Executive Employment Agreement


Overview
- The Executive Employment Agreement is used when a company hires an individual for a senior management position.
- In many cases, a company's executives work "at will" like any other employee in the company.  However, companies often desire to have a written employment agreement with key executives, to make sure that each is as committed as possible to the company's business. 
- The executive may also want a written employment agreement.  A written agreement can help to assure the executive that the company's promises to pay bonuses, severance or other special consideration are fully enforceable.
- The Executive Agreement includes terms often found in agreements for employment of senior managers such as the annual base salary, an annual incentive salary based on the profits of the company, life insurance and a company car.
- The agreement does not include provisions for granting stock options or paying deferred compensation.  
- The Internal Revenue Code has very specific rules governing stock options and other special compensation matters.  If you are considering an employment agreement involving stock options or other special compensation features, you should consult with an attorney knowledgeable about income tax matters.

When You Need It
- To document the terms and conditions of employment of a senior executive in a company, such as a President or an important Vice-President.


Getting Started

You will need:
- Name and address of the Employer.
- Name and address of the Employee.
- All details regarding the terms of the employment relationship.

When to Review and Revise 
- To correct the information contained in the Agreement.
- To document another executive employment agreement.