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Setting an Asking PriceUsing a Business BrokerSelling a Business During DivorceSelling a Failing BusinessTransferring Intellectual PropertyPreparing an Online Business for SalePreparing for Sale, Two Years OutSelling a Business QuicklyWriting a Selling MemorandumSelling a Business Step by StepSelling a Business With DebtChanges Worth Making Before SellingAt-will employment · Draft for review
Use this for a W-2 employee hire. Non-compete enforceability varies significantly by state (some, like California, bar them almost entirely) — verify current law in the applicable state before relying on Section 8, and adjust or remove it as needed.
This Employment Agreement (“Agreement”) is entered into as of , by and between (“Company”) and (“Employee”).
1.1 Position. Company employs Employee in the position of , reporting to . Employee will perform the duties customarily associated with this position and any additional duties reasonably assigned by Company.
1.2 Full-Time Effort. Employee will devote their full business time and best efforts to Company’s business, and will not engage in outside employment or consulting that conflicts with Employee’s duties without Company’s prior written consent.
1.3 Start Date. Employee’s employment begins on .
2.1 At-Will Status. Employee’s employment is at-will, meaning either Employee or Company may terminate the employment relationship at any time, with or without cause and with or without notice, subject to Section 7. Nothing in this Agreement alters Employee’s at-will status or guarantees employment for any specific term.
3.1 Base Salary. Company will pay Employee a base salary of per year, payable in accordance with Company’s standard payroll practices, subject to applicable withholding.
3.2 Bonus. Employee is eligible for a discretionary annual bonus of up to of base salary, based on individual and Company performance, as determined by Company in its sole discretion.
3.3 Equity. No equity award is granted under this Agreement.
4.1 Employee Benefits. Employee is eligible to participate in Company’s standard benefit plans (health insurance, retirement plan, paid time off) on the same terms as similarly situated employees, subject to plan terms and eligibility requirements.
4.2 Paid Time Off. Employee accrues days of paid time off per year, in accordance with Company’s PTO policy.
5.1 Confidential Information. Employee will not, during or after employment, disclose or use Company’s confidential and proprietary information (including client/patient data, financials, business plans, and trade secrets) for any purpose other than performing their duties for Company.
6.1 Assignment. Employee assigns to Company all right, title, and interest in any inventions, works of authorship, and other intellectual property Employee creates within the scope of their employment or using Company resources, both during and (for work related to Company’s business) after employment ends. This does not apply to inventions Employee developed entirely on their own time without using Company resources or trade secrets and unrelated to Company’s business, to the extent excluded by applicable state law.
6.2 Assistance. Employee will assist Company, at Company’s expense, in obtaining and enforcing intellectual property protection for assigned inventions, both during and after employment.
7.1 Termination by Either Party. Either Party may terminate the employment relationship at any time, consistent with the at-will provision in Section 2.
7.2 Final Pay. Upon termination, Company will pay all earned but unpaid wages and accrued, unused PTO in accordance with applicable state law.
7.3 Severance. No severance is payable under this Agreement.
8.1 Non-Solicitation of Employees. During employment and for months after termination, Employee will not solicit Company’s employees to leave their employment.
8.2 Non-Solicitation of Clients. During employment and for months after termination, Employee will not solicit Company’s clients or patients with whom Employee had material contact during employment, for the purpose of providing competing services.
8.3 Non-Compete. Intentionally omitted. The Parties have agreed no post-employment non-compete applies.
9.1 Governing Law. This Agreement is governed by the laws of the State of .
9.2 Entire Agreement. This Agreement, together with any equity award or confidentiality agreement referenced above, is the entire agreement between the Parties regarding Employee’s employment terms and supersedes all prior discussions on that subject.
9.3 Amendment. This Agreement may be amended only in a writing signed by both Parties.
9.4 Severability. If any provision — including any restrictive covenant — is held unenforceable or overbroad, a court may modify it to the minimum extent necessary to make it enforceable, and the remaining provisions remain in effect.