"parents":169,"keywords":168,"url":174},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: Termination of your employment Dear [Contact name], We regret to inform you that your employment with [YOUR COMPANY NAME] is terminated effective upon receipt of this letter for the following reason(s): [DETAIL REASONS] [DETAIL REASONS] [DETAIL REASONS] Please vacate the premises immediately with your personal possessions. We will forward your salary earned to date in due course together with any vacation pay to which you are entitled. Within [NUMBER] days of termination we shall issue you a statement of accrued benefits. Any insurance benefits shall continue in accordance with applicable law and/or provisions of our personnel policy. Please contact [Name], at your earliest convenience, who will explain each of these items and arrange with you for the return of any company property. Sincerely, [YOUR NAME] [YOUR TITLE] [YOUR PHONE NUMBER] [YOUREMAIL@YOURCOMPANY.COM] [IF SENT BY EMAIL YOU MAY INCLUDE THIS NOTICE]","Employee Dismissal Letter","2","https://templates.business-in-a-box.com/imgs/1000px/employee-dismissal-letter-D508.png","https://templates.business-in-a-box.com/imgs/250px/508.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#508.xml",{"title":168,"description":6},"employee dismissal letter",[170,171],{"label":17,"url":156},{"label":172,"url":173},"Employee Termination","employee-termination","/template/employee-dismissal-letter-D508",false,{"seo":177,"reviewer":189,"legal_disclaimer":193,"quick_facts":194,"at_a_glance":196,"personas":200,"variants":225,"glossary":253,"clauses":287,"how_to_fill":338,"common_mistakes":379,"faqs":404,"industries":435,"comparisons":460,"diy_vs_lawyer":474,"jurisdictions":487,"related_template_ids_curated":508,"schema":515,"classification":516},{"meta_title":178,"meta_description":179,"primary_keyword":180,"secondary_keywords":181},"Employment Agreement Key Employee Template (Free Word)","Free key employee employment agreement template covering compensation, retention bonuses, IP assignment, non-compete, and severance. Used in 190+ countries. Free Word and PDF download.","key employee employment agreement template",[182,183,184,185,186,187,188],"key employee contract template","key employee agreement template free","employment agreement key employee word","senior employee contract template","key staff employment agreement","key employee retention agreement template","key employee contract free download",{"name":190,"credential":191,"reviewed_date":192},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":195,"legal_review_recommended":193,"signature_required":193,"notarization_required":175},"advanced",{"what_it_is":197,"when_you_need_it":198,"whats_inside":199},"An Employment Agreement Key Employee is a legally binding contract between an employer and a senior or mission-critical staff member that goes beyond a standard employment contract to address retention bonuses, enhanced severance, change-of-control protections, and tightly scoped non-compete obligations. This free Word download gives you a professionally structured, attorney-informed starting point you can edit online and export as PDF for execution before the employee's first day.\n","Use it when hiring or formalizing the arrangement with any employee whose departure would materially harm the business — a VP of Sales, lead engineer, founding team member, or any role with deep access to trade secrets, key client relationships, or proprietary technology. It is also appropriate when a standard employment contract lacks the retention mechanics and post-employment protections the role demands.\n","Position and reporting structure, base compensation and bonus structure, retention and signing bonus terms, equity references, enhanced severance and change-of-control provisions, IP assignment, confidentiality, non-compete and non-solicitation restrictions, termination procedures, and governing law.\n",[201,205,209,213,217,221],{"title":202,"use_case":203,"icon_asset_id":204},"Startup founders","Locking in a CTO or VP with retention bonuses before Series A dilution","persona-startup-founder",{"title":206,"use_case":207,"icon_asset_id":208},"HR managers","Standardizing contracts for director-level and above hires with equity","persona-hr-manager",{"title":210,"use_case":211,"icon_asset_id":212},"CEOs and COOs","Securing a critical hire whose departure would disrupt operations or client relationships","persona-ceo",{"title":214,"use_case":215,"icon_asset_id":216},"Corporate counsel","Ensuring IP assignment, non-solicit, and change-of-control clauses are enforceable for senior roles","persona-corporate-counsel",{"title":218,"use_case":219,"icon_asset_id":220},"Private equity owners","Retaining management team members through an acquisition or post-close integration period","persona-private-equity",{"title":222,"use_case":223,"icon_asset_id":224},"Small business owners","Protecting the business when promoting a long-tenured employee into a mission-critical role","persona-small-business-owner",[226,230,234,238,241,245,249],{"situation":227,"recommended_template":228,"slug":229},"Hiring a standard full-time employee below director level","Employment Agreement (At-Will)","employment-agreement_at-will-employee-D541",{"situation":231,"recommended_template":232,"slug":233},"Engaging