[Company Name], hereinafter referred to as the "Company," and [Executive Vice President and Chief Financial Officer's Name], hereinafter referred to as the "Executive," hereby enter into this Sample Employment Agreement (the "Agreement") in accordance with the laws of the District of Columbia. 1. Engagement: The Company agrees to employ the Executive as the Executive Vice President and Chief Financial Officer, and the Executive agrees to serve the Company in such capacity, effective [Start Date]. This Agreement shall continue until terminated as described in Section [Termination of Employment]. 2. Position and Duties: The Executive shall be responsible for overseeing all financial aspects of the Company's operations, including budgeting, financial planning, accounting, and reporting. The Executive shall also support the CEO in strategic decision-making, participate in board meetings, and supervise finance teams. Additional duties may be assigned based on the Company's requirements. 3. Term of Employment: The initial term of this Agreement shall be [Number of years] commencing on the Start Date mentioned in Section 1. The Agreement will automatically renew for successive [Number of years] terms, unless either party provides written notice of non-renewal at least [Number of days] prior to the expiration date. 4. Compensation and Benefits: The Executive shall receive a base salary of [Amount] per year, payable in accordance with the Company's regular payroll schedule. In addition to the base salary, the Executive shall be eligible for performance-based bonuses, equity awards, and benefits as per the Company's policies. 5. Confidentiality and Non-Compete: The Executive acknowledges and agrees to protect the Company's confidential information, trade secrets, and proprietary intellectual property during and after the employment relationship. The Executive shall also refrain from engaging in any competition or solicitation of the Company's employees, customers, or partners for a specified period after termination. 6. Termination of Employment: This section outlines the circumstances under which either party may terminate the employment relationship, including termination for cause, termination without cause, resignation, or retirement. Severance pay, notice periods, and post-termination obligations may vary based on the type of termination. 7. Governing Law and Jurisdiction: This Agreement shall be governed, construed, and interpreted under the laws of the District of Columbia. Any legal action or proceedings arising out of or relating to this Agreement shall be settled exclusively in the federal or state courts located in the District of Columbia. 8. Entire Agreement: This Agreement constitutes the entire understanding between the Company and the Executive with respect to the terms and conditions of employment. Any modifications or amendments to this Agreement must be made in writing and signed by both parties. Note: It's important to consult legal professionals or use official templates when creating an employment agreement to ensure compliance with specific laws and regulations in the District of Columbia. The above description serves as a broad guideline but may require customization according to specific needs and legal requirements.
District of Columbia Sample Employment Agreement between Telocity, Inc. and Executive Vice President and Chief Financial Officer
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The term cause has no uniform definition. However, agreements typically define it as ?willful or gross misconduct, moral turpitude, failure to perform duties, or breach of fiduciary duty.? Less frequently, sexual harassment, substance abuse or incompetence are specifically included as grounds for termination for cause. The Cause And Effect Of 'For Cause' Employment Clauses zuckerman.com ? sites ? default ? files ? Th... zuckerman.com ? sites ? default ? files ? Th...
A ?good reason? definition typically defines actions that might impact an employee's ability to go to the acquiring company, for example, if following the acquisition the workplace will move more than 50 miles.
An agreement can be informal or it may be written; a contract may be verbal or written, but a contract will always be enforceable if it contains certain requirements. Modern contract management software takes an agreement and puts in the legal requirements that formally turn an agreement into a contract. Agreement vs. Contract: What's the Difference? - Ironclad ironcladapp.com ? journal ? contracts ? agreemen... ironcladapp.com ? journal ? contracts ? agreemen...
A. : a reason for an action or condition : motive. b. : something that brings about an effect or a result. trying to find the cause of the accident.
An executive employment agreement is a legal contract between an employer and an executive that outlines the terms of their working relationship. These agreements include information about salary, benefits, stock options or awards, vacation time allotment and more. Executive Employment Agreement: Definition & Sample Contracts Counsel ? executive-employ... Contracts Counsel ? executive-employ...
(law, ethics) For a legitimate, specific reason; with justification.
An employment contract should include: Terms of employment: Duration, job role, responsibilities, and probationary period. Compensation and benefits: Salary, bonuses, benefits, and any other allowances. Termination clauses: Grounds for termination, notice periods, and severance pay. Employment contract template - Workable resources workable.com ? employment-contract-te... workable.com ? employment-contract-te...
Generally speaking, an employee who is fired for cause is being terminated for their misconduct. They could have broken the law, violated an important company policy, or made a serious mistake or lapse in judgment that put the company at risk.