Connecticut Agreement for Continuing Services of Retiring Executive Employee as a Consultant

• Category: Employment - Consultants
• State: Multi-State
• Control #: US-0176BG
• Format: Word; Rich Text

Description

This form is an agreement between a retiring employee and the company. Included in the agreement is an agreement not to disclose trade secrets of the client such as inventions, products, processes, machinery, apparatus, prices, discounts, costs, business affairs, future plans, or technical data.

The Connecticut Agreement for Continuing Services of Retiring Executive Employee as a Consultant is a legal contract primarily used in Connecticut to formalize the relationship between a retiring executive employee and their former employer, where the executive employee continues to provide consulting services to the company post-retirement. This agreement outlines the terms and conditions of the consultancy arrangement, ensuring clarity and protection for both parties involved. The following are the main components typically included in a Connecticut Agreement for Continuing Services of Retiring Executive Employee as a Consultant: 1. Parties involved: Clearly identify the parties involved in the agreement, including the retiring executive employee and the employer or company they previously worked for. 2. Effective date: Specify the date from which the agreement will be in effect. 3. Term of agreement: Define the duration of the consultancy engagement, stating the start and end dates. This can be a fixed term or indefinite, subject to mutual agreement. 4. Scope of services: Outline the specific consulting services that the retiring executive employee will provide to the company, highlighting the areas of expertise or focus. 5. Compensation: Detail the compensation and payment terms agreed upon for the consulting services. This may include a fixed fee or an hourly/daily rate, as well as the schedule and method of payment. 6. Expenses: Clarify which party will bear expenses related to the consulting services, such as travel, accommodations, or material costs. 7. Non-compete and non-solicitation clauses: Include provisions that restrict the retiring executive employee from engaging in activities that may compete with or solicit business from the company, ensuring protection for the employer's interests. 8. Confidentiality and intellectual property: Emphasize the importance of maintaining confidentiality and protecting the company's intellectual property during and after the consultancy period. Specify that any work product developed by the retiring executive employee during the engagement belongs to the company. 9. Termination clause: Define the circumstances under which either party can terminate the agreement, including notice periods and any associated penalties or obligations. 10. Governing law and dispute resolution: Indicate that the agreement will be governed by the laws of Connecticut and specify the mechanism for resolving any disputes that may arise. Different types of Connecticut Agreement for Continuing Services of Retiring Executive Employee as a Consultant may exist based on the specific terms, requirements, or variations sought by the parties involved. Examples include agreements tailored to different industries, such as healthcare, finance, or technology, or agreements designed for different levels of retiring executive employees, such as C-suite executives or department heads. It is essential to carefully review and customize the agreement to meet the unique needs of the situation and comply with relevant legal provisions.