Employment Agreement with Staf Accountant
Employment agreement made ___________ (date) , between
_____________________ (Name of Employer) , a professional corporation
organized and existing under the laws of the state of _________________
(name of state), with its principal ofce located at
________________________________________________________ (street
address, city, state, zip code) , referred to herein as Employer, and
(Name of Employee) , of (street address, city, state, zip code) , referred
to herein as Employee.
Whereas, Employer is organized under
___________________________________ (e.g., Article 15 of the New York
Code regarding Professional Service Corporations) to render
professional public accounting services through those of its employees
who are duly licensed to practice public accounting in the State of
_______________ (Name of State); and
Whereas, Employee is a certifed public accountant duly licensed and
authorized to practice practice public accounting in the State of
_________________ (Name of State); and
Whereas, Employee desires to accept employment to practice public
accounting as an Employee of Employer; and
Whereas, the Board of Directors of Employer has ofered Employee
employment for such compensation and other benefts and under the
terms and conditions set forth in this Agreement, and Employee is
willing to accept and does accept employment on such terms and
conditions;
Now, therefore, for and in consideration of the matters described
above, and of the mutual benefts and obligations set forth in this
Agreement, the parties agree as follows:
I. Employment and Duties. Employee's duties include, but are
not limited to, the following:
A. Performing accounting services for various corporate and
individual clients, from initial budgeting to preparing corporate,
partnership, trust, estate or individual tax returns;
B. Acting as liaison between with advisory services, in-house
accounting departments of clients and/or business executives;
and assisting in preparing audited, reviewed or compiled fnancial
statements.
C. Employer shall have the power to determine the specifc
duties to be performed by Employee, and the means and the
manner by which those duties shall be performed. Employer shall
have the power to determine the assignment of clients to
Employee, and Employee must perform services for such clients
assigned to him.
D. The power to supervise the duties to be performed, the
manner of performing such duties, and the terms for performance
of such duties shall be exercised by the Board of Directors of
Employer. Hours of employment shall be determined by Employer
within reasonable standards within the profession, except that
Employee shall not be compelled to work longer than a work
week that is normal in the accounting profession.
E. Employee shall, if elected, serve as a director and/or ofcer
of Employer at no additional compensation other than as
expressly provided in this Agreement.
G. Employee shall devote his full working time and attention to
the practice of public accounting for Employer. During the term of
this Agreement, Employee shall not, without the written consent
of Employer, directly or indirectly render services of a public
accounting nature to or for any person or frm for compensation,
or engage in any practice that competes with the interest of
Employer.
H. Employee shall perform his duties under this Agreement in
accordance with the all rules and regulations promulgated by
Employer, the American Institute of Certifed Public Accountants,
and the ______________ (Name of State) State Society of Certifed
Public Accountants.
II. Term. The term of this Agreement shall begin on the above-
stated efective date, and shall continue until terminated as provided
in this Agreement.
III. Compensation.
A. Basic Salary. For all services rendered by Employee under
this Agreement, Employer shall pay Employee a basic salary of
$____________ per year, payable monthly in 12 equal installments
beginning on the efective date of this Agreement and payable on
the ______ (ordinal number) day of each month during the term of
this Agreement. The basic salary may be changed by mutual
Agreement of the parties at any time.
B. Fringe benefts. As further consideration for the
performance by Employee under and pursuant to this Agreement,
Employer shall, within a reasonable time after the efective date
of this Agreement, at the sole discretion of the Board of Directors,
provide for Employee the benefts described in Employer's
Personnel Manual, which is subject to modifcation form time to
time, without notice.
IV. Expenses. During the term of this Agreement, Employer shall
pay all reasonable business expenses of Employee in accordance with
Employer's Personnel Manual and the general policy of Employer
including, but not limited to, _______________________
________________________________________________ (describe business
expenses) .
V. Malpractice Insurance. Employer shall purchase and maintain
at its expense such comprehensive professional liability insurance
coverage as it shall deem appropriate, covering the acts or omissions
of Employee in the normal course of his employment.
VI. Office Facilities. Employer shall operate and maintain facilities,
and shall provide at its expense, equipment and supplies, suitable to
Employee's position and adequate for the performance of his duties
under and pursuant to this Agreement. Further, Employer shall supply
and pay for secretarial personnel reasonably needed by Employee in
connection with his employment under and pursuant to this
Agreement.
VII. Records and Files. All records and personal fles
concerning clients of Employer shall belong to and remain the property
of Employer. On termination of his employment, Employee shall not be
entitled to keep or reproduce Employer's records related to any client
unless the client shall specifcally request that his or her records be
transmitted to Employee.
VIII. Fees. All fees and compensation received or realized as a result
of the rendition of professional accounting services by Employee under
and pursuant to this Agreement shall belong to and be paid and
delivered to Employer.