a C-suite executive with equity, golden parachute, and board reporting","Executive Employment Agreement","employment-agreement-executive-D543",{"situation":235,"recommended_template":236,"slug":237},"Hiring for a defined project or fixed end date","Fixed-Term Employment Contract","fixed-term-contract-D13225",{"situation":239,"recommended_template":90,"slug":240},"Engaging an independent senior specialist without employment status","independent-contractor-agreement-D160",{"situation":242,"recommended_template":243,"slug":244},"Retaining a key employee specifically through a merger or acquisition event","Employee Retention Agreement","employee-retention-guide-D12943",{"situation":246,"recommended_template":247,"slug":248},"Hiring a part-time or hourly senior specialist","Part-Time Employment Contract","temporary-employment-contract-D12734",{"situation":250,"recommended_template":251,"slug":252},"Onboarding a remote key employee in a different country","Remote Work Employment Agreement","remote-work-agreement-D13282",[254,257,260,263,266,269,272,275,278,281,284],{"term":255,"definition":256},"Key Employee","An employee whose specialized knowledge, client relationships, or operational role makes their departure materially harmful to the business.",{"term":258,"definition":259},"Retention Bonus","A cash payment conditional on the employee remaining with the company for a defined period — typically 12 to 24 months — paid as a lump sum or in installments.",{"term":261,"definition":262},"Signing Bonus","A one-time payment made at or shortly after hire, often subject to clawback if the employee leaves within a specified period.",{"term":264,"definition":265},"Change-of-Control Provision","A clause that triggers specific rights or payments — accelerated vesting, enhanced severance, or the right to resign with full severance — upon a merger, acquisition, or change in majority ownership.",{"term":267,"definition":268},"Non-Compete Clause","A post-employment restriction preventing the employee from working for direct competitors or starting a competing business within a defined geography and time period.",{"term":270,"definition":271},"Non-Solicitation Clause","A restriction preventing a departing employee from recruiting the employer's staff or soliciting the employer's clients for a defined period after leaving.",{"term":273,"definition":274},"IP Assignment","A clause transferring ownership of all work product, inventions, and intellectual property created by the employee in connection with their role to the employer.",{"term":276,"definition":277},"Garden Leave","A notice period during which the employee is paid their full salary but is required to stay away from the office and clients, preventing competitive harm during the transition.",{"term":279,"definition":280},"Clawback","A contractual right allowing the employer to recover previously paid bonuses or compensation if specified conditions — misconduct, early departure, or restatement — occur within a defined window.",{"term":282,"definition":283},"Constructive Dismissal","A situation where an employer unilaterally changes a key employee's role, compensation, or conditions to such a degree that the employee is effectively forced to resign, which courts treat as termination.",{"term":285,"definition":286},"Severance Multiplier","The formula used to calculate enhanced severance for key employees — typically expressed as a multiple of base salary, such as 6 or 12 months, rather than the statutory per-year-of-service minimum.",[288,293,298,303,308,313,318,323,328,333],{"name":289,"plain_english":290,"sample_language":291,"common_mistake":292},"Parties, position, and reporting structure","Identifies the employer's legal entity and the employee by full name, states the exact job title, department, and who the employee reports to — including any board or committee reporting for senior roles.","This Employment Agreement is entered into on [DATE] between [EMPLOYER LEGAL NAME], a [STATE/PROVINCE] [ENTITY TYPE] ('Company'), and [EMPLOYEE FULL NAME] ('Employee'). Employee is engaged as [JOB TITLE] reporting to [TITLE / NAME], effective [START DATE].","Using a trade name rather than the registered legal entity name. If the contracting entity doesn't match payroll records and corporate registry filings, enforcing IP assignment or non-compete clauses against the correct entity becomes legally complicated.",{"name":294,"plain_english":295,"sample_language":296,"common_mistake":297},"Compensation, signing bonus, and clawback","States the base salary, payment frequency, signing bonus amount, and the clawback condition — typically requiring repayment on a pro-rated basis if the employee voluntarily resigns within 12 to 24 months of the payment date.","Company shall pay Employee a base salary of $[AMOUNT] per year, payable bi-weekly. Employee shall receive a one-time signing bonus of $[AMOUNT] within [30] days of hire, subject to pro-rated repayment if Employee voluntarily resigns within [24] months of the payment date.","Paying a signing bonus without a written clawback clause. Without it, a departing employee has no contractual obligation to repay, and recovery requires costly