Updated April 04, 2024
A Colorado employment contract agreement is a written document signed by an employer and an employee who have agreed upon the terms and conditions therein (employee’s income, responsibilities, the period of employment, benefits, and more). The structure of the agreement establishes a relationship between the parties and can protect the employee from wrongful termination while protecting the employer’s confidential information from unsanctioned disclosure. An employment contract is most commonly used for employees in high-level management positions or freelance employment, however, a contract could be drafted to suit a number of other jobs and positions as well.
By Type (4)
Employee Non-Disclosure Agreement (NDA) – Prohibits employees from disclosing employer’s confidential and proprietary information.
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Employee Non-Compete Agreement – Prohibits employees from competing with the employer either by establishing a new business or aiding an existing business in the same field.
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Independent Contractor Agreement – Legal arrangement establishing a relationship between client and contractor.
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Subcontractor Agreement – Document establishing a working relationship between contractor and subcontractor.
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Table of Contents |
What is an Employee?
“Employee” Definition – Any person, with certain exceptions, “in the service of an employer, under any contract of hire, express or implied.”[1]
At-Will Employment
At-Will Employment – Allowed with the exception of any “Public Policy” and “Implied Contracts” understandings.
Income Tax Rate (Individual)
Individual Income Tax Rate – 4.63%[2]
Minimum Wage ($/hr)
Minimum Wage – $12.00[3]