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An employment contract is an agreement that covers the working relationship of a company and an employee. 1feff It allows both parties to clearly understand their obligations and the terms of employment.Salary or wages: Contracts will itemize the salary, wage, or commission that has been agreed upon.
It's illegal to refuse to pay an employee until the employee returns keys, badges or whatever other company property the employee may have at home. To make things worse, the employee may sue your organization related to his or her terminationperhaps even using your property to search for a lawyer!
For example, your return of company property letter should include how many days the employee has to return the property, the date of their termination, what items they need to return, and where they need to return them to.
Company Property means all items and materials provided by the Company to the Executive, or to which the Executive has access, in the course of his employment, including, without limitation, all files, records, documents, drawings, specifications, memoranda, notes, reports, manuals, equipment, computer disks,