litigation.",{"name":299,"plain_english":300,"sample_language":301,"common_mistake":302},"Performance bonus and discretionary bonus language","Defines the annual bonus target as a percentage of base salary, the performance metrics that trigger it, and critically, confirms the bonus is discretionary unless otherwise stated.","Employee is eligible for an annual performance bonus of up to [X]% of base salary, based on achievement of targets set by the Company each year. Payment is at the sole discretion of the Board / CEO and is not earned until paid.","Omitting the word 'discretionary' when a bonus has been paid consistently for multiple years. Courts in several jurisdictions have found that a regularly paid bonus becomes a contractual entitlement even without an explicit written promise.",{"name":304,"plain_english":305,"sample_language":306,"common_mistake":307},"Retention bonus and vesting schedule","Specifies a cash retention incentive paid in installments contingent on the employee remaining actively employed through each vesting date — typically structured as two or three tranches over 12 to 36 months.","Company shall pay Employee a retention bonus of $[TOTAL AMOUNT] in [NUMBER] equal installments of $[INSTALLMENT AMOUNT] on [DATE 1], [DATE 2], and [DATE 3], provided Employee remains actively employed on each payment date. Installments not yet paid are forfeited upon voluntary resignation or termination for Cause.","Failing to define 'actively employed' — employees on unpaid leave, disability, or garden leave may argue entitlement to an installment that the employer intended to withhold.",{"name":309,"plain_english":310,"sample_language":311,"common_mistake":312},"Equity and equity plan reference","References any stock option grant, restricted stock unit award, or profits interest, confirming that the specifics are governed by a separate equity award agreement and the company's equity incentive plan.","Subject to Board approval, Employee shall be granted [NUMBER] stock options / RSUs with an exercise price equal to fair market value on the grant date, vesting [VESTING SCHEDULE], pursuant to the Company's [PLAN NAME] and a separate award agreement.","Including vesting schedules and exercise prices in the employment contract body rather than in a separate award agreement. When plan terms change, the employment contract creates conflicting obligations that require amendment.",{"name":314,"plain_english":315,"sample_language":316,"common_mistake":317},"Change-of-control and double-trigger acceleration","Defines what constitutes a change of control — typically a sale of 50% or more of company equity or assets — and the rights triggered: accelerated equity vesting, enhanced cash severance, or the right to resign with full benefits.","If within [12] months following a Change of Control, Employee's employment is terminated without Cause or Employee resigns for Good Reason, Employee shall receive [X] months' base salary as severance and all unvested equity shall accelerate and vest immediately.","Using single-trigger acceleration — vesting all equity automatically upon a change of control without requiring termination. Acquirers frequently reduce offer prices when they discover single-trigger provisions, and key employees lose the incentive to stay through the integration period.",{"name":319,"plain_english":320,"sample_language":321,"common_mistake":322},"IP assignment and prior inventions carve-out","Assigns all work product and inventions created during employment to the employer, while carving out inventions the employee developed entirely on their own time using no company resources — a legally required exclusion in several US states.","Employee assigns to Company all right, title, and interest in any Inventions conceived, developed, or reduced to practice during employment that relate to the Company's business. Schedule B lists all Prior Inventions Employee retains ownership of as of the date of this Agreement.","No prior inventions schedule at all. An employee who later claims a core product idea was a pre-existing personal invention — and has no signed Schedule B — creates a material IP ownership dispute that can threaten fundraising or an acquisition.",{"name":324,"plain_english":325,"sample_language":326,"common_mistake":327},"Confidentiality and trade secret protection","Prohibits the employee from using or disclosing the company's confidential information during and after employment, and specifies the return or destruction of all confidential materials upon separation.","Employee shall not, during or after employment, use or disclose any Confidential Information without prior written consent. 