 |
Ten Key
Contract Considerations |
|
 |
A Written Contract or No Written Contract. That is the Question
Don't panic. Your employment is based in the legal concept of contract. It may be oral, written or partly both. |
 |
The One Way Street
Many written employment contracts presented by employers look after their interests; but who's looking after yours? |
 |
Looking for Leverage
If you have some leverage, recognize it, understand it, utilize it - negotiate! Don't settle for "standard form". |
 |
The Letter U
Undue influence, unequal bargaining power, and unconscionability can all undermine the enforceability of a written employment contract. |
 |
Promises, Promises, Promises
Many employment contracts have a clause which confirms that the written terms are the entire agreement between the parties. If the promise to promote, increase salary, grant stock options etc. isn't in writing, forget about it. |
 |
The Old Switch-A-Roo
Your employer comes to you well after you've started work and presents you with a new, written employment contract. What's going on and what's in it for you? |
 |
Nailing Down the Dollars
You will want to ensure all aspects of compensation are clearly spelled out including base salary, salary increases, fringe benefits, bonus plans, stock options, profit sharing, commissions, car allowance and expenses. |
 |
If It Goes South
Relationships, particularly employment ones, are rarely forever. The employment contract allows you to plan for an orderly and fair break up. Termination provisions should never be ignored or minimized. |
 |
The Next Chapter
Will you have the freedom to move to future employment of your choice or will restrictive covenants present a road block. Beware of non-competition and non-solicitation clauses. |
 |
How Will I Know?
When your prospective or current employer presents you with
an employment contract get experienced, competent advice. Make
informed and practical business decisions. |
| For further information or legal advice contact Grosman, Grosman & Gale LLP at (416) 364-9599. The law firm has provided employment and labour law advice for both employers and employees in Ontario for over 25 years. |
