Contract Employee Corporation

An employment contract or an employment agreement sets forth the terms of employment between a company and its employee. For executives, employment agreements may provide the job title, the duties associated with the position, the location of employment and any reporting responsibilities. In terms of compensation, the contract should specify the base salary, as well as any bonuses or benefits for which the employee is eligible. Some contracts include a provision for severance payments in the event the employer terminates the employment without cause or good reason. The contract may also require that disputes between the parties be subject to arbitration, and specify the law governing the agreement, as well as the venue for resolving such disputes.