If you are entering into negotiations related to an employment contract in Florida, it is important for you to understand the range of topics that your contract may include. A contract for employment can go a lot farther than simply stipulating that a specific company is going to hire a specific person.
As explained by Forbes, an employment contract may begin with some of the basic information such as a person's title and an overview of the responsibilities the person would be tasked with. Details about potential moves up or down in the organization may also be included. Compensation is commonly one of the topics employees and employers alike are interested in solidifying before finalizing a new hire agreement. However, compensation may include a lot more than just an annual salary.
An employment contract may lay out provisions for periodic bonuses and even an initial bonus payable upon the signing of the contract. The latter is sometimes offered in cases where an employee knowingly cedes other benefits from a previous position in order to accept the new position. Other perks or benefits such as stock options or equity grants may also be outlined in an employment contract. If so, details involving how to exercise options, vesting periods and more should also be clearly spelled out in the contract.
This information is not intended to provide legal advice but is instead meant to give Florida residents an overview of what types of topics and provisions may be included in an employment contract.