05 02 CONTRACT FOR EMPLOYMENT

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

05-02 CONTRACT FOR EMPLOYMENT

CONTRACT FOR EMPLOYMENT

THIS EMPLOYMENT AGREEMENT (this "Agreement") is entered into by and between [employer name] (the "Company") and [Employee name] ("Employee") on this [day] day of [month, year].

In exchange for the mutual covenants and agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Company and Employee agree as follows:

Section 1. Employment.

(a) Term. Company hereby employs Employee to serve as a [job title] of Company until such employment is terminated as provided herein. Employee's employment with Company is at-will.

(b) Duties and Responsibilities. Employee shall be responsible for performing all of the obligations and duties of the [job title] assigned to him or her by Owner of Company.

(c) Location. The initial principal location at which Employee shall perform services for Company shall be [workplace address] (the "Workplace") or such other locations as are necessary to perform the Employee's duties.

(d) Workweek and Hours. [describe work week schedule].

Section 2. Compensation. Subject to the terms and conditions of this Agreement, Employee shall be paid an annual salary of $[base salary amount] ("Base Salary"), payable in [number of installments] installments consistent with Company's payroll practices.

Section 3. Other Employment Benefits.

(a) Paid Time Off. Employee shall be entitled to [number of yearly days off] days paid time off per year; it being understood and agreed that Company reserves the right to approve or deny day-off requests in its sole discretion.

(b) No Other Benefits. Employee understands and acknowledges that the compensation specified in Sections 2 and 3 of this Agreement shall be in lieu of any and all other compensation, benefits and plans.

Section 4. Provision of Office Space, Equipment and Other Necessary Items. Company shall furnish, as it reasonably deems necessary and appropriate, office space, equipment, supplies, and support personnel for the Employee's duties under the terms of this Agreement at the Workplace.

Section 5. Termination of Employment.

(a) For Cause. Notwithstanding anything herein to the contrary, Company may immediately terminate Employee's employment hereunder for cause for any one of the following reasons: (i) the willful breach by the Employee of any term or condition of this Agreement or any other agreement in which the Employee performs services for or on behalf of Company; (ii) the demonstration by the Employee of material and repeated dishonesty, gross incompetence, gross negligence or willful misconduct in Employee's business dealings with or on behalf of Company or in...