What is an employment contract?
Employment contracts are written (and sometimes oral – implied contracts) agreements between an employer and an employee. Generally, employment contracts contain binding terms regarding employment, term, compensation, benefits, covenants not to compete (“non-compete”) agreements, protective rules for trade secrets, and perhaps non-disclosure agreements.
Employment contracts can describe the responsibilities and duties of the position and evaluation standards, etc. An employment contract also may limit when the employee can leave her position or when the employer can terminate the employee. Violating or breaching an employment contract may mean paying out damages unless rights or defenses to such termination exist.
Do you need an attorney to help review an employment contract?
Consult an attorney before signing or drafting an employment contract to ensure you know what will be expected under the contract.
Employment contract law is very complex and often confusing area of the law. An attorney can help you understand the risks related to certain employment contract provisions. By having an attorney review your contract, you can feel better about performing your obligations and to the extent possible, potentially negotiate better contract terms in the process.