Executive Employment Agreement (Medium Form)
This Medium Form Executive Employment Agreement:
- Specifies the terms of an executive’s employment.
- Outlines the payments and benefits to which the executive will be entitled during the executive’s employment.
- Outlines the payments and benefits to which the executive will be entitled following the executive’s termination of employment.
- Requires the executive to enter into a separate agreement restricting their competitive activities following the termination of their employment.
Employers and prospective executives heavily negotiate executive employment agreements, and thus, these documents can have significant tax and securities consequences. The company may also have to publicly disclose the agreement if both:
- The company is required to file reports with the Securities and Exchange Commission (SEC); and
- The agreement is for a senior executive.
Before the negotiation process begins, the company should carefully consider the different types of provisions that can be included in the employment agreement. How the company ultimately addresses these provisions depends on the negotiation process and the circumstances applicable to the company and the executive.
This document is a medium-form version of this agreement. As such, this document does not include every provision that may be found in a long form version of this agreement. For example, this employment agreement does not include a change in control severance provision.
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