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Generally, the candidate has indicated that he or she is going to accept the position, under the stated terms, before the drafting of the letter. Do regard the position acceptance as tentative, however, until the offer letter, and therefore the confidentiality agreement, if you employ one, are signed.
Executive Job Offer Letter
This job letter is made for high level of executive Executive contracts are sometimes much more lengthy then those of the typical employee Thus agreements reached can be cover everything from the compensation, movi
ng expenses, and signing bonus to many dollars in severance packages and stock options. Executive pay can range from approximately $100,000 to many dollars.
Frequently, an executive who has verbally agreed to employment offer hires an attorney who prepares the paperwork. In these instances, the chief contract are often 30-100 pages long and define every possible condition of employment.
The employer prepares its standard executive employee contract.
During negotiations, the senior employee then takes this employer-offered contract to her attorney who adds clauses to guard her interests. within the end, the employer and employee comply with the contract terms regardless of who initiated the contract's first draft. The executive contract protects the far-reaching rights of the employee; it also protects the interests of the corporate .
The goal of negotiating an executive contract is for the chief to urge the maximum amount as she will . At an equivalent time, she doesn't want to go away the potential employer feeling as if they lost the negotiation. It is strongly recommended that you simply simply consult your attorney about any job offer that you made to any senior team members starting at the associate director level.
Executive Team Member Job Offer Letter Template
Name
Address
City, State, Zip
Dear Name of Candidate:
It is my pleasure to increase the subsequent offer of employment to you on behalf of (your company name). This offer is contingent upon passing our mandatory drug screen, Receipt of college transcripts, and (If any other contingencies you will wish to submit).
Title:
Reporting Relationship: The position will report back to (Name and Title):
________________________________________
Bonus (or Commission) Potential:
Effective upon satisfactory completion of the primary 90 days of employment, and based upon the goals and objectives agreed to within the performance development planning process together with your manager, you'll be eligible for a bonus. The bonus plan for this year and beyond, should such an idea exist, are going to be supported the formula determined by the corporate for that year.
Signing Bonus:
$10,000 payable during the primary pay period.
Non-Compete Agreement:
Our standard non-compete agreement must be signed before your start date.
Benefits:
the present , standard company health, life, disability, and dental coverage are generally supplied per company policy. Eligibility for other benefits, including the 401(k) and tuition reimbursement, will generally happen per company policy. Employee contribution to buy benefit plans is decided annually.
Car Allowance:
$500.00 per month car allowance will generally be provided.
Stock Options :
Spell out any options which will be available for purchase by the chief . Spell out any options or other stock vehicles that the chief is eligible.
Stock Buy-Back Provisions:
Detail how the chief 's stock are going to be repurchased by the corporate if the executive leaves the employer for any reason aside from cause.
Severance Pay:
If the chief is abandoning by the corporate for any reason aside from a cause (for example, violence, theft, fraudulent activities, harassment, then forth), the corporate can pay the chief six months of salary and canopy COBRA expenses for the executive's family during an equivalent period of time . Payment is due during a payment upon termination or is payable in regular pay periods over the six months. (Determine the small print of the severance package.)
Expenses :
Spell out any moving or other transition expenses the corporate can pay .
Vacation and private Emergency day off
Vacation is accrued at x.xx hours per pay period, which is like four weeks of paid day off on an annual basis. Personal emergency days are generally accrued per company policy.
Phone/Travel Allowance
Normal and reasonable expenses are going to be reimbursed on a monthly basis per company policy and upon completion of the acceptable expense request form.
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Start Date
Month, Date, Year
Your employment with (Company Name) is at-will and either party can terminate the connection at any time with or without cause and with or all of sudden .
You acknowledge that this offer letter, (along with the ultimate sort of any referenced documents (such as a Stock Repurchase Plan, description , Bonus Goals, then forth.), represents the whole agreement between you and (Company Name) which no verbal or written agreements, promises or representations that aren't specifically stated during this offer, are or are going to be binding upon (Company Name).
If you're in agreement with the above outline, please sign below. This offer is in effect for (generally, five business days).
Signatures:
_________________________________________
(For the Company: Name)
_________________________________________
Date
_________________________________________
(Candidate's Name)
_________________________________________
Date
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