An employment agreement or employment contract is a legal agreement between the employer and employee that governs the terms of employment. Employment agreements are most common in executive level positions. Prior to accepting a position with a firm, an executive should have his or her employment law attorney negotiate a contract that outlines such things as the job responsibilities, pay, performance bonuses, and may include a “golden parachute” that pays the executive money or stock if he or she is terminated. This agreement protects the employee. At a minimum, the executive should have an attorney review the employment agreement itself to make sure that the protections the company has offered are actually enforceable in the North Carolina courts.
To learn more about employment agreements, contact Van Kampen Law.