Employment Agreements for Real Estate Company
Our client, a company specializing in real estate development, construction, and management in the Philadelphia region, sought to expand its management team.
In order to protect its interests, we were retained by our client to draft employment agreements for these newly hired members of its management team.
We began our representation by interviewing our client as to the issues that were important to it. As most employers, it wanted to memorialize the parties’ expectations about compensation, which included a bonus structure based on our client’s annual net profits.
In the employment agreements, we included a description of the newly hired employees’ job duties and expectations and specified that it would be required to work exclusively for our client during the term of the employment agreement and could not render services to any other person or entity or engage in other outside business activity. We also included a provision in the employment agreements, confirming the employment relationship as an “at-will” one which would give either party the flexibility to terminate it upon advanced notice.
In drafting the employment agreements, we made sure to include an extensive confidentiality provision to protect our client’s intellectual property. To further protect our client, the employment agreements included a provision in which the employees acknowledged our client’s right to an injunction in the event of a breach of the confidentiality provision.
To protect our client from the potential of costly litigation, we included an arbitration provision in the employment agreements, mandating arbitration of any dispute between the parties, as well as a provision for recovery of legal fees and costs in the event that our client prevailed during any such dispute between the parties.
Natalie was instrumental in assisting me as I managed the growth of my team at Resnick Development. The employment agreements that she prepared protected my interests when bringing on new people.
- Lawrence Resnick, Resnick Development Co.
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