Sample Liquidated Damages Clause In Employment Contract
Description
How to fill out Liquidated Damage Clause In Employment Contract Addressing Breach By Employee?
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FAQ
In the employment law context, liquidated damages are a statutory remedy for victims of certain unlawful employment discrimination or wage violations. Liquidated damages are a fixed amount defined by the statutes that authorize them, commonly equal to the plaintiff's back pay award.
Sample liquidated damages clause: In the event of delay in type of project completion, the performing party shall pay liquidated damages to the owner in the amount of dollar amount per day/week, etc. or "X" percent of the total contract price per day/week, etc..
A liquidated damages example would be a contractor that failed to complete a construction project on time and is charged daily until the project has been finished.
In order to determine a per diem liquidated damage amount, MWRA then divided each contract's proportionate share of the extended costs by an estimate of how long each contract would take to perform.
An example of this would be how a contract for a university dorm rental may state: Students who cancel their dormitory housing agreement after moving into their room shall pay liquidated damages amounting to $5.00/day for the remainder of the rental term (not to exceed $500.00).
