Examples of Employment Agreements to Rehire Employees in an Asset Purchase

by a searcher from Brigham Young University

1 year ago

Does anyone have examples of employee agreements that can be used to rehire all of the employees in an asset purchase? Once we close, all the employees will be effectively terminated and rehired. We need to put together employment agreements for each of them to sign. Any advice on the best route to go here? Should I have our attorney draft the agreements, or do I just find a simple template? Thanks!

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professional from Dartmouth College

Most employees do not have employment agreements other than senior management. Probably best to talk with an employment lawyer in your state to confirm any state-specific requirements, but typically you might have an offer letter for each which lays out their proposed compensation, bonus, role expectations etc. Depending on the business you may want them to sign Confidentiality and Proprietary Invention Assignment Agreements. If they are getting equity you would have an equity award agreement as well. You could definitely find a form of Offer Letter online since they are pretty basic, but it may be worth talking with an attorney locally about any pitfalls.

1 year ago | like reply | 2 likes

searcher from Harvard University - Harvard Business School

1 year ago | like reply | 0 likes

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