The Guaranteed Employment Contract is a specialized employment agreement designed for use in the Nigerian business environment where organizations need to secure the long-term commitment of key personnel. This contract type is particularly relevant when hiring senior executives, technical specialists, or other vital employees where job security is a crucial negotiating factor. The document complies with Nigerian employment law requirements, including the Labour Act and related regulations, while providing enhanced employment protection through guaranteed terms. It typically includes comprehensive provisions covering employment duration, termination restrictions, performance requirements, compensation packages, and specific guarantees regarding job security. This contract type is often used in situations requiring significant investment in an employee's development or when seeking to attract high-caliber talent in competitive industries.

1. Parties: Identification of the employer and employee with full legal names and addresses

2. Background: Context of the employment relationship and purpose of the guaranteed employment contract

3. Definitions: Definitions of key terms used throughout the contract

4. Term of Employment: Duration of the guaranteed employment period and any renewal provisions

5. Position and Duties: Job title, role description, and primary responsibilities

6. Place of Work: Primary work location and any mobility requirements

7. Working Hours: Standard working hours, overtime provisions, and work schedule

8. Remuneration: Base salary, payment schedule, and method of payment

9. Benefits: Standard benefits package including pension, health insurance, and other statutory benefits

10. Leave Entitlements: Annual leave, sick leave, public holidays, and other types of leave

11. Performance Requirements: Performance standards, evaluation criteria, and review process

12. Confidentiality: Obligations regarding company confidential information

13. Intellectual Property: Ownership of work products and innovations created during employment

14. Non-Competition: Restrictions on competing activities during employment

15. Termination: Grounds for termination and procedures, including guaranteed employment provisions

16. Dispute Resolution: Process for resolving employment-related disputes

17. Governing Law: Specification of Nigerian law as governing law

18. General Provisions: Miscellaneous legal provisions including entire agreement, amendments, and notices