City, State, Zip
It is my pleasure to extend the following offer of employment to you on behalf of (your company name). This offer is contingent upon your passing our mandatory drug screen, our receipt of your college transcripts, and (any other contingencies you may wish to state).
Reporting Relationship: The position will report to (Name and Title):
Job Description and Goals or Objectives are attached.
Base Salary: Will be paid in bi-weekly installments of $_________, which is equivalent to $_______ on an annual basis, and subject to deductions for taxes and other withholdings as required by law or the policies of the company.
Bonus (or Commission) Potential: Effective upon satisfactory completion of the first 90 days of employment, and based upon the goals and objectives agreed to in the performance development planning process with your manager, you may be eligible for a bonus. The bonus plan for this year and beyond, should such a plan exist, will be based on the formula determined by the company for that year.
Signing Bonus:$10,000 payable during the first pay period.
Non-Compete Agreement: Our standard non-compete agreement must be signed prior to start.
Benefits: The current, standard company health, life, disability and dental insurance coverage are generally supplied per company policy. Eligibility for other benefits, including the 401(k) and tuition reimbursement, will generally take place per company policy. Employee contribution to payment for benefit plans is determined annually.
Car Allowance$500.00 per month car allowance will generally be provided.
Stock Options: Spell out any options that may be available for purchase by the executive. Spell out any options or other stock vehicles for which the executive is eligible.
Stock Buy Back ProvisionsDetail how the executive's stock will be repurchased by the company if the executive leaves the employer for any reason other than cause.
Severance Pay If the executive is let go by the company for any reason other than cause (ie. violence, theft, fraudulant activities, harassment, etc.), the company will pay the executive six months of salary and cover COBRA expenses for the executive's family during the same time period. Payment is due in a lump sum upon termination or is payable in regular pay periods over the six months. (Determine the details of the severance package.)
Expenses: Spell out any moving or other transition expenses the company will pay.
Vacation and Personal Emergency Time Off: Vacation is accrued at x.xx hours per pay period, which is equivalent to four weeks on an annual basis. Personal emergency days are generally accrued per company policy.
Phone/Travel Allowance: Normal and reasonable expenses will be reimbursed on a monthly basis per company policy and upon completion of the appropriate expense request form.
Start Date: _________________________________________________
Your employment with (Company Name) is at-will and either party can terminate the relationship at any time with or without cause and with or without notice.
You acknowledge that this offer letter, (along with the final form of any referenced documents (such Stock Repurchase Plan, Job Description, Bonus Goals, etc.), represents the entire agreement between you and (Company Name) and that no verbal or written agreements, promises or representations that are not specifically stated in this offer, are or will be binding upon (Company Name).
If you are in agreement with the above outline, please sign below. This offer is in effect for (generally, five business days).
(For the Company: Name)