'Confidential Information' includes trade secrets, source code, customer lists, pricing, financial data, and strategic plans. Upon separation, Employee shall promptly return or certify destruction of all such materials.","Defining confidential information so broadly — 'everything Employee learns about the Company' — that courts apply a reasonableness standard and void the clause entirely, leaving the employer with no protection at all.",{"name":329,"plain_english":330,"sample_language":331,"common_mistake":332},"Non-compete and non-solicitation","Restricts the employee from joining direct competitors, soliciting the employer's customers, or recruiting its employees for a defined period and geography after departure — calibrated to the employee's seniority and actual competitive exposure.","For [12] months following separation, Employee shall not (a) engage in a Competing Business within [GEOGRAPHIC SCOPE], (b) solicit any customer or prospective customer Employee had contact with in the [24] months prior to separation, or (c) recruit or hire any Company employee.","Applying the same non-compete duration and geography to a key employee as to a junior hire. Courts routinely strike down overbroad restrictions as unreasonable; calibrating scope to the role's actual competitive impact produces more consistently enforced clauses.",{"name":334,"plain_english":335,"sample_language":336,"common_mistake":337},"Termination, notice periods, and enhanced severance","States notice requirements for voluntary and employer-initiated termination, defines termination for Cause with specific grounds, and sets the enhanced severance formula payable on termination without Cause — typically a multiple of monthly base salary plus benefit continuation.","Company may terminate this Agreement without Cause on [60] days' written notice. In the event of termination without Cause, Employee shall receive [X] months' base salary as severance, paid in regular payroll installments, and [X] months of continued medical benefits, contingent on execution of a mutual release within [21] days of separation.","No mutual release condition on severance. Paying enhanced severance without requiring a signed release leaves the employer exposed to concurrent employment claims — the employee receives the payment and then sues anyway.",[339,344,349,354,359,364,369,374],{"step":340,"title":341,"description":342,"tip":343},1,"Confirm the employer's registered legal entity name","Look up the company's exact registered name in the applicable corporate registry — state secretary of state, provincial registry, or Companies House. Enter it precisely, not a trade name or DBA.","Cross-reference the name against your payroll and tax filings before execution — mismatches create enforceability gaps on IP assignment and restrictive covenants.",{"step":345,"title":346,"description":347,"tip":348},2,"Define the role, duties, and reporting structure","Enter the job title, department, and direct reporting line. For roles reporting to the board or a committee, name them explicitly. Move granular duties to a Schedule A so the main contract remains stable when responsibilities evolve.","Have the employee initial Schedule A separately at signing to confirm they reviewed the full scope of duties.",{"step":350,"title":351,"description":352,"tip":353},3,"Set base salary, signing bonus, and clawback terms","Enter base salary in the stated currency, payment frequency, and the signing bonus amount. Set the clawback window — typically 12 to 24 months — and confirm whether repayment is pro-rated or full.","For employees relocating to accept the role, pro-rated repayment over 24 months is standard and easier to enforce than a full clawback on month 23.",{"step":355,"title":356,"description":357,"tip":358},4,"Structure the retention bonus tranches","Set the total retention bonus amount and split it into two or three installments tied to specific calendar dates. Define 'actively employed' to include or exclude employees on approved leave, and confirm the forfeiture trigger.","Front-load the largest tranche — pay 60% at 12 months and 40% at 24 months — to create the strongest retention incentive in the first year.",{"step":360,"title":361,"description":362,"tip":363},5,"Draft the change-of-control provision carefully","Define what constitutes a change of control (typically 50%+ ownership transfer or asset sale), choose double-trigger over single-trigger acceleration, and set the severance multiple and benefit continuation period.","Run the change-of-control section by an M&A lawyer or experienced advisor before execution — acquirers scrutinize these clauses in due diligence and poorly drafted provisions reduce deal value.",{"step":365,"title":366,"description":367,"tip":368},6,"Complete the IP assignment and prior inventions schedule","Have the employee list all pre-existing inventions on Schedule B before signing. Review the list for anything that could be confused with the company's core technology or product direction, and address any overlap in writing.","A blank Schedule B is as protective as a completed one if signed — it confirms the employee acknowledges they have no relevant prior inventions to disclose.",{"step":370,"title":371,"description":372,"tip":373},7,"Calibrate non-compete scope to the role","Set the geographic scope to the actual markets the employee will work in — not globally for a regional manager. Set the duration proportionate to seniority: 6 to 12 months for most key employees, up to 18 months for roles with direct access to customer relationships or technology roadmaps.","Remove the non-compete clause entirely for employees working in California, Minnesota, or other jurisdictions that ban post-employment restrictions — replace it with a stronger non-solicitation clause.",{"step":375,"title":376,"description":377,"tip":378},8,"Execute before the start date and store the signed copy","Both parties