This post will address employment law considerations that should be discussed in the due diligence phase of a proposed acquisition. Employment contracts typically set out the term or length of employment, compensation and benefits, job duties, and circumstances for termination.Asset Sales A to Z: Drafting the Purchase Agreement. In an asset purchase, the purchaser only acquires the assets and liabilities it identifies and agrees to acquire and assume from the seller. A Minnesota employment contract should be internally consistent and integrate smoothly with all parallel contracts entered into at the same time (e.g. Whether you are transferring assets or shares, the contracts must adhere to both federal and Minnesota-specific laws. Use the contract search tool on OSP's website. Purchasing Goods and Services (excluding construction).