Re: Framing an employment contract

From: Wayne E Baisley (
Date: Mon Mar 12 2001 - 09:42:38 PST

> Are there any standard ways in the US to frame employment contracts
> such that Im protected from their financial ups and downs?

In a word: No.

I am not a lawyer (I don't even play a real doofus anymore, for crying
out loud), but the problem with such a contract is that if they go under
and default on their obligation to you, you're still out on your ass
(American for arse), and you can stand in line with (more likely behind)
the other creditors. Find out as much as you can about their financial
situation and treat it like any other investment. And just because they
go belly up, it doesn't necessarily mean it was the wrong thing to do,
depending on what you've gotten out of it (excluding stock options ;-).
But you'll need to plan for the disruption. If you've got other mouths
to feed, that might be a bigger deal than if you're single. It also
depends on your personality. Some handle uncertainty better than

Hope that helps. Others who know better may now take issue with me.


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