must sign and date the agreement before the employee's first day of work. Post-start execution in common-law jurisdictions risks voiding restrictive covenants for lack of fresh consideration. Store the fully-executed copy in a secure document repository.","Use an eSign platform to timestamp execution precisely — an exact timestamp is critical evidence if the signing date is ever disputed relative to the start date.",[380,384,388,392,396,400],{"mistake":381,"why_it_matters":382,"fix":383},"Signing after the employee's first day","In common-law jurisdictions — the US, Canada, UK, and Australia — a contract signed after work has already begun lacks fresh consideration for restrictive covenants. IP assignment, non-compete, and clawback clauses signed on or after day one can be voided by a court.","Execute the agreement before or on the morning of the first day. If circumstances require a later signature, document and provide a concrete additional benefit — a cash payment, extra PTO grant, or salary increase — as fresh consideration at the time of signing.",{"mistake":385,"why_it_matters":386,"fix":387},"Single-trigger change-of-control acceleration","Equity that vests automatically on a change of control without requiring termination removes the incentive for the key employee to remain through integration and routinely reduces acquisition offer prices when discovered in due diligence.","Use double-trigger acceleration: vesting accelerates only if both a change of control occurs and the employee is subsequently terminated without cause or resigns for good reason within 12 months of the event.",{"mistake":389,"why_it_matters":390,"fix":391},"No mutual release condition on enhanced severance","Paying an enhanced severance multiple without requiring a signed release leaves the employer exposed to employment claims filed concurrently with or after the severance payment — the employee collects both.","Make enhanced severance contingent on the employee executing a mutual release within 21 days of separation (29 days for employees over 40 in the US, to comply with the ADEA). Include a reimbursement obligation if a claim is later filed.",{"mistake":393,"why_it_matters":394,"fix":395},"Omitting a prior inventions schedule","Without a signed Schedule B, a key employee who later claims that a core product feature or algorithm was their pre-existing personal invention has no documented baseline to refute. This dispute can block fundraising rounds or an acquisition.","Include Schedule B in every key employee agreement and require the employee to complete and sign it at execution, even if the list is blank.",{"mistake":397,"why_it_matters":398,"fix":399},"Using the same non-compete template for all seniority levels","A broad 24-month non-compete covering an entire industry nationally for a regional sales manager is struck down as unreasonable in most jurisdictions, voiding the clause entirely and leaving the employer with no post-employment protection.","Tailor duration, geography, and industry scope to the employee's actual role. A regional manager warrants a regional restriction for 6 to 12 months; a VP with national customer access may warrant a national restriction for 12 to 18 months.",{"mistake":401,"why_it_matters":402,"fix":403},"Retention bonus with no definition of 'actively employed'","An employee on unpaid leave, long-term disability, or garden leave on a vesting date may claim entitlement to a retention installment on the argument that they were never formally separated. Courts have awarded these payments when the contract was silent.","Define 'actively employed' explicitly — typically excluding periods of unpaid leave exceeding 30 days, long-term disability leave, and any notice period served on garden leave — and confirm that installments vest only when the definition is satisfied.",[405,408,411,414,417,420,423,426,429,432],{"question":406,"answer":407},"What is a key employee employment agreement?","A key employee employment agreement is a legally binding contract between an employer and a senior or mission-critical employee that covers all standard employment terms — compensation, duties, termination — plus provisions specific to high-value hires: retention bonuses, signing bonuses with clawbacks, change-of-control protections, accelerated equity vesting, and enhanced severance. It is more detailed and more heavily negotiated than a standard employment contract because the financial and operational stakes of losing the employee are materially higher.\n",{"question":409,"answer":410},"How is a key employee agreement different from a standard employment contract?","A standard employment contract covers the essentials — title, salary, benefits, IP assignment, non-compete, and termination. A key employee agreement adds retention and signing bonuses with clawback provisions, a change-of-control clause that triggers accelerated vesting or enhanced severance on an acquisition, a severance multiple based on salary rather than a per-year-of-service formula, and more precisely drafted restrictive covenants calibrated to the employee's actual competitive exposure. The equity and change-of-control provisions alone make professional legal review advisable before execution.