Offer Letter/Executive Employment Agreement
Offer Letter/Executive Employment Agreement Preparation Form – We recommend that you gather the information in this form prior to accessing the online questionnaire. Doing so will help you efficiently create your custom Offer Letter/Short-Form Executive Employment Agreement.
This document outlines the general terms and conditions of an executive’s proposed employment. Once an employer decides to offer the applicant a position, the employer can send this letter to the applicant. The applicant must then sign the agreement upon confirming that the terms are acceptable. Importantly, this agreement is less formal than a comprehensive employment agreement. Therefore, employers should use this Offer Letter as a stand-alone document in lieu of a formal employment agreement. Nevertheless, employers should include all material terms.
While the format of executive offer letters can vary widely, they should generally contain at least the following employment terms:
- The position offered and the duties associated with it.
- The base pay offered and its frequency or the schedule of payments.
- Any additional cash compensation offered, such as a signing bonus or annual target bonus and the payment schedule.
- Any equity compensation offered or eligibility to participate in the employer’s equity plans.
- The employee benefits and perquisites offered.
- A statement that the executive’s employment is at-will rather than for a specific term.
- A representation from the executive that the executive is not subject to any restrictions from a current or former employer that would prevent the executive from performing the obligations of the position.
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