The Lifetime Employment Contract is primarily used in situations requiring exceptional commitment between employer and employee, often in traditional or family-owned businesses, or for key executive positions. While relatively rare in the US employment landscape, these contracts are structured to provide job security while maintaining compliance with US employment laws. The document typically includes detailed provisions for long-term compensation, benefits, performance expectations, and specific circumstances under which the relationship can be terminated. Care must be taken to ensure the contract doesn't conflict with at-will employment doctrine while still providing the intended security.
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1. Parties: Identification and details of employer and employee
2. Background: Context of the employment relationship and reason for lifetime commitment
3. Definitions: Key terms used throughout the agreement including definition of 'lifetime', 'cause', and other critical concepts
4. Term and Duration: Specification of lifetime commitment and any qualifying conditions
5. Duties and Responsibilities: Employee's role, obligations, and performance expectations
6. Compensation and Benefits: Salary, benefits, and compensation adjustment mechanisms
7. Termination Provisions: Grounds for termination, process, and consequences
8. Governing Law: Specification of applicable state law and jurisdiction
1. Relocation Terms: Used when position may require geographical mobility
2. Intellectual Property Rights: IP ownership and protection provisions for creative or technical positions
3. Non-Competition: Restrictions on competing activities for senior positions or specialized roles
4. Disability and Incapacity: Provisions for handling long-term disability or incapacity
5. Succession Planning: Provisions for role evolution and career progression
1. Schedule A - Job Description: Detailed outline of role and responsibilities
2. Schedule B - Benefits Package: Comprehensive list of benefits and entitlements
3. Schedule C - Performance Metrics: Specific performance expectations and measurement criteria
4. Schedule D - Compensation Structure: Detailed breakdown of salary components and adjustment mechanisms
5. Schedule E - Required Certifications: List of required professional certifications and qualifications
Relevant legal definitions
Agreement
Cause
Company
Compensation
Confidential Information
Disability
Effective Date
Employee
Employer
Employment Period
Good Reason
Intellectual Property
Just Cause
Lifetime Employment
Material Breach
Normal Retirement Age
Notice Period
Performance Standards
Permanent Incapacity
Position
Retirement
Severance Benefits
Termination Date
Total Disability
Work Product
Workplace
Working Hours
Cause
Company
Compensation
Confidential Information
Disability
Effective Date
Employee
Employer
Employment Period
Good Reason
Intellectual Property
Just Cause
Lifetime Employment
Material Breach
Normal Retirement Age
Notice Period
Performance Standards
Permanent Incapacity
Position
Retirement
Severance Benefits
Termination Date
Total Disability
Work Product
Workplace
Working Hours
Clauses
Term and Duration
Scope of Employment
Duties and Responsibilities
Compensation and Benefits
Annual Review Process
Retirement Provisions
Performance Standards
Confidentiality
Intellectual Property Rights
Non-Competition
Non-Solicitation
Work Location
Working Hours
Vacation and Leave
Health and Safety
Insurance Coverage
Pension Rights
Termination Provisions
Just Cause Definition
Severance Terms
Dispute Resolution
Amendment Procedures
Representations and Warranties
Force Majeure
Governing Law
Assignment Rights
Succession Planning
Death Benefits
Disability Provisions
Notice Requirements
Scope of Employment
Duties and Responsibilities
Compensation and Benefits
Annual Review Process
Retirement Provisions
Performance Standards
Confidentiality
Intellectual Property Rights
Non-Competition
Non-Solicitation
Work Location
Working Hours
Vacation and Leave
Health and Safety
Insurance Coverage
Pension Rights
Termination Provisions
Just Cause Definition
Severance Terms
Dispute Resolution
Amendment Procedures
Representations and Warranties
Force Majeure
Governing Law
Assignment Rights
Succession Planning
Death Benefits
Disability Provisions
Notice Requirements
Relevant Industries
Relevant Teams
Relevant Roles
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