\n",{"question":412,"answer":413},"Who qualifies as a key employee for this type of agreement?","There is no statutory definition of 'key employee' for contract purposes. In practice, the designation applies to any employee whose departure would materially damage the business — typically VP-level and above, technical founders, lead engineers on core IP, sales leaders with primary customer relationships, and any employee with access to trade secrets whose recruitment by a competitor would cause direct harm. The agreement is also appropriate for long-tenured employees being promoted into critical roles.\n",{"question":415,"answer":416},"Are retention bonuses legally enforceable?","Retention bonuses are generally enforceable when supported by a written agreement that clearly states the payment amount, vesting dates, and forfeiture conditions. The clawback provision — requiring repayment of a signing or early retention installment on early voluntary departure — is also enforceable in most jurisdictions when the repayment formula is clearly stated and the amount is reasonable relative to the employee's compensation. Courts occasionally scrutinize clawbacks that effectively trap an employee below market compensation if they stay, so the retention amount should be genuinely additive.\n",{"question":418,"answer":419},"What is double-trigger acceleration and why does it matter?","Double-trigger acceleration means that unvested equity accelerates and vests only when two events both occur: a change of control of the company and a subsequent involuntary termination or constructive dismissal of the employee within a defined window — typically 12 months. Single-trigger acceleration vests equity on the change of control alone, regardless of what happens to the employee. Double-trigger is strongly preferred by acquirers because it preserves the retention incentive through integration and avoids inflating the acquisition cost with an immediate equity payout.\n",{"question":421,"answer":422},"Are non-compete clauses in key employee agreements enforceable?","Enforceability depends entirely on jurisdiction and the scope of the restriction. California, Minnesota, North Dakota, and Oklahoma ban most post-employment non-competes regardless of seniority. In jurisdictions that permit them, courts enforce restrictions that are reasonable in duration — typically 6 to 18 months for senior roles — geographic scope, and breadth of restricted activity. Broader restrictions are either blue- pencilled to a reasonable scope or voided entirely, depending on the state or country. Non-solicitation clauses covering customers and colleagues are generally more consistently enforced than non-competes and should always be included as a backstop.\n",{"question":424,"answer":425},"How much severance should a key employee agreement include?","Key employee severance is typically expressed as a salary multiple rather than the statutory per-year-of-service formula used in standard contracts. Common ranges are 3 to 6 months' base salary for director-level roles and 6 to 12 months for VP-level and above, with 12 to 24 months triggered by a change-of-control termination. Any formula must meet or exceed statutory minimums in the governing jurisdiction — in Canada, the UK, and EU member states, statutory floors apply regardless of what the contract says. In the US, there is no federal statutory severance requirement, but enhanced amounts are market standard for key hires.\n",{"question":427,"answer":428},"Does a key employee agreement need to be reviewed by a lawyer?","For most key employee hires, a one-to-two-hour template review by an employment lawyer is advisable and typically costs $300 to $800. Legal review becomes essential when the employee works in a jurisdiction with complex employment law — California, Ontario, the UK, France, or Germany — when the equity provisions are material and negotiated, when the change- of-control provisions interact with an M&A transaction, or when the non- compete must withstand scrutiny in a competitive market. The cost of a review is consistently less than the cost of litigating an ambiguous clause.\n",{"question":430,"answer":431},"What happens if the agreement is signed after the employee starts work?","In common-law jurisdictions — the United States, Canada, the United Kingdom, and Australia — a contract requires fresh consideration to be enforceable. An employee who is already working has given nothing new in exchange for post-start restrictions. Courts have voided IP assignment, non-compete, and clawback clauses on this basis. The fix is to execute the agreement before day one. If that is not possible, provide documented additional consideration — a cash payment, salary increase, or bonus — at the time of signing and reference it explicitly in the agreement.\n",{"question":433,"answer":434},"What is a good reason resignation provision and why is it included?","A 'good reason' resignation provision allows the employee to resign and still receive full severance — as though they were terminated without cause — if the employer takes specific adverse actions: materially reducing the employee's base salary, significantly diminishing their role or reporting level, relocating their primary work location beyond a defined distance, or failing to cause a successor company to assume the agreement following an acquisition. The provision protects the key employee from constructive dismissal without compensation and gives the employer a defined, manageable list of actions to avoid in order to preserve the employment relationship.