Executive employment agreement

Applicable state law is taken into account.

Executive employment agreement term sheet

The benefits of entering into a written employment agreement include: Setting out and recording the terms of an executive's employment. The Company may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling. This Agreement and Executive's employment may be terminated by Company at its discretion at any time after the Initial Term, provided that in such case, Executive shall be paid [Severance Pay After Initial Term] of Executive's then applicable base salary. Structuring how severance will be paid can help your company avoid financial devastation; consider providing severance in payments at particular intervals rather than in a lump sum. Who Cares? Executive may terminate this Agreement at any time without Good Reason, as defined in Article 4. In the event Company is acquired, or is the non-surviving party in a merger, or sells all or substantially all of its assets, this Agreement shall not be terminated and Company agrees to use its best efforts to ensure that the transferee or surviving company is bound by the provisions of this Agreement. In the event of such a discretionary termination, Executive shall not be entitled to receive any incentive salary payment or any other compensation then in effect, prorated or otherwise.

You should leverage as much as you can while still being responsive and attentive to your employee. Expert advice is sought on the tax and other legal issues related to the payments, benefits and restrictions in the agreement.

Even details such as to whom the executive should report should be thoughtfully considered and included.

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Term of Agreement. Who Cares? Such holidays must be taken during the calendar year and cannot be carried forward into the next year.

Executive employment agreement indemnification

The benefits provided to Executive in this Agreement shall offset substantially similar benefits provided to Executive pursuant to another Company policy, plan or agreement including without limitation the Symantec Corporation Executive Severance Plan and the Symantec Corporation Executive Retention Plan. DeVore is chair of the firm's Lender Representation Practice Group as well as co-chair of the firm's Credit Union Team and works closely with a number of credit unions on regulatory and lending issues. Company will pay all automobile operating expenses incurred by Executive in the performance of an Executive's company duties. Duties—This is one of the most basic provisions contained in the agreement, as it outlines the activities, among other things, for which an executive is responsible. Employment Rights. At its core, an executive employment agreement is a formal and binding contract between a company and an employee with significant management experience. The benefits of entering into a written employment agreement include: Setting out and recording the terms of an executive's employment. Practice Notes. Company will notify Executive on or about the beginning of each calendar year with respect to the holiday schedule for the coming year.

Duties of Executive. Board Membership.

ceo employment agreement pdf

The Company may provide pay in lieu of such notice, in which event, the effective date of termination will be the date of payment. The Company may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling.

Company hereby agrees to initially employ Executive as its [Office Title] and Executive hereby accepts such employment in accordance with the terms of this Agreement and the terms of employment applicable to regular employees of Company.

Executive shall be entitled to sick leave and emergency leave according to the regular policies and procedures of Company.

Ceo employment contract example

For purposes of section A of the Code, each payment made under this Agreement shall be treated as a separate payment. The benefits, if any, that will be provided to the employee should be included as well. Employment Rights. Serving as a valuable recruitment tool by committing to pay certain compensation during the term and on termination. As a general rule, forms are intended to be a rough sketch, and as such, they should not be taken as a complete and final picture. Any notice required by this Agreement or given in connection with it, shall be in writing and shall be given to the appropriate party by personal delivery or by certified mail, postage prepaid, or recognized overnight delivery services; If to Company:. Executive will be eligible to participate in the Company employee benefit plans, policies and arrangements that are applicable to other executive officers of the Company, as such plans, policies and arrangements may exist from time to time and on terms at least as favorable as provided to any other executive officer of the Company. Additional sick leave or emergency leave over and above paid leave provided by the Company, if any, shall be unpaid and shall be granted at the discretion of the board of directors. The duties of Executive shall include the performance of all of the duties typical of the office held by Executive as described in the bylaws of the Company and such other duties and projects as may be assigned by a superior officer of the Company, if any, or the board of directors of the Company.

Executive will be paid compensation during this Agreement as follows: A.

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Executive Employee Agreement by and between the Company, Charles W. Berger