IX. Other Employment. Employee shall devote all of his time,
attention, knowledge, and skills solely to the business and interest of
Employer, and Employer shall be entitled to all of the benefts, profts,
or other issues arising from or incident to all work, services of
Employee, and Employee shall not, during the term of this Agreement,
be interested directly or indirectly, in any manner, as partner, ofcer,
director, shareholder, advisor, Employee, or in any other capacity in
any other business similar to Employer's business; provided, however,
that nothing contained in this Section shall be deemed to prevent or to
limit the right of Employee to invest any of his money in the capital
stock or other securities of any corporation whose stock or securities
are publicly owned or are regularly traded on any public exchange, nor
shall anything contained in this Section be deemed to prevent
Employee from investing or limit Employee's right to invest his money
in real estate.
X. Employee’s Inability to Contract for Employer . In spite of
anything contained in this Agreement to the contrary, Employee shall
not have the right to make any contracts or commitments for or on
behalf of Employer without frst obtaining the express written consent
of Employer.
XI. Vacation. Employee shall be entitled to v acation each year
during the term of this Agreement in accordance with Employer's
Personnel Manual, which is subject to modifcation form time to time,
without notice.
XII. Termination.
A. This Agreement may be terminated by either party on
______ (number) days' written notice to the other. If Employer
shall so terminate this Agreement, Employee shall be entitled to
compensation for _______ (number) days.
B. On termination of this Agreement, Employee agrees that
Employee will not engage in the profession of public accounting
within a radius of ________ (number) miles from any ofce of
Employer, for a period of _______ (number) years. Employee
agrees that this noncompetition section is necessary to protect
Employer's business, and that Employee's violation of this
subsection would result in irreparable harm to Employer. If
Employee breaches this subsection, Employer shall be entitled to
injunctive relief in addition to any other remedies legally
available. This subsection shall survive termination of this
Agreement.
C. Maximum Restrictions of Time, Scope, and
Geographic Area Intended. The parties agree and
acknowledge that the time, scope and geographic area and other
provisions of this Agreement have been specifcally negotiated by
the parties, and Employee specifcally agrees that such time,
scope and geographic areas, and other provisions are reasonable
under these circumstances. Employee further agrees that if,
despite the express agreement of the parties to this Agreement,
a court should hold any portion of this Agreement unenforceable
for any reason, the maximum restrictions of time, scope and
geographic area reasonable under the circumstances, as
determined by the court, will be substituted for the restrictions
held unenforceable.
XIII. Confdentiality. In the course of performing this Agreement,
the parties
recognize that Employee may come in contact with or become familiar
with information which Employer may consider confdential. This
information may include, but is not limited to
_____________________________________________________ (describe).
Consultant agrees to keep all such information confdential and not to
discuss or divulge it to anyone other than appropriate Employer
personnel or their designees. This Section shall survive termination of
this Agreement.
XIV. Modifcation of Agreement. Any modifcation of this
Agreement or additional obligation assumed by either party in
connection with this Agreement shall be binding only if evidenced in
writing signed by each party or an authorized representative of each
party.
XV. Severability. The invalidity of any portion of this Agreement will
not and shall not be deemed to afect the validity of any other
provision. If any provision of this Agreement is held to be invalid, the
parties agree that the remaining provisions shall be deemed to be in
full force and efect as if they had been executed by both parties
subsequent to the expungement of the invalid provision.
XVI. No Waiver. The failure of either party to this Agreement to insist
upon the performance of any of the terms and conditions of this
Agreement, or the waiver of any breach of any of the terms and
conditions of this Agreement, shall not be construed as subsequently
waiving any such terms and conditions, but the same shall continue
and remain in full force and efect as if no such forbearance or waiver
had occurred.
XVII. Governing Law. This Agreement shall be governed by,
construed, and enforced in accordance with the laws of the State of
________________ (name of state).
XVIII. Notices. Unless provided herein to the contrary, any notice
provided for or concerning this Agreement shall be in writing and shall
be deemed sufciently given when sent by certifed or registered mail
if sent to the respective address of each party as set forth at the
beginning of this Agreement.
XIX. Mandatory Arbitration. Any dispute under this Agreement shall
be required to be resolved by binding arbitration of the parties hereto.
If the parties cannot agree on an arbitrator, each party shall select one
arbitrator and both arbitrators shall then select a third. The third
arbitrator so selected shall arbitrate said dispute. The arbitration shall
be governed by the rules of the American Arbitration Association then
in force and efect.
XX. Entire Agreement. This Agreement shall constitute the entire
Agreement between the parties and any prior understanding or
representation of any kind preceding the date of this Agreement shall
not be binding upon either party except to the extent incorporated in
this Agreement.
XXI. Compliance with Laws. In performing under this Agreement, all
applicable governmental laws, regulations, orders, and other rules of
duly-constituted authority
will be followed and complied with in all respects by both parties.
WITNESS our signatures as of the day and date frst above stated.
______________________________
(Name of Employer)
________________________ By:_________________________
(Signature of Employee) (Signature of Ofcer)
________________________ _______________________________
(P rinted Name of Employee) (P rinted Name & Ofce in
Corporation)