Illinois Retention Agreement between Dialdata S.A. Internet Systems and Antonio Alberto Valente Tavares

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9429
• Format: Word; Rich Text

Description

Retention Agreement between Dialdata S.A. Internet Systems and Antonio Alberto Valente Tavares dated December 29, 1998. 10 pages.

Illinois Retention Agreement between Dial data S.A. Internet Systems and Antonio Alberto Valente Tavares: A Comprehensive Overview Keywords: Illinois retention agreement, Dial data S.A. Internet Systems, Antonio Alberto Valente Tavares. Introduction: An Illinois Retention Agreement is a legally binding document that outlines the terms and conditions governing the relationship between Dial data S.A. Internet Systems, a prominent technology company, and Antonio Alberto Valente Tavares, an individual employed by Dial data. This agreement aims to retain Tavares's expertise, knowledge, and services in order to bolster the organization's success and maintain a competitive edge in the industry. Types of Illinois Retention Agreements: 1. Standard Retention Agreement: This type of agreement is the most common and involves the retention of the employee's services within a defined timeframe. It outlines the responsibilities, compensation, and benefits that Tavares is entitled to during the retention period. Both parties agree to honor the terms outlined in the agreement, ensuring a mutually beneficial relationship. 2. Performance-based Retention Agreement: In certain cases, Dial data may offer a performance-based retention agreement to Tavares. This type of agreement emphasizes achieving specific goals or targets set by the company. The agreement generally outlines performance benchmarks and incentivizes Tavares based on their ability to meet or exceed these goals. Rewards may include bonuses, equity, or other forms of compensation. 3. Succession Planning Retention Agreement: In the event that Tavares holds a key or critical position within Dial data, a succession planning retention agreement may be offered. This agreement is put in place to ensure a smooth transition of responsibilities in case Tavares decides to leave the organization. It outlines the terms and conditions of the transition process, the identification and training of a successor, and any additional compensation or benefits Tavares may receive for their assistance in the succession process. Key Components of an Illinois Retention Agreement: 1. Term: The agreement clearly specifies the duration for which the retention agreement is valid and in effect. 2. Compensation and Benefits: Details regarding Tavares's compensation package, including salary, bonuses, incentives, and benefits such as healthcare, retirement plans, and vacation time, are incorporated in the agreement. 3. Non-Compete and Non-Disclosure Clauses: To protect Dial data's proprietary information, trade secrets, and client base, the retention agreement may include provisions that prevent Tavares from working for or disclosing sensitive information to competitors during their employment and for a specified period after its termination. 4. Termination or Renewal: The circumstances and conditions for terminating or renewing the agreement are outlined, ensuring transparency and setting expectations for both parties. 5. Dispute Resolution: A clear mechanism for resolving potential disputes or disagreements is included in the agreement to ensure a fair and efficient resolution process. Conclusion: Illinois Retention Agreements between Dial data S.A. Internet Systems and Antonio Alberto Valente Tavares serve as crucial instruments for establishing and maintaining a mutually beneficial professional relationship. Whether it is a standard, performance-based, or succession planning retention agreement, these documents outline the terms, responsibilities, compensation, and benefits to protect both parties' interests while ensuring the growth and success of the organization.