Arkansas Key Employee Agreement
Description
How to fill out Key Employee Agreement?
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FAQ
An employment agreement is a contract between an employer and employee that outlines the terms and conditions of the working relationship. An employment agreement is also referred to as an employment contract, contract of employment, job contract, or employee contract.
A key employee is an employee with major ownership and/or decision-making role in the business. Key employees are usually highly compensated either monetarily or with benefits, or both. Key employees may also receive special benefits as an incentive both to join the company and to stay with the company.
Essential Elements of an Employment Contract Terms of employment. The terms make up one of the most important elements. ... Compensation and benefits. ... Job description. ... Employment absence. ... Non-disclosure/confidentiality agreement. ... Termination and severance.
(1) Key employee (A) In general The term ?key employee? means an employee who, at any time during the plan year, is? (i) an officer of the employer having an annual compensation greater than $130,000, (ii) a 5-percent owner of the employer, or (iii) a 1-percent owner of the employer having an annual compensation from ...
An employment contract typically includes the following elements: Duration of employment, if applicable. Salary or wages. General job responsibilities. Work schedule. Benefits. Confidentiality. Non-compete agreement. Severance pay, if applicable.
Key Employee Agreement means an agreement entered into between the Company (or an Affiliate) and a Participant that protects confidential information and sets forth other terms and conditions of employment with the Company (or an Affiliate).
A. Arkansas recognizes the doctrine of ?employment at will?. This means that, as a general rule, either the employer or the employee may end the employment relationship at any time for any reason or for no reason at all. There are, however, a number of exceptions to this general rule under state and federal law.
