This Employee Retention Agreement is made and entered into between [Employer.Company] and [Employee.FirstName][Employee.LastName] and will remain effective from [Document.CreatedDate].
[Employee.FirstName][Employee.LastName] is presently employed by [Employer.Company] as [Employee.Title]. This employment is said to be retained for ______ years starting from (MM.DD.YYYY) and may end on (MM.DD.YYYY) .
If either party wishes to change any terms of this agreement, they can do so by giving notice in writing at least (Days) days before the end date stated above.
Both parties agree mutually to the clauses mentioned below:
The professional association between [Employee.FirstName][Employee.LastName] and [Employer.Company] will be dismissed if either party fails to refuse or perform their duties adequately or within reasonable timeframes.
If the employee fails to perform their duties and responsibilities for (Insert timeframe) consecutive days/months, the employer holds the right to terminate employment without giving any prior notice. In such circumstances, [Employee.FirstName][Employee.LastName] agrees to release the employer, its affiliates, subsidiaries, officers, directors, and other employees from any and all liabilities arising out of or related to their employment with the Company.
Furthermore, the employee agrees not to take any action or make any statement or representation which might damage the company's reputation.