A License Agreement with Regard to Occupancy by Employee of Residence Owned by Corporate Employer is a contract between the employer and the employee that outlines the terms and conditions of the employee's occupancy of a residence owned by the corporate employer. This agreement typically covers the duration of the employee's occupancy, the amount of rent to be paid to the employer, any restrictions on the use of the residence, and the consequences of breaching the agreement. There are two main types of License Agreement with Regard to Occupancy by Employee of Residence Owned by Corporate Employer: a “Full License Agreement” and a “Limited License Agreement”. A Full License Agreement is an agreement between an employer and an employee that grants the employee full rights to occupy the residence owned by the corporate employer. This agreement usually includes an agreed-upon amount of rent to be paid by the employee, which may or may not be the same as the amount of rent paid by other tenants. It also outlines any restrictions on the use of the residence, such as no pets, no smoking, or a limit on the number of occupants. A Limited License Agreement is a less comprehensive agreement between an employer and an employee that grants the employee limited rights to occupy the residence owned by the employer. This agreement typically sets a lower rent amount than that set in a Full License Agreement, and does not include any restrictions on the use of the residence. It is often used when the employee is only occupying the residence for a short period of time.