Puerto Rico Proposal to ratify an Executive Employment Agreement with copy of agreement

State:
Multi-State
Control #:
US-CC-15-148L
Format:
Word; 
Rich Text
Instant download

Description

This is a Proposal to Ratify an Executive Employment Agreement, which may be used across the United States. It is an Employment Agreement between corporation and its Chief Executive Officer that includes a stock option.
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  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement
  • Preview Proposal to ratify an Executive Employment Agreement with copy of agreement

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FAQ

Sections Execute an Employment Agreement for Every Executive. Specify Compensation Terms and Conditions Clearly. State Termination and Severance Conditions. Protect Your Intellectual Property. Focus on Writing With Clarity and Simplicity.

Written employment contracts are not required. However, many employers use them when hiring for a high-level or professional position. Most written employment contracts will describe the scope and duties of the job in addition to the salary and any other compensation or benefits.

Furthermore, there are various types of leave of absence and protections against discrimination provided by statutory laws. It is important to note that as an unincorporated territory of the United States, federal labor and employment laws also apply in Puerto Rico.

Because Puerto Ricans are U.S. citizens, they have an advantage in competitive labor markets over foreign workers who require a visa in order to be employed in the U.S.A. U.S. companies need skilled tradespeople as well as entry-level workers who receive training on the job.

Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.

The Minimum Wage, Vacation, and Sick Leave Act of Puerto Rico (Minimum Wage Act) was enacted in 1998. The Minimum Wage Act establishes that the federal minimum wage fixed by the Fair Labor Standards Act (FLSA) applies automatically to non-exempt employees in Puerto Rico who are covered by the FLSA.

Puerto Rico's Fixed Term Contract Act 80 defines the ?temporary employment contract? and the ?term employment contract.? If valid, these contracts for fixed periods form an exception to the ?just cause? requirement of the Unjust Dismissal Act. Though a written contract is not required it remains advisable.

? PUBLIC LAW 87 AUTHORIZATION TO RECRUIT AND TRANSPORT ? It is unlawful for any person, any organization, or the agent of a person or organization, to recruit or transport laborers for employment outside Puerto Rico without authorization by the labor secretary.

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Puerto Rico Proposal to ratify an Executive Employment Agreement with copy of agreement