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| | 0.11.7: The Carrot-And-Stick Approach: The Employment Agreement - Encyclopedia - Library - VC Experts |
 | | Therefore, a multiyear employment contract usually refers to the evergreen arrangement; strictly speaking, the employee is terminable at will, subject to the severance arrangement. |
 | | Employment agreements, because they are not specifically enforceable in the sense of requiring the parties to remain married, become interesting when they fall into Shepherd's latter category: What to do in the case of breach. |
 | | Thus, if an employment contract were to provide that, upon the early termination of a given employee, damages in the millions of dollars would be payable by the firm, that employee, in effect, would enjoy an insured lifetime position because he would be too expensive to fire. |
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