\n",[436,440,444,448,452,456],{"industry":437,"icon_asset_id":438,"specifics":439},"Technology / SaaS","industry-saas","IP assignment covers source code, algorithms, and training data; double-trigger equity acceleration referenced alongside a separate option agreement; non-compete scoped to direct SaaS competitors in the relevant product category.",{"industry":441,"icon_asset_id":442,"specifics":443},"Financial Services","industry-fintech","FINRA or FCA registration conditions as employment prerequisites; bonus clawback provisions aligned with regulatory compensation recoupment rules; enhanced confidentiality covering client data and trading strategies.",{"industry":445,"icon_asset_id":446,"specifics":447},"Healthcare / Life Sciences","industry-healthtech","HIPAA confidentiality obligations incorporated by reference; IP assignment explicitly covering clinical data, biomarkers, and regulatory filings; non-solicitation covering key referring physicians or research partners.",{"industry":449,"icon_asset_id":450,"specifics":451},"Manufacturing","industry-manufacturing","Trade secret protection for proprietary processes and formulations is the primary driver; non-compete geography typically aligned to specific regional markets rather than global; safety certification and licensing conditions precedent to full duties.",{"industry":453,"icon_asset_id":454,"specifics":455},"Professional Services","industry-professional-services","Client non-solicitation is the most commercially critical clause given fee-based relationships; billing targets and utilization rates may be referenced as performance bonus triggers; non-compete duration calibrated to client relationship cycles.",{"industry":457,"icon_asset_id":458,"specifics":459},"Private Equity / Portfolio Companies","industry-private-equity","Management retention packages tied to hold period milestones; change-of-control provisions aligned with projected exit timeline; equity roll-over provisions referenced in a separate management incentive plan.",[461,464,467,470],{"vs":462,"vs_template_id":229,"summary":463},"Standard employment contract","A standard employment contract covers the core employment terms for a typical hire — salary, duties, IP assignment, non-compete, and termination. A key employee agreement adds retention bonuses, signing bonus clawbacks, change-of-control protections, equity acceleration provisions, and enhanced severance multiples. Use the standard contract for roles below director level; use this agreement when the employee's departure would materially harm the business or where negotiated retention incentives are part of the offer.",{"vs":465,"vs_template_id":233,"summary":466},"Executive employment agreement","An executive employment agreement targets C-suite and board-reporting officers — CEO, CFO, CTO — and adds D&O indemnification, golden parachute provisions, detailed equity negotiation, and often involves board approval. A key employee agreement is appropriate for VP-level and senior director roles that are mission-critical but below C-suite, where the retention mechanics are important but the governance and indemnification layers of an executive agreement are not warranted.",{"vs":468,"vs_template_id":240,"summary":469},"Independent contractor agreement","An independent contractor agreement engages a self-employed professional for project-based work with no employment entitlements — no benefits, no withholding, no severance. A key employee agreement creates a full employment relationship with all associated statutory obligations. Misclassifying a key employee as a contractor to avoid retention costs exposes the business to back taxes, benefit liability, and penalties in every major jurisdiction.",{"vs":471,"vs_template_id":472,"summary":473},"Employee retention agreement","D{RETENTION_AGREEMENT_ID}","An employee retention agreement is a standalone document focused exclusively on incentivizing an existing employee to stay through a specific event — a merger, system migration, or ownership transition — via a time-vested cash payment. A key employee employment agreement is the primary governing contract for the entire employment relationship, of which retention mechanics are one component. Use a standalone retention agreement when you need to add retention incentives to an existing contract without renegotiating the full agreement.",{"use_template":475,"template_plus_review":479,"custom_drafted":483},{"best_for":476,"cost":477,"time":478},"Director-level domestic hires in a single US state or Canadian province where equity provisions are minimal","Free","30–45 minutes",{"best_for":480,"cost":481,"time":482},"VP-level hires, roles with material equity or change-of-control provisions, or any hire in California, Ontario, the UK, or EU jurisdictions","$400–$900","2–4 days",{"best_for":484,"cost":485,"time":486},"C-adjacent roles with multi-million-dollar retention packages, cross-border employment, or agreements tied to an active M&A transaction","$2,000–$6,000+","1–3 