service contract

service contract
An agreement between a company and its directors or senior managers setting out their terms of service, in particular the minimum term and notice period. It differs from the normal conditions of employment in that it is more detailed and includes terms which are usually the subject of more arms length negotiation such as restrictive covenants. The principal feature is the length of the term as dismissal can give the employee a damages claim based on the value of his salary and benefits, or the period up to the time when the Agreement could have been terminated.

Easyform Glossary of Law Terms. — UK law terms.

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Look at other dictionaries:

  • service contract — ➔ contract1 * * * service contract UK US noun [C] ► HR a formal agreement between a company and an employee in a high position about their pay and conditions of employment (= rules under which they are employed): »The company has reduced service… …   Financial and business terms

  • service contract — UK / US noun [countable] Word forms service contract : singular service contract plural service contracts business 1) a contract with a company to keep equipment working correctly, at an agreed price during a fixed period of time 2) British a… …   English dictionary

  • service contract — / sɜ:vɪs ˌkɒntrækt/ noun a contract between a company and a director showing all conditions of work ● He worked unofficially with no service contract …   Dictionary of banking and finance

  • service contract — contract of employment; = contract of service; = service agreement An employment contract between an employer and employee, usually a senior employee, such as a director, executive manager, etc. Service contracts must be kept at the registered… …   Accounting dictionary

  • service contract — service agreement An employment contract between an employer and employee, usually a senior employee, such as a director, executive manager, etc. Service contracts must be kept at the registered office of a company and be open to inspection by… …   Big dictionary of business and management

  • service contract — noun a contract for maintenance services • Hypernyms: ↑contract …   Useful english dictionary

  • service contract — A written agreement to perform maintenance or repair (or both) service on a consumer product for a specified duration. 15 U.S.C.A. No. 2301. See warranty (extended service warranty) …   Black's law dictionary

  • service contract — A contract whereby one of the parties undertakes to perform services for the other …   Ballentine's law dictionary

  • Service contract — Договор на обслуживание …   Краткий толковый словарь по полиграфии

  • Metropolitan Bus Service Contract — The Metropolitan Bus Service Contract covers government supported private bus services in parts of metropolitan Sydney, Australia, mostly in its west. In recent years the government has moved to larger contract regions, leading to a the… …   Wikipedia

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