Understanding Common Contract Clauses
When you are negotiating an employment contract, it is common for your employer to insert many restrictive covenants, which may limit your rights as an employee and when you leave.
At Employment Law Office of John H. Haskin & Associates, LLC, we believe that you should understand what these covenants mean before you sign any employment contract. From our office in Indianapolis, Indiana, and in court, our attorneys aggressively protect the rights of employees.
Defining Common Restrictive Covenant Terms
Some of the more common terms that you may see in your contract include:
- Noncompete clause: This attempts to limit your ability to work for a direct competitor if you leave your company. Some will also attempt to put a mileage radius in place, forcing you to go farther to look for work.
- Severance agreement: This details your compensation if you are fired or if you leave the company. It can include money, continuation of health benefits, stock options and more. Many also limit what you can say about the company or whether you can take legal action.
- Nondisclosure agreement: This may prevent you from saying anything negative about your employer.
- Proprietary information: This can be information such as financial data and trade secrets that your employer will likely not want leaked to the general public.
- Release of claims: This is usually used in conjunction with a severance agreement. It can state something to the effect that by accepting the severance agreement, you waive all your rights to take legal action against your employer, such as for discrimination.
Our lawyers keep up to date with the latest legal developments and case decisions to make sure you have the information you need about these restrictive covenants and clauses. In many cases, some contract clauses may not be enforceable.
Having an attorney like John H. Haskin on your side could be the difference in successfully resolving any issues with your employment contract. An experienced litigator, he knows when it can be avoided and he knows when it will be necessary to fight on your behalf. Contact us today at 317-426-6995 for a free telephone consultation and learn more.