An Agreement entered between the Employer and Employee. The Contract will stipulate duties, responsibilities, and also benefits accorded.
MEMORANDUM OF UNDERSTANDING
MOUs are less formal than contracts, and typically include fewer details and complexities, but they are more formal than handshake agreements.. All sorts of entities use MOUs to create guidelines for each party as they contribute their efforts and resources toward important projects. But ultimately, the reason that parties opt for MOUs is because they are simpler and more flexible than contracts.
SERVICE LEVEL AGREEMENT
A service level agreement (SLA) is a contract between a service provider (either internal or external) and the end user that defines the level of service expected from the service provider. SLAs are output-based in that their purpose is specifically to define what the customer will receive. SLAs do not define how the service itself is provided or delivered.
There are many advantages to entering into a shareholders’ agreement, including:
- It can be used to protect the position of minority shareholders by requiring unanimous approval for important company decisions
- It can regulate the appointment and removal of directors by allowing a shareholder or a group of shareholders each to appoint one or more directors
- It can regulate the raising of capital to avoid the dilution of shareholdings
- It can place restrictions on changes to the nature of the company’s business
- It can also provide for the resolution of disputes where a deadlock occurs, through mediation and/or arbitration .
When getting a new enterprise off the ground, there is nothing more important than having a clear agreement amongst the founders around a handful of key issues that are critical to your ability to safeguard the future viability of your new enterprise and to raise venture money. These key issues cover three really important areas: the roles and responsibilities of the founding team, equity ownership and vesting and IP ownership.
What’s Inside a Founders’ Agreement
In some ways, a founders’ agreement is an outline of what’s expected to come. It can include:
- Expected salaries
- A statement about the directionof the company
- A prospective business plan
- roles and responsibilities, etc.
The franchise agreement lays out all of the rules, restrictions and obligations of the franchisor and franchisee regarding the successful operation of the business. Whether it is a home based franchise or a standalone business, it is your responsibility to maintain your franchise location in a proper and presentable working condition. As a franchisee, you are obligated to ensure that any regulations regarding trademarks, patents, advertising policies, etc. are followed accordingly.