weeks",[488,493,498,503],{"code":489,"name":490,"flag_asset_id":491,"note":492},"us","United States","flag-us","At-will employment is the default in 49 states, but key employee agreements routinely displace at-will status with notice-based termination and enhanced severance. Non-compete enforceability varies sharply by state — California, Minnesota, and Oklahoma ban most post-employment restrictions, making a robust non-solicitation clause the primary protection in those states. ADEA requires a 21-day review period and 7-day revocation window for releases signed by employees over 40. Several states require a prior inventions carve-out in IP assignment clauses.",{"code":494,"name":495,"flag_asset_id":496,"note":497},"ca","Canada","flag-ca","At-will employment does not exist in Canada — notice-based termination is mandatory, and contractual severance must meet or exceed provincial Employment Standards Act minimums. Ontario common-law notice can reach one month per year of service for long-tenured key employees, making an explicit severance cap in the contract commercially important. Quebec agreements must be in French for provincially-regulated employers. Non-competes are enforceable only if reasonable in duration, geography, and scope — restrictions exceeding 12 months face significant scrutiny.",{"code":499,"name":500,"flag_asset_id":501,"note":502},"uk","United Kingdom","flag-uk","Employers must provide a written statement of employment particulars on or before day one. Garden leave clauses are well-established and routinely enforced for key employees during notice periods, making them an effective alternative to non-competes. Post-termination non-competes are enforceable if reasonable and supported by adequate consideration — typically the role itself if signed at hire. Enhanced severance payments may attract income tax rather than receiving the first £30,000 tax-free threshold treatment if they are contractually guaranteed.",{"code":504,"name":505,"flag_asset_id":506,"note":507},"eu","European Union","flag-eu","The EU Transparent and Predictable Working Conditions Directive requires written employment terms within seven days of hire. Post-employment non-competes typically require financial compensation to the employee — ranging from 25% to 100% of salary depending on the member state — to be enforceable. GDPR applies to any personal data collected or processed under the agreement, including performance monitoring and background check records. France, Germany, and the Netherlands impose particularly strict termination and notice requirements that must be reflected in any key employee agreement covering employees in those countries.",[229,233,240,237,509,510,511,512,252,513,248,514],"non-disclosure-agreement-nda-D12692","general-non-compete-agreement-D882","job-offer-letter-long-D12769","employee-dismissal-letter-D508","employee-handbook-D712","separation-agreement-D13184",{"emit_how_to":193,"emit_defined_term":193},{"primary_folder":115,"secondary_folder":517,"document_type":518,"industry":519,"business_stage":520,"tags":521,"confidence":527},"employment-and-contractors","agreement","general","all-stages",[522,523,524,525,526],"non-compete","employment-agreement","key-employee","retention","severance",0.95,"\u003Ch2>What is an Employment Agreement Key Employee?\u003C/h2>\n\u003Cp>An \u003Cstrong>Employment Agreement Key Employee\u003C/strong> is a legally binding contract between an employer and a senior or mission-critical employee that governs every material dimension of a high-value employment relationship — job title, base salary, retention and signing bonuses with clawback provisions, equity plan references, change-of-control protections, IP assignment, confidentiality, non-compete and non-solicitation restrictions, and an enhanced severance formula. Unlike a standard employment contract, it is specifically designed for employees whose departure would cause material harm to the business: VPs, lead engineers, senior sales leaders, and founding team members who carry client relationships or proprietary knowledge that cannot easily be replaced. This free Word download gives you a structured, professionally drafted starting point you can edit online and export as PDF for execution before the employee's first day.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a key employee employment agreement, you are exposed across every dimension simultaneously. A departing VP of Sales with no non-solicitation clause can call every client they served on their way out the door. A lead engineer who was never asked to sign an IP assignment may claim that the algorithm powering your product belongs to them — a dispute that can halt a funding round or acquisition in due diligence. A key hire who received a $50,000 signing bonus and resigned four months later has no contractual obligation to repay without a written clawback clause. And a change-of-control event that accelerates equity for every key employee without a double-trigger provision can reduce your acquisition price by millions before the deal closes. A properly executed key employee agreement, signed before the first day of work, closes all of these gaps for the cost of a template and, where the stakes warrant it, a focused legal review.\u003C/p>\n",1781186024560]