This contract contains a covenant not to compete. Restrictions to prevent competition by a present or former employee are held valid when they are reasonable and necessary to protect the interests of the employer. For example, a provision in an employment contract which prohibited an employee for two years from calling on any customer of the employer called on by the employee during the last six months of employment would generally be valid. Courts will closely examine covenants not to compete signed by individuals in order to make sure that they are not unreasonable as to time or geographical area.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Wisconsin Employment Agreement with Vice President of Sales and Manufacturing of Company that Manufactures and Repairs Motorcycles: The Wisconsin Employment Agreement with the Vice President of Sales and Manufacturing of a Company that Manufactures and Repairs Motorcycles outlines the terms and conditions of employment between the company and its senior executive. This agreement is designed specifically for manufacturing and motorcycle repair companies operating in the state of Wisconsin. Here are some essential aspects and types of employment agreements: 1. General Overview: The agreement includes a detailed description of the position, highlighting the executive's role and responsibilities within the company, specifically focusing on sales and manufacturing of motorcycles. It also states the effective date of employment, terms of agreement, and the duration of the contract. 2. Compensation and Benefits: The employment agreement outlines the compensation package for the Vice President of Sales and Manufacturing, including base salary, commission or incentive structures, bonuses, and other fringe benefits such as healthcare, retirement plans, and vacation or leave entitlements. It may also specify any profit-sharing or stock options available to the executive. 3. Non-Disclosure and Non-Compete: To protect the company's trade secrets, the employment agreement may include non-disclosure clauses, preventing the executive from divulging proprietary information or using it for personal gain. Additionally, a non-compete clause may restrict the executive from joining or establishing a competing business within a certain geographic area and for a specific duration after the employment terminates. 4. Termination and Severance: The agreement should outline the conditions under which either party can terminate the employment relationship, such as violation of company policies, performance issues, or mutual agreement. It may also include severance provisions, specifying the compensation and benefits applicable in case of termination without cause or for reasons outlined in the agreement. 5. Intellectual Property Rights: Given the nature of manufacturing and repair businesses, the agreement may address intellectual property rights. It should outline that any inventions, patents, designs, or developments made by the executive during their employment will be the sole property of the company. Different types of Wisconsin Employment Agreement with Vice President of Sales and Manufacturing of Company that Manufactures and Repairs Motorcycles may include: 1. Fixed-Term Employment Agreement: This agreement has a specific duration, usually for a set number of years, after which it automatically terminates, or parties negotiate a renewal. Fixed-term agreements provide clarity regarding the duration and conditions of employment. 2. At-Will Employment Agreement: In contrast to a fixed-term agreement, an at-will agreement allows either party to terminate the employment relationship at any time, with or without cause or notice. This type of agreement provides flexibility but still ensures compliance with relevant employment laws and regulations. 3. Performance-based Employment Agreement: This type of agreement is focused on aligning the executive's compensation and benefits with predetermined performance metrics or targets, such as sales revenue, market share growth, or manufacturing efficiency. It can be used to incentivize high performance and motivate the executive to achieve specific goals. In summary, the Wisconsin Employment Agreement with the Vice President of Sales and Manufacturing of a Company that Manufactures and Repairs Motorcycles is a comprehensive contract that covers various aspects of the employment relationship. Different types of agreements may be used based on the specific requirements and objectives of the company and